USD longs scaled back, EUR shorts extended - BNPP

Analysts at BNP Paribas lists down the FX positioning analysis data as on 15^th December.

Key Quotes

“USD long positions have been scaled back this week to +10 (on our measure of +/-50). FX funds appear to have built up a short USD position.”

“EUR short positions have been extended to -18; the BNPP Trending Indicator and Risk Reversals Indicator have fallen.”

“The CAD is now the largest long position in the market, with a score of +14, close to its multi-year high of +19.”

“The market appears to have been a seller of the other commodity bloc currencies, with AUD and NOK longs decreasing and NZD short positions increasing.”