Morgan Stanley mid term is still bearish on Euro target

Morgan: interim is still bearish on the euro target 1.07 global foreign exchange February 19th — Morgan Stanley (Morgan Stanley) on Friday (February 19th) said in a weekly customer, risk sentiment material further warming background, should do more than the U.S. dollar against the traditional financing currency, the dollar high short interest arbitrage currency. The bank’s view is as follows: the risk appetite is further warming, which will benefit foreign exchange with higher return. The Fed’s stability, rising commodity prices and U.S. economic data steady means from two aspects: the dollar trading dollar long traditional financing currency, the dollar high short interest arbitrage currency. As the downside risk of the euro has risen, the current profits may be far ahead of expectations. The rise in the cost of bank financing may increase the consolidation pressure on the balance sheet and tighten the credit standard. So the ECB needs more boost. In the latest round of the rise, the euro has a negative correlation with risk appetite, but this association may begin to weaken. Eurozone credit concerns may break the negative correlation between the two, as seen in 2008 and 2011. Despite the strategic bullish risk sentiment shown last week, the euro remains bearish in the medium term. In addition, Morgan Stanley in the strategic portfolio from 1.1360 short Euro dollars, revised stop at 1.1210 level, the target to see the 1.0700 line. Global currency exchange center showed that Beijing time 14:28, Euro dollar 1.112425. Enter Sina Financial shares] discussion

大摩:中期仍看跌欧元 目标下看1.07   环球外汇2月19日讯–摩根士丹利(Morgan Stanley)周五(2月19日)在客户周报中指出,风险情绪料进一步升温背景下,宜做多美元兑传统融资货币,做空美元兑高套息货币。   该行观点如下:   风险情绪料进一步升温,将令较高收益率外汇尤为受益。美联储维稳,商品价格的上涨及美国经济数据的持稳意味着可从两方面交易美元:做多美元兑传统融资货币,做空美元兑高套息货币。   由于欧元下行风险已提升,当前持仓盈利可能远超出预期。银行融资成本的上涨可能增加了资产负债表的整合压力,令信用标准收紧。因此欧洲央行需带来更多提振。      在最新一轮上涨中,欧元与风险偏好维持负相关关联,不过这种关联可能开始走弱。欧元区信贷忧虑可能打破二者间的负相关关联,如2008年和2011年所见一样。   尽管如上周所陈述,策略性看涨风险情绪,但中期仍看跌欧元。   此外,摩根士丹利在策略组合中自1.1360做空欧元 美元,修正后止损设于1.1210水平位,目标下看1.0700一线。   环球外汇行情中心显示,北京时间14:28,欧元 美元报1.1124 25。 进入【新浪财经股吧】讨论相关的主题文章:

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