16 Feb 2015
Specs increase overall net long USD - ANZ
FXStreet (Bali) - The positioning data for the week ending 10 February 2015 saw leveraged funds increase their overall net long USD positioning by USD2.1bn to USD39.9bn, notes ANZ.
Key Quotes
"Leveraged funds increased their overall net long USD positioning by USD2.1bn to USD39.9bn"
"The increase in the USD positioning was likely a function of the strong payrolls released on 6 February 2015. Post the cut off dates, we think some of the USD positioning might have been trimmed due to the weaker than expect retail sales data released on 12 February. Going forward, data on the US front will be key in sustaining the pace of the strong USD theme in the market."
"For the week, the increase in USD positioning was mainly driven by EUR, JPY and commodity currencies."
"Net short positioning in EUR increased to USD21.7bn from USD21.2bn previously. EUR continues to face selling pressure due to uncertainty brought about by Greek deadlines."
"Net short positioning in JPY also increased to USD6.7bn from USD6.2bn previously."
"Commodity currencies took a hit as oil saw renewed selling pressures"
"Net selling of USD0.8bn of commodity currencies was registered in the week. Among them, CAD was hit the hardest, with a net selling of USD0.7bn on the back of the fall in oil prices"
"Post the cut-off date, net selling in CAD would have eased given the stabilisation in oil prices post the cut-off date."
"Net short positioning in CHF saw the first increase in four weeks post the SNB’s decision to abandon the EUR/CHF floor on 15 January. Net short positioning increased by USD0.1bn"
"Comparatively, net positioning in GBP and AUD was relatively unchanged for the week"
Key Quotes
"Leveraged funds increased their overall net long USD positioning by USD2.1bn to USD39.9bn"
"The increase in the USD positioning was likely a function of the strong payrolls released on 6 February 2015. Post the cut off dates, we think some of the USD positioning might have been trimmed due to the weaker than expect retail sales data released on 12 February. Going forward, data on the US front will be key in sustaining the pace of the strong USD theme in the market."
"For the week, the increase in USD positioning was mainly driven by EUR, JPY and commodity currencies."
"Net short positioning in EUR increased to USD21.7bn from USD21.2bn previously. EUR continues to face selling pressure due to uncertainty brought about by Greek deadlines."
"Net short positioning in JPY also increased to USD6.7bn from USD6.2bn previously."
"Commodity currencies took a hit as oil saw renewed selling pressures"
"Net selling of USD0.8bn of commodity currencies was registered in the week. Among them, CAD was hit the hardest, with a net selling of USD0.7bn on the back of the fall in oil prices"
"Post the cut-off date, net selling in CAD would have eased given the stabilisation in oil prices post the cut-off date."
"Net short positioning in CHF saw the first increase in four weeks post the SNB’s decision to abandon the EUR/CHF floor on 15 January. Net short positioning increased by USD0.1bn"
"Comparatively, net positioning in GBP and AUD was relatively unchanged for the week"