FXStreet (Guatemala) - ANZ Strategists, Khoon Goh and HuiYing Chan noted that leveraged funds’ net long USD positioning stayed relatively unchanged after the previous week’s sharp increase, rising slightly from USD15.7bn to USD16.1bn.

Key Quotes

"Increases in USD positioning came courtesy of the commodity currencies and MXN, which were offset by declines in positioning against JPY and EUR."

"Net short positioning in the JPY was reduced by 9.5k contracts worth USD1.1bn to 66.9k for an overall short position of USD8.2bn. Part of this likely reflected ongoing geopolitical tensions in Ukraine."

"Among the commodity currencies, AUD had the greatest reduction in net long positioning, likely a result of the surprising rise in the unemployment rate on 7 August. Net long positions fell by 4.0k contracts (worth USD0.4bn) to 33.6k (worth USD3.1bn)."

"Net short positioning in EUR reduced slightly by USD0.5bn after increasing by USD10.0bn in the prior 3 weeks. Total net short positions now stand at USD17.8bn, still a historically high level."

"Net long positions in GBP continue to be reduced for the seventh consecutive week, dragging on the sterling. Leveraged funds still maintain a large net long position in GBP worth USD8.6bn, suggesting potential for a further unwinding of sterling longs. Since the reduction of net long positions in GBP started seven weeks ago, we have seen a reduction of USD4.2bn net long positioning in GBP as GBP/USD declined from 1.71 to 1.67."

"Net long non-commercial positions in gold increased by 32.1k contracts to 166k. Net long positioning in WTI crude oil fell by 20.8k contracts to 328.2k. This is the seventh consecutive weekly decline in oil positioning since it reached historic highs in late June."

You May Also Like

Related Forex Analysis
  1. Forex News

    Trading Video: Dollar Rate View Cools, Risk and Aussie Dollar Look to Carry Banner

  2. Forex News

    USD/JPY: bulls compromised on commodity weakness

  3. Forex News

    EUR/USD print new lows, en-route to 1.09

  4. Forex News

    Standard and Poor’s Rating Downgrades EU Outlook Amidst Sustainability Fears

  5. Forex News

    USD/JPY finds support at 123.85; back to test

Trading Center

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!