Trade recommendation from BNP Paribas
Analysts at BNP Paribas said the more dovish ECB is a signal to sell the euro. The suggest selling it at spot (1.0830) with a target at 1.0400 and a stop at 1.1005.
They note that his message was similar to when he spoke in October and that was followed by a December ease.
For me at the moment the euro trade is less interesting than the overall risk trade and the potential here for a big bounce in the beaten down group of oil, stocks, GBP and commodity currencies.
