Looks like the SNB is done with its EUR selling, for now at least.

The EUR is also getting a lift after the latest SNB reserve allocation data was published (link is available in members section). The share of EUR in total reserves is back at longer term average numbers, near 48%, which probably means that the SNB is done selling EUR (they have been one of the consistently biggest sellers as they sought to reduce their total EUR holdings after buying large amounts of EUR/CHF). Also of interest is the fact that the SNB has lowered its allocation of GBP and has increased AUD, CAD and AXY.

  1. It’s a good new for EUR this data. This morning, you seem to be bullish for EUR or mild bullish bias ? If I have resumed
    – EUR/GBP : short-term basing patterns
    – EUR/AUD : short-term basing patterns
    – EUR/JPY : above 103.20 (trading range)
    – EUR/USD : trading range with bullish tone ( you have mentionned “the 50-day MA crossed the 200-day MA… Now we’ve had a bullish cross”

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