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Goldman No Longer Sees Euro-Area Recession as It Lifts Outlook

Wednesday, January 11, 2023
Goldman No Longer Sees Euro-Area Recession as It Lifts Outlook

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Economists at Goldman Sachs no longer predict a euro-zone recession after the economy proved more resilient at the end of 2022, natural gas prices fell sharply and China abandoned Covid-19 restrictions earlier than anticipated.

Gross domestic product is now expected to increase 0.6% this year, compared with an earlier forecast for a contraction of 0.1%. Economists led by Jari Stehn warn in a report to clients of weak growth during the winter given the energy crisis, and say headline inflation will ease faster than thought, to about 3.25% by end-2023.

“We also look for core inflation to slow due to cooling goods prices but see continued upward pressure on services inflation due to rising labor costs,” they said. “Given more resilient activity, sticky core inflation and hawkish commentary, we expect the European Central Bank to tighten significantly more in coming months.”

Goldman reiterated its call for half-point increases in interest rates at the ECB’s February and March meetings, followed by a final quarter-point step in May to take the deposit rate to 3.25%.

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31-03-2023 10:41:31 (UTC+7)

EUR/USD

1.0901

0.0000 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

EUR/USD

1.0901

0.0000 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

GBP/USD

1.2391

+0.0008 (+0.06%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

USD/JPY

132.91

+0.26 (+0.20%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (6)

Sell (0)

AUD/USD

0.6716

+0.0009 (+0.14%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

USD/CAD

1.3526

+0.0006 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

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EUR/JPY

144.90

+0.29 (+0.20%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (7)

EUR/CHF

0.9963

+0.0009 (+0.09%)

Summary

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Moving Avg:

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Sell (12)

Indicators:

Buy (2)

Sell (6)

Gold Futures

1,998.55

+0.85 (+0.04%)

Summary

↑ Sell

Moving Avg:

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Sell (10)

Indicators:

Buy (0)

Sell (9)

Silver Futures

24.043

+0.054 (+0.23%)

Summary

↑ Sell

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Sell (11)

Indicators:

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Copper Futures

4.0880

-0.0235 (-0.57%)

Summary

↑ Sell

Moving Avg:

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Crude Oil WTI Futures

74.34

-0.03 (-0.04%)

Summary

↑ Buy

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Sell (4)

Indicators:

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Brent Oil Futures

78.45

-0.15 (-0.19%)

Summary

Neutral

Moving Avg:

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Natural Gas Futures

2.100

-0.003 (-0.14%)

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US Coffee C Futures

170.15

+0.45 (+0.27%)

Summary

Sell

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Euro Stoxx 50

4,285.42

+54.15 (+1.28%)

Summary

↑ Sell

Moving Avg:

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Sell (7)

Indicators:

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S&P 500

4,050.83

+23.02 (+0.57%)

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↑ Buy

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DAX

15,522.40

+193.62 (+1.26%)

Summary

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Indicators:

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FTSE 100

7,620.43

+56.16 (+0.74%)

Summary

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Indicators:

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Sell (6)

Hang Seng

20,507.00

+197.87 (+0.97%)

Summary

↑ Sell

Moving Avg:

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Sell (10)

Indicators:

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Sell (6)

US Small Cap 2000

1,768.38

-3.22 (-0.18%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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IBEX 35

9,207.10

+136.40 (+1.50%)

Summary

↑ Sell

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Indicators:

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Sell (8)

BASF SE NA O.N.

47.900

+0.720 (+1.53%)

Summary

↑ Buy

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Buy (8)

Sell (1)

Bayer AG NA

57.78

+0.51 (+0.89%)

Summary

↑ Buy

Moving Avg:

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Allianz SE VNA O.N.

211.80

+2.45 (+1.17%)

Summary

↑ Buy

Moving Avg:

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Sell (1)

Adidas AG

155.00

+8.58 (+5.86%)

Summary

Sell

Moving Avg:

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Indicators:

Buy (1)

Sell (6)

Deutsche Lufthansa AG

9.950

+0.303 (+3.14%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

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Sell (4)

Siemens AG Class N

148.52

+2.22 (+1.52%)

Summary

↑ Buy

Moving Avg:

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Indicators:

Buy (8)

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Deutsche Bank AG

9.289

+0.146 (+1.60%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

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Sell (1)

 EUR/USD1.0901↑ Sell
 GBP/USD1.2391↑ Sell
 USD/JPY132.91Neutral
 AUD/USD0.6716Neutral
 USD/CAD1.3526↑ Buy
 EUR/JPY144.90↑ Sell
 EUR/CHF0.9963↑ Sell
 Gold1,998.55↑ Sell
 Silver24.043↑ Sell
 Copper4.0880↑ Sell
 Crude Oil WTI74.34↑ Buy
 Brent Oil78.45Neutral
 Natural Gas2.100↑ Buy
 US Coffee C170.15Sell
 Euro Stoxx 504,285.42↑ Sell
 S&P 5004,050.83↑ Buy
 DAX15,522.40↑ Sell
 FTSE 1007,620.43↑ Sell
 Hang Seng20,507.00↑ Sell
 Small Cap 20001,768.38↑ Sell
 IBEX 359,207.10↑ Sell
 BASF47.900↑ Buy
 Bayer57.78↑ Buy
 Allianz211.80↑ Buy
 Adidas155.00Sell
 Lufthansa9.950Neutral
 Siemens AG148.52↑ Buy
 Deutsche Bank AG9.289Neutral
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Cập nhật 31-03-2023 10:41:34
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$1,981.30+18.060.92%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.96024.430
RON 95-III23.03023.490
E5 RON 92-II22.02022.460
DO 0.05S19.30019.680
DO 0,001S-V20.56020.970
Dầu hỏa 2-K19.46019.840
ↂ Giá dầu thô thế giới
WTI$74.36+0.070.09%
Brent$78.40+0.120.15%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.270,0023.640,00
EUR24.941,3326.337,92
GBP28.339,4029.547,82
JPY171,09181,13
KRW15,6519,06
Cập nhật lúc 10:35:49 31/03/2023
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