Head of FX Strategy
The USD rally continues to grind away today, taking EURUSD well away from the last local Fibonacci retracement level of note (the 1.1937 area, near the day high), through the 200-day moving average in GBPUSD, and even attacking the big 1.3500 level, down through 0.7500 in AUDUSD and 0.7000 in NZDUSD.
The last major holdout for the moment is USDJPY, where the 110.00 level is not under fire yet, perhaps due to nerves linked to President Trump’s decision on Iran later today. The most compelling scenario, possibly, for USD bulls is one in which Trump says something along the lines that “we are making tremendous progress” but delays a further decision for now which triggers a bit of risk-on and a weaker US Treasury market, driving higher US yields and taking USDJPY back higher as well.
On the flip-side, a risk-unfriendly announcement is more likely to continue to aggravate the emerging market sell-off, as EM look to be a lose/lose either way if either a) yields rise or b) risk appetite drops.
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Steen Jakobsen,
Chief Investment Officer
As globalisation turns to fragmentation, China seems set on playing a role in the global economy, while simultaneously working towards proofing its own economic situation from external shocks and crises.
Redmond Wong,
Market Strategist
The recent bank runs and ensuing challenges are reminicent of something we've seen before. Will it end like the S&L crises of 1986 and 1995?
Chris Dembik,
Head of Macroeconomic Research
Equity markets need to recalibrate to another - fragmented - global world. What's your view on equities in this market - are they going up or down?
Peter Garnry,
Head of Equity Strategy
With every development comes new opportunites, some of which could be in India. Have you considered the country as a part of your diversification strategy?
Charu Chanana,
Market Strategist
A collar is an option strategy that allows some protection while maintaining some upside potential. What investment would you like to use a collar strategy for?
Hans Oudshoorn,
Trainer Academy
There are arguments to be made for many commodities to have upside. Which are you paying the most attention to this quarter?
Ole S. Hansen,
Head of Commodity Strategy
In a very challenging macro environment, which currencies do you think will come out on top?
John J. Hardy,
Head of FX Strategy
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