Tuesday, 9 April 2013

COT data of April 2nd 2013 - British Pound [BP]

British Pounds - Total o/i was down fractionally, at 208425, while spreads were also lower, at 2438 - around 1.2% of the total.

Nett differences:
Commercials +97863 (from +95441).  Large Specs -65020 (from -66555).  Small Specs -32843 (from -28886). Commercials reduced their shorts a shade, while Large Specs reduced both longs and shorts; Small Specs again did the reverse, adding to both longs and (especially) to shorts.
Commercials (53.0% of total o/i) - 76.7% of Longs, 29.2% of Shorts, balance plus 47.5
Large Specs (31.2% of total) - 15.5% of Longs, 47.0% of Shorts, balance minus 31.5
Small Specs (15.8% of total) - 7.8% of Longs, 23.8% of Shorts, balance minus 16.0

The nett balance of Commercials moved higher yet again, at plus 47.5 (a very high figure), while Large Specs showed little change. Small Specs have a somewhat disproportionate share of the total shorts, adding to our view that we should remain on the side of the Commercials.