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9 Feb 2015
JPY shorts decreased further - Nomura
FXStreet (Bali) - According to the IMM data for the week ended February 3, non-commercial accounts registered the least net short JPY since November 2012, notes Nomura.
Key Quotes
"According to the IMM data for the week ended February 3, non-commercial accounts bought $0.5bn JPY, bringing positioning to -$6.3bn. This is the least net short JPY has been since November 2012. By Friday’s close we estimate this had been cut further to $4.8bn."
"EUR shorts increased by $1.9bn to -$28.2bn as of Tuesday. This is the most net short EUR has been since June 2012, based on official data. Our real time estimator suggests there was more selling since Tuesday, with positioning falling another $0.5bn to -$28.7bn."
"CHF shorts continued to get cut, this week by $0.3bn to bring positioning to -$0.7bn. We estimate there was a further $0.2bn of CHF buying, bringing positioning to -$0.6bn."
"Specs continued to add to AUD shorts with $0.5bn of selling on the week ended Tuesday and a further $0.2bn since. This brought positioning to -$4.4bn by Tuesday and -$4.6bn by Friday. This is the most net short AUD has been in a year."
"USD longs increased by $1.8bn on the week ended Tuesday, rising to $54.5bn. By Friday we estimate that $1.1bn of USD had been sold, bringing net longs back down to $53.4bn. However, USD longs remain near the all-time highs of $55.6bn set in January."
Key Quotes
"According to the IMM data for the week ended February 3, non-commercial accounts bought $0.5bn JPY, bringing positioning to -$6.3bn. This is the least net short JPY has been since November 2012. By Friday’s close we estimate this had been cut further to $4.8bn."
"EUR shorts increased by $1.9bn to -$28.2bn as of Tuesday. This is the most net short EUR has been since June 2012, based on official data. Our real time estimator suggests there was more selling since Tuesday, with positioning falling another $0.5bn to -$28.7bn."
"CHF shorts continued to get cut, this week by $0.3bn to bring positioning to -$0.7bn. We estimate there was a further $0.2bn of CHF buying, bringing positioning to -$0.6bn."
"Specs continued to add to AUD shorts with $0.5bn of selling on the week ended Tuesday and a further $0.2bn since. This brought positioning to -$4.4bn by Tuesday and -$4.6bn by Friday. This is the most net short AUD has been in a year."
"USD longs increased by $1.8bn on the week ended Tuesday, rising to $54.5bn. By Friday we estimate that $1.1bn of USD had been sold, bringing net longs back down to $53.4bn. However, USD longs remain near the all-time highs of $55.6bn set in January."