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Market Impact: 0.25

What Our New Energy Price Scenarios Mean For Markets

Monetary PolicyInterest Rates & YieldsCurrency & FXEconomic DataInvestor Sentiment & Positioning

Baseline assumes Fed rate cuts this year and no ECB hikes, implying a dovish global policy backdrop. USD and EUR rates could end the year lower as the growth outlook worsens, and the team still expects EUR/USD to return to 1.20 this year.

Analysis

Baseline assumes Fed rate cuts this year and no ECB hikes, implying a dovish global policy backdrop. USD and EUR rates could end the year lower as the growth outlook worsens, and the team still expects EUR/USD to return to 1.20 this year.

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Market Sentiment

Overall Sentiment

mildly negative

Sentiment Score

-0.18