According to Jinshi Data, UBS Global Wealth Management analysts Constantin Bolz and Brian Rose said in a report that strong eurozone economic data may have a greater impact on the euro than weak data. Investor sentiment is "very pessimistic" at present, and multiple interest rate cuts by the European Central Bank are already expected. Therefore, better economic data will be a bigger surprise.

UBS expects eurozone economic growth to recover in 2025. Analysts predict that this will push the euro to above 1.10 against the dollar and to 1.16 later in 2025.