Leveraged funds turned overall net long JPY for first time since mid-June 2018 - ANZ

Anil Panchal FXStreet

As per the ANZ bank’s latest research on the Commodity Futures Trading Commission’s (CFTC) positioning data for the week ended on June 18, leveraged funds turned overall net long JPY for the first time since mid-June 2018.

It was further mentioned that the Euro (EUR) funds and asset managers take opposite stances, the former cutting their net EUR shorts while the latter pared their net EUR longs whereas Commodity currencies say new buying by leveraged funds, but broad-based selling by asset managers.

Additionally, the report said that the US Dollar (USD) was heavily sold off by leveraged funds ahead of the FOMC meeting. Asset managers were largely broad-based net USD buyers.

The bank cites the G20 Osaka summit on 28-29 June as the next major event risk which will drive further positioning changes.

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Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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