CFTC COT data of May 26th 2015 - British Pound [BP], Dollar Index [DX]

British Pounds - Total o/i 176797, spreads 1871 (1.1%).  Closing price May 26th 1.5385

 

 Nett differences:  Commercials  +26865 (from +23388)  Large Specs -25539 (from -23362)
                              Small Specs -1326 (from -26)

  Proportions:

 Commercials (59.7% of total o/i) - 

  67.4% of Longs (from 64.7%), 52.0% of Shorts (from 51.8%), balance plus 15.4 (from plus 12.9)

 Large Specs (27.1% of total) - 

   19.8% of Longs (from 22.7%), 34.4% of Shorts (from 35.6%), balance minus 14.6 (from minus 12.9) 

  Small Specs (13.2% of total) - 

  12.8% of Longs (from 12.6%), 13.6% of Shorts (from 12.6%), balance minus 0.8 (from square)

 On a nett basis, all positions were increased. On a proportional basis, there was a reversion to the previous pattern - Commercials went slightly longer on the dip, while Large Specs went slightly shorter (following the trend, as usual). Small Specs went marginally short (from square), but are still a comparatively insignificant factor. On this basis, major weakness from here looks unlikely.

Dollar Index: Total o/i 103211, spreads 2916 (2.8%). Closing price May 26th 97.40

Nett differences:  Commercials -65900 (from -62596)  Large Specs +52296 (from +53483)
                              Small Specs +13604 (from +9113)

Proportions -

 Commercials (47.3% of total o/i) - 14.5% of Longs (from 16.7%), 80.2% of Shorts (vs 82.9%), balance minus 65.7 (vs minus 66.2)

 Large Specs (43.4% of total) - 69.5% of Longs (from 68.1%), 17.3% of Shorts (vs 11.5%), balance plus 52.2 (vs plus 56.6) 

  Small Specs (9.3% of total) - 16.0% of Longs (from 15.2%), 2.5% of Shorts (vs 5.6%), balance plus 13.5

 (vs plus 9.6)
 
 Commercials reduced longs and added to shorts, while Large Specs added to longs and - more aggressively - to shorts. Small Specs also added to longs, but reduced their already small short position. It appears that the current minor rally may end soon.