Asset managers remained net USD buyers for the fourth straight week – ANZ

The Australia and New Zealand Banking Group (ANZ) recently came out with their analysis of major market performance based on the positioning data is for the week ending on December 03. The key findings suggest that the US dollar (USD) keeps the top long position for asset managers while funds keep selling the New Zealand dollar (NZD) despite recent positive catalysts.

Key quotes

"Leveraged funds reverted to selling USD, while asset managers remained net buyers for the fourth straight week. The stronger than expected US nonfarm payrolls report and a Fed on hold this week could see funds turn net buyers again."

"Fund and asset managers took opposite positions on EUR, GBP, JPY and CHF. While the former bought all four, the latter were net sellers across the board. The upcoming UK elections are a key event to watch out for GBP positioning."

"Funds sold NZD for the third straight week despite the rebound in NZ consumer confidence. The Reserve Bank of New Zealand’s (RBNZ) bank capital decision, which was softer in some aspects, should see some unwinding of NZD short positions. The relative positioning in the Australian dollar (AUD) v/s NZD is at odds with the AUD/NZD cross."