8 Dec 2014
EUR shorts moderate - Nomura
FXStreet (Bali) - For the week ended December 2, specs bought $1.1bn worth of EUR, bringing total net EUR positioning to -$24.7bn, notes Nomura.
Key Quotes
"For the week ended December 2, non-commercial accounts bought $1.1bn worth of EUR, bringing EUR positioning to -$24.7bn, further off its local lows of -$28.1bn set earlier in November. By Friday's close, we estimate this had fallen to -$25.0bn on $0.3bn of selling."
"Specs sold $0.5bn of USD on the week ended Tuesday, bringing USD net longs to $52.2bn. Our real-time estimates suggest this selling reversed, with specs buying $2.5bn of USD since Tuesday, bringing net shorts to $54.8bn, which would be a new all-time high."
"JPY was sold to the tune of $0.6bn Tuesday to Tuesday, and by an estimated $0.7bn further since. This would bring positioning to -$11.7bn by Tuesday and -$12.4bn by Friday‟s close."
"MXN positioning fell by $0.3bn to reach -$1.5bn by Tuesday. An estimated $0.8bn of further selling since has brought positioning to an estimated -$2.3bn.This would be a new all-time record for MXN shorts (previous record of -$1.8bn set May 2004)."
"GBP, CHF, and NZD positioning at -$3.0bn, -$3.0bn, and -$0.1bn, respectively, are at or near YTD lows."
Key Quotes
"For the week ended December 2, non-commercial accounts bought $1.1bn worth of EUR, bringing EUR positioning to -$24.7bn, further off its local lows of -$28.1bn set earlier in November. By Friday's close, we estimate this had fallen to -$25.0bn on $0.3bn of selling."
"Specs sold $0.5bn of USD on the week ended Tuesday, bringing USD net longs to $52.2bn. Our real-time estimates suggest this selling reversed, with specs buying $2.5bn of USD since Tuesday, bringing net shorts to $54.8bn, which would be a new all-time high."
"JPY was sold to the tune of $0.6bn Tuesday to Tuesday, and by an estimated $0.7bn further since. This would bring positioning to -$11.7bn by Tuesday and -$12.4bn by Friday‟s close."
"MXN positioning fell by $0.3bn to reach -$1.5bn by Tuesday. An estimated $0.8bn of further selling since has brought positioning to an estimated -$2.3bn.This would be a new all-time record for MXN shorts (previous record of -$1.8bn set May 2004)."
"GBP, CHF, and NZD positioning at -$3.0bn, -$3.0bn, and -$0.1bn, respectively, are at or near YTD lows."