SocGen: Euro Needs Better Economic Prospects - EUR/USD

EnclaveFX Ltd
Jun 26, 2023

The Euro outlook is analyzed by Société Générale economists. It's desperately looking for better data.

Despite poor growth numbers, the Euro stays anchored

Almost all of its wind has been sucked out of its sails by Friday's PMI data.

It's a bit lower than the consensus but still above our economics team's forecast for this year. While they downplay the significance of the PMI data, EUR/USD continues to track short-term rate expectations absurdly closely, and the PMI data definitely affected them.

We'd recommend selling EUR/USD against CAD if you can't resist the urge to sell it.


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