- Analytics
- News and Tools
- Market News
- GBP/USD could get to 1.20, EUR/USD can trade below 1.05 without positive European data surprises – SocGen
GBP/USD could get to 1.20, EUR/USD can trade below 1.05 without positive European data surprises – SocGen
Kit Juckes, Chief Global FX Strategist at Société Générale, notes that the growth outlook is dominating the FX market.
Growth matters more than central banks
The only positive I can think of for the Euro or Sterling, in a world where growth expectations are the biggest driver of exchange rates, is that expectations about UK and Eurozone growth are already dire relative to the US.
That ought to be enough to prevent a sharp collapse by EUR/USD or GBP/USD (parity for EUR/USD, or GBP/USD down to around 1.15 seems unlikely) but GBP/USD could get to 1.20, and EUR/USD can easily trade below 1.05 easily if we don’t get any positive surprises from the real economy data in Europe soon.
© 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
