Winter is coming for the EUR – Nordea – by hareshmenghani EURUSD Recession Currencies Banks
“Europe has lately been the epicentre of a perfect storm in energy markets. The energy price shock has and will continue to impact the industrial sector, leading to a negative terms-of-trade shock for the Euro Zone. Goods that were previously produced in Europe will now have to be imported from countries elsewhere where energy prices have not risen as much as in Europe. Worsening terms of trade argue for a weaker Euro ahead.
“Political fragmentation in Europe has increased with far-from-the-centre political parties winning elections – look at Italy and Sweden. The Euro is a political project and if EU’s politicians suddenly don’t get along, then we could see the Euro’s existence brought into question – similar to the case during the 2010 Euro crisis.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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