- Analytics
- News and Tools
- Market News
- Euro bulls may need softer US GDP data more than they need hawkish comments from the ECB – SocGen
Euro bulls may need softer US GDP data more than they need hawkish comments from the ECB – SocGen
What the Euro needs, is not a hawkish ECB as much as a better growth outlook, Kit Juckes, Chief Global FX Strategist at Société Générale, says.
It is more about growth than what the ECB says
What matters for the Euro now, are expectations about growth, rather than monetary policy.
The correlation between relative rates and EUR/USD was much stronger in H1 2023 than in H2, but the reverse was true of the correlation between EUR/USD and relative growth expectations, which strengthened in H2 and may remain dominant.
US Q4 GDP data are probably more market-moving than anything that’s happening in Europe. Consensus is at 2%, SG at 1.9%.
© 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
