EUR faces headwind from positioning - AmpGFX

The market has moved to a significantly long EUR position, suggesting there may be limited upside for the EUR at this juncture suggest analysts at Amplifying Global FX Capital.

Key Quotes

“The ECB monetary policy meeting on Thursday is now quite widely expected to involve a shift in the governing Council’s risk assessment from negative to essentially balanced.  Such a move may do little to further extend the EUR rally at this time, especially if President Draghi manages to down-play expectations that the council is yet contemplating revising its overall QE or rates guidance.”