05.02.2015 - The European Commission has improved the outlook for euro area GDP

Today the European Commission published forecasts for the euro area GDP. Thus, the predicted economic growth of monetary union in 2015 was upgraded to 1.3% against the previous forecast of 1.1% the growth. At the same time, deflation in the Eurozone is estimated to be 0.1% of the European Commission. German GDP growth will be 1.5% this year, 1.0% in France, 2.6% in the UK. Despite the improved prognosis, investors continue to fear the negative impact of the debt crisis in Greece. In addition, the main factor that puts pressure on the euro remains quotes quantitative easing program. Increase in volatility is expected tomorrow after the publication of a report on the US labor market. We recommend holding short positions on the euro with the potential drop to 1.1000 in the near future and maintain the medium-term negative outlook.

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