- USD net shorts declined from 98,782 contracts on May 6 to 68,940 contracts on May 13. USD (represented by the DXY index) continued to rebound from its late April lows, helped along by surprisingly strong retail sales in Apr. While headline sales were down 0.2%, as expected, sales ex-autos were up 0.5% (cons: 0.2%).
- EUR net shorts continued to decline from the recent peak of 21,315 contracts (Apr 29). While EUR has continued to decline, the pace has been more moderate compared to the decline from near 1.60 to below 1.56 in the week to April 29.
- Net JPY positions became slightly less JPY bullish, while net CHF positions became even more CHF bearish. Going along with this shifts CHF/JPY hit a low of 98.29, lowest since late March and well off the mid-April peak of 102.76.
IMM Positions: USD Shorts Fall on Retail Sales
May 17th, 2008 · No Comments
Tags: United States US Economy
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