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May 04 - 05:55 AM

EUR/USD - 1.11 Option Expiry For Friday's NY Cut Is Huge

By Rob Howard  —  May 04 - 03:40 AM
  • There is a 2.5 billion euro 1.1100 option expiry for Friday's 10am ET NY cut

  • Big 1.1100 expiry today too. 1.1100 is also a mooted option barrier level

  • EUR/USD was last at 1.1100 in March 2022 (1.1096 was EBS high last week)

  • Offers pre-1.11 capped EUR/USD gains on Wednesday (post-Fed) and in Asia

  • EUR/USD might vault 1.1100 if ECB raises rates by 50 bps at 1215 GMT

  • 25 bps ECB hike is consensus expectation. US NFP data due Friday; 180k f/c

Source:
Refinitiv IFR Research/Market Commentary

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