28 Apr 2015
Stay short EUR/CZK – JP Morgan
FXStreet (Edinburgh) - Analysts at JP Morgan have recommended going short the cross.
Key Quotes
“While inflation numbers surprised negatively in March (0.2% y/y vs. 0.3% consensus), retail sales (Feb), industrial production (Feb) and the C/A (Feb) all surprised positively in recent weeks”.
“We continue to think that there is a very low probability of a re-peg higher I the floor and that the short CZK positioning coupled with improving C/A dynamics (helped by the pick up in European growth) will pressure EUR/CZK towards the floor in the coming months”.
Key Quotes
“While inflation numbers surprised negatively in March (0.2% y/y vs. 0.3% consensus), retail sales (Feb), industrial production (Feb) and the C/A (Feb) all surprised positively in recent weeks”.
“We continue to think that there is a very low probability of a re-peg higher I the floor and that the short CZK positioning coupled with improving C/A dynamics (helped by the pick up in European growth) will pressure EUR/CZK towards the floor in the coming months”.