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13 Apr 2015
Yen positioning closer to neutral - Nomura
FXStreet (Bali) - According to the IMM data for the week ended April 7, and taking also into account Nomura's real-time indicator, the market is the least net short JPY has been since turning negative in October 2012.
Key Quotes
"According to the IMM data for the week ended April 7, positioning in JPY remained short at -$2.5bn, after shorts were cut significantly the week prior. Our real-time indicator suggests that shorts were cut further through Friday, with positioning ending the week at -$1.8bn. This would be the least net short JPY has been since turning negative in October 2012."
"EUR shorts were cut by $1.2bn on the week ended Tuesday. However, our real-time indicator suggests these shorts and more were added into Friday’s close, and positioning ended the week at an estimated -$31.3bn."
"MXN shorts were cut again this week, by $0.2bn, bringing positioning to -$0.8bn. We estimate the shorts were cut to -$0.7bn by Friday’s close. This is the least net short MXN positioning has been since October 2014."
"Specs added to AUD shorts by $1.2bn in the week ended Tuesday, although by Friday they had cut shorts by $1.5bn. Positioning since last Tuesday, therefore, initially fell more short, to -$3.1bn, before returning to an estimated -$1.6bn. This would be the least net short AUD has been since September 2014."
Key Quotes
"According to the IMM data for the week ended April 7, positioning in JPY remained short at -$2.5bn, after shorts were cut significantly the week prior. Our real-time indicator suggests that shorts were cut further through Friday, with positioning ending the week at -$1.8bn. This would be the least net short JPY has been since turning negative in October 2012."
"EUR shorts were cut by $1.2bn on the week ended Tuesday. However, our real-time indicator suggests these shorts and more were added into Friday’s close, and positioning ended the week at an estimated -$31.3bn."
"MXN shorts were cut again this week, by $0.2bn, bringing positioning to -$0.8bn. We estimate the shorts were cut to -$0.7bn by Friday’s close. This is the least net short MXN positioning has been since October 2014."
"Specs added to AUD shorts by $1.2bn in the week ended Tuesday, although by Friday they had cut shorts by $1.5bn. Positioning since last Tuesday, therefore, initially fell more short, to -$3.1bn, before returning to an estimated -$1.6bn. This would be the least net short AUD has been since September 2014."