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13 Mar 2023

EUR/USD: Euro to benefit from the apparent failure of Fed monetary policy – Commerzbank

Ulrich Leuchtmann, Head of FX and Commodity Research, highlights how quickly the US Dollar could lose its safe haven status. AS ECB expectations are being revised to the downside, but to a much lesser extent than the Fed's, the Euro is set to profit.

ECB policy seems much cleverer

“It is much less likely this morning that the Fed will add another 50 bps – seeing that the policy implemented so far has already caused considerable stress.” 

“So far, I have found nobody who projects a rate cut, but I expect the first projections of this nature during the day if nervousness does not ease immediately.”

“And not just that the Fed expectations are now having to be massively revised to the downside. Suddenly the much more cautious ECB policy seems much cleverer. Because it leaves more time for market participants to adjust.”

“That is how quickly the Dollar can lose its status as a safe haven, which it enjoyed against the Euro recently!”

 

Mar 13, 2023

Gold price bulls are aiming for $1,890, amid softer US Dollar and falling yields

XAU/USD is surging higher in the last four days and is up around 1% on the day. Falling US Treasury yields have fueled the Gold price higher as the ma
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Mar 13, 2023

SVB Collapse: It is too early to call the all-clear on the sector – ING

Economists at ING asses the Silicon Valley Bank fallout.So far the system looks fine, but it needs to be treated with caution ahead, just in case. The
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