Thursday, 2 May 2013

COT data of April 23rd 2013 - British Pound [BP]

British Pounds - Total o/i  199465, spreads 2487 - around 1.2% of the total.

Nett differences:
Commercials +88913 (from +86801).  Large Specs -60112 (from -61975).  Small Specs -28801 (from -24826).

Commercials (52.7% of total o/i) - 75.3% of Longs, 30.2% of Shorts, balance plus 45.1
Large Specs (32.5% of total) - 17.3% of Longs, 47.8% of Shorts, balance minus 30.5
Small Specs (14.8% of total) - 7.4% of Longs, 22.0% of Shorts, balance minus 14.6

Commercials had started to reduce their longs, but have not continued. Large Specs have moved slightly to a less negative position. Small Specs have been reducing longs and adding to shorts, although not to a significant degree. We had been prepared to become less positive, but based on these latest figures have decided to remain moderately bullish.

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