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Goldman Sachs withdraws parity call in EUR/USD

Published 05/13/2016, 09:42 AM
Goldman Sachs joins other analysts in cutting call for drop in EUR/USD
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Investing.com – Goldman Sachs joined on Friday an ever-growing group of analysts who withdrew their call for the euro reaching parity with the dollar.

The firm had expected the EUR/USD to drop to 0.95 in 2017, but changed their estimate to 1.05 on Friday.

The move followed a similar call by Deutsche Bank on Thursday when they raised their end of year estimate to 1.05, compared to the prior 1.00.

On Wednesday it was Bank of America Merrill Lynch who called off their projection for parity at year end and raised the forecast to 1.08.

Amid general strength in the US Dollar Index supported by a better-than-expected April retail sales figure on Friday, EUR/USD fell 0.61% to 1.1306, at 13:42GMT, or 9:42AM ET.

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