Analysts at Nomura note that as of the week ending Tuesday 24 July, Nomura’s BIS-weighted USD net-long positioning extended further from 36% to 44%, reaching a 1y high.
Key Quotes
“Asset managers have also remained long USD since the beginning of July, with its current position standing at 5%.”
“JPY: Leveraged funds’ bearish positioning in JPY almost doubled over the week from – 25% to -45% net-long, the lowest value since January. By contrast, asset managers marginally reduced their JPY net-shorts from 13% to 9%.”
“GBP: Leveraged funds increased net-short positions from 4% of outstanding contracts to 14% still well above the 1y lows of -32%. Meanwhile, asset managers kept net-short positioning unchanged at -29% net-long for the third consecutive week.”
“CAD: Leveraged funds also extended CAD net-shorts to 67% net-shorts from 54% previously. The short positioning has been maintained since March and is currently at a 1y low. Similarly, although asset managers remain long CAD at 7% net-long, the positioning remains close to the 1y minimum of -1%.”
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