Failing.
This is an induced EMF not an external current.
The movement produces an EMF, like a battery is an EMF. The EMF then drives a current in an external circuit, if connected.
So if X and Y were connected by a wire. The conventional current would flow from Y to X in the external circuit.
Thus Y is positive and X is negative for the EMF
Think of the induced EMF as a water pump up a cliff. It increase raises the water to the top of the cliff. Once the water is there it will flow down the cliff.
The Induced EMF is the water pump. It moves the positives to +, and negatives to the negative. The ppositives then flow back to the negative in the external circuit.