BofAEUR and USD 20-year reunionWe have been out-of-consensus USD bulls this year, but it now turns out we have not been bullish enough. EURUSD is back to parity after 20 years. USDJPY is at 139, the...
Investment Bank Outlook 15-07-2022
USD: Balance of risks tilted to upsideGlobal risk sentiment continues to be challenged by adverse developments across the world. The US banking earning season has kicked off on the wrong foot, China...
Investment Bank Outlook 14-07-2022
INGUS Inflation Shows Fed Has More to DoJune US inflation came in at 1.3%MoM/9.1% YoY for headline and 0.7%MoM/5.9% for core. Both readings are 0.2pp higher than the consensus was expecting and should...
Investment Bank Outlook 13-07-2022
BofAUSD has all bases coveredAll roads continue to lead to the dollar as the USD index broke to new cyclical highs this week. The depth of USD buying has been indiscriminate this year with only CAD...
Investment Bank Outlook 11-07-2022
INGInflation well above target, consumer sentiment at all-time lowThe market is favouring a 75bp rate hike from the Federal Reserve on 27 July and we agree given the tight jobs market and inflation...
Investment Bank Outlook 08-07-2022
USD: NFP unlikely a game-changerThe dollar has remained close to its recent highs, feeling very little pressure from the recovery in risk assets seen yesterday. Today, the futures market points to...
Investment Bank Outlook 07-07-2022
Societe GeneraleStorm coming, but not today” was a poor choice of title yesterday! ¢ I’m not sure why everything went wrong yesterday, rather than waiting for the week’s more important data. Still,...
Investment Bank Outlook 06-07-2022
INGUSD: Macro themes continue to drive financial markets.One does not have to look too far beyond the inverted US yield curve or the collapse in copper to understand that investors continue to...
Investment Bank Outlook 05-07-2022
BoFAFed leads the way, USD to follow The key message from last week’s ECB central bank forum in Sintra has been the belief that the global economy is entering into a new paradigm of higher inflation...
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