Currency Asset Management
QCAM Currency Asset Management AG merges two areas of competence, which we have successfully demonstrated over the past ten years: Currency Management and Asset Management. With our positioning in these two growth areas we are opening up unique perspectives to our customers.
QCAM’s client base includes Pension Funds, Family Offices, Investment Funds, Asset Manager, Corporate Clients and NGOs.
Independent, transparent and trustworthy – at QCAM we live our company values every day in relations with our customers and stakeholders. We select the suitable solution for you from a wide range of products and services.
QCAM is regulated by FINMA and SEC and thus fulfills highest compliance requirements.
Experienced Currency and Asset Management specialists are here to assist you. Expect highest standards of quality and service.
04.04.2024 | Issue #102
The dynamics of markets is a strong reminder to investors: FX also matters! As currency experts, we at QCAM are always close to the markets to analyse risks and opportunities and turn that into successful investment strategies.
«Early and Late Movers» QCAM Insight
The USD continued its recovery in March after a short break in February. We think the USD will on balance remain firm, but we also expect more divergence given the cross current of policy and business cycle dynamics. In particular, we think the ECB will cut interest rates earlier and more than the Fed, hurting the EUR, but we also expect that a broadening global recovery will…
Economy and Interest Rates
Global growth conditions continue to improve gradually with continued US outperformance versus the rest of the world, most notably Europe. The process of disinflation has become less even, with more progress in Europe and setbacks in the US. Soft-landing (moderate growth and lower inflation)…
FX Markets
The USD DXY rose nearly 1% over the last months. The AUD and the CAD held up well with the USD while the SEK and the NOK underperformed the most. EM currencies were on balance slightly weaker with the TRY continuing its rapid decent. Overall,…
FX Analytics
The overall USD position has shifted from neutral to modestly long. On the discretionary Macro side, we went long the USD versus the EUR and we shifted long the CHF versus the EUR…
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QCAM is a member of the IGUV
QCAM Currency Asset Management AG is a member of the IGUV - Interessengemeinschaft unabhängiger Vermögensverwalter. We are pleased to announce that we, QCAM, joined the Interest Group of Independent Asset Managers (IGUV) as [...]
Early and Late Movers
The USD continued its recovery in March after a short break in February. We think the USD will on balance remain firm, but we also expect more divergence given the cross current of policy and business cycle dynamics. In particular, we think the ECB will cut interest rates earlier and more than the Fed, hurting the EUR, but we also expect that a broadening global recovery will lift commodity prices and risk sentiment, supporting currencies such as the AUD.
Spring awakening
The USD continued to rally in the first half of February but has been gradually sliding lower since then. The competing themes are global recovery versus US exceptionalism and a hawkish Fed. There are many other uncertainties that could shape the direction for FX markets but we expect that data releases over the first half of the year will determine which of the two main dynamics will come to dominate.
What about the US elections?
The USD is recovering as the market pairs back Fed rate cut expectations. Meanwhile, the US election campaign is gearing up with a Biden-Trump rematch looking most likely. The outcome of the election remains uncertain and there are many moving parts that can impact the USD in response. ...