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Oct 31 - 04:55 AM

EUR/USD - Traders Take Gambling To Another Level

By Jeremy Boulton  —  Oct 31 - 03:40 AM
  • By Oct 25 bets EUR/USD rises increased to $9.3 billion from $5.9

  • Bets last similar in July 2021 - long before Fed began to tighten

  • Fed set to hike Nov 2 and Dec 14 with interest rates seen 5% by March

  • ECB deposit rate seen peaking around 2.85% in September, next hike Dec 15

  • Oct 25-27 EUR/USD rose 0.9848-1.0093 encouraging traders to add to longs

  • Oct 28 pair dropped to 0.9928, Oct 31 range 0.9939-65


Source:
Refinitiv IFR Research/Market Commentary

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