In the week ending 8 May, leveraged funds’ positioning turned long EUR again for the first time in two weeks, though small at 4%, points out the research team at Nomura.
Key Quotes
“Asset managers continued to hold on to EUR longs, now at 50% of outstanding contracts.”
“AUD & CAD: Leveraged funds scaled down net long AUD positions to 6% of outstanding contracts (20% in the prior week). However, CAD shorts were reduced to 52% from 61% the previous week. The one-year high of CAD short positioning is 69%, recorded in late May 2017.”
“GBP&CHF: Leveraged funds’ GBP net long positions fell again, to 36% from 38% the previous week. The one-year high is 58% of net longs, reached in early April. On the other hand, the net short positioning of CHF expanded to 31% from 15%. The one-year high of CHF shorts is 36% in mid-May 2017.”
“JPY: Leveraged funds continued to scale back net longs to 0% (7% in the prior week). Asset managers also reduced their longs to 28%, from 33%.”
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