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IMM Positioning: Draghi Catalyses A New Round Of Bearish EUR Bets

Published 09/14/2015, 06:04 AM
Updated 05/14/2017, 06:45 AM

The latest IMM data covers the week from 1 September to 8 September 2015 .

IMM positioning data released on Friday show that speculators re-added bearish EUR bets last week . Measured as a percentage of open interest, the move was the largest single week bearish build since end-June when Tsipras's announcement of a Greek referendum took the markets by surprise. This time the bearish build was catalysed by the 3 September ECB meeting: Mario Draghi's dovish tone renewed market participants' bearish appetitive for the single currency and, consequently, this has returned non-commercial EUR positioning below the 20th percentile.

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