Goldman's Embarrassing Call On The Euro

Slip And Fall

Here’s an interesting look at how Goldman analysts slipped up on their call on the euro, courtesy of WSJ’s Overheard column.

Goldman currency analysts forecast the euro at $1.35 for months this year, even as the euro plummeted down to four-year lows.

Then on June 6th, they changed their three- and six-month forecasts to $1.15. Big mistake.

On June 7th, the euro bottomed and then went to $1.30.

So on June 15th, the analysts changed their euro forecast back to $1.35, where it is now.

The call shows Goldman freaking about the euro and then becoming bullish on the euro again, like they are now. But for a couple of weeks, they were very unsure – and wrong, about where it was headed.

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