EUR 'seems unable to get any respite'

Author: Eamonn Sheridan | Category: News

A summary on the euro from late last week (via INg):

Not many reasons to be cheerful (for now)
  • euro seems unable to get any respite
  • stream of weak EZ and German activity data
  • another hit by the across the board downward revision of European Commission growth forecasts for major EZ countries
  • Italy in particular ... 2019 growth forecast slashed to 0.2% (in turn suggesting renewed fiscal concerns ahead)
For the currency:
  • With the current mild rebound in USD under way, we continue to look for lower EUR/USD …  towards the 1.12 level

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