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Flash: AUD/USD positioning for a fall - HSBC

FXstreet.com (Barcelona) - HSBC strategists believe that AUD/USD is positioning for a fall.

They begin by noting that the HSBC Positioning Indicators frequently agree with the speculative positions seen in the IMM data. However, for much of the last year they see that speculative positions in the IMM have shown a bias for fundamental traders to be long AUD/USD, regardless of the price action. They wrote, “This bias appears to be dissipating. If fundamental traders now move en-masse to join the already short momentum traders this will put further downward pressure on AUD/USD.”

Flash: European PMIs head higher - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale writes, “I'm not sure if Sweden is leading indicator of much beyond anti-gnome advertising, but they kicked off Europe's pmis on a positive note.”
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Flash: Bunds meet H&S target, bullish outlook – RBS

Following last weeks Bund performance, the 143.54 head and shoulders target has been reached.
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