Leveraged funds sold USD while asset managers bought for the second straight week – ANZ

On early Monday, the Australia and New Zealand Banking Group (ANZ) published their regular analysis based on the positioning data for the week ended on November 19. The report cites the contrasting views of leveraged funds and asset managers as far as the US dollar (USD) positions are concerned.

Key quotes

“Leveraged funds sold USD while asset managers bought for the second straight week. USD has been alternating between strength and weakness lately.”

“We expect positioning to remain volatile on the back of incoming US data and trade deal-related news flows.”

“Funds and asset managers continued with their opposite stances on Euro (EUR); the former bought while the latter sold. Funds turned to selling the British Pound (GBP) while asset managers remained buyers.”

“Broad weakness in November PMI dampened EUR and GBP late last week. On safe-haven currencies, funds bought Japanese yen (JPY) while asset managers sold both JPY and Swiss Franc (CHF).”

“Commodity currencies saw overall selling by both, led by the Canadian dollar (CAD). Funds also sold the New Zealand dollar (NZD), while money managers bought NZD and sold the Australian dollar (AUD). EMFX positioning saw little changes, with only asset managers selling Brazilian real (BRL).”