Leveraged funds reduce EUR longs – Nomura

In the week ending Tuesday 24 April, leveraged funds scaled back EUR long positions to just 3.2% net-long, notes the research team at Nomura.

Key Quotes

“In late January, EUR long positioning reached one-year highs of 41% of outstanding contracts. Asset managers continued to hold onto EUR longs, now at 54% of outstanding contracts.”

“AUD: Leveraged funds scaled up net-long AUD positions to 17% of outstanding contracts (4% in the prior week). This is still a long way from the one-year high of 80% net-longs reached in late September 2017. NZD longs were also increased, but CAD shorts remained at -47%.”

“GBP: Leveraged funds’ GBP net-long positions are once again close to the one-year high at 57% net long, from 50% previously. Asset managers also scaled back net-short positions to -28% (-33% previously).”

“JPY: Asset managers increased net long positioning in JPY, from 24% to 35% of outstanding contracts. This was the third week of increased net-long positions. Meanwhile, leveraged funds continued to scale back net-longs to 13%.”