Monday, November 9, 2015

CFTC speculative positioning very long dollars - ANZ

FXStreet (Guatemala) - Analysts at ANZ offered the CFTC speculative positioning for the week ending 3 November 2015 and explained that the leveraged accounts increased their net long USD positions by USD6.5bn in the week ended 3 November to USD22.2bn, the biggest long positioning in 11 weeks.

Key Quotes:

"Post the cut-off date, we think that further longUSD positions have been added on the back of remarks from senior Fed officials that a December FOMC is a live meeting followed by a strong payroll report last Friday.

For the week, much of the USD buying came at the expense of the EUR, similar to the previous week. Net short positions in the EUR increased by a further USD4.2bn to USD14.6bn, which was the biggest short since mid-May, as the market continued to see a risk of easing by the ECB at the December meeting."

"Leveraged funds also increased their long USD positions against the CHF after SNB said they will assess the implications of ECB policy. Net short CHF positions rose by USD1.1bn to USD1.3bn, the biggest short in 10 weeks."

"Leveraged accounts raised their net short JPY positions for a second consecutive week, by another USD0.5bn to USD5.2bn, the biggest short in 10 weeks. Although the BoJ did not deliver further easing on 30 October, price action after the US payroll report on Friday suggests that the market has added short JPY positions."

"For commodity currencies, leveraged accounts raised their net shorts in the CAD (by USD0.4bn) for the first time in 5 weeks, but maintained their net shorts in the AUD and NZD at around the previous week’s levels."

"For EM currencies, reflecting the positive view on the USD, leveraged funds trimmed their net longs in the MXN while rebuilding their net shorts in the BRL."
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