Publications

  Download PDF Subscribe to GPS’ Monthly Market Brief ANALYSIS BY REGION Euro-Area The European Central Bank left all three key policy rates unchanged at the October 26 meeting, leaving the deposit rate at 4%. The message after this meeting was clear, and no more hikes are expected. Various gauges show that underlying price pressures […]

September brought forth intriguing dynamics to the currency market: Can the Euro Bull resist a stronger dollar and high US yields? Will the BOE’s pause trigger a fresh assault on the year-low? EUR/GBP – which will be the survivor of the weakest? To gain deeper insights into these questions and more, read our full analysis.

Central banks like the Federal Reserve (Fed), Bank of England (BoE), and European Central Bank (ECB) are all signaling higher interest rates, with an emphasis on longer-term rate increases. This trend has been driven by rising US treasury yields and disappointing economic data from China, which have impacted currency markets. Additionally, forward-looking ISM Surveys in […]

Download PDF SUMMARY Throughout 2023 FX volatility has been trending lower amid range bound markets. Volatility reached the lowest level earlier this month and there has been a small rally. Across all currencies the term structure of volatility has become more inverted (short dates have rallied more than longer dates). The option prices seen in […]

  Download PDF SUMMARY Global inflation remains stubbornly high. The Bank of England remains on course to deliver additional interest rate hikes. The European Central Bank is on track for two more rate hikes, in July and September. Euro-area core inflation remains one of the biggest issues for the ECB. The US paused at its […]