Leveraged Funds turn net long AUD and CAD – Nomura

Research Analysts at Nomura elaborate on the FX positioning index heading into a new week, analyzing data from the CFTC COT report.

Key Quotes:

“AUD: According to IMM data for the week ended 24 Jan, leveraged funds turned net long AUD (to 20% net long vs. 11% net short last week).The highest level of net longs in AUD in the last year stands at 67%, which was last seen in April 2016. Similarly, asset managers’ net long positioning in AUD rose on the week to 14% vs. 3% last week.”

“CAD: Leveraged funds’ net positioning in CAD turned net long for the first time since September 2016 (to 12% net long vs. 12% net short last week). Max net long positions in CAD in the last year stood at 41%, which was last seen in May 2016. Asset managers’ net long positions in CAD rose to 59% vs. 57% last week.”