EUR | Commerzbank: Euro Caught Between Energy Price Shocks and Growth and Rate Effects
2026-07-24 12:51:08
According to Jin10, Commerzbank economist Michael Pfister said a deal ending the U.S.-Iran conflict would not necessarily mean a stronger euro, even if it is positive for the eurozone economy. He said that if oil prices fall as tensions ease, the market may stop pricing in expectations for European Central Bank rate hikes. He added that this was evident after the U.S. and Iran signed a memorandum of understanding in June, when a sharp drop in oil prices provided little support for the euro, and that bets on ECB rate hikes are currently offsetting the negative impact of the recent oil-price surge caused by renewed conflict escalation.
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