Morgan Stanley Suggests Shorting the EUR/USD With an Eye Toward 0.9700.

The primary currency pair is expected to touch 0.9700 on the downside, according to Morgan Stanley analysts, who remain pessimistic about the Eurozone's economy.

July 18, 2022 - 11:14 AM 252 views

Morgan Stanley Suggests Shorting the EUR/USD With an Eye Toward 0.9700.

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© Morgan Stanley Suggests Shorting the EUR/USD With an Eye Toward 0.9700.

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The primary currency pair is expected to touch 0.9700 on the downside, according to Morgan Stanley analysts, who remain pessimistic about the Eurozone's economy.

Important Quotes

"We become categorically pessimistic on the EUR and advise EUR/USD shorts aiming for 0.97. With petrol prices rising, economic indicators deteriorating, and inflation remaining high, the prognosis for the Eurozone appears to be getting more and more difficult.

"The likelihood that European countries won't have enough natural gas stored in advance of the winter's peak demand appears to be increasing, which could lower market expectations for future growth. Although this trend is unlikely to take off very soon, in the long run (2023+), ECB normalisation may curb fixed income outflows, boosting the currency."

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