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3 Mar 2014
Flash: Specs USD net longs lowest since early November - Nomura
FXStreet (Bali) - For the week ended February 25, spec accounts sold $3.0bn USD, notes Nomura FX Strategists, resulting on net longs down to their lowest levels since early November.
Key Quotes
"JPY was the only other currency sold on the week by non-commercial accounts. Positioning became more net short by $0.7bn, bringing positioning to -$10.4bn, which is the most net short it has been in a few weeks, but not very different from the one-year average."
"Specs bought European currencies in the largest amounts this week, with $0.9bn of EUR and $0.7bn of GBP buying. This brings positioning to $2.4bn and $3.0bn for EUR and GBP, respectively. While this is not very significant for EUR, for GBP it is the most net long it has been since early January of last year. Specs have also continued to add longs into Friday, as net longs increased to $3.1bn."
"AUD is the least net short it has been since November, and NZD is the most net long it has been since November as well. However, in the context of the past year, neither is near an extreme level."
Key Quotes
"JPY was the only other currency sold on the week by non-commercial accounts. Positioning became more net short by $0.7bn, bringing positioning to -$10.4bn, which is the most net short it has been in a few weeks, but not very different from the one-year average."
"Specs bought European currencies in the largest amounts this week, with $0.9bn of EUR and $0.7bn of GBP buying. This brings positioning to $2.4bn and $3.0bn for EUR and GBP, respectively. While this is not very significant for EUR, for GBP it is the most net long it has been since early January of last year. Specs have also continued to add longs into Friday, as net longs increased to $3.1bn."
"AUD is the least net short it has been since November, and NZD is the most net long it has been since November as well. However, in the context of the past year, neither is near an extreme level."