empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

10.01.202312:36 Forex Analysis & Reviews: Goldman Sachs no longer sees economic recession in the eurozone

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 10.01.2023 analysis

Goldman Sachs no longer sees economic recession in the eurozone after data showed that the region has become more resilient near the end of 2022. Aside from that, natural gas prices have declined sharply, while China abandoned Covid-19 restrictions earlier than expected.

GDP forecast is now revised to +0.6% in 2023, much better than the earlier projection of -0.1%.

However, economists warned that growth may be weak during winter because of the energy crisis. Overall inflation would also fall faster than expected to around 3.25% by the end of 2023.

Exchange Rates 10.01.2023 analysis

"We also expect core inflation to slow due to lower commodity prices, but see continued upward pressure on services inflation due to rising labor costs," they said. "Given more resilient activity, sustained core inflation and hawkish comments, we expect the European Central Bank to tighten significantly in the coming month," they added.

European stock indices are in an upward trend.

Exchange Rates 10.01.2023 analysis

EUR/USD is also bullish, extending its rise for the second month in row.

Exchange Rates 10.01.2023 analysis

Goldman Sachs repeated its call for a half-point interest rate hike at the ECB's February and March meetings, followed by a final quarter-point move in May, which will bring the deposit rate to 3.25%.

Andrey Shevchenko
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off