CFTC COT data of May 12th 2015 - British Pound [BP], Dollar Index [DX]

British Pounds - Total o/i 183586, spreads 909 (0.5%).  Closing price May 12th 1.5670 

  

 Nett differences:  Commercials  +38987 (from +30343)  Large Specs -30769 (from -24758)
                              Small Specs -8218 (from -5585)

  Proportions:

 Commercials (57.5% of total o/i) - 

  68.1% of Longs (from 68.3%), 46.8% of Shorts (vs 50.7%), balance plus 21.3 (vs plus 17.6)

 Large Specs (29.0% of total) - 

   20.6% of Longs (from 19.9%), 37.4% of Shorts (vs 34.3%), balance minus 16.8 (vs minus 14.4) 

  Small Specs (13.5% of total) - 

  11.3% of Longs (from 11.8%), 15.8% of Shorts (vs 15.0%), balance minus 4.5 (vs minus 3.2)

 Commercials started adding to longs again, while reducing shorts, but not to a massive extent. Large Specs added to shorts, both outright and proportionately, and Small Specs did the same. There still seems to be a large amount of uncertainty around - we'll wait for the dust to settle.

 
Dollar Index: Total o/i 99697, spreads 2266 (2.3%). Closing price May 5th 94.65
 

Nett differences:  Commercials -66103 (from -70375)  Large Specs +55336 (from +58927)
                              Small Specs +10767 (from +11448)

Proportions -

 Commercials (47.9% of total o/i) - 14.0% of Longs (from 11.6%), 81.8% of Shorts (vs 82.0%), balance minus 67.8 (vs minus 70.4)

 Large Specs (40.7% of total) - 69.1% of Longs (from 72.7%), 12.3% of Shorts (vs 13.8%), balance plus 56.8 (vs plus 58.9) 

  Small Specs (11.4% of total) - 16.9% of Longs (from 15.7%), 5.9% of Shorts (vs 4.2%), balance plus 11.0

 (vs plus 11.5)
 
 Commercials once again added to longs and reduced shorts (slightly), once more taking their nett short to the lowest figure this year. Large Specs cut both longs and shorts, staying nett long, while Small Specs added slightly to longs but more vigorously to shorts - their overall nett long remains quite small. We're still not particularly bearish.