2 Dec 2014
USD net longs continue increasing - Nomura
FXStreet (Bali) - For the week ended November 25, non-commercial accounts bought $1.7bn worth of USD, bringing USD positioning to $52.8bn, a new all-time high, notes Nomura FX Strategy Team.
Key Quotes
"For the week ended November 25, non-commercial accounts bought $1.7bn worth of USD, bringing USD positioning to $52.8bn, a new all-time high. Since Tuesday, we estimate that speculators added another $1.9bn of USD longs, bringing total net longs to $54.7bn."
"Specs bought $0.7bn of EUR on the week, bringing EUR positioning to -$25.7bn. Our real time estimates suggest this buying reversed, with specs selling $0.8bn of EUR since Tuesday, bringing net shorts back to -$26.6bn."
"GBP was sold to the tune of $0.8bn on the week ended Tuesday, and an estimated $0.2bn more since, bringing GBP positioning to -$3.0bn by Tuesday and -$3.2bn by Monday‟s close. These are new lows since September 2013."
"AUD shorts increased by $0.5bn into Tuesday last week, and an estimated $0.4bn more since, bringing positioning to -$3.8bn by Tuesday and an estimated -$4.1bn currently. This is the most net short AUD has been since February. Non-commercial accounts sold $1.2bn worth of JPY the week ended Tuesday, bringing net shorts to -$11.1bn. JPY has been more net short 25% of the year to date. Positioning also turned less negative since Tuesday with $0.8bn of buying, bringing net shorts to an estimated -$10.3bn."
Key Quotes
"For the week ended November 25, non-commercial accounts bought $1.7bn worth of USD, bringing USD positioning to $52.8bn, a new all-time high. Since Tuesday, we estimate that speculators added another $1.9bn of USD longs, bringing total net longs to $54.7bn."
"Specs bought $0.7bn of EUR on the week, bringing EUR positioning to -$25.7bn. Our real time estimates suggest this buying reversed, with specs selling $0.8bn of EUR since Tuesday, bringing net shorts back to -$26.6bn."
"GBP was sold to the tune of $0.8bn on the week ended Tuesday, and an estimated $0.2bn more since, bringing GBP positioning to -$3.0bn by Tuesday and -$3.2bn by Monday‟s close. These are new lows since September 2013."
"AUD shorts increased by $0.5bn into Tuesday last week, and an estimated $0.4bn more since, bringing positioning to -$3.8bn by Tuesday and an estimated -$4.1bn currently. This is the most net short AUD has been since February. Non-commercial accounts sold $1.2bn worth of JPY the week ended Tuesday, bringing net shorts to -$11.1bn. JPY has been more net short 25% of the year to date. Positioning also turned less negative since Tuesday with $0.8bn of buying, bringing net shorts to an estimated -$10.3bn."