Euro Unlikely to Rise Considerably on German Fiscal Stimulus -- Market Talk

Dow Jones

2025/11/19

1419 GMT - Germany's fiscal expansion plans could boost growth and inflation next year but this is unlikely to drive significant euro gains, HSBC Global Investment Research strategists say in a note. "With expectations already running high over what [German Chancellor Friedrich] Merz's government will deliver next year, the risk of under-delivering exists." The hype surrounding the fiscal plans for the euro has also passed, leaving the bigger drivers to be the dollar and Federal Reserve's next moves, they say. HSBC expects the euro to rise to $1.20 this quarter from $1.1587 currently, before falling to $1.18 by the second quarter of 2026 as it expects the Fed to cut rates in December but deliver no more cuts in 2026. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

November 19, 2025 09:19 ET (14:19 GMT)

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HSBC expects the euro to rise to $1.20 this quarter from $1.1587 currently, before falling to $1.18 by the second quarter of 2026 as it expects the Fed to cut rates in December but deliver no more cuts in 2026. 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HSBC expects the euro to rise to $1.20 this quarter from $1.1587 currently, before falling to $1.18 by the second quarter of 2026 as it expects the Fed to cut rates in December but deliver no more cuts in 2026. (renae.dyer@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 19, 2025 09:19 ET (14:19 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0516423174.USD","symbol_name":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2584942727","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2584942727","pubTimestamp":1763561940,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1419 GMT - Germany's fiscal expansion plans could boost growth and inflation next year but this is unlikely to drive significant euro gains, HSBC Global Investment Research strategists say in a note. \"With expectations already running high over what [German Chancellor Friedrich] Merz's government will deliver next year, the risk of under-delivering exists.\" The hype surrounding the fiscal plans for the euro has also passed, leaving the bigger drivers to be the dollar and Federal Reserve's next moves, they say. HSBC expects the euro to rise to $1.20 this quarter from $1.1587 currently, before falling to $1.18 by the second quarter of 2026 as it expects the Fed to cut rates in December but deliver no more cuts in 2026. 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HSBC expects the euro to rise to $1.20 this quarter from $1.1587 currently, before falling to $1.18 by the second quarter of 2026 as it expects the Fed to cut rates in December but deliver no more cuts in 2026. (renae.dyer@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 19, 2025 09:19 ET (14:19 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}