FXStreet (Guatemala) – Analysts at ANZ offered the CFTC positioning data for the week ending 21 July 2015.
Key Quotes:
“Leveraged funds further increased their net long USD positions by another USD2.1bn, to USD21.3bn, the highest in six weeks. This should not come as a surprise as Fed’s Chair Yellen said during her testimony to the Congress on 15 July that the central bank is looking to hike rates some time later this year.
The increase in net long USD positions was broad-based, against the EUR, JPY, AUD and NZD, while net longs in the GBP were trimmed.
Leverage accounts raised their net shorts in the EUR by another USD0.9bn to USD10.0bn, the highest in six weeks. This came after the Greek government passed the bailout package.
In the meantime, leveraged funds rebuilt their net short JPY positions by USD0.7bn, to USD6.9bn, reversing a reduction in net shorts in the previous three weeks on risk aversion relating to the Greek crisis.
For commodity currencies, leveraged funds further raised their net shorts in AUD by another USD0.3bn to USD3.4bn, the highest in 13 weeks. Net shorts in the NZD rose only marginally by USD0.01bn to USD1.13bn, nonetheless the biggest net short position in this cycle of NZD sell-off.
Net short CAD positions were however reduced by USD0.2bn to USD2.4bn. However, price action suggests that net CAD shorts could have increased again post the 21 July cut-off, on a slump in commodity prices.
For the GBP, leveraged accounts remained net long though having trimmed their longs by USD0.3bn to USD4.1bn, reversing the gain in the previous week.”
(Market News Provided by FXstreet)