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EUR/USD to remain in a 0.95-1.00 range in Q3 amid gas crisis – Societe Generale EUR/USD to remain in a 0.95-1.00 range in Q3 amid gas crisis – Societe Generale

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Economic pessimism threatens the Euro – SocGen – Crypto News

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US growth optimism is driving the Dollar higher. Therefore, Kit Juckes, Chief Global FX Strategist at Société Générale, expects EUR/USD and GBP/USD to remain vulnerable. 

Euro and Sterling are hostage to economic data 

I’m not going to pretend there has been a fantastic correlation between growth expectations and EUR/USD moves in the last year, but the relative shift this month is big enough to threaten a fall to EUR/USD 1.05 in the coming weeks. 

As for EUR/GBP, the strong short-covering we saw in the first half of this year came from a correction to over-pessimistic growth expectations, but that support has gone now. Sterling too, is vulnerable against the Dollar here.

 

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