CFTC: leveraged funds’ / asset managers’ balance breakdown - Nomura

Analysts at Nomura offered a breakdown of recent FX positioning.

Key Quotes:

"EUR: According to IMM data for the week ended 30 August, leveraged funds’ net short positioning in EUR fell for the third consecutive week (to 59% vs. 65% last week). The high in net shorts was recorded three weeks ago at around 75%. Asset managers’ net long positioning in EUR was lower at around 12%.

JPY: Leveraged funds’ net long positioning in JPY rose for the fourth consecutive week as of Tuesday (to 52% vs. 49% last week). We are slowly approaching the highest net long positioning in JPY in the last year (56%). Asset managers’ net short positioning in JPY rose on the week, to 13%.

CHF: Leveraged funds’ net short positioning in CHF fell for the second consecutive week (to 13% from 38% last week). The highest net short positioning in CHF in the last year is 66%, which was in December 2015. Asset managers’ positioning turned net short on the week (9.5%).

GBP: Net short positioning by leveraged funds in GBP fell for the second consecutive week (to 55% of total leveraged funds’ contracts vs. 58% last week). The one-year high net short positioning in GBP stands at 61%, which was last seen two weeks ago. Asset managers’ net short positioning in GBP was fell on the week to 72%."