Black Friday offer, The next shoe to drop in the post-covid trade is in FX, US major indices close at record highs led by the S&P index, USDCAD reaches in the next downside target at the October 2018 low, FX option expiries for Friday December 4 at the 10am NY cut, FX option expiries for Thursday December 3 at the 10am NY cut, FX option expiries for Wednesday December 02 at the 10am NY cut, FX option expiries for Tuesday December 1 at the 10am NY cut, December seasonals: Watch out in commodities, crypto, bonds and bitcoin, Atlanta Fed GDPNow tracker for 4Q rises slightly to 11.2% from 11.1% on Dec 1, Fed's Kashkari: Jobs report shows many Americans have given up hope, Feds Evans: Most important stimulus for economy is fiscal public health safety, Fed's Evans: US economy came back more quickly than thought, BOE's Tenreyro: The evidence is that negative rates have helped economies, Eurozone 2020 GDP forecast -7.8% (previously -8.7%), Eurozone 2021 GDP forecast +4.2% (previously +6.1%), Expects Eurozone economy to contract by 0.1% q/q in Q4. In updated forecasts, the EU's executive Commission said it expects growth this year of 2.2 percent, which would be the highest rate for the 19-country bloc since 2007. LONDON (AP) — The eurozone economy will grow this year at its fastest rate in a decade following a run of upbeat news largely linked to a reduction in uncertainty following a series of elections, the European Union said Thursday. Euro area growth is expected be close to zero in 1H20 (with negative quarters in Italy and Germany part of our base case). Neither fiscal nor monetary easing can probably avoid 1H weakness, which is (to a very large extent) supply side-driven. In its previous forecast in the spring, it had penciled in growth of 1.7 percent. © Consejeros del Capital Social CDC Group. QE returns: the ECB would start as early as 4Q19 with €45bn monthly repurchase, Spain will grow 2.1% in 2019 leading Eurozone’s growth (S&P), Eurozone GDP up by 0. The European Commission sharply cut its eurozone growth forecast for 2019 on Thursday as an unexpected slowdown in Germany and protests in France weigh on the economy in Europe. The ECB probably cannot be ‘the game in town’. The Coronavirus is now a new shock. Adding that the forecasts are surrounded by 'exceptional uncertainty'. At EURUSD around 1.08 in spite of three Fed cuts being priced and increasing ECB talk of “side effects”, we find another depo rate cut counter-intuitive. The European Commission has cut its forecasts for Eurozone GDP growth in 2019 and 2020, citing global trade tensions and a slowdown in the … Growth in the euro area is forecast to ease from a 10-year high of 2.4% in 2017 to 2.1% in 2018 before moderating further to 1.9% in 2019 and 1.7% in 2020. HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. The EU also cut Italy's growth rate to a five-year low, a situation that risks reopening bitter differences between Brussels and Rome about the government's spending plans this year. The Eurozone single currency bloc is expected to feel the brunt of the slump with GDP growth predicted to be lower than forecast in the summer. Eurozone growth could be further hampered by a sharper-than-expected slowdown in China’s economy, as Beijing tries to cushion the blows from its trade spat with the U.S., the EU said. None of the blogs or other sources of information is to be considered as constituting a track record. We'll assume you're ok with this, but you can opt-out if you wish. We forecast 1Q global growth of less than 1% qoq saar and we cut full year growth from 3.1% to 2.8%. Forecast is based on an assessment of the economic climate in individual countries and the world economy, using a combination of model-based analyses and expert judgement. OECD Economic Outlook Publication (2020) Indicators. Find out how to take advantage of swings in global foreign exchange markets and see our real-time forex news analysis and reactions to central bank news, economic indicators and world events. Founded in 2008, ForexLive.com is the premier forex trading news site offering interesting commentary, opinion and analysis for true FX trading professionals. Brussels now expects gross domestic product (GDP) in the single currency bloc to increase by 1.4 percent in 2020, down from 1.5 percent in its previous forecast in May. The GDP forecast for the EU remains unchanged at 1.4% in 2019 and 1.6% in 2020. This is part of a global revision. As expected, European Central Bank staff on Thursday slashed their forecast for 2019 gross domestic product growth in the eurozone to 1.1% from a previous estimate of 1.7%. We lower our Euro area growth forecast to 0.6% for 2020 (-40bp), on the back of lower foreign demand (global growth downgraded to 2.8%, from 3.1%), supply chain disruptions and at least temporarily lower domestic demand from local virus hot-spots. ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. I expect far worse projections given the tigther virus restrictions so the forecasts above may well be outdated. The Commission said euro zone growth will slow to 1.3 percent this year from 1.9 percent in 2018, before rebounding in 2020 to 1.6 percent. Analysts at Deutsche Bank revised their GDP growth forecast for the Eurozone. EUROZONE growth forecast has slipped, falling from nearly 2.0 percent this year to an expected 1.6 percent in 2020, according to new figures from … In 2022, GDP is seen increasing 3.1%. Bank of America Global Research | The balance of risks to our Euro area growth forecast was tilted to the downside already amid Brexit uncertainty, US-China and US-EU trade tensions and the fragility of domestic demand resilience. 2Q GDP growth (late 1Q, early 2Q monthly data) will be more impacted, before growth resumes in 2H again including a small bounce-back towards year-end, in our view. Despite a second half recovery, there will be some permanent damage. We lower our Euro area growth forecast to 0.6% for 2020 (-40bp), on the back of lower foreign demand (global growth downgraded to 2.8%, from 3.1%), supply chain disruptions and at least temporarily lower domestic demand from local virus hot-spots. The Commission also raised its eurozone growth forecast for next … Markets are pricing a 10bp depo rate cut – we still think the bar for this is high. Related Fitch Ratings Content: Economics Dashboard: Tracking Eurozone Monthly GDP Fitch Ratings-London-02 October 2020: New monthly estimates of GDP by Fitch's Economics team for the four largest eurozone economies (EZ4) suggest upside risks to the 3Q20 eurozone growth forecasts published in our September 2020 Global Economic Outlook (GEO). 3 % with Greece growing by 0.8%. The statistic shows the growth of the real gross domestic product (GDP) in the European Union and the Euro area from 2009 to 2019, with projections up until 2021. The European Commission has raised its 2017 growth forecast for the eurozone and expects the 19-country bloc to grow by 2.2 percent this year — its fastest pace in a decade. There is … The eurozone actually grew faster than the US in the last quarter - at 12.7%, versus 7.4%. 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