Natixis - La croissance espagnole ne connait pas de coupure

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Natixis

Jesus Castillo ...

Justine GRENON

La croissance espagnole ne connait pas de coupure

L a croissance d u PIB espagnol a légèrement ralenti au T1 2025 à +0,6% T/T. Elle est restée robuste dans un environnement peu favorable. Les facteurs de demande domestique expliquent l’essentiel de cette évolution. Au cours des prochains trimestres , nous pensons que la croissance restera forte mais légèrement moins rapide.

29/04/2025 1 FR

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Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Analysts

Jesus Castillo

Justine GRENON

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Trade ideas Monthly - April/May 2025

New Publication Alert: Trade Idea Monthly!We are excited to present our new edition of the Monthly Trade Idea, where we summarize the trade ideas shared throughout the month, covering both rates and FX. This month, we have added the following new trade ideas:Long the 5Y–10Y SPGB–BTP boxLong IRISH 10/34 & DSL 7/34 vs. Short Bund 08/34Paying the 2Y5Y15Y in JPYBuy EUR/USD Call strike 1.15, RKO 1.22Stay tuned for more insights and strategies!

5h / 51m 5h / 51m 1 EN

Nordine Naam

Nordine Naam

BUY EUR/USD 3m call RKO 1.22

We have recently revised our view on the FX forecasts. We expect the EUR/USD to appreciate to 1.20 this year, compared with 1.15 initially forecast. The EUR/USD's appreciation will mainly result from the dollar's continued depreciation against most currencies due to the expected sharp deceleration in US growth and still in reaction to the continuing flows out of the US assets. Despite the 90-day pause on reciprocal tariffs and tariff relief in some sectors, economic uncertainties will continue to dominate, weighing on US growth and assets. The euro will benefit from the dollar weakness and t...

6h / 38m 6h / 38m 1 EN

Bastien AILLET ... (+3)

Bastien AILLET
Hadrien CAMATTE
Jesus Castillo

Euro area: stronger growth than expected in Q1 2025

Euro area GDP growth exceeded e xpectation s in Q1 , rising by +0.4% Q/Q from +0.2% in Q4 24 ( Consensus at +0.2%, Natixis: +0. 3 %). GDP growth was broadly in line for the big 4 , and part of this over-performance was linked to Ireland (+3.2% Q/Q ) which recorded the highest increase in growth among EU countries . Looking into detail s : German GDP rose by 0.2% Q/Q ( after a decline of -0.2% in Q4 ) due to an increase in private consumption and investment. French GDP slightly increased by 0.1% Q / Q after -0.1% in Q4 . Italian GDP grew by 0.3% Q/Q after 0.2% in Q4,...

11h / 44m 11h / 44m 1 EN

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La croissance espagnole ne connait pas de coupure

Trade ideas Monthly - April/May 2025

BUY EUR/USD 3m call RKO 1.22

Euro area: stronger growth than expected in Q1 2025

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