FXStreet (Guatemala) – Analysts at TD Securities offered findings for the CFTC Commitments of Traders Report – Week Ending Tuesday, June 2nd.
“Gold investors played both sides of exposure, growing longs and shorts in roughly equally measure. The longs saw the gold market as ripe for a move higher, while the shorts were focusing on Fed rate hike risks.”
“Silver specs increased short exposure by cutting longs and growing shorts, as price entered technically dangerous territory at time the dollar was strengthening, demand was in doubt and rates looked set to move higher.
“Platinum specs build further record short positioning, as European auto sales took a breather in May.”
“Palladiums specs built more shorts taking greater cues from Fed tightening expectations rather than the new highs in US auto sales.”
“A lack of China news/data and Greek default concerns, along with OPEC risk, saw base metals encounter a pullback—copper longs covered.”
“WTI specs increased net long crude oil exposure into the OPEC meeting at the end of this week, adding to long positions and cutting shorts, in the hopes that the group would cut their quota.”
“Large storage injections have prompted natural gas specs to heavily add to short positions.”
“Gasoline specs followed WTI by adding long positions and cutting shorts, while investors short heating oil took profits before inventories swelled last week.”
(Market News Provided by FXstreet)