EURUSD has been hovering around 1.10 over the last few sessions and the pair seems to be waiting for a bit more guidance. There is plenty of guidance to come this week with the Fed on Wednesday, ECB on Thursday and the monthly his nonfarm payrolls print on Friday. There are a lot of moving parts, but after the continuously hawkish tone from ECB speakers over the past couple weeks and the RBA surprise overnight, ECB might be a tad underpriced at 30bp currently. Hence my slight bias to buy EUR on dips.
- UBS Strategy
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