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- Goldman Sachs downgrades three-month EURUSD forecast to 0.9400 from 0.9700
Goldman Sachs downgrades three-month EURUSD forecast to 0.9400 from 0.9700
Research Analysts at Goldman Sachs (GS) cut down their EURUSD forecasts in the latest report, published late Monday. That said, the investment bank now expected the major currency pair to reach 0.9400 in the three months versus 0.9700 previous expectations.
While citing the reasons, GS said that 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 the 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 favor ahead,” adds Goldman.
Additionally, the US bank also mentions, “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 EURUSD.”
Also read: EURUSD struggles to defend 1.0000 level ahead of Eurozone Retail Sales, US inflation
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