2 Dec 2014
CFTC speculative positioning data – ANZ
FXStreet (Barcelona) - The ANZ Research Team shares the positioning data for the week ending 25th November, 2014, while noting that the net long positions in USD increased to a new high of USD 36.6bn.
Key Quotes
“Leveraged funds increased their overall net long USD positioning by another USD0.3bn to a new high of USD36.6bn, though it was the smallest rise in four weeks. The increase in net long USD positioning was led by continued net selling in the GBP (by USD1.4bn) and JPY (by USD0.4bn), but net shorts in the EUR were pared down (by USD1.6bn).“
“After successive paring of net longs in eight consecutive weeks, leveraged accounts had now turned net short in the GBP (USD0.6bn), for the first time since Sep 2013.“
“Net selling in JPY continued for the fourth week post PM Abe’s announcement of a snap election on 21 Nov. Net short positions in JPY increased by US0.4bn to USD7.9bn, the biggest short position in six weeks.”
“In contrast to increased shorts in the GBP and JPY, speculative accounts reduced their shorts in the EUR, by USD1.6bn to a net short of USD18.9bn. This could be due to the release of a strong current account surplus (EUR31bn) in the EZ in September. The EUR has since weakened on continued concerns over risk of deflation and expectation that further easing may be needed.”
“On commodity currencies, it was a mixed bag. Leveraged accounts pared down their net shorts in the CAD (by USD0.4bn) but increased their net shorts in the AUD (by USD0.2bn) and in the NZD (by a slight USD0.03bn). Price action suggests a further increase in net shorts in the AUD in the past week.”
Key Quotes
“Leveraged funds increased their overall net long USD positioning by another USD0.3bn to a new high of USD36.6bn, though it was the smallest rise in four weeks. The increase in net long USD positioning was led by continued net selling in the GBP (by USD1.4bn) and JPY (by USD0.4bn), but net shorts in the EUR were pared down (by USD1.6bn).“
“After successive paring of net longs in eight consecutive weeks, leveraged accounts had now turned net short in the GBP (USD0.6bn), for the first time since Sep 2013.“
“Net selling in JPY continued for the fourth week post PM Abe’s announcement of a snap election on 21 Nov. Net short positions in JPY increased by US0.4bn to USD7.9bn, the biggest short position in six weeks.”
“In contrast to increased shorts in the GBP and JPY, speculative accounts reduced their shorts in the EUR, by USD1.6bn to a net short of USD18.9bn. This could be due to the release of a strong current account surplus (EUR31bn) in the EZ in September. The EUR has since weakened on continued concerns over risk of deflation and expectation that further easing may be needed.”
“On commodity currencies, it was a mixed bag. Leveraged accounts pared down their net shorts in the CAD (by USD0.4bn) but increased their net shorts in the AUD (by USD0.2bn) and in the NZD (by a slight USD0.03bn). Price action suggests a further increase in net shorts in the AUD in the past week.”