Credit AgricoleStagflation Becoming A Major ThemeStagflation has become a major theme for FX markets. The extent of stagflation an economy is experiencing can be measured by the misery index (the sum...
Investment Bank Outlook 08-09-2022
BNY MellonECB Searching For A New BaselineThe European Central Bank is expected to step up its policy-normalisation process today with a 75bp rate hike. While we do see some downside risk of a 50bp...
Investment Bank Outlook 07-09-2022
BNY MellonAPAC FX Depreciation Expectations RiseThe latest sentiment data from APAC painted a mixed picture. August manufacturing PMIs for China and South Korea fell into the contraction zone for the...
Investment Bank Outlook 06-09-2022
BNY MellonEntrusting Truss With GiltsNew Prime Minister Liz Truss isexpected to announce a major support package for UK households within days, ifnot sooner. As highlighted last week, the prospect of...
Investment Bank Outlook 05-09-2022
INGUSD: The pre-eminent safe haven right nowWhat initially looked like a benign end to the week after some encouraging US jobs data quickly reversed on Friday evening when Russia’s Gazprom announced...
Investment Bank Outlook 02-09-2022
Credit AgricoleMarket hopes for decisive official steps to prop up the EUR have been on the rise of late with investors now looking for: (1) a more aggressive rate hike at the 8September ECB policy...
Investment Bank Outlook 01-09-2022
BNY MellonSwiss Franc Now Two-WayWhen the Swiss National Bank hiked its benchmark sight deposit rate by 50bp in June, it also arguably reversed over a decade of orthodoxy in pledging to sell foreign...
Investment Bank Outlook 31-08-2022
Credit AgricoleEurozone inflation: August HICP preview and updateThe preliminary inflation data in August published so far –in Spain, Germany and Belgium –provided few surprises. All in all, YoY...
Investment Bank Outlook 30-08-2022
Credit AgricoleSell USDJPY IdeaThe biggest drivers of the USD/JPY’s rally remain the US-Japan short-term rates differential as well as the USD’s safe-haven with yield appeal. We doubt the exchange...
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