“We Reduced Our Short In The Euro” – Did Goldman Just Hint Draghi May Do Nothing Next Week

Jon Alternative Media, Blogosphere, Economy

Over the past year, there has been no stauncher supporter of the short-EUR trade than Goldman: so staunch in fact that Goldman’s top trade for 2015 was basically a short EUR trade (which however ended up being a total loss for anyone who put it on because the EUR did not drop as fast as Goldman had expected as we noted last week).
Which is why we were surprised that with the Euro plunging again today in the aftermath of the latest ECB trial balloon via Reuters, and sliding to a new 7 month low below 1.05, Goldman came out with a sales piece in which it is said that the firm has “reduced our short in the euro versus US dollar as central bank actions are increasingly priced in to both markets.” In other words, unlike a year ago, this time the EUR had fallen faster than Goldman expected.

This post was published at Zero Hedge on 11/25/2015.