CFTC August 28 data shows CAD short covering and gold buying

  • CFTC published its August 28 Commitments of Traders report covering futures positioning through August 25.
  • Canadian-dollar short covering led weekly changes among major currencies, while gold recorded a significant increase in net-long positions.
  • The report covers Bitcoin and other CME, ICE and NYMEX futures, dividing positions between commercial hedgers and non-commercial traders.

The Commodity Futures Trading Commission (CFTC), the U.S. derivatives regulator, published its latest Commitments of Traders report on August 28, covering open interest and trader positioning through August 25 across CME, ICE and NYMEX contracts. The data showed Canadian-dollar short covering leading weekly changes among major currencies, while gold recorded a significant increase in net-long positions. The report also covers Bitcoin, agricultural commodities, energy, currencies and metals, separating commercial hedgers from non-commercial participants such as hedge funds, commodity trading advisers and other managed-money investors. Reduced CAD net shorts may reflect stronger crude oil prices, a more hawkish Bank of Canada stance, a resilient domestic economy or profit-taking, while increased gold longs may indicate safe-haven demand amid geopolitical tensions, central-bank purchases and expectations of easier monetary policy. Traders use the data to assess speculative sentiment and potential trend reversals or continuations alongside fundamental and technical analysis.

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