U.S. vs. Non-U.S. Equity and U.S. vs. Europe Equity and Real Trade-Weighted US Dollar Index The start of 2025 marks a significant pause-and possible reversal-in U.S. equity exceptionalism. Whether this is a temporary pause or a fundamental shift remains to be seen, but the landscape for global investors has changed. Image: Goldman Sachs Global Investment…
Euro to U.S. Dollar (EUR/USD) The euro has shown strength this week, but caution is warranted. Potential shifts in U.S. trade policy under Trump and ongoing economic disparities continue to give the dollar an edge. Image: Bloomberg
Euro to U.S. Dollar (EUR/USD) The euro has dropped to a two-year low against the dollar due to concerns over a weak European economy, exacerbated by U.S. tariffs and anticipated interest rate cuts by the European Central Bank amid political instability. Image: Bloomberg
Euro to U.S. Dollar (EUR/USD) Goldman Sachs holds a pessimistic view on the EUR/USD currency pair, indicating that the euro is expected to depreciate against the U.S. dollar over the next 3 to 6 months. Image: Goldman Sachs Global Investment Research
Euro to U.S. Dollar (EUR/USD) The euro’s decrease in value relative to the U.S. dollar seems to be a result of underlying structural factors. Image: Gavekal, Macrobond
China Credit Impulse and Euro to U.S. Dollar (EUR/USD) – Leading Indicator Will EUR/USD peak in mid-2023? Image: Steno Research
Euro to U.S. Dollar (EUR/USD) and Real 5y5y Swap Spread (EUR – USD) – Leading Indicator The real 5y5y swap spread (EUR – USD) tends to lead EUR/USD by 9 months. Image: Nordea and Macrobond
Euro to U.S. Dollar (EUR/USD) and Core Inflation Difference (Leading Indicator) EUR/USD could continue to drop, as core inflation in the U.S. has increased. Image: Nordea and Macrobond
Euro to U.S. Dollar (EUR/USD) and China Credit Impulse – Leading Indicator China credit impulse tends to lead EUR/USD by 14 months. Image: Nordea and Macrobond
Euro to U.S. Dollar (EUR/USD) and 10-Year Bund/UST EUR/USD looks expensive vs. real 10-year rate differentials. Image: Societe Generale Cross Asset Research
Euro to U.S. Dollar (EUR/USD) and 10-Year Spread (Leading Indicator) The 10-year spread (Euro vs. U.S. dollar swap rates) tends to lead EUR/USD by 22 days. Image: Nordea and Macrobond