Virus, volatility and valuations

Virus, volatility and valuations

4X Global Research Fixed Income Research & Macro Strategy (FIRMS) – 27 February 2020 In reaction to the coronavirus epidemic governments across the world have enacted measures unprecedented in recent decades, including closing national borders, setting up...
Virus, volatility and valuations

Depressed FX volatility allows for few surprises

Fixed Income Research & Macro Strategy – 4X Global Global FX volatility has fallen further in the past month to its lowest level since September 2014 according to our estimate (see Figure 1). Volatility in most major currencies has either fallen or only...
Morgan Stanley smells an FX change coming in 2019

Morgan Stanley smells an FX change coming in 2019

Morgan Stanley out with a note on what to expect in 2019 Morgan Stanley have looked into the crystal ball to see what themes will be driving FX prices next year. They’ve also updated their forecasts. EURUSD Q1 2019 1.17 vs 1.19 prior Q2 1.20 vs 1.24 prior Q3...
FX update as we await the Fed

FX update as we await the Fed

What’s going on right now? EURUSD – on the back foot and largely driven by selling in EURGBP. That’s also putting a drag on EURJPY. GBP buying looks to be the driver of it all. EURUSD is into the recent area of support 1.1720/30 and a break might...

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