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CFTC speculative positioning summary - ANZ

FXStreet (Guatemala) - Analysts at ANZ explained that leveraged funds increased their net long USD positioning by USD2.1bn to USD17.6bn in the week ending 29 September.

Key Quotes:

"This ends six consecutive weeks of net USD selling. Fed officials talking about prospects for interest rates to rise this year likely contributed to the turnaround in positioning.

JPY and CAD recorded the largest changes in positioning during the week. Leveraged funds increased their yen short positions by USD0.5bn to USD3.7bn, while short positions in the loonie rose by USD0.5bn to USD3.4bn CAD saw net selling for the first time in six weeks.

Changes in positioning among the other major currencies were fairly small. EUR saw its net short position rise by USD0.1bn to USD7.7bn. GBP remains the only currency where leveraged funds are net long against the USD, though for the week this was pared back slightly by US0.1bn to USD2.3bn

The CFTC data did not capture positioning following the weaker-than-expected US ISM and nonfarm payrolls releases. Given the pullback in the USD, particularly following the payrolls data, the next CFTC report will likely see some paring back of USD net long positions, though the extent of it remains to be seen.

AUD managed to buck the trend, with leveraged funds reducing their net short positions by USD0.1bn to USD2.5bn. There was a marginal increase in net short positions against the NZD."

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