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Gold, AUD/USD, Dow Jones: Commitment of traders report (COT) - 28/08/2023
Another week, another record high for net-short exposure to the US 2-year bond. And as yields have risen since the data was collected last Tuesday, I suspect we’ll be looking at another new record when the next report is released on Friday. So whilst positioning is clearly at an extreme and at risk of a nasty reversal at some point, we’re yet to see that materialise on prices. Clearly, higher yields have benefitted the US dollar which helped the US dollar index rise for a sixth week. Although such sequences are quite rare so we’d expect a bearish week at some point, which could help the likes of AUD/USD and ... (full story)