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USD specs positioning just shy of all time high - Nomura

FXStreet (Bali) - As Nomura notes, USD positioning is now more net long than at the peak in 2013 and just shy of the $44.9bn all time high.

Key Quotes

"For the week ended September 30, non-commercial accounts bought $2.4bn worth of USD. This brought net longs to $42.5bn. USD positioning is now more net long than at the peak in 2013 and just shy of the $44.9bn all time high."

"Non-commercial accounts bought $2.4bn of USD on the week ended Tuesday. This brought positioning to $42.5bn, near all time highs. Our real time estimate suggests specs added a further $0.8bn since Tuesday, brining estimated positioning to $43.3bn."

"Short positioning in EUR was cut on the week ended Tuesday to -$21.7bn from -$22.8bn, a $1.1bn change. Since then however, we estimate that EUR positioning has fallen again to -$23.0bn after $1.3bn of selling. While significantly short, EUR positioning is shy of the 2 September net short level of -$26.5bn."

"This week was the first time in a while that none of the commodity currencies (AUD, CAD, NZD) had net long positions. AUD positioning fell to -$0.2bn after $0.9bn of selling, NZD positioning fell to $0.0bn after $0.1bn of selling, and CAD positioning fell to -$0.4bn after $0.7bn of selling. Similarly, positioning in MXN fell to -$0.3bn after $0.7bn of selling."

"JPY net shorts increased on the week after $1.7bn of selling, bringing positioning to -$13.8bn, very near the recent low of -$14.0bn."

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