Our view over the past few quarters has been that EURUSD should be rangebound, as the cyclical outperformance of the US economy is offset by the eurozone���s relatively better balance of payments position.
EURUSD should be rangebound
In today���s investment environment rates are lower, this inflates the value of future cash flows and pushes equity market multiples higher.
As the U.S. becomes entirely self-sufficient and even begins to become a net exporter of oil, it is likely to keep a lid on oil prices in the long-term.
Negative effects would occur in the context of an economy less energized by fiscal stimulus than was the case last year.
Last week���s employment report showed the U.S. unemployment rate falling to 3.6%, a multi-decade low. With little room for the unemployment rate to fall lower, many economists are growing increasingly concerned with the availability of labor supply and, in
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