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Jan 10 - 10:55 AM

EUR/USD: Macro Outlook Points To More Weakness For EUR Against USD - BofA

By eFXdata  —  Jan 10 - 09:32 AM

Bank of America Global Research maintains a bearish bias on EUR/USD over the medium-term. 

"Following our out-of-consensus bearish EURUSD view last year, we expect some further weakness this year. Our economists expect 3.6% growth in the Eurozone in 2022, compared with the consensus of 4.2%. They also expect 5% US inflation compared with the consensus of 4.4%--our forecasts are similar to the consensus for US growth (4%) and Eurozone inflation (2.5%)," BofA nots. 

"We expect the ECB to be on hold this year and next, compared with market pricing 13bp and 32bp hikes, respectively, in 2022 and 2023. In comparison, we expect the Fed to hike four times this year and four more times next year, compared with market pricing of three and two hikes, respectively, in 2022 and 2023," BofA adds. 

BofA Global Research


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