13 Jul 2015
Leveraged funds increased net long USD - ANZ
FXStreet (Bali) - Leveraged funds increased their net long USD positions by USD2.7bn to USD19.9bn, the highest in four weeks, based on the positioning data for the week ending 7 July 2015, reports Irene Cheung, ANZ Research Strategist.
Key Quotes
"Leveraged funds increased their net long USD positions by USD2.7bn to USD19.9bn, the highest in four weeks. This likely reflected net buying of USD on risk aversion after Greece’s ‘No’ vote in the referendum a week ago."
"Much of the increase in net USD longs was seen against the EUR, where net shorts increased by USD1.4bn to USD8.3bn, the highest in four weeks."
"Leveraged accounts also increased their net shorts in commodity currencies. Net shorts in both the AUD and CAD increased by USD0.6bn, to USD2.4bn (highest in ten weeks) and to USD2.1bn (highest in six weeks) respectively."
"Net shorts in the NZD also rose by another USD0.1bn to USD1.1bn, a new high in this episode of NZD sell-off."
"Leveraged accounts reduced their net longs in GBP against the USD, by USD0.5bn to USD4.6bn, the first time in four weeks."
"The main beneficiary of the risk-off sentiment was the JPY, where leveraged funds reduced their net shorts against the USD by USD1.8bn to USD9.2bn, the lowest in three weeks."
"Looking ahead, the key driver this week will be Greek developments, as to whether Greece will meet the demands of the euro area leaders to avert a timeout from the euro area."
Key Quotes
"Leveraged funds increased their net long USD positions by USD2.7bn to USD19.9bn, the highest in four weeks. This likely reflected net buying of USD on risk aversion after Greece’s ‘No’ vote in the referendum a week ago."
"Much of the increase in net USD longs was seen against the EUR, where net shorts increased by USD1.4bn to USD8.3bn, the highest in four weeks."
"Leveraged accounts also increased their net shorts in commodity currencies. Net shorts in both the AUD and CAD increased by USD0.6bn, to USD2.4bn (highest in ten weeks) and to USD2.1bn (highest in six weeks) respectively."
"Net shorts in the NZD also rose by another USD0.1bn to USD1.1bn, a new high in this episode of NZD sell-off."
"Leveraged accounts reduced their net longs in GBP against the USD, by USD0.5bn to USD4.6bn, the first time in four weeks."
"The main beneficiary of the risk-off sentiment was the JPY, where leveraged funds reduced their net shorts against the USD by USD1.8bn to USD9.2bn, the lowest in three weeks."
"Looking ahead, the key driver this week will be Greek developments, as to whether Greece will meet the demands of the euro area leaders to avert a timeout from the euro area."