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Specs net Yen long, first time since Oct 2012 - Nomura

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Bali) - According to the IMM data for the week ended January 5, non-commercial accounts turned net Yen buyers for the first time since October 2012.

    Key Quotes

    According to the IMM data for the week ended January 5, non-commercial accounts bought JPY to the tune of $2.2bn, bringing positioning in JPY to $0.4bn, the first time it has been positive since October 2012. Our real time estimator suggest that a further $2.4bn was bought since, bringing the estimated net longs to $2.9bn.

    USD longs were cut against JPY on the week, with net longs at $34.5bn as of Tuesday, and falling further to $33.8bn as of Friday’s close. This comprised therefore $2.3bn of selling on the week ended Tuesday and a further $0.7bn since.

    CAD positioning was roughly flat, with shorts cut by $0.1bn into Tuesday and $0.2bn of shorts added since. Positioning therefore is estimated to be roughly -$4.5bn currently. This is still shy of the lows from the past few months of -$5.1bn from August of last year, but is still one of the lowest readings in the past year and a half.
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