Roowns

Recession Fears Go Global

It's true, recession is spreading throw euro zone since those are developed countries with relatively low GDP growth that are easy target for inflation increase because of run-up in commodities prices at the beginning of the year.
But my believe is that it's just a one time phenomena and short living, and once commodities get to a level inflation will slow again, and with recent sell off in this sector in the next quarters will surely do.
I think some parts of Europe, like Spain and England, will still be touched by slowdown in construction sector, but all in all Germany, France should be fine and Europe will outperform USA in the short run.
So we should expect soon a revers in euro versus dollar.