According to the CFTC’s positioning data for the week ending 12 March 2019, leveraged funds turned net USD buyers after two weeks of net selling, but the buying was not broad-based.
Key Quotes
“EUR witnessed the most selling by funds in the week, reversing net buying from the previous two weeks. This is not surprising, given the 7 March ECB meeting which introduced new stimulus measures and downgraded euro area growth forecasts.”
“GBP price action and positioning will continue to be guided by Brexit related developments in the coming weeks. Funds were marginal net buyers of GBP for the second week in a row while asset managers were net sellers.”
“Funds and money managers took contrary views on commodity currencies in the week, while EMFX saw net selling by both leveraged funds and asset managers.”
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