15 Jun 2015
CFTC: Specs cut EUR shorts – Nomura
FXStreet (Barcelona) - FX Strategists at Nomura, offer their CFTC IMM positioning data for the week ended 9th June.
Key Quotes
“According to the IMM data for the week ended June 9, non-commercial accounts reduced their EUR shorts through $3.7bn-worth of EUR buying, bringing net positioning to -$19.4bn. This is the least net short EUR had been since July 2014. While we estimate that specs added $0.5bn of fresh shorts since Tuesday, positioning remains around -$20.0bn.“
“Most of the EUR buying came against JPY selling. Specs sold $3.1bn worth of JPY in the week ended Tuesday (although they have repurchased $1.1bn since). Tuesday’s official positioning was therefore -$11.7bn, the most net short since October. Positioning, even after the recent JPY buying, is still -$10.6bn, more net short than most weeks since October.“
“USD positions were relatively unchanged overall, since there was $1.0bn of buying into Tuesday and $1.4bn of selling since. USD net longs are currently estimated at $41.8bn.”
Key Quotes
“According to the IMM data for the week ended June 9, non-commercial accounts reduced their EUR shorts through $3.7bn-worth of EUR buying, bringing net positioning to -$19.4bn. This is the least net short EUR had been since July 2014. While we estimate that specs added $0.5bn of fresh shorts since Tuesday, positioning remains around -$20.0bn.“
“Most of the EUR buying came against JPY selling. Specs sold $3.1bn worth of JPY in the week ended Tuesday (although they have repurchased $1.1bn since). Tuesday’s official positioning was therefore -$11.7bn, the most net short since October. Positioning, even after the recent JPY buying, is still -$10.6bn, more net short than most weeks since October.“
“USD positions were relatively unchanged overall, since there was $1.0bn of buying into Tuesday and $1.4bn of selling since. USD net longs are currently estimated at $41.8bn.”