Sell in EURAUD
Today, I am in favor of beta currencies as they have strengthened following the employment data from the United States. On the other hand, I am bearish on the Euro as the yields on eurozone government bonds (EGB) were initially declining. However, this trend reversed after remarks made by European Central Bank's (ECB) Governing Council member Martins Kazaks, who dampened market expectations for interest rate cuts in the first half of 2024.
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