"We think the Euro may have finally turned a corner.
We raise 3-month EUR/USD forecast from 1.10 to 1.15, citing the following positive catalysts:
- Improvement in industrial activity.
- Easier financial conditions.
- Lower oil prices.
- Fiscal stimulus.
- Potentially hawkish new ECB president could affect outlooks for rates.
- FX investor positioning quite short the Euro.
However, the EUR/USD pair could face some downside risks, including a downturn in global trade and politics in Italy.”
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