Analysts at Scotiabank explained that there are no major releases scheduled ahead of Friday’s flash PMI’s, leaving the near-term focus centered on headline risk and Brexit negotiations.
"Bullish CFTC EUR positioning has climbed to a fresh multi-year high, at levels last seen in 2011."
"Yield spreads are narrowing in a EUR-supportive manner, measures of implied EUR volatility are softening, and risk reversals are showing a modest premium for protection against EUR strength with the 3 month close to flat and longer-term measures showing a slight (eroding) premium for protection against weakness."
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