Saturday, 23 March 2013

COT data of March 19th 2013 - British Pound [BP]

British Pounds - Total o/i was down as the March position comes off the board, at 212517, still well up from this time 3 months ago. Spreads were much lower, at 2626 - 1.2% of the total.

Nett differences:
Commercials +93602 (from +82484).  Large Specs -61480 (from -49800).  Small Specs -32122 (from -32684). Commercials reduced their positions sharply, but cut shorts more than longs. Large Specs added to positions, particularly shorts, and Small Specs reduced theirs, while increasing their share of the total o/i.
Prices have in general moved higher since the figures were struck, with the latest price around 1.5230 after a low of 1.5025 and a high of 1.5250.
Commercials (52.2% of total o/i) - 74.5% of Longs, 29.9% of Shorts, balance plus 44.6
Large Specs (33.2% of total) - 18.6% of Longs, 47.9% of Shorts, balance minus 29.3
Small Specs (14.6% of total) - 6.9% of Longs, 22.2% of Shorts, balance minus 15.3
The nett balance of Commercials moved to a very high level, at plus 44.6, while Large Specs moved strongly in the other direction, at minus 29.3. The market is now quite finely balanced, with both sides firmly committed, Commercials (long) versus Specs (short) - as usual, we are on the side of the Commercials.

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