The US shutdown has deprived oil traders of access to critical data on market positioning. This could destabilize commodity trading as the Commodity Futures Trading Commission has stopped publishing Commitments of Traders reports.
The prolonged shutdown of the US government has deprived oil traders of access to critical market positioning data, which could destabilize commodity trading. This is stated in a Bloomberg article, writes UNN.
Details
The Commodity Futures Trading Commission (CFTC), due to lack of funding, has stopped publishing Commitments of Traders (COT) reports, which were used by both large funds and private investors.
Damn, now what?
— this is how trader and author of the YouTube show Offsides Macro Rick Bandazian, who calls COT reports "his North Star," reacted.
These reports helped determine market sentiment and the balance between speculators and producers.
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The lack of data makes the market more vulnerable to speculation and sharp price fluctuations.
Week after week, and this is becoming an increasingly serious problem
— said Darrell Fletcher of Bannockburn Capital Markets.
The CFTC plans to resume publishing reports after the government reopens, gradually catching up on missed data. But experts warn: the lack of transparency could force investors to reduce activity and leave the market without guidance for several weeks.
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