Goldman Sachs Maintains Short EUR/CAD Position Before ECB Meeting

Monday, 8 April 2024, 14:52

Goldman Sachs holds a bearish outlook on EUR/CAD, targeting 1.44 amid expectations for the ECB meeting and future data releases. While Euro stability around 1.08 persists, Goldman anticipates downside risks for EUR/USD due to US outperformance and the Euro's funding appeal. The firm recommends a short position on EUR/CAD based on current market dynamics and growth differentials, signaling caution for Euro trades.

https://store.livarava.com/e4c5da33-f5b7-11ee-897e-87cc5c87fb08.jpg — Goldman Sachs Maintains Short EUR/CAD Position Before ECB Meeting

Key Points:

EUR/USD Stability: The 1.08 level holds amidst balanced forces
ECB Meeting Focus: June data pivotal for rate cut decisions
Growth Expectations: US strength contrasts with Euro stability

Trade Recommendation: Goldman's short EUR/CAD aims at 1.44 due to prevailing market conditions.

Conclusion

Goldman Sachs advises caution on EUR/CAD towards 1.44 amid ECB analysis and market dynamics. US growth outperformance offsets Euro strength, influencing the bearish stance and funding attractiveness. Consider Euro trading carefully.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Key Points:

Conclusion

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