This via the folks at eFX.
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Goldman Sachs maintains a bearish bias on EUR/USD into year-end.
- "We think risks are probably still skewed to the downside. We think that the Euro area is currently in recession, and that should start to be even clearer in economic data over the next month or so," GS notes.
- More importantly, the start of winter could bring extra market volatility, and a colder-than-average season would tip the region into an even deeper downturn," GS adds.
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I guess if you are looking to sell a rally Mr. Market has presented an opportunity to do so today.
