Leveraged Funds turn net long JPY and net short EUR positions rise – Nomura

The research team at Nomura notes that according to IMM data for the week ended 18 April, leveraged funds’ net long positioning in JPY rose (to 20% vs. 9% last week).

Key Quotes

“Max net long positioning in the past year reached 57%, which was last seen in September 2016. Asset managers’ net short JPY positioning was stable at around 36%.”

“EUR: Leveraged funds’ net short positioning in EUR rose for the third week (to 48% vs. 45% last week). Max net shorts in the past year reached 75%, which was last seen in August 2016. Asset managers’ net long positioning in EUR remained stable at around 21%.”

“GBP: Leveraged funds’ net short positioning in GBP fell (to 32% vs. 46% last week). This is the lowest level of net short positioning in GBP since December 2016. Similarly, asset managers’ net short positioning fell to 73% vs. 80% last week.”

“MXN: Leveraged funds’ net long positions in MXN rose for the third consecutive week to 39% vs. 20% last week. This is the highest level of net long MXN positioning in the past year. Asset managers’ net long positioning in MXN fell marginally to 91% vs. 93% last week.”