=> Here we are arguing from the angle that the bearish sentiment on EURO as mentioned in our previous ideas will fade and begin to position into a solid macro narrative. => Qatar has announced an FX swap agreement with Turkey for 15BN this morning, frankly they might as well wave goodbye to this money with Erdogan at the helm. Short-term however this will provide support for EMU based banks. => ECB's Weidmann has begun talking up policy normalisation as expected and on the other side of the coin we have Italy praying for an extension in QE. pascalToday at 10:00 => Concerns over continued pressure on commodity prices is not painting a pretty picture for NOK. Markets have fully priced in the hike coming in September from Norges Bank and we are starting to see smart money taking profits. => We are targeting 9.80 - 9.90 with stops below the recent 9.50 low => Good luck
Kommentar
⋅
We missed targets by a few, well done to any of those on the buy side who managed to book profits in live trading.