CFTC Data: Copper Sentiment Heats Up as Gold Fades
What is CFTC Data? Why Must We Watch It?The Commitments of Traders (COT) report, released weekly by the CFTC (U.S. Commodity Futures Trading Commission), serves as one of the key references for global futures market fund flows. Its greatest value lies in breaking down market participants, allowing us to see "who is buying and who is selling."CFTC categorizes market positions primarily into three groups:Non-Commercial Positions: Mainly speculative funds such as hedge funds and CTAs, representing the most sensitive and directional forces in the market.Commercial Positions: Industry clients using them for hedging, with weaker directionality.Non-Reportable Positions: Small funds, with minimal impact.Among these, non-commercial positions are the core focus. The reason is simple: these funds aim
📊Futures Weekly: Money Flows Out of Stocks Despite the Rally, While Precious Metals Bulls Cool Off
Since April 9, developments between the United States and Iran have broadly followed a pattern of “ceasefire implementation and advancing negotiations, but fragile execution and unresolved disagreements.” After the two-week temporary ceasefire entered the implementation stage, the Strait of Hormuz nominally resumed limited shipping, yet the actual volume of vessel traffic remained extremely low, suggesting that maritime tensions had not genuinely eased. Then, on April 10 and 11, the United States and Iran held high-level talks in Islamabad, discussing sanctions arrangements, ceasefire boundaries, and navigation through the strait. Despite the lengthy discussions, however, no substantive breakthrough was achieved. From April 13 to 15, there were brief expectations that the ceasefire might b