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- EUR/USD set to drop considerably towards the 1.10 level – Nomura
EUR/USD set to drop considerably towards the 1.10 level – Nomura
Economists at Nomura maintains a bearish bias targeting a move towards 1.10 in EUR/USD. They believe the trigger level for a material de-risking is around 1.1434.
Europe faces a tougher winter ahead than the US
"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."
"We doubt EUR/USD will get to 1.1434 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."
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