In this week's episode, we discuss the recent price action in foreign exchange surrounding central bank decisions from the Bank of Canada, Fed, ECB, and Bank of England. We reflect on why central bank signaling seems to have lost its influence over FX and propose alternative macro catalysts for the days and weeks ahead.
In this week's episode, we talk through the ongoing downtrend in the US dollar, with particular mention of where things might go from current levels in EURUSD, GBPUSD, and USDJPY.
In this abbreviated episode, we offer a preliminary reaction to the BoJ's surprise decision to tinker with the parameters of its yield curve control mechanism.
In this week's episode, we look back at the biggest surprises in FX markets and related fundamentals in 2022. We will also offer preliminary thoughts on potential surprises for 2023.
In this week's episode, we home in on the 1M horizon, which now brings us to the end of calendar year 2022. We share our thoughts on the latest developments in RMB, GBP, USD, and CAD.
In this week's episode, we discuss so-called “turn pressures” that are manifest in the movement of implied yields embedded in FX forward points of various different currencies. This discussion features a special guest: BMO FX forwards trader James Topham.
In this week's episode, we discuss the latest movements in the broad US dollar with particular focus on the euro, British pound, Chinese renminbi, and Japanese yen.
In this week's episode, we discuss recent developments related to the yen, the renminbi, the euro, and the Canadian dollar.
In this week's episode, we discuss recent developments related to the Japanese yen, the British pound, and the Chinese Renminbi.
In this week's episode, we discuss recent developments in the US dollar, British pound, Japanese yen, and some of the G10 commodity currencies. In particular, we analyze whether the FX market is 'breaking'.
In this week's episode, we discuss the key factors facing central banks with meetings this week along with potential outcomes in terms of policy and FX responses. We go through the situations facing the Fed, BOJ, BOE, and PBOC.
In this week's episode, we discuss potential terminal rates for this cycle for G10 central banks and how they may differ from long-run equilibrium rates and what they may mean for foreign exchange. We also explore how the euro might react to a sudden peace in the Ukraine War.
In this week's episode, we discuss recent policy signals from various central banks and associated movements in FX markets.
In this week's episode, we discuss recent developments in the FX market and a few key upcoming events.
In this week's episode, we discuss an analogy of the situation facing the Fed Chair Powell and other central bankers, along with FX market implications.
In this week's episode, we discuss some of the key issues for the FX market during the dog days of summer, including the persistence of above-average volatility, the softening of oil prices, and the modest relief rally in the euro.
In this week's episode, we discuss the reasons why the Mexican peso and Chinese renminbi have diverged so sharply in 2022. We give our thoughts on how long, and to what extent, this divergence can continue. We throw this out as one of our favorite summer trades--noting that it is a trade that should benefit in the event that oil continues to move higher.
In this week’s episode, we discuss recent signs of distress in financial markets related to the rising US dollar, rising oil prices, and uncertainty over central bank responses to these issues.
In this week's episode, we discuss the pullback in the US dollar over the past two weeks and go through the macro stories behind it before looking at a few key exchange rates.
In this episode, special guest Jennifer Lee from BMO’s economics team joins Greg Anderson to discuss the slowdown in the global economy and the surge in global inflation.