with QCAM Special: Expanding «FX BIAS»
The risk of recession in the major economies has increased yet financial markets are not very intimidated, hoping that central banks will prevent the worst. The USD slipped as interest rates and risk aversion declined. In our view
Economy and Interest Rates
Growth forecasts continue to slide lower. Recession is not imminent given the recovery momentum from the Corona pandemic but the probability of a recession over the next year is approaching 50%. Consumers respond more negatively to high inflation and…
The USD rallied in early July but lost most gains over the last three weeks. The JPY made up most lost ground, while the EUR struggled to stay above parity. Among EM currencies, …
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.