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Oct 26 - 05:55 AM

EUR/USD - Bulls Should Tread Carefully Ahead Of ECB, US Election

By Richard Pace  —  Oct 26 - 03:40 AM
  • EUR/USD bulls should tread carefully as ECB and US election loom

  • ECB may signal dovish intent Thurs, given the downside economic risk

  • Uncertainty over U.S election keeping many on sidelines for now, too

  • USD/CNH, U.S yields and broader USD off recent lows - caps EUR/USD

  • Options weren't betting on sustained gains, despite higher implied vol

  • Vol gains were consistent with increased event volatility, short covering

  • Cheap implied volatility fuelled demand pre U.S election nL1N2HC0HX



EUR/USD 1-3-month implied volatility Click here

EUR=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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