Goldman Sachs boosts up its euro forecast

GS have raised their 3 month EUR/USD forecast from 1.10 to 1.15 

  • “We think the Euro may have finally turned a corner” 

The note outlines positives for the euro:

  • improvement in industrial activity (better German auto production numbers)
  • easier financial conditions
  • lower oil prices
  • fiscal stimulus  
  • potentially hawkish new ECB president could affect outlooks for rates
  • FX investor positioning quite short euro

For downside risks

  • a downturn in global trade
  • politics in Italy   


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