The Australian and New Zealand Banking Group (ANZ) analysts offer their take on the fx positioning data for the week ending 16 July 2019.
“Leveraged funds were net buyers of USD for the second week, though it was mixed across different currencies. There was no obvious theme to the positioning changes during the week. JPY saw the largest selling, while CAD recorded the biggest net buying with funds turning overall net long in the Loonie.
Demand for commodity currencies was strong from the real money side. Asset managers increased their overall net long CAD position to a new record high, while also reducing their short exposures in AUD and NZD.
The USD has been oscillating as market participants reacted to comments from Fed officials. With a July rate cut priced in, near-term positioning will hinge on expectations of further cuts.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.