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Dec 08 - 02:55 PM

EUR/USD: The Trigger Level For A Material De-Risking Is Around 1.1434 - Nomura

By eFXdata  —  Dec 08 - 01:30 PM

Nomura Research discusses EUR/USD outlook and maintains a bearish bias targeting a move towards 1.10.

"We suspect that buying pressure may already be over as Europe faces a tougher winter ahead than the US and UK with higher levels of naturally acquired immunity. Positioning amongst CTAs is short EUR/USD, but we believe the trigger level for a material de-risking is around 1.1434," Nomura notes. 

"We doubt EUR/USD will get there as US inflation data this week could yield another positive surprise...We remain short in EUR/USD in spot, looking for a move towards 1.10," Nomura adds. 

Source:
Nomura Research/Market Commentary

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