ECB President Mario Draghi's press conference today was a stark reminder that despite the ECB's bond-buying program, euro-zone growth isn't turning around any time soon. That will open the door to further euro-zone rate cuts and potentially push the euro to $1.21 by March 2013, says Carl Forcheski of Societe Generale. He also sees US policymakers hammering out a deal on the fiscal cliff. A deal will unleash a wave of US economic activity that had been sidelined by uncertainty, ultimately helping the dollar, Forcheski contends. EUR/USD last at 1.2955, down 0.9% on the day.
Find us on Google+
No comments:
Post a Comment