Leveraged funds scaled back JPY longs and turned neutral on AUD - Nomura

Sandeep Kanihama FXStreet Contributor

In the week ending Tuesday, 17 April, leveraged funds cut long JPY positioning to 19% from 26% the previous week, notes the research team at Nomura.

Key Quotes

“The 1y-high JPY net-long position is 36%, recorded in April. In contrast, asset managers increased long JPY positioning from 21% to 24%.”

“GBP&EUR: Sterling net long positioning fell from 55% to 50%, maintaining a level somewhat close to the 1y high of 59% recorded in February. However, leveraged funds added longs to EUR positions, increasing to 18% from 16% the previous week. Leveraged funds had reached 41% net-long EUR in January.”

“CAD&AUD: Leveraged funds scaled back short CAD position from 56% to 47%. The 1y high in CAD net-short positioning is 69%, recorded in May. On the other hand, leveraged funds are now almost naturally neutrally positioned on AUD, reducing netlongs from 19% to 4%.”

“USD: Our BIS volume-weighted proxy shows that leveraged funds slightly decreased net short USD positioning from 19% to 17%. Net short positioning has been maintained since January 2018.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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