USD longs added, EUR shorts created – ANZ

Sandeep Kanihama FXStreet Contributor

According to the CFTC’s positioning data for the week ending 26 November 2019, leveraged funds turned USD net buyers while asset managers remained in the buying mode.

Key Quotes

“A downbeat US factory orders print has led to a weak start for the USD this week. Coupled with President Trump renewing pressure on the Fed to cut rates, next week’s FOMC meeting will likely share the focus of the market.”

“EUR and GBP saw broad-based selling. Broad dollar moves have guided EUR lately, while the upcoming UK elections remain critical for GBP. While safe haven currencies JPY and CHF saw broad based selling until last week, the amplification of trade tensions may provide a fresh impetus.”

“Commodity currencies saw combined selling, while in the EMFX space, funds’ buying stance in each of the three currencies was symmetrically opposed to the money managers’ selling stance.”

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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