EUR liquidity- a taste of things to come
Liquidity was understandably poor this morning, as it always is on a Monday morning, but I think we can start getting used to these nasty gaps. There will be many more comments on Greece EU membership, EZ QE etc and with market-makers changing their pricing techniques we can expect plenty more ‘gappy’ markets.
Selling rallies in the EUR crosses is still the way to go, especially in the next 2 weeks as we approach the ECB meeting and the Greek election. I’d also definitely avoid EUR/CHF, way too risky.