🛢️💱 Commodity Currencies Turned Net Short: Cable FX Macro
- Rosbel Durán
- Sep 25, 2023
- 1 min read
**As seen in IMM Report 09/22/23, subscribe at cablefxm.co.uk/reports
CFTC data showed hedge funds turning net short on commodity currencies, NZD led the drop as % of open interest declined by more than 10pp to -4.8%
The Aussie had seen volatile positioning. The loonie came up from being net short for 21 weeks, now flipped to the most bearish since early July. The kiwi has not been net short since mid-July and positioning is now the most bearish since late March
The trimming of bullish bets lifted leveraged funds' broad dollar net long positioning to the highest since June
All reporting currencies now stand net short vs the dollar, except for the franc and sterling
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