Saturday 19 July 2014

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

British Pounds - Total o/i 255115, spreads 2613 (1.0%).  Closing price July 15th 1.7145
 
Nett differences:  Commercials -60291 (from -62309)  Large Specs +38770 (from +41639)  Small Specs +21521 (from +20670)   
 
Proportions:    
Commercials (60.9% of total o/i) -
48.9% of Longs (from 49.0%), 72.8% of Shorts (vs 73.7%), balance minus 23.9 (vs minus 24.7)

Large Specs (26.4% of total) -
34.1% of Longs (from 34.3%), 18.7% of Shorts (vs 17.8%), balance plus 15.4 (vs plus 16.5)

Small Specs (12.7% of total) -
17.0% of Longs (from 16.7%), 8.5% of Shorts (vs 8.5%), balance plus 8.5 (vs plus 8.2) 
 
Not much change overall; Commercials reduced shorts, while Large Specs added to theirs. Small  Specs added very slightly to longs, while their shorts remained exactly unchanged. We can only repeat last week's comment - seems like Commercials may be giving up on their long-term bear view. 

[Dollar Index also remained basically unchanged from the previous week; Commercials short, although slightly less so than previously (balance now minus 46.8): Specs long (balances - Large plus 34.4, Small plus 12.4). Seems the recent bull trend is likely to continue.]

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