IMF cuts 2022 and 2023 global growth forecasts and says downside risks remain

• Sees 2022 growth at 3.2% vs 3.6% in April
• Sees 2023 growth at 2.9% vs 3.6% in April
• Chief economist says world 'may soon be teetering on the edge' of recession
• Sees 2022 China GDP 3.3% vs 4.4% in April
• Eurozone 2022 GDP 2.6% vs 2.8% in April; 2023 1.2% vs 2.3% in April
• US GDP seen at 2.3% vs 3.7% in April, 2023 GDP at 1.0% vs 2.3% in April
• Japan 2022 to 1.7% vs 2.4% in April
• India 2022 to 7.4% vs 8.2% in April

These numbers still sound optimistic. The eurozone growing at all next year is a stretch, especially with the latest pipeline news and ECB rate hike. At the end of the day, these forecasts are backward looking, the same as everyone else. EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term/USD is down 70 pips to 1.0149 today.

That said, they're the kind of thing that has spooked investors in the past and the bad news is absolutely cascading on the corporate side today.