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Goldman has improved the short-term forecast of the euro against the dollar

Schedule euro to dollar at intervals of 1 day

Goldman Sachs raised its 3-month target for the euro / dollar pair to 1.25 from 1.21. At the same time, the investment bank retained its 12-month forecast at 1.28.

Also currency strategists Goldman issued a recommendation for clients to buy euros with a target of 1.25, placing a stop order at 1.1750.

Market expectations for economic growth in Europe should improve in the next few months, amid faster vaccinations and reduced hospitalizations due to Covid-19.

“The combination of improved expectations for economic growth in the euro area, solid stock returns in the region, initial signals of normalization from the ECB and more stable prices will allow the recent euro reversal to continue.”

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One of the risks to a trade recommendation includes “unexpected hawkish signals” from Federal Reserve policymakers or any of their indications of a rate hike in 2023.

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