Saturday 28 June 2014

COT data of June 24th 2014 - British Pound [BP]

 
 
British Pounds - Total o/i 254369, spreads 2077 (0.8%).  Closing price June 24th 1.6985
 
Nett differences:  Commercials -68896 (from -72946)  Large Specs +49751 (from +52596)  Small Specs +19145 (from +20350)   
 
Proportions:   
Commercials (59.3% of total o/i) -
45.6% of Longs (from 43.3%), 72.9% of Shorts (vs 72.7%), balance minus 27.3 (vs minus 29.4)
Large Specs (29.0% of total) -
38.9% of Longs (from 40.5%), 19.2% of Shorts (vs 19.3%), balance plus 19.7 (vs plus 21.2)
Small Specs (11.7% of total) -
15.5% of Longs (from 16.2%), 7.9% of Shorts (vs 8.0%), balance plus 7.6 (vs plus 8.2) 
 
Commercials have added to both longs and shorts, but the main change has been in their increased longs - on balance, they still remain noticeably nett short however. Both Large and Small Specs have reduced their commitments, but remain quite long on balance. We continue to look for reasons to short the Pound. 

(Open positions in the Dollar Index have not changed much since the previous week's major changes, with Commercials remaining very short. It seems they expect the recent downtrend to continue.) 

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