Saturday, 19 April 2014

COT data of Apr 15th 2014 - British Pound [BP]

British Pounds - Total o/i 226688, spreads 2456 (1.1%).  Closing price April 15th 1.6725
Nett differences:  Commercials -70626 (from -62900)  Large Specs +50598 (from +46477)  Small Specs +20028 (from +16423)

Commercials (59.6% of total o/i) - 
43.9% of Longs (from 43.0%, 75.4% of Shorts (vs 71.0%), balance minus 31.5 (vs minus 28.0)
Large Specs (27.7% of total) - 
39.0% of Longs (from 40.9%), 16.4% of Shorts (vs 20.2%), balance plus 22.6 (vs plus 20.7)
Small Specs (12.7% of total) - 
17.1% of Longs (from 16.1%), 8.2% of Shorts (vs 8.8%), balance plus 8.9 (vs plus 7.3)
Proportions have continued to move as previously, with Commercials going nett shorter (mainly by adding to short positions), Large Specs going nett longer (mainly by reducing shorts), and Small Specs also going longer (by adding to longs and reducing shorts).
The Dollar Index COT shows Commercials becoming rather less bearish on the Dollar, reducing their short positions while adding very slightly to longs. However, concentrating on the BP figures, and based simply on this week's COT, we still cannot feel particularly bullish on the Pound. 

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