- Analytics
- News and Tools
- Market News
- EUR/USD to move downward amid recession in the euro area – Commerzbank
EUR/USD to move downward amid recession in the euro area – Commerzbank
Economists at Commerzbank have significantly lowered their EUR/USD forecast. The reason is that the euro is likely to continue to suffer from the risk of a halt to Russian gas supplies and from the relatively hesitant European Central Bank (ECB) monetary policy.
A recession in the euro area will increase pressure on EUR/USD
“We now expect a recession for the euro area, triggered by high energy prices, in turn, a consequence of reduced gas supplies from Russia.”
“For 2023, we expect a partial recovery of EUR/USD when it becomes clear that Europe can meet its energy needs without Russian gas, when energy prices settle down again and when it becomes clear that the ECB resumes its rate hike cycle.”
“EUR/USD: Sep-22 1.00 Dec-22 0.98 Mar-23 0.98 Jun-23 1.02 Sep-23 1.06.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
