News & Analysis

Following a volatile year defined by rising inflation pressures and an aggressive removal of monetary accommodation, the macro environment is unlikely to ease up for investors in 2023. Not only are dominant themes of the past year set to persist, but investors will also likely face new macro crosswinds in the form of financial stability risks, the impact of China’s economic reopening on strained commodity markets, growing political fragmentation, and reduced scope for fiscal policy to actively smooth out economic fluctuations. On the whole, we expect this to culminate in FX volatility remaining above recent historical averages, trends in major currency pairs to be shorter, and the need for macro investing to be even more agile.

Read our Macro Outlook 2023 here:

DOWNLOAD THE FULL REPORT

 

Authors: 

Simon Harvey, Head of FX Analysis

Jay Zhao-Murray, FX Market Analyst

María Marcos, FX Market Analyst

Nick Rees, FX Market Analyst

 

Disclaimer
This information has been prepared by Monex Canada Inc., an execution-only service provider. The material is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is, or should be considered to be, financial, investment or other advice on which reliance should be placed. No representation or warranty is given as to the accuracy or completeness of this information. No opinion given in the material constitutes a recommendation by Monex Canada Inc., or the author that any particular transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research, it is not subject to any prohibition on dealing ahead of the dissemination of investment research and as such is considered to be a marketing communication.