Goldman Sachs forecasts for EUR/USD - see it lower ahead of ECB meeting

Author: Eamonn Sheridan | Category: Central Banks

Economists at the investment bank have "a tactically negative view on EUR ahead of the June" European Central Bank meeting.

  • US-China trade war to continue as a negative for the euro
  • On today's stay of execution on auto tariffs - GS say a delay was their "base case"
  • ECB is closer to easing than the Federal Reserve is
  • If EM central banks use reserves to defend their currencies, they may need to sell EUR/USD for portfolio rebalancing
  • Support from EUR has come from  covering of EUR-funded emerging-market carry trades 

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