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Oct 11 - 06:55 PM

EUR: Not Oversold Yet - Credit Agricole

By eFXdata  —  Oct 11 - 03:00 PM

 Credit Agricole CB Research discusses the EUR near-term outlook on the flows front.

"The EUR experienced fresh selling interest last week as well, predominantly driven by Crédit Agricole CIB and IMM flows. Moreover, our FX flow data points to real money investors, corporates and banks’ outflows with hedge funds the only buyers," CACIB notes.

"These flows have pushed the EUR positioning indicator into negative territory but the moves were not aggressive enough to suggest that the EUR is now oversold," CACIB adds.

Source:
Crédit Agricole Research/Market Commentary

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