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31 August 2022
It’s easy for J.Powell to sound hawkish according to Patrick Idquival from Ebury and it’s his view the Fed has to stick on this path for the rest of this year as it continues its current tightening cycle
The continuous move in US rates leaves him bullish on the USD and bearish on the AUD as he doesn’t see the RBA being as hawkish despite the bond market pricing. Patrick will stay bullish on the USD till around December and he said to expect a couple of dead cat bounces between here and the US71 cents mark. This week Patrick said he’s focused on the Euro, with the EUR/USD tinkering around parity and being briefly below it last week, he said he will continue to be bearish on the currency until he sees movement from the ECB. He explained the ECB’s window to hike rates is shortening so they need to act quickly.
Watch full interview here
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