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CIBC Issue New Short EUR/USD Trade Recommendation

EUR

CIBC issue new trade recco:

  • Short EUR/USD at market (they cite 1.1885) to target 1.1600. - They recommend a stop/loss at 1.2010
  • CIBC stress that ECB speakers have been pushing the need to keep financing conditions accommodative for a while now, but the rhetoric has been ramping up in recent weeks.
  • They add that an alternative way to express this view is via 3-month EUR/USD 1.16 strikes as 3M vols are fairly cheap.

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