The futures positioning data for the week ending 6 Jan 2014, saw leveraged funds increased their overall net long USD positioning by USD1.0bn to register a new record high, notes ANZ.
Key Quotes
"Leveraged funds increased their overall net long USD positioning by USD1.0bn to register a new record high at USD 37.7bn for the second week. Unlike previous weeks where selling was dominated by EUR, GBP and JPY, this week’s increase in USD positioning was driven by selling in the CHF and commodities currencies."
"The biggest contributor for the week was net selling in CHF, totalling USD1.0bn. Net short positioning in CHF increased to USD2.6bn from USD1.7bn (see Figure 6 in PDF). Similarly, commodity currencies saw net selling of a similar amount totalling USD0.8bn, with AUD responsible for USD0.7bn of it. For the second week in a row, NZD bucked the trend among commodities currencies, registering a very small amount of net buying"
"Net selling in the EUR turned muted after three consecutive weeks of selling, with net short positions staying mostly unchanged at USD19.1bn. While EUR/USD continues to register new lows (breaking below 1.18 at one point), it is worth noting that net short positioning remains considerable distance from its historical shorts in June 2012."
"Net buying in JPY and GBP was registered this week, a reversal from previous weeks of net selling. Net short positioning in JPY and GBP reduced to USD8.4bn and USD0.3bn from USD8.9bn and 0.7bn respectively."
Key Quotes
"Leveraged funds increased their overall net long USD positioning by USD1.0bn to register a new record high at USD 37.7bn for the second week. Unlike previous weeks where selling was dominated by EUR, GBP and JPY, this week’s increase in USD positioning was driven by selling in the CHF and commodities currencies."
"The biggest contributor for the week was net selling in CHF, totalling USD1.0bn. Net short positioning in CHF increased to USD2.6bn from USD1.7bn (see Figure 6 in PDF). Similarly, commodity currencies saw net selling of a similar amount totalling USD0.8bn, with AUD responsible for USD0.7bn of it. For the second week in a row, NZD bucked the trend among commodities currencies, registering a very small amount of net buying"
"Net selling in the EUR turned muted after three consecutive weeks of selling, with net short positions staying mostly unchanged at USD19.1bn. While EUR/USD continues to register new lows (breaking below 1.18 at one point), it is worth noting that net short positioning remains considerable distance from its historical shorts in June 2012."
"Net buying in JPY and GBP was registered this week, a reversal from previous weeks of net selling. Net short positioning in JPY and GBP reduced to USD8.4bn and USD0.3bn from USD8.9bn and 0.7bn respectively."
