NZD/USD speculators back to neutral – Westpac

Sandeep Kanihama FXStreet Contributor

NZD/USD futures speculators significantly reduced their long positions in August and September, and are now in a near neutral state, notes Imre Speizer, Research Analyst at Westpac.

Key Quotes

“The extreme long positioning at the end of July was a good signal that the NZD was vulnerable to a correction.”

“The unwind can be attributed mainly to a tentative recovery in the US dollar, as well as nervousness about a change of NZ government.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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