A hold is widely expected for the July ECB meeting. The meeting will not offer much action for the Euro (EUR), and we’re biased towards a weaker EUR, TDS macro strategists note.
A hold is widely expected for the July ECB meeting. The meeting will not offer much action for the Euro , and we’re biased towards a weaker EUR, TDS macro strategists note. FX portfolios are biased towards a weaker EUR “A hold is widely expected for the July meeting, in line with ECB speak and roughly in-line data. We do not believe the GC thinks a softer tone is needed to keep a September cut on the table. Instead, we expect language to be roughly unchanged relative to June.
” “We don't think the July ECB meeting will offer much action for the EUR. However, we think that G10FX, especially the likes of EUR and the Pound Sterling , are getting back to attractive fade levels. For medium-term investors, we think 1.09 is a great entry level to fade and, more tactically, we like EUR funded carry trades through July and early August.” “Our thematic FX portfolios are biased towards a weaker EUR, underscoring shorts in the growth, carry, equity, and risk baskets.
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