In Nomura Securities Dealers maintained a negative outlook for EUR / USD and despite modest correction after the actions of the ECB predicted a sharp drop.
The International Monetary Fund endorsed the decisions of the ECB, but according to Nomura, the scenario with a decline to EUR is now even more likely because the ECB now apparently is not ready for more extensive stimulus, the Fed keeps a firm course toward tightening monetary policy while China has stabilized and continues to structure the yuan as 100% - controlled currency.
Despite yesterday's correction (which has already started to fade) and expected speculations and volatility around today's US Nonfarm Payrolls, Nomura Securities recommended short positions in EUR and longer-term support post for an upcoming full parity in EUR/USD in the Q1 - Q2 2016.
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