QCAM MONTHLY

Die Dynamik an den Märkten zeigt eindrücklich: FX also matters! Als erfahrene Währungsexperten sind wir bei QCAM jederzeit nahe am Marktgeschehen, um Chancen und Risiken zu analysieren und daraus erfolgreiche Strategien zu entwickeln. Kontaktieren Sie uns – wir freuen uns, Ihnen neue Perspektiven aufzuzeigen.

Abe's legacy and the Yen

07.09.2020 | Ausgabe #59 | QCAM MONTHLY 

 

QCAM MONTHLY behandelt alle Aspekte von FX Märkten, Research und Strategien plus Themenbereiche der Wirtschaft und informiert Sie über QCAM Angebote und Dienstleistungen – alles in konziser und kompakter Form. Und gratis, versteht sich.

 

QCAM Insight

Shinzo Abe leaves a mixed legacy. He broke the deflationary spiral, but failed to complete Japans reflation and made debt-monetization an accepted policy tool. The JPY gradually appreciated in recent years and we believe will slowly strengthen further because the rest of the developed world is becoming more like Japan yet the JPY remains a net-savings and safe-haven currency.

 

Economy and Interest Rates

Global economic activity continued to recover in August and forecast revisions have broadly changed to the upside. The recovery is now moving from the re-opening rebound to a second more cyclical phase, which is still marked by significant corporate balance sheet and labor market distortions, while the course of the Corona pandemic remains an uncertainty.

 

FX Markets

The USD slide stalled in the first half of August and then regained some momentum after the US Fed inflation target announcement. Risk-sensitive currencies like the GBP gained the most, but even the JPY held up well.

 

FX Analytics

Going into more detail: Based on our proprietary analytical framework to take scalable exchange rate positions we are taking a close look on individual currency pairs. 

 

 

 
Download: QCAM MONTHLY September 2020 (english)
 

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