Saturday, 23 August 2014

COT data of Aug 19th 2014 - British Pound [BP]

British Pounds - Total o/i 237291, spreads 4132 (1.7%).  Closing price Aug 19th 1.6615

Nett differences:  Commercials -16001 (from -23466)  Large Specs +13287 (from +18799)  Small Specs +2714 (from +4667)   



Commercials (60.1% of total o/i) -

56.6% of Longs (from 57.0%), 63.5% of Shorts (vs 67.6%), balance minus 6.9 (vs minus 10.6)

Large Specs (28.1% of total) -

31.0% of Longs (from 29.5%), 25.3% of Shorts (vs 21.0%), balance plus 5.7 (vs plus 8.5)

Small Specs (11.8% of total) -

12.4% of Longs (from 13.5%), 11.2% of Shorts (vs 11.4%), balance plus 1.2 (vs plus 2.1) 


Total open interest jumped, as Large Specs entered the market more aggressively, on the short side. Commercials added to longs (although not proportionately), while cutting shorts considerably. Large Specs were mixed, but on balance added to shorts as the downtrend continued. Small Specs added marginally to nett shorts while being stopped out of longs. It could be time to join the Commercials and look for reasons to buy.
[Total open interest on the Dollar Index rose once again, with Commercials adding to shorts and Large Specs adding to longs. Small Specs remain a marginal influence.  Proportional balances: Commercials minus 39.7 (from minus 38.0), Large Specs plus 31.3 (from plus 28.4), Small Specs plus 8.4 (from plus 9.6). The uptrend continues, but may be losing friends. ]

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