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15 Jul 2013
Flash: IMM futures reflects notable build in long USD - HSBC
FXstreet.com (Barcelona) - The latest IMM futures FX positions, as HSBC Global Research Team reports, "show the total long USD positions rose to USD27.7bn in the week ended July 9 from USD22.3bn the previous week, using the cumulative notional USD total of the currency futures contracts that trade on the IMM."
HSBC adds that while the accumulated short positions are still short of the recent aggregate peak of USD37.8bn reached in late-May, "it does reflect what had been a notable build in long USD positions following dovish signals from the July ECB meeting and the better US June labor market report" Bank Analysts note. Lastly, the HSBC Global Research Team notes "these latest figures will not have taken into account the USD’s subsequent pullback on July 10-11."
HSBC adds that while the accumulated short positions are still short of the recent aggregate peak of USD37.8bn reached in late-May, "it does reflect what had been a notable build in long USD positions following dovish signals from the July ECB meeting and the better US June labor market report" Bank Analysts note. Lastly, the HSBC Global Research Team notes "these latest figures will not have taken into account the USD’s subsequent pullback on July 10-11."