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- Goldman Sachs Research discusses the case for downgrading its EUR/USD outlook and now targets the pair at 0.94 in 3 months (from 0.97 previously).
- "For FX markets, the main takeaway from the FOMC meeting last week should be that the Fed acknowledged that "restrictive" is a moving target, and the balance of recent data suggests that target is moving higher still. This matters because policymakers in other jurisdictions have not come close to matching that tone. In recent weeks, we have argued that there is a building case for policy divergence in the Dollar's favour ahead," GS notes.
- "Following some pivotal policy decisions in recent weeks, we now think this has moved from a risk scenario to the most likely path, which is one reason why we downgraded the near-term outlook for EUR/USD " GS adds.