Wall Street

Goldman Sachs assessed the situation in the foreign exchange market

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Why Goldman Sachs Went From Investing For The Rich To Targeting Everyone Description video: Goldman Sachs, the Wall Street investment bank, has a storied history. Founded by Marcus Goldman 150 years ago, his son Henry revolutionized the industry with company […]

Why Goldman Sachs Went From Investing For The Rich To Targeting Everyone

Description video:
Goldman Sachs, the Wall Street investment bank, has a storied history. Founded by Marcus Goldman 150 years ago, his son Henry revolutionized the industry with company valuations and IPOs. It was the gold standard in investment banking for decades and partners got rich when the company went public. But the firm’s reputation took a beating during the financial crisis, eventually leading to one of the most interesting pivots in Wall Street history.\n\n» Subscribe to CNBC: http://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC TV: http://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC Classic: http://cnb.cx/SubscribeCNBCclassic\n\nAbout CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.\n\nConnect with CNBC News Online\nGet the latest news: http://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: http://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: http://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: http://cnb.cx/InstagramCNBC\n\n#CNBC\n#GoldmanSachs\n#WallStreet\n\nHow Goldman Sachs Became Wall Street’s Most Powerful Investment Bank

Goldman Sachs assessed the situation in the foreign exchange market

Goldman Sachs has started to short the dollar as renewed growth in the US is expected to lure investors out of the traditional currency haven.

In a note, the investment bank wrote that, although analysts argued that it was too premature «direct and sustained dollar decline, given the balance of cyclical risks», US currency shorts now look attractive in some currency pairs.

Goldman Sachs’ forecast cited a robust reopening process for a number of businesses, a slowdown in the spread of coronavirus in some countries, encouraging political action such as progress in decision-making on the EU recovery fund.

Goldman Sachs assessed the situation in the foreign exchange market

The bank also advised to pay attention to the Norwegian krone.

«Norway’s demographic, financial situation and domestic medical infrastructure make it more prepared for an outbreak than many other countries.», – said in a note by Goldman Analysis led by the co-chairs of the global monetary fund Zach Pundle and Kamaksha Trivedi.

«While others are forced to either limit support for their fiscal policy or sharply increase borrowing, Norway may repatriate funds from its investments abroad (Norway today announced that it will increase daily transactions from NOK 2.1 billion to NOK 2.3 billion). helping to support the economy and currency», – added by experts.

Norway had reported 8,440 Covid-19 cases and 236 deaths as of Monday morning, taking tough measures to fight the virus as early as March 12 and creating significant testing potential.

In March, the country also announced a three-phase financial stimulus plan and developed two government credit and guarantee schemes to provide liquidity for Norwegian businesses..