Net-long positions across eighteen United States futures and options have been impacted by hedge funds cuts. These cuts have reduced these positions by 0.2 percent to slightly more than one million contracts in the week that ended on October 23. Commodity Futures Trading Commission reveals that this is the lowest point since July 24. Copper holdings and sugar wagers fell significantly. Bullish bets on gold also dropped to the lowest point within three months. A Commodity Day Trade System USA can help traders take safe positions that can help them make profitable returns.
Donald Selkin is currently the chief market strategist for National Securities Corporation in New York. This well-known company manages close to three billion dollars of assets. He stated, “Commodity liquidation is related to the perception of the world-wide economic slowdown.” He also stated, “People are getting out of more economically sensitive types of commodities.”
Recent data collected by The Commerce Department reveals that the economy in The United States grew at a two percent annual rate in a three-month period. Their data also shows that this positive activity topped the median economist forecast for an impressive 1.8 percent gain. Consumer confidence climbed to a five-year high in October. The real estate market experienced a nice change when home sales climbed to a two-year high in September.
The state of the economy has been a central theme for President Barack Obama and Republican candidate Mitt Romney. Pacific Investment Management Officer Bill Gross said, “The budget deficit, structural headwinds, and the fiscal cliff will dominate the economic debate.” The Commodity Day Trade System USA can help traders sustain profitable positions during sudden market changes.
Commodities: Speculators Lower Wagers As Annual Advance Is Erased by Steve