- USD net shorts decline for the second consecutive week on July 29. USD was the best performing G10 currency during the week as crude oil prices dropped and consumer confidence indicators (both Univ of Michigan and Conference Board) surprised to the upside.
- With AUD and NZD the worst performing currencies, mostly on the back of re-ratings of
domestic interest rate expectations, the fall in AUD net longs and NZD net longs did not come as a surprise and these trends will likely continue into next week. - As EUR/USD plummets, EUR net longs flip to net short contracts. EUR net shorts could increase further if domestic data continue to surprise on the downside as experienced during the last two weeks.
IMM Positions: USD Shorts Down as USD Rallies
August 2nd, 2008 · No Comments
Tags: Forex News
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