O rețea globală și cunoștințe de piață
Simplificăm comerțul transfrontalier.
Simplificăm comerțul transfrontalier.
G10 currencies all traded in a holding pattern last week, as investors await the December meetings of the key central banks, including the ECB this week and the Federal Reserve and the BoE the next one.
The so-called Trump trade suffered a meaningful reversal last week, with possible profit taking and month-end rebalancing flows also contributing to a broad dollar retracement.
The ‘Trump trade’ took a bit of a breather last week as bargain hunters emerged to shop for its victims, including Treasury bonds and selected EM currencies that had been cheapened by the post-election selloff.
There were divergences in the so-called Trump trade last week.
Market uncertainty over the US election was resolved in the most clear cut way imaginable, as the Republicans swept not only the presidential contest but also the House and the Senate.
The US dollar has rallied against almost every currency in the world overnight, as investors digest the news of the big outperformance in the polls from Donald Trump.
Markets are bracing for the biggest event risk of the year this week, with Tuesday’s US presidential election to potentially be one of the closest races in recent history.
The ‘Trump trade’ continues to drive markets worldwide, and currencies are no exception.
The path of least resistance for the dollar continues to be up, on the back of strong economic numbers and market doubts about the extent and timing of future Federal Reserve rate cuts.
Following a period of depreciation, induced by Middle East tensions risk-off, the CEE currencies are back on their feet. Zloty, leading the pack, was one of only 3 EM currencies worldwide to strengthen against the generally well-performing dollar.
CEE currencies suffered large losses last week as risk-off, rates repricing and subsequent dollar rally prevented them from catching a breather.
CEE currencies sold off against both the US dollar and their reference euro last week, with underwhelming economic news from the common currency bloc casting a shadow on open economies of Eastern Europe.
