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25 May 2015
USD longs returning? – Nomura
FXStreet (Barcelona) - FX Strategists at Nomura, share the IMM Forex Positioning data for the week ended May 19.
Key Quotes
“According to the IMM data for the week ended May 19, USD longs were cut by $3.1bn. This brought net longs to $32.1bn, the least net long official USD positioning had been since early September 2014. According to our real time estimates, however, net longs increased again to $34.8bn by Friday’s close. Still, this is close to 40% below the peak USD positioning in early January.”
“Non-commercial accounts bought $0.7bn of CAD in the week ended Tuesday and an estimated $0.1bn since. This brought CAD positioning to $0.4bn, the first time it has been net long since September 2014.”
“NZD positioning flipped to negative again on the back of $0.3bn of selling into Tuesday. An additional $0.1bn of selling brought estimated positioning to -$0.3bn currently. This is the first time NZD positioning has been negative since March.”
“EUR shorts were reduced to -$23.5bn by Tuesday, the least net short official EUR positioning has been YTD.”
Key Quotes
“According to the IMM data for the week ended May 19, USD longs were cut by $3.1bn. This brought net longs to $32.1bn, the least net long official USD positioning had been since early September 2014. According to our real time estimates, however, net longs increased again to $34.8bn by Friday’s close. Still, this is close to 40% below the peak USD positioning in early January.”
“Non-commercial accounts bought $0.7bn of CAD in the week ended Tuesday and an estimated $0.1bn since. This brought CAD positioning to $0.4bn, the first time it has been net long since September 2014.”
“NZD positioning flipped to negative again on the back of $0.3bn of selling into Tuesday. An additional $0.1bn of selling brought estimated positioning to -$0.3bn currently. This is the first time NZD positioning has been negative since March.”
“EUR shorts were reduced to -$23.5bn by Tuesday, the least net short official EUR positioning has been YTD.”