{"id":560,"date":"2023-05-25T12:19:04","date_gmt":"2023-05-25T09:19:04","guid":{"rendered":"https:\/\/invest24world.com\/?p=560"},"modified":"2023-05-25T12:20:35","modified_gmt":"2023-05-25T09:20:35","slug":"goldman-sachs-doubts-the-bullish-potential-of-eur-usd-confirms-target-at-1-10","status":"publish","type":"post","link":"https:\/\/22-preview.freshtone.ru\/nl\/goldman-sachs-doubts-the-bullish-potential-of-eur-usd-confirms-target-at-1-10\/","title":{"rendered":"Goldman Sachs doubts the bullish potential of EUR\/USD, confirms target at 1.10"},"content":{"rendered":"\r\n<p>After an April that yielded a yearly high of 1.1095, the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/eur-usd\">EUR\/USD<\/a>\u00a0has so far had a rough month of May, with the currency pair dropping to a low of 1.0760 on Tuesday and remaining under pressure on Wednesday, a weakness that analysts at Goldman Sachs attempted to explain in a note published last night.<\/p>\r\n\r\n\r\n\r\n<p>The bank first explained that &#8220;the Dollar\u2019s recent bounce is due to positive developments on both sides of the FX ledger&#8221;.<\/p>\r\n\r\n\r\n\r\n<p>They noted that &#8220;credit conditions have not tightened as much as initially feared in the US,&#8221; which is positive for the dollar, and that &#8220;activity in Europe and China has disappointed robust expectations to start the year,&#8221; which is a bearish factor for the euro.<\/p>\r\n\r\n\r\n\r\n<p>Analysts also felt that the outlook in terms of monetary policy divergence is only marginally supportive of the EUR\/USD, noting that &#8220;although Fed officials have suggested they think they are close to, or possibly even already at, a \u201csufficiently restrictive\u201d policy setting, the ECB has said they think they are not that far behind,&#8221; positions that Goldman Sachs does not consider that divergent.<\/p>\r\n\r\n\r\n\r\n<p>Believing that this backdrop is probably not enough to justify a further rise in the EUR\/USD, the bank pointed out that capital flows also offer only limited support.<\/p>\r\n\r\n\r\n\r\n<p>&#8220;So far, positive yields have been sufficient to stop the outflows from Euro area fixed income, and return to the pre-2014 norm of gradual inflows, but not enough to mirror the speed of the outflows when rate first went negative,&#8221; GS wrote.<\/p>\r\n\r\n\r\n\r\n<p>Goldman analysts further opined that there is little chance of improvement on this front, noting that &#8220;the valuation argument for portfolio reallocation is less compelling than it once was, mostly because of the Euro\u2019s recent rally off the lows.&#8221;<\/p>\r\n\r\n\r\n\r\n<p>In conclusion, Goldman Sachs (NYSE:<a href=\"https:\/\/www.investing.com\/equities\/goldman-sachs-group\">GS<\/a>) has a mixed opinion on EUR\/USD, maintaining a year-end target of 1.10, just over 2% above the current rate, while also expressing doubt that the currency pair can break out of its recent range to reach new annual highs.<\/p>\r\n\r\n\r\n\r\n<p>Source: https:\/\/www.investing.com\/news\/forex-news\/goldman-sachs-doubts-the-bullish-potential-of-eurusd-confirms-target-at-110-3089658<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>After an April that yielded a yearly high of 1.1095, the\u00a0EUR\/USD\u00a0has so far had a rough month of May, with the currency pair dropping to a low of 1.0760 on Tuesday and remaining under pressure on Wednesday, a weakness that analysts at Goldman Sachs attempted to explain in a note published last night. The bank [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpautop"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"nl","enabled_languages":["en","nl","es","sv","fr"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Goldman Sachs doubts the bullish potential of EUR\/USD, confirms target at 1.10 - 24 World<\/title>\r\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Goldman Sachs doubts the bullish potential of EUR\/USD, confirms target at 1.10 - 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