The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Head of FX Strategy
Summary: The commodity dollars are on the defensive again after a weak GDP print from Australia and on fears that the Bank of Canada will wax more dovish today. Elsewhere, we await tomorrow’s ECB meeting for signs of life in EURUSD and when the long established range will fall.