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CFTC speculative positioning - ANZ

FXStreet (Guatemala) - Analysts at ANZ offered the positioning data is for the week ending 22 September 2014.

Key Quotes:

"The latest CFTC positioning data (for the week ended 22 September) showed that leveraged funds trimmed their net long USD positions by a further USD1.1bn to USD15.5bn.

This could well be a position adjustment right after the US FOMC’s decision to hold on 17 September. Price action since the cut-off date suggests a more upbeat view on the USD with a possible rebuild of long USD positions.

Overall, position adjustments vis-à-vis individual currencies were modest.Leveraged accounts trimmed their net USD longs against the EUR by a small USD0.4bn to USD7.6bn, not fully offsetting the USD1.4bn increase in the previous week. Similarly, leveraged funds reduced their net USD longs against the JPY by USD0.9bn, to USD3.2bn, vs an increase of USD1.3bn in the previous week.

However, they raised their net long USD positions against the CHF by USD0.7bn to USD0.8bn, nearly reversing the USD0.9bn reduction in the previous week.

Leveraged accounts also trimmed their long GBP positions by USD0.2bn to USD2.5bn.

Position adjustments vis-à-vis commodity currencies were a mixed bag. Leveraged funds raised their net shorts in the AUD by USD0.7bn to USD2.7bn, the first increase in five weeks. Similarly, they raised their net shorts in the NZD by USD0.2bn to USD0.7bn, partially reversing the USD0.4bn reduction in the previous week.

However, they continued to trim their net shorts in the CAD by USD0.2bn to USD2.9bn. CAD weakness post the cut-off date suggests that leveraged accounts may have rebuilt their short CAD bets."

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