Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
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Weekly FX Chartbook: UK data will be a test of GBP resilience
Charu Chanana
Chief Investment Strategist
Summary: Broader markets continue to price in a more aggressive Fed but dollar still ended the week nearly unchanged despite a significant plunge in yields. This could partly be a result of haven demand as risks of Mideast conflict escalating are on watch, but also signals the less optimistic ex-US growth outlook. Macro and positioning data continues to point towards more GBP upside, and inflation and jobs data will be on watch.
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Other recent Macro/FX articles:
12 Jan: Markets ignore CPI uptick, Mideast tensions could fuel haven and oil-related FX
9 Jan: FX Quarterly Outlook: High yielding currencies will start to lose their appeal
9 Jan: US CPI Preview: Markets could be sensitive to an upside surprise
8 Jan: Macro and FX Podcast: Upcoming US CPI figures, USD momentum, and musings on China
8 Jan: Weekly FX Chartbook: Room for tactical gains in USD
18 Dec: Macro and FX Podcast: Watch USD sentiment and BoJ hints on rate policy
18 Dec: Weekly FX Chartbook: Dollar to end 2023 in a bearish trend
15 Dec: ECB’s policy mistake, Bank of Japan comes next
13 Dec: Fed has a final chance to pushback on rate cut expectations
11 Dec: Weekly FX Chartbook: Relative Fed and ECB policy messaging to matter more than absolute stances
11 Dec: Macro and FX Podcast: Will central banks, inflation, and PMIs deliver fireworks?
8 Dec: Exploring the impact of US NFP on different asset classes, BOJ will stick with gradualism
5 Dec: RBA under-delivers: AUD momentum could turn bearish, particularly on the crosses
4 Dec: Weekly FX Chartbook: Dovish Fed and ECB bets picking up
4 Dec: Macro and FX Podcast: Key macro data this week, the USD slide ended and gold is on the move
1 Dec: USD in a dovish fatigue, EUR gives up 1.10, and markets look to Powell
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