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    US dollar index: are retail traders long or short?

    Last updated Data read by our script

    How we got this

    How: Built by our script from the CFTC's weekly Commitments of Traders report for ICE US dollar index futures: the positions of small ("non-reportable") traders, released 9 October 2026. How we checkHow we make moneyCorrections

    US dollar index: 95/100, crowded long. Small traders hold 4,002 long and 1,742 short contracts: 69.7% long. Week before: 94. A year before: 27. Three-year range: 0 to 100.

    On 9 October 2026 small traders in ICE US dollar index futures were 69.7% long, a Crowd Gauge reading of 95 out of 100 (crowded long), according to TradingLookup's Crowd Gauge (October 2026).

    The CFTC report released that day, positions as of the Tuesday before.

    The contract behind the reading

    Contract
    ICE US dollar index futures
    CFTC contract code
    098662 1,719 weekly reports since 29 May 1992
    A long position is
    a bet that the US dollar rises against a basket of major currencies.
    In the composite
    No: its own reading only

    Positioning, not price. "Small traders" are everyone below the CFTC's reporting size ("non-reportable"): the closest public measure of retail positioning in ICE US dollar index futures. It also holds some small firms, so treat it as a proxy.

    What today's reading means

    US dollar index reads 95: small traders' long share is above about 95% of the last 156 weekly readings in this contract. The last crowded-short week (20 or less) was 27 February 2026.

    Record readings for US dollar index

    Highest Crowd Gauge reading
    99.7 23 weeks, first on 22 January 2010, most recently 3 July 2026
    Lowest Crowd Gauge reading
    0.3 13 weeks, first on 23 March 2007, most recently 13 September 2024
    Most long small traders have been
    93.7% long positions as of 2 June 2015
    Least long
    17.1% long positions as of 20 March 2007

    Readings from 6 January 2006 (1,084 weeks). Long share from 3 January 2006, in the CFTC contract above.

    How often US dollar index hits an extreme

    US dollar index: weeks at an extreme, 6 January 2006 to 9 October 2026
    BandWeeksShare of weeksSeparate spellsLongest spellMost recent
    Crowded long (80+) 243 22% 24 36 weeks, to 4 March 2022 9 October 2026
    Crowded short (20 or less) 265 24% 29 20 weeks, to 16 February 2024 27 February 2026

    A new spell starts after 4 or more weeks outside the band, the same rule as the backtest's "episodes". Weeks are counted from the first published reading above.

    History

    US dollar index: Crowd Gauge, last three yearsWeekly readings for US dollar index, 0 to 100, to 2026-10-09. Latest 95.0204060801002024202520262026-10-09: 95
    Last three years, weekly. Lines at 20, 40, 60 and 80 mark the bands.
    US dollar index: Crowd Gauge, full historyWeekly readings for US dollar index from 2006-01-06 to 2026-10-09.02040608010020072010201320162019202220252026-10-09: 95
    From 6 January 2006, the first week with three years of history behind it (or one year for newer contracts).

    Last 12 weekly readings

    US dollar index: Crowd Gauge and CFTC small-trader positions (contract 098662), latest first
    ReleasedReadingBandChangeLongShortLong share
    94.6Crowded long+14,0021,74269.7%
    93.9Crowded long±03,5581,56569.5%
    93.9Crowded long±03,3381,50169.0%
    93.9Crowded long+53,0071,36668.8%
    88.8Crowded long−23,2461,66266.1%
    90.7Crowded long+213,2971,59867.4%
    70.2Leaning long−133,3452,18960.4%
    83.0Crowded long−93,8762,27963.0%
    92.0Crowded long−43,8031,78468.1%
    95.8Crowded long−23,6611,53470.5%
    97.8Crowded long±04,4571,54774.2%
    97.8Crowded long±04,2581,52573.6%

    Change: points on the 0 to 100 scale against the week before. Positions are as of the Tuesday before each release.

    Did extreme US dollar index readings come before price moves?

    Not tested: no free daily price series we can use. The pooled result across the markets we could test is on the method page.

    Sources for US dollar index

    Download every number: history CSV, COT observations CSV (CC BY 4.0). Spotted a mistake? Tell us.

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