Analysts continue to believe in the Euro

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Analysts continue to believe in the Euro

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• The euro had its worst week in more than three years. The decline of the euro was mainly caused by the policy agreement between the populist parties in Italy. According to the analysts, however, this does not affect the long-term expectation around the euro.

• Last week it was announced that the Five Star movement and the extreme right Lega are going to lead Italy together. And there were already some strong statements made. For example, the Italians want to achieve a debt write-off of 250 billion euros in Brussels.

Prospects for the Euro still look good

 

• Although the euro may cause more turbulence in the short term, analysts expect the bullish trajectory to remain largely intact. For example, most analysts agree that the eurozone economy will continue to pick up, keeping the European central bank on course to tighten monetary policy.

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• On the graph above, from Bloomberg, it can be seen that ING and Credit Agricole are still optimistic. For example, ING is counting on a $ 1.30 closing position at the end of this year and Credit Agricole expects a $ 1.26 final stand.

• can the euro really stand up?