USD longs and EUR shorts reduced - Nomura

By FXstreet.com | Updated August 17, 2014 AAA

FXStreet (Bali) - In the last CFTC report, Nomura notes a reduction in USD longs and EUR shorts for the week ending Tuesday, August 12th.

Key Quotes

"For the week ended August 12, non-commercial accounts reduced USD longs by $1.1bn and EUR shorts by $0.5bn. This is a pause from the trend over the past few weeks where speculators added sharply to USD longs and EUR shorts, and bringing positioning to highs and lows of the year for USD and EUR respectively."

"Speculative accounts bought $1.7bn of JPY, bringing net positioning to -$9.9bn from a five month low of -$11.6bn the previous week. We estimate that they added $0.4bn of shorts since then however, returning positioning to -$10.4bn."

"MXN net longs were cut by $1.2bn to $0.0bn from $1.2bn. This is the first time MXN has not been net long since March. Based on real time indicators, we believe that speculators did add $0.7bn of net longs by Friday‟s close, however."

"CHF remains in short territory, with -$2.4bn of net shorts as of Tuesday, despite speculative buying of $0.2bn on the week. Since Tuesday we estimate that speculators sold $0.1bn of CHF to return CHF positioning to -$2.5bn. CHF shorts were last near this level in June 2013."

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