CFTC COT data of Apr 21st 2015 - British Pound [BP], Dollar Index [DX]

British Pounds - Total o/i 175066, spreads 1293 (0.7%).  Closing price Apr 21st 1.4925

  Nett differences:  Commercials  +47497 (from +57723)  Large Specs -29281 (from -36045)
                              Small Specs -18216 (from -21678)

  Proportions:

 Commercials (58.1% of total o/i) - 

  71.8% of Longs (from 73.2%), 44.4% of Shorts (vs 42.3%), balance plus 27.4 (vs plus 30.9)

 Large Specs (28.5% of total) - 

   20.0% of Longs (from 18.2%), 36.9% of Shorts (vs 37.5%), balance minus 16.9 (vs minus 19.3) 

  Small Specs (13.4% of total) - 

  8.2% of Longs (from 8.6%), 18.7% of Shorts (vs 20.2%), balance minus 10.5 (vs minus 11.6)

 Total o/i fell, with reductions in all categories. Commercials (who have a big share of the open interest at present) reduced longs more than shorts, showing less confidence in stronger prices from here, whereas Large Specs cut their shorts on the rally and added slightly to longs. Small Specs continue to play a minor role, and the impending General Election seems to remain an inhibiting influence.

Dollar Index: Total o/i 115918, spreads 2570 (2.2%). Closing price Apr 21st 98.21
 

Nett differences:  Commercials -88374 (from -90485)  Large Specs +71721 (from +76407)
                              Small Specs +16653 (from +14078)

Proportions -

 Commercials (46.6% of total o/i) - 7.6% of Longs (from 8.4%), 85.6% of Shorts (vs 85.8%), balance minus 78.0 (vs minus 77.4)

 Large Specs (44.2% of total) - 75.8% of Longs (from 77.4%), 12.5% of Shorts (vs 12.0%), balance plus 63.3 (vs plus 65.4) 

  Small Specs (9.2% of total) - 16.6% of Longs (from 14.2%), 1.9% of Shorts (vs 2.2%), balance plus 14.7

 (vs plus 12.0)
 
  Commercials proportionately reduced longs more than shorts, but they showed little change on balance. Large Specs acted similarly, leaving the Small Specs to take up the longs - not usually a good sign for the bulls.