Goldman Sachs ups 3-month EURUSD forecast to 1.1500

In the latest client note, the analysts at Goldman Sachs made upward revisions to their EUR/USD forecast for coming three months.

Key Quotes:

"We think the Euro may have finally turned a corner.

We raise 3-month EUR/USD forecast from 1.10 to 1.15, citing the following positive catalysts:

• Improvement in industrial activity.
• Easier financial conditions.
• Lower oil prices.
• Fiscal stimulus.
• Potentially hawkish new ECB president could affect outlooks for rates.
• FX investor positioning quite short the Euro.

However, the EUR/USD pair could face some downside risks, including a downturn in global trade and politics in Italy.”