Euro Monthly Outlook

22nd December 2014 By: Ranko Berich

Macro Economy: The eurozone’s raw figures speak for themselves: 0.2% quarterly GDP growth and 0.3% inflation.

Monetary Policy: As crude oil prices fall the ECB has less “wiggle room” to look through oil price shocks than the BoE and Fed, and will be forced to act soon or risk a de-anchoring in inflation expectations.

Currency Outlook: A long position on the euro might as well be a seat on the titanic.

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