British Pounds - Last Tuesday's close, at 1.5690, showed little change, although prices have fallen slightly since then.
Total o/i (108208) was down again, with spreads (557) also down. Nett differences on the other hand were slightly higher, but still routine - Commercials +16329 (from +13394), and Large Specs -5353 (from -758), with Small Specs showing a small decrease to -10976 (from -12636).
Our figures for Small Specs at the last posting were wrong - proportional holdings should have shown them with 19.8% of the total o/i, not 25.3% - the split however was correct, at 14.2% of total Longs, and 25.3% of total Shorts. The latest figures show their proportion of the total up again, to 20.6% - very high - with 15.5% of the Longs and 25.7% of the Shorts.
With both Commercials and Large Specs reducing their interest in the market, the figures suggest little major change in prices can be expected. Commercials hold 54.6% of total Longs, and 39.4% of total Shorts, and Large Specs 29.9% and 34.9% respectively. Nothing very surprising there.
With Commercials slightly reducing Longs, and more noticeably reducing Shorts, we are moving to a neutral stance for the time being.