Leveraged fund’s net long CAD & NZD rises - Nomura

Nomura breaks down the Leveraged Funds / Asset Manager positions as per last Tuesday, May 1Oth, noting that leveraged fund’s net long CAD & NZD saw positions rise.

Key Quotes

CAD: According to the IMM data for the week ended May 10, leveraged funds increased net long positions in CAD (31% of total leveraged funds’ contracts), which is the highest net long position in the last year. On the other hand, Asset Manager’s net long positioning in CAD remained flat at 71.8%.

NZD: Leveraged fund’s net long position in NZD rose for the sixth consecutive week, bringing net long positioning to a high of 52% of total leveraged funds’ contracts.

AUD: Despite the fall in net long positioning in AUD on the week, net longs in AUD remain relatively high (around 59% of total leveraged funds’ contracts), despite an around 7.5% depreciation in AUD against the USD since mid-April.

GBP: Leveraged funds reduced their net short GBP positions on the week, with the current proportion of net shorts at 4%, as of Tuesday this week. This is the lowest level of net shorts since December 2015. Asset Manager’s net short positioning in GBP grew marginally to 89.3%.