14 Jul 2015
EUR/USD forecasts are heavily bearish - NAB
FXStreet (Guatemala) - Nick Parsons, analyst at NAB recently outlined their EUR/USD forecasts of 1.07 by September, 1.05 by year-end and on to a low point of 1.03 in Q2 2016.
Key Quotes:
"The Euro Summit agreement does nothing to change our views."
"There is probably enough calm and relief in risk assets globally to keep a Fed tightening very much a live subject for the September 17th FOMC meeting, and although an immediate and highly destabilising Grexit may have been avoided, Europe will pay a high economic price for its now-tainted strategic vision."
"EUR/USD is already over one cent lower than its immediate post-deal high of 1.1197 and we expect further pressure on the euro as grim economic reality trumps political posturing."
Key Quotes:
"The Euro Summit agreement does nothing to change our views."
"There is probably enough calm and relief in risk assets globally to keep a Fed tightening very much a live subject for the September 17th FOMC meeting, and although an immediate and highly destabilising Grexit may have been avoided, Europe will pay a high economic price for its now-tainted strategic vision."
"EUR/USD is already over one cent lower than its immediate post-deal high of 1.1197 and we expect further pressure on the euro as grim economic reality trumps political posturing."