29 Apr 2014
USD positioning at lows, AUD at highs - Nomura
FXStreet (Bali) - For the week ended April 22, there were small changes in positioning overall compared with previous weeks, notes Nomura FX Strategy Team.
Key Quotes
"The AUD had the biggest change in positioning as non-commercial accounts bought $0.8bn, with the USD being the most sold currency, with selling by speculative accounts totaling $0.5bn."
"Speculative accounts bought $0.8bn of AUD. This brought speculative positioning to $1.5bn, which is the most net long positioning in AUD has been since April 2013. Since Tuesday, however, we estimate that AUD positioning has declined to $1.1bn."
"USD was sold to the tune of $0.5bn on the week. This brought positioning in USD to -$5.5bn, which is the lowest since February 2013. According to our real time estimator positioning declined further to -$6.3bn by Friday‟s close."
"JPY buying was limited to $0.3bn on the week ended Tuesday. However, we estimate that a further $0.7bn was bough between Tuesday and Friday. This would bring positioning in JPY to -$7.5bn, which is nearly the least net short JPY has been in the past year (least net short positioning was -$7.4bn in October 2013)."
Key Quotes
"The AUD had the biggest change in positioning as non-commercial accounts bought $0.8bn, with the USD being the most sold currency, with selling by speculative accounts totaling $0.5bn."
"Speculative accounts bought $0.8bn of AUD. This brought speculative positioning to $1.5bn, which is the most net long positioning in AUD has been since April 2013. Since Tuesday, however, we estimate that AUD positioning has declined to $1.1bn."
"USD was sold to the tune of $0.5bn on the week. This brought positioning in USD to -$5.5bn, which is the lowest since February 2013. According to our real time estimator positioning declined further to -$6.3bn by Friday‟s close."
"JPY buying was limited to $0.3bn on the week ended Tuesday. However, we estimate that a further $0.7bn was bough between Tuesday and Friday. This would bring positioning in JPY to -$7.5bn, which is nearly the least net short JPY has been in the past year (least net short positioning was -$7.4bn in October 2013)."