CFTC summary: USD favoured on balance, NZd net bid – ANZ

By FXStreet FXStreet (Guatemala) – Analysts at ANZ offered the CFTC speculative positioning weekly summary for week ending 28th of July 2015.

Key Quotes:

Changes in FX positioning by leveraged funds were generally mixed last week in the lead up to the 29th of July FOMC statement, but favoured the USD on balance. Overall net long USD positions rose by USD0.7bn to USD22bn.

Commodity currencies remain out of favour given the decline in commodity prices. Leveraged funds increased their bearish bets against the loonie by USD1bn to USD3.4bn. Falling oil prices are weighing on CAD, with the surprise contraction in May GDP (released after the CFTC cutoff date) likely to see further increases in net short positioning.

AUD saw further short-selling with net short positions rising by USD0.3bn to USD3.7bn. But NZD recorded its first net buying in six weeks. However, leveraged funds continue to maintain a large net short position in NZD of USD1bn.

Leveraged funds reduced their net short EUR positions by USD0.8bn to USD9.3bn . This is the first time in six weeks that leverage funds have been net buyers of euros.

GBP continues to find favour among leveraged funds, with an increase in net long positions by USD0.3bn to USD4.4bn. Against the USD, sterling …read more

Source:: FX Street