Free Trial

Barclays trade of the week is short...........>

FOREX
FOREX: Barclays trade of the week is short Eur/Jpy. They believe EUR strength in
recent months reflects reduced institutional risks, resumption in market
concerns about the stability of EU institutions or fresh country risks for
Germany and Italy portend EUR downside. Entry Y131.32, take profit Y128.58, stop
loss Y132.69, risk to reward ratio of 1:2.
- Citi have also put out a trade idea to sell Eur/Jpy at Y131.50, target Y128.50
and stop at Y132.75. Citi add Risk aversion still high: Citi Macro Risk Index is
still above 50 (~60 at time of writing) signalling heighted market risk
aversion. This should add support for safe-haven FX such as a JPY ahead of a
week dominated by event risk (Powell's Humphrey Hawkins testimony 27th Feb and
Mar 3rd, Italian Election and SPD Grand Coalition vote on Mar 4th).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.