British Pounds - Total o/i 175291, spreads 2560 (1.5%). Closing price Jun 2nd 1.5345
Nett differences: Commercials +28514 (from +26865) Large Specs -25658 (from -25539)
Small Specs -2856 (from -1326)
Small Specs -2856 (from -1326)
Proportions:
Small Specs (13.8% of total) -
Commercials (59.8% of total o/i) -
68.1% of Longs (from 67.4%), 51.6% of Shorts (from 52.0%), balance plus 16.5 (from plus 15.4)
Large Specs (26.4% of total) -
19.0% of Longs (from 19.8), 33.8% of Shorts (from 34.4%), balance minus 14.8 (from minus 14.6) Small Specs (13.8% of total) -
12.9% of Longs (from 12.8%), 14.6% of Shorts (from 13.6%), balance minus 1.7 (from minus 0.8)
Very little change in either the o/i figures or in the week-to-week price - we can only reiterate last week's comment: major weakness from here looks unlikely.
Very little change in either the o/i figures or in the week-to-week price - we can only reiterate last week's comment: major weakness from here looks unlikely.
Dollar Index: Total o/i 102174, spreads 2708 (2.7%). Closing price Jun 2nd 95.90
Commercials (49.4% of total o/i) - 12.6% of Longs (from 14.5%), 86.2% of Shorts (vs 80.2%), balance minus 73.6 (vs minus 65.7)
Large Specs (42.8% of total) - 72.9% of Longs (from 69.5%), 12.8% of Shorts (vs 17.3%), balance plus 60.1 (vs plus 52.2)
Small Specs (7.8% of total) - 14.5% of Longs (from 16.0%), 1.0% of Shorts (vs 2.5%), balance plus 13.5
Nett differences: Commercials -73188 (from -65900) Large Specs +59722 (from +52296)
Small Specs +13466 (from +13604)
Small Specs +13466 (from +13604)
Proportions -
Commercials (49.4% of total o/i) - 12.6% of Longs (from 14.5%), 86.2% of Shorts (vs 80.2%), balance minus 73.6 (vs minus 65.7)
Large Specs (42.8% of total) - 72.9% of Longs (from 69.5%), 12.8% of Shorts (vs 17.3%), balance plus 60.1 (vs plus 52.2)
Small Specs (7.8% of total) - 14.5% of Longs (from 16.0%), 1.0% of Shorts (vs 2.5%), balance plus 13.5
(unchanged)
Once again, Commercials reduced longs and added to shorts, while Large Specs added to longs but - this time - reduced shorts considerably. Small Specs reduced both long and short positions. Last week's comment proved correct, but this week's decision is more difficult - should one follow the Commercials (who are distinctly short), or the Large Specs (who are comparatively long)? [Small Specs seem to reflect this dilemma - they have a very limited commitment at present]. Our inclination, as always, is to take guidance from the Commercials in the medium term.
Once again, Commercials reduced longs and added to shorts, while Large Specs added to longs but - this time - reduced shorts considerably. Small Specs reduced both long and short positions. Last week's comment proved correct, but this week's decision is more difficult - should one follow the Commercials (who are distinctly short), or the Large Specs (who are comparatively long)? [Small Specs seem to reflect this dilemma - they have a very limited commitment at present]. Our inclination, as always, is to take guidance from the Commercials in the medium term.
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