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1 Apr 2015
Morgan Stanley: Trading EUR/USD into NFP – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Morgan Stanley maintains a short position on EUR/USD into the US NFP release, targeting 1.05 levels.
Key Quotes
“MS expects the US jobs report for March to show a gain of 195k (consensus at 250k) in non-farm payrolls with the unemployment rate at 5.6% (consensus 5.5%).”
“Beyond this week's NFP, MS thinks that the combination of low bond yields and falling commodity prices will keep the USD on the top of its long positions list.”
“"Relative to the low-yielding Asian and European currencies, the USD has established a ‘high’ yielding status, benefitting from debt-related, USD-supportive capital inflows," MS adds.”
“Going into this week's NFP, MS maintains a tactical short EUR/USD position from around 1.09 targeting 1.05.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“MS expects the US jobs report for March to show a gain of 195k (consensus at 250k) in non-farm payrolls with the unemployment rate at 5.6% (consensus 5.5%).”
“Beyond this week's NFP, MS thinks that the combination of low bond yields and falling commodity prices will keep the USD on the top of its long positions list.”
“"Relative to the low-yielding Asian and European currencies, the USD has established a ‘high’ yielding status, benefitting from debt-related, USD-supportive capital inflows," MS adds.”
“Going into this week's NFP, MS maintains a tactical short EUR/USD position from around 1.09 targeting 1.05.”
This content has been provided under specific arrangement with eFXnews.