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Nov 07 - 04:55 AM

EUR/USD - Massive EUR/USD Gamble Requires A Big Change

By Jeremy Boulton  —  Nov 07 - 02:35 AM
  • EUR/USD traders have wagered $13 billion pair rises

  • Traders have sold over 19 billion since ECB's Sep 8 rate hike

  • Long position is similar size to that held when Fed announced taper

  • In June 2021 one-year forward swap 90 pips, now 260 pips fav USD

  • EUR/USD 1.22 Jun 21, and unchanged circa 0.9950 since ECB's Sep hike

  • Sustainable rise needs either bearish techs or fundamentals to change


Source:
Refinitiv IFR Research/Market Commentary

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