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Apr 26 - 08:55 AM

EUR/USD - Rally Reflects More Gambling Not Risk Aversion

By Jeremy Boulton  —  Apr 26 - 06:45 AM
  • Stocks weighed following slump for First Republic Bank nL1N36T0MO

  • Apr 26 sees EUR/USD rise 1.0960-1.1055 EBS

  • Traders have staked over $22 billion that EUR/USD rises

  • A rally is the opposite to what would occur if traders were risk averse

  • Paring risk is the first move to make if you are worried

  • You don't add to a potentially crowded bet in a risk averse situation

  • That many traders are making money would heighten likelihood longs pared

  • It's easy to take a profit and wise to do so if situation less certain

  • That EUR/USD is rising is evidence of a growing will to gamble

  • U.S. equities point to a positive future for FX markets nL1N36T0KC

  • The dollar index tells you little about the dollar nL1N36T0V6

Refinitiv IFR Research/Market Commentary


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