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Goldman No Longer Sees Euro-Area Recession as It Lifts Outlook

Wednesday, January 11, 2023
Goldman No Longer Sees Euro-Area Recession as It Lifts Outlook

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Economists at Goldman Sachs no longer predict a euro-zone recession after the economy proved more resilient at the end of 2022, natural gas prices fell sharply and China abandoned Covid-19 restrictions earlier than anticipated.

Gross domestic product is now expected to increase 0.6% this year, compared with an earlier forecast for a contraction of 0.1%. Economists led by Jari Stehn warn in a report to clients of weak growth during the winter given the energy crisis, and say headline inflation will ease faster than thought, to about 3.25% by end-2023.

“We also look for core inflation to slow due to cooling goods prices but see continued upward pressure on services inflation due to rising labor costs,” they said. “Given more resilient activity, sticky core inflation and hawkish commentary, we expect the European Central Bank to tighten significantly more in coming months.”

Goldman reiterated its call for half-point increases in interest rates at the ECB’s February and March meetings, followed by a final quarter-point step in May to take the deposit rate to 3.25%.

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08-06-2023 09:23:50 (UTC+7)

EUR/USD

1.0711

+0.0012 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

EUR/USD

1.0711

+0.0012 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

GBP/USD

1.2451

+0.0012 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

USD/JPY

139.93

-0.20 (-0.14%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (2)

AUD/USD

0.6669

+0.0017 (+0.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

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USD/CAD

1.3361

-0.0009 (-0.07%)

Summary

↑ Sell

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EUR/JPY

149.88

-0.05 (-0.03%)

Summary

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EUR/CHF

0.9740

+0.0002 (+0.02%)

Summary

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Gold Futures

1,961.15

+2.75 (+0.14%)

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Silver Futures

23.613

+0.084 (+0.36%)

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Copper Futures

3.7580

+0.0025 (+0.07%)

Summary

↑ Buy

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Crude Oil WTI Futures

72.47

-0.06 (-0.08%)

Summary

Neutral

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Brent Oil Futures

76.84

-0.11 (-0.14%)

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Natural Gas Futures

2.321

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US Coffee C Futures

186.10

+3.50 (+1.92%)

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Euro Stoxx 50

4,291.91

-3.31 (-0.08%)

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S&P 500

4,267.52

-16.33 (-0.38%)

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DAX

15,960.56

-31.88 (-0.20%)

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FTSE 100

7,624.34

-3.76 (-0.05%)

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Hang Seng

19,225.00

-27.00 (-0.14%)

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US Small Cap 2000

1,891.11

+35.71 (+1.92%)

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IBEX 35

9,359.80

+49.00 (+0.53%)

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-0.310 (-0.66%)

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52.13

-0.15 (-0.29%)

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Neutral

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208.85

-1.65 (-0.78%)

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Adidas AG

159.26

-0.42 (-0.26%)

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Deutsche Lufthansa AG

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 EUR/USD1.0711↑ Buy
 GBP/USD1.2451↑ Buy
 USD/JPY139.93Sell
 AUD/USD0.6669↑ Buy
 USD/CAD1.3361↑ Sell
 EUR/JPY149.88↑ Buy
 EUR/CHF0.9740↑ Buy
 Gold1,961.15↑ Buy
 Silver23.613↑ Buy
 Copper3.7580↑ Buy
 Crude Oil WTI72.47Neutral
 Brent Oil76.84↑ Buy
 Natural Gas2.321Buy
 US Coffee C186.10Buy
 Euro Stoxx 504,291.91↑ Sell
 S&P 5004,267.52↑ Sell
 DAX15,960.56↑ Sell
 FTSE 1007,624.34Sell
 Hang Seng19,225.00↑ Buy
 Small Cap 20001,891.11↑ Buy
 IBEX 359,359.80↑ Sell
 BASF46.450↑ Buy
 Bayer52.13Neutral
 Allianz208.85Neutral
 Adidas159.26Buy
 Lufthansa9.133↑ Buy
 Siemens AG158.46↑ Buy
 Deutsche Bank AG9.812Buy
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SJC Eximbank6,635/ 6,675
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Cập nhật 08-06-2023 09:23:52
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ↀ Giá vàng thế giới
$1,945.74-17.57-0.89%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V22.79023.240
RON 95-III22.01022.450
E5 RON 92-II20.87021.280
DO 0.05S17.94018.290
DO 0,001S-V18.80019.170
Dầu hỏa 2-K17.77018.120
ↂ Giá dầu thô thế giới
WTI$72.52+0.480.01%
Brent$76.77+0.330.00%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.285,0023.655,00
EUR24.497,3625.869,06
GBP28.481,0929.695,52
JPY163,26172,84
KRW15,5218,91
Cập nhật lúc 09:17:38 08/06/2023
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