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31 Dec 2014
Repositioning ahead of 2015 – Nomura
FXStreet (Barcelona) - The Research Team at Nomura shares the FX positioning data for the week ended December 23.
Key Quotes
"For the week ended December 23, non-commercial accounts bought $6.6bn of USD. This reverses a large portion of the USD selling in the week prior, although positioning is still off of its highs set in November. In general, much of the position clearing in the prior week was reversed as USD was bought while EUR, CHF, and JPY were sold."
"Specs bought $6.6bn of USD on the week ended Tuesday, bringing USD net longs to $46.4bn. Our real time indicator suggests specs added a further $1.5bn in longs, bringing positioning to $48.0bn.
EUR was sold to the tune of $2.5bn on the week. This brought positioning back down to -$22.3bn, and a further estimated $0.9bn of selling since has brought positioning lower to -$23.2bn."
"Non-commercial accounts jumped back into CHF shorts, with $1.7bn of selling on the week. This reversed much of the buying in the week prior, and brought positioning in CHF back to -$2.1bn."
"MXN shorts increased with $0.4bn of selling on the week ended Tuesday and a further $0.3bn of selling since. This brought estimated positioning to -$2.5bn. This is a new low for positioning in MXN."
Key Quotes
"For the week ended December 23, non-commercial accounts bought $6.6bn of USD. This reverses a large portion of the USD selling in the week prior, although positioning is still off of its highs set in November. In general, much of the position clearing in the prior week was reversed as USD was bought while EUR, CHF, and JPY were sold."
"Specs bought $6.6bn of USD on the week ended Tuesday, bringing USD net longs to $46.4bn. Our real time indicator suggests specs added a further $1.5bn in longs, bringing positioning to $48.0bn.
EUR was sold to the tune of $2.5bn on the week. This brought positioning back down to -$22.3bn, and a further estimated $0.9bn of selling since has brought positioning lower to -$23.2bn."
"Non-commercial accounts jumped back into CHF shorts, with $1.7bn of selling on the week. This reversed much of the buying in the week prior, and brought positioning in CHF back to -$2.1bn."
"MXN shorts increased with $0.4bn of selling on the week ended Tuesday and a further $0.3bn of selling since. This brought estimated positioning to -$2.5bn. This is a new low for positioning in MXN."