巴黎银行-全球-外汇策略-外汇定位分析-20180219-12页

Pleaserefertoimportantinformationattheendofthereportwww.GlobalMarkets.bnpparibas.comThisdocumenthasbeenproducedby:BNPParibasLondonBranchNatalieRickardFXStrategist?ThemarketremainsveryshortUSDthisweek,withascoreof-38(-/+50scale).?FXinvestorsremainmoderatelylongtheJPYatascoreof+13,thelargestlongsinceMay2017.?Themarkethasbecomemorebearishonthecommoditybloc,becomingshortCADandNZDandremainingshortAUD.?LongNOKpositionshavebeenrebuilttoascoreof+16,thoughFXfundsstillappearshortNOK.Chart1:BNPParibasFXPositioningAnalysis–OverallPositioning*Source:BNPParibas*Thepositioningscoresabovearereportedasapercentilebasedonthepriorfiveyearsofdata.Thesepercentilesarerescaledtogiveavaluebetween-50and+50.Valuesabove40andbelow-40representextremepositions.Tointerpretascoreof-27,forexample,add50togive23.Thistellsusthat