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Dec 08 - 06:55 PM

USD: Short-Term Traders Poised To Buy US Bonds And Sell US Equities Between Now & FOMC - Nomura

By eFXdata  —  Dec 08 - 03:00 PM

Nomura Research sees a scope for a trend reversal to sway the market until after the upcoming FOMC meeting in which short-term traders are prone to sell equites and buy US bonds (USD positive) until next week's FOMC policy meeting.

"CTAs relent in their DJIA buying; short-term traders likely to favor technical reversal trades until the FOMC meeting comes around now and the FOMC meeting," Nomura notes.

"In cross-asset markets, trades premised on a reversal to the recent risk rally have become more noticeable. The extent varies from market to market, but we do see signs that overbought assets are being sold while oversold assets are being bought back," Nomura adds. 

Source:
Nomura Research/Market Commentary

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