21 Nov 2016
USD longs extended significantly, JPY longs cut - BNPP
Research Team at BNP Paribas, lists down the BNP Paribas FX positioning analysis data till 17th Nov.
Key Quotes
“The FX market has extended long USD positioning significantly, since the US election – it’s now the largest long amongst G10 FX with a score of +20. All five of our USD positioning components show a rise in USD long positioning.”
“JPY long positions have continued to be cut last week, with the score moving to a neutral level of +2. Relative USDJPY positioning has now turned long and is at its highest level since mid-2015.”
“The market has extended its short EUR positioning to a score of -14 this week. The fall in the EUR has led to a sharp fall in the BNPP Trending Indicator.”