Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: maceng2 who wrote (73520)	5/17/2010 12:30:44 PM
From: Haim R. Branisteanu	1 Recommendation of 74559

EURO-DOLLAR VIEW: Goldman Sachs economists EURO-DOLLAR VIEW: Goldman Sachs economists "continue to think the market is underestimating the strength of the macro cycle and overestimating the transmission from the European sovereign crisis and growth (including in Europe itself). In terms of the euro, there are downside risks, with price action potentially choppy as events unfold. "Overall, however, EUR/$ downside risks seem more than fully priced at current levels, a view that is also consistent with evidence of extremely large speculative short EUR/$ positions," GS FX strategists say. After assessing growth and interest rate implications, "as well as positioning, fair value and external balances, we decided to keep our EUR/$ forecasts at 1.35 flat in 3, 6 and 12 months," Goldman says. Provided by: Market News International

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