<\/p>\n
\n Share:<\/span><\/p>\n Jane Foley, the Senior FX Strategist and Head of FX Strategy\u00a0at Rabobank’s RaboResearch is out with a note highlighting the risk for a deterioration in Euro-area economics, seeing a case for the EUR\/USD to reach 1.02 over the next quarter.<\/p>\n For the past year, the phrase \u2018sick man of Europe\u2019 has frequently been applied to Germany. There\u00a0would appear to be as many commentators that disagree with this judgement as those that think it appropriate. Both groups, however, tend to concur that Germany needs structural reforms.<\/p>\n The size of Italy\u2019s debt is drawing more attention. The\u00a0country\u2019s far-right government has recently revised up its forecast for Italy\u2019s deficit\/GDP ratio next\u00a0year so that it can meet its manifesto promises. This raises the chances of conflict with Brussels.<\/p>\n Even though we expect the US to fall into technical recession early next year, the likelihood of a\u00a0downturn in both the Eurozone and the US, combined with slow growth for China, suggests that\u00a0the USD will be\u00a0supported by safe haven flows well into 2024. We maintain a forecast of EUR\/USD\u00a01.02 on a 3-month view.\u00a0<\/p>\n According to the OECD, Germany\u2019s economic outlook this year will be the second worst (after\u00a0Argentina) in the group of countries that it assesses. The IMF predicts a -0.5% contraction for\u00a0Germany this year.\u00a0<\/p>\n The ECB recently revised down its forecasts for Eurozone growth significantly,\u00a0though compared with our house view, these still appear optimistic. We expect the Eurozone to\u00a0be in technical recession in H2 this year and for growth next year to be a meagre 0.5%.<\/p>\n<\/blockquote><\/div>\n","protected":false},"excerpt":{"rendered":" Share: Jane Foley, the Senior FX Strategist and Head of FX Strategy\u00a0at Rabobank’s RaboResearch is out with a note highlighting the risk for a deterioration in Euro-area economics, seeing a case for the EUR\/USD to reach 1.02 over the next quarter. Germany\u2019s woes For the past year, the phrase \u2018sick man of Europe\u2019 has frequently […]<\/p>\n","protected":false},"author":2,"featured_media":8593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,257,433,255,250,252,247,253,249,256,254],"class_list":["post-174462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-eurusd","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=174462"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174462\/revisions"}],"predecessor-version":[{"id":174463,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174462\/revisions\/174463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8593"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=174462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=174462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=174462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Germany\u2019s woes<\/h2>\n
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