alx pisze:Euro ma się coraz lepiej.
EURO-DOLLAR: Global investors continue to move monies back into the eurozone,
which serves to underpin the euro. BOA Merrill Lynch notes that in the last
week, European equity funds saw inflows of $2.3bn, the largest weekly inflows in
more than 2 years, which confirms
that Europe is "back in fashion." Bob Sinche
of Pierpont Securities says while down from the spike record high reached in
April, the trend (6 month average) of the eurozone's current account surplus
continues to remain nicely above the prior cyclical highs.
"While there are
continued concerns that the EUR is 'overvalued', with the nominal trade-weighted
EUR holding 4-5% above its average since its introduction in 1999 (2nd chart)
despite the ongoing concerns over long-term debt sustainability in many
countries, as long as the EZ maintains a large CA surplus and there are limited
capital outflows to non-member countries there are few reasons to expect a
meaningful, sustained decline in the currency," he says.