Goldman Sachs predicts tactical relief for the euro, propelling EUR/GBP higher.

Goldman Sachs analysts paint a positive picture of the euro, offering some relief to bulls while predicting additional gains in EUR/GBP.

April 27, 2022 - 11:57 AM 378 views

Goldman Sachs predicts tactical relief for the euro, propelling EUR/GBP higher.

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© Goldman Sachs predicts tactical relief for the euro, propelling EUR/GBP higher.

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Goldman Sachs analysts paint a positive picture of the euro, offering some relief to bulls while predicting additional gains in EUR/GBP.

The key points to be noted are:

Last week’s European Central Board (ECB) meeting kicked off with a dovish message that said about a policy which was unchanged from the beginning of the year despite the noticeable spikes in the inflation rates that surprise each time.

But, since then, the ECB speakers have emphasised that there might be a possibility of an increase in inflation rates over the summer. During the meeting, President Lagarde warned of adverse risks to the economy's outlook, but recent developments, such as the election of anti-European Macron as president for a second time, have created more positive impacts on the market and on the Euro currency.

On a lighter note, the April PMIs flash reading suggests that the reopening momentum of the services sector will evenly neutralise the impact of the supply chain disruptions in the manufacturing sector. Keeping this in mind, we can see a positive note for the Euro currency, including the upsides of EUR/GBP.

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