Oil prices rebounded, and hedge funds rose to a record high in New York City

THE RECENT REBOUND IN GLOBAL OIL PRICES HAS BROUGHT THE HEDGE FUND TO AN ALL-TIME HIGH OF 29,582 HANDS, UP FROM 2006. DATA FROM THE COMMODITY FUTURES TRADING COMMISSION (CFTC) INDICATE THAT, AS OF THE WEEK OF 14 JULY, THE NET EMPTY HOLD OF THE DOLLAR HAD INCREASED BY 1907 HANDS. THE EMPTY POSITION CONTRASTS WITH THE RECENT REBOUND OF THE NEW YORK DOLLAR, WHICH IS LARGELY DRIVEN BY THE HAWK POLICY ADOPTED BY THE NEW ZEALAND FEDERAL RESERVE. IN ADDITION, INVESTOR CONCERNS ABOUT THE NEW ZEALAND ENERGY-IMPORTING ECONOMY ARE REFLECTED IN EMPTY BETS. THE ESCALATION OF TENSIONS BETWEEN THE UNITED STATES AND IRAN HAS LED TO A NEW BREAKTHROUGH OF $90 PER BARREL IN CRUDE OIL PRICES, AN OIL PRICE SHOCK THAT COULD FURTHER EXACERBATE THE COUNTRY ' S TRADE BALANCE, AND LAST MONTH THE COUNTRY BARELY AVOIDED A TRADE DEFICIT, WHILE DOMESTIC CONSUMPTION SPENDING DECLINED。