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Economy

The RBA And BoC Diverge: Implications For AUD/CAD

In this Strategy Insight, we go over the RBA’s recent decision and the implications of its hawkish message for AUD trades.

Foreign Exchange Strategy by Chester Ntonifor
Copper Prices: How Resilient In 2023?
Special Report

Copper prices are vulnerable to the downside in the coming months on a narrowing global supply-demand deficit. We expect that copper prices will plummet by 15-20% from the current level. However, the lingering structural supply deficit will put a floor under copper prices after this correction.

China Investment Strategy
US Banks Continue To Tighten The Screws
The Fed’s latest Senior Loan Officer Opinion Survey (SLOOS), which reports on both the demand for and supply of bank loans, revealed that demand weakened and standards tightened in Q4 2022. In particular, 45% of all banks reported that they “tightened…
Daily Insights
RBA Signals More Hikes Coming
As expected, the Reserve Bank of Australia raised its cash rate by 25 bps on Tuesday to 3.35% -- marking the ninth consecutive rate hike. In particular, Governor Philip Lowe’s statement highlighted that robust domestic demand as well as global factors are…
Daily Insights
A Significant Road Ahead
Powell’s much anticipated comments to the Economic Club of Washington on Tuesday did not signal a shift in the Fed’s outlook following Friday’s unexpectedly strong jobs report. Instead, in his first appearance since last week’s 25bp rate hike, he highlighted…
Daily Insights
US Stocks: Sentiment Still Relatively Downbeat
The S&P 500 is up by 14.9% since its October 2022 low. It surged 7.1% this year alone. The quick snapback after entering a bear market last year raises the question about the sustainability of the rally in US stocks. In terms of technical measures,…
Daily Insights
Eurozone Investor Morale Continues To Recover
The February Sentix Index continues to send a positive signal about investor morale. The Eurozone measure jumped 9.5 points to -8, beating expectations of a more muted rise to -13.5. Notably, the February surge marks the fourth consecutive increase and brings…
Daily Insights
January Survey Results: More Optimistic
In the monthly Daily Insights Survey we conducted last week, we asked our readers about their outlook for global equities. Notably, 57% of the respondents noted that relative to three months ago, the 12-month outlook for global equities has improved, which…
Daily Insights
Are Easing Financial Conditions Good Or Bad?
US financial conditions have been easing since mid-October and are now back in accommodative territory. The equity rally, weakening dollar, lower bond yields and tighter credit spreads have all contributed to looser financial conditions in the US…
Daily Insights
It’s Not Always What They Say, But How They Say It

The Fed’s actions at its meeting last Wednesday were no surprise – downshifting to 25 basis points while guiding for more hikes was widely expected – but Chair Powell’s newly conciliatory tone at the press conference helped to spark a two-day equity rally. We remain overweight equities, expecting the S&P 500 to rally into the mid-4,000s at some point in the first half.

US Investment Strategy by Doug Peta

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