Goldman Sachs on what it'll take to break the euro higher

Author: Eamonn Sheridan | Category: News

GS says EUR/USD is 'still on the struggle bus', saying there are three reasons why EUR reversed its post-FOMC gains. 

  1. Brexit-related uncertainty has kicked up again …. weighs on the Euro to some degree
  2. even though market volatility may curtail risk sentiment in the short run, EUR-funded carry trades remain attractive to many investors
  3. March flash PMIs trampled on the "green shoots" of growth that had started to show in some of the Q1 data
What will it take for EUR/USD to break above its recent trading range?
  • a re-rating in Euro area growth prospects … it looks like that has been delayed yet again

GS says EUR/USD is 'still on the struggle bus', saying there are three reasons why EUR reversed its post-FOMC gains. 

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