Analysts at JP Morgan are out with their EUR/USD price forecasts for 2019, with a rebound likely seen in H2 by end-2019.
Key Highlights:
Forecasts for a lower euro in the first part of next year.
Sees 1.11 in Q1.
A rebound in H2 to 1.18 by year end 2019.
The reasons for the rebound are noted below.
US economic growth seen slowing “materially” in 2019, fiscal boost fades, Fed tightening impacts.
European growth to be higher than the US, ECB to hike late 2019.
Euro should deliver a spring inflection point higher as focus turns to the ECB in H2.
Meanwhile, JP Morgan sees further 5 rate hikes from the Fed through end-2019.
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