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Yes, it does.

The Commitment of Traders (COT) report is a document that comes out every week and tells trader how different groups of people are trading in the U.S. futures market. This report is put together by the CFTC in the U.S.

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Based on a survey in 2019, JP Morgan, UBS, and Deutsche Bank are the top 3. Each has a market share of 10.78%, 8.13%, and 7.58% of the global forex market respectively.

They are followed by Citi (5.53%), HSBC (5.33%), Goldman Sachs (4.62%), State Street (4.61%), and Bank of America Merrill Lynch (4.5%).

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There are four main types of Commitment of Traders (COT) reports:

1. Legacy COT Report
2. Supplemental COT Report
3. Disaggregated COT Report
4. Traders in Financial Futures (TFF) Report

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GDP is published quarterly, and it is too long for companies to wait for GDP before making important decisions. Besides, different countries often have different methods of calculating GDP. Such a difference makes them practically incomparable.

Contrarily, an independent institution that counts PMI for many countries will certainly use a similar method. Unlike other economic reports published by government bodies, PMI is commonly held and published by private institutions. This ensures the independence of the survey and lends credibility to the result.

Continue Reading at Guide to PMI Data in Forex Analysis