Market Insight 25-06-2024

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  • Market Insight 25-06-2024


Position adjustments in anticipation of Friday’s US inflation data and a lack of Tier 1 economic data led to narrow trading ranges in the currency markets yesterday. The Japanese Yen was an exception, continuing its decline and hitting an all-time low against the EUR before rumours of Central Bank intervention stabilised the currency. In the UK, the latest CBI manufacturing survey showed an increase in the balance of manufacturing output expectations to 13 from a previous 7, marking the highest level since October last year. Additionally, Nvidia, the world’s most valuable company, saw a sharp 7% decline in its stock during yesterday’s trading session as risk sentiment worsened.


  • USD: Fed’s Bowman and Cook

Market Insight:

Ahead of Thursday’s Biden/Trump debate, investment banks are starting to release their post-election USD forecasts. The consensus suggests a stronger US dollar if Trump is re-elected, as markets view his protectionist policies, including a proposed 60% tariff on all Chinese imports, as favourable for the USD.