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Oh, except for the ‘wishy-washy’ part. It is from me 😉
You will see why.
Goldman Sachs on the upcoming euro:
“The next 6 months look likely to be challenging for the Eurozone, which is expected to keep EUR/USD close to parity. Our economists now expect the Eurozone to be in recession in the second half of this year. point data is already a significant slowdown and further disruptions in production are likely… We believe the recent decline in EUR/USD reflects this shift in the growth outlook, and should expand a little further given continued downside risks to activity from more severe gas disruptions and the possibility of a much deeper downturn,” GS notes.
“…And even if the short-term situation improves a bit, we think the recent disruptions will be enough to drive EUR/USD into a continued downgrade. Our commodity strategists have pointed out that the related uncertainty to weather conditions will be particularly high on the first As a result, we are revising our EUR/USD 3 and 6 month forecasts downwards to 0.99 and 1.02 (vs. 1.05 and 1.10 previously) and making adjustments similar on EUR/GBP (at 0.83 and 0.84, vs. 0.88 and 0.90 previously),” adds GS.