This is via the folks at eFX.

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Oh, except for the 'wishy-washy' bit. That is from me ;-) You'll see why.


Goldman Sachs on the euro ahead:

  • "The next 6 months seem likely to be challenging for the Euro area, which is likely to keep EUR/USD close to parity. Our economists now expect the Euro area to be in recession in the second half of this year; spot data are already slowing materially and further production disruptions are likely...We think the recent move lower in EUR/USD reflects this shifting growth outlook, and is likely to extend somewhat further given the continued downside risks to activity from more severe gas disruptions and the scope for a much deeper downturn," GS notes.
  • "...And even if the near-term picture improves a bit, we think recent disruptions will be enough to command an ongoing discount in EUR/USD. Our commodity strategists have highlighted that weather-related uncertainty will be particularly elevated in the first half of winter. As a result, we are revising down our 3m and 6m EUR/USD forecast to 0.99 and 1.02 (from 1.05 and 1.10 previously) and making similar adjustments to EUR/GBP (to 0.83 and 0.84, from 0.88 and 0.90 previously)," GS adds.
eur Goldman Sachs forecast 02 August 2022