每日机构分析：12月9日

Group 1: Euro and European Central Bank (ECB) - The strong euro may force the European Central Bank (ECB) to implement 1-2 rate cuts before next summer [1] - Barclays Bank's strategy chief indicates that the euro is significantly overvalued from a trade-weighted perspective, suggesting its actual value is higher than nominal rates reflect [1] - HSBC economists warn that if the trade-weighted euro index rises by about 5%, it could compel the ECB to adopt additional easing measures, potentially leading to multiple rate cuts [1] Group 2: Federal Reserve and Interest Rates - Barclays predicts the Federal Reserve will lower rates by 25 basis points to a range of 3.50%-3.75% in the upcoming meeting, while signaling a hawkish tone for future meetings [2] - Nomura Securities has adjusted its forecast, now expecting a 25 basis point cut from the Federal Reserve, citing sufficient dovish signals for a "risk management-style" cut [3] - Analysts from BNY state that the market has fully priced in the Fed's rate cut expectations, with further easing dependent on weaker economic data in the first half of 2026 [3]