Economic reports from China and Europe have been disappointing, but for this strategist, they suggest a bullish trade.
That flash PMI report from China was some letdown: apparently Chinese manufacturers still can't get in gear, so to speak. The news from Europe wasn't any better, and markets are responding to the gloomy statistics.
For one strategist, though, the bearish data point to a bullish trade.
Andrew Busch, global currency and public policy strategist at BMO Capital Markets , says the sagging markets, and the risk-off mood among currency traders, has "given us an opportunity for those of us who want to go long euros."
Busch is hoping the euro continues to soften so that he can initiate trade close to the currency's 200-day moving average. The currency's pullback is just part of a predictable pattern, he told CNBC's Scott Wapner.