Commerzbank: The Euro's recovery potential may remain limited for some time
According to Golden Ten Data on June 29, Commerzbank analyst Michael Pfister stated in a report that the euro against the US dollar may take some time before seeing a substantial recovery. He mentioned that as inflation in the eurozone likely peaked in May, markets are unlikely to bet on further rate hikes by the European Central Bank. Data expected on Wednesday is anticipated to show a slight easing of inflation in June as energy prices fall. He said that since there are currently no decisive events prompting the market to price in additional Federal Reserve rate hikes, the US dollar is also expected to remain strong. "Therefore, it may take quite a long time for the EUR/USD exchange rate to return to the pre-war level of 1.18."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Blackstone (BX.US) injects up to $1.5 billion, providing fresh ammunition for Pfizer (PFE.US) in the weight-loss drug race
Pfizer announced on Wednesday that it has reached an agreement with Blackstone to obtain up to $1.5 billions in funding to support the development of its experimental monthly obesity treatment drug.
Bernstein Downgrades Nvidia Rating and Target Price
Google (GOOGL.US) DeepMind launches AlphaGenome 2: Capable of decoding DNA cells with nearly double the mutation identification capacity
Google DeepMind has released its AI model AlphaGenome 2, which is trained on maps of over 100 millions of cells and has nearly double the ability of its predecessor in identifying gene expression variations.
Crypto prices
More
