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With FX volatility at 1-year highs entering into December, we could see larger-than-normal price swings this month. The drivers of the currency market are likely to be:
- Shifting risk sentiment as investors adjust expectations regarding normalisation of monetary policy globally.
- The US Federal Reserve commentary. The Fed has set the tone for other central banks by giving its strongest commitment yet to tightening monetary policy, further commentary could move markets.
- News around the level of threat Omicron poses to the global economy could impact risk sentiment.
- From a technical standpoint, government interest rate differentials will impact currency pair trends as investors chase higher returns.
Omicron brings uncertainty back into currency markets
Read the monthly currency news from the OFX currency specialists and keep informed on the macroeconomics of future currency movements in the coming month.
Currency Outlook archive
- November 2021 – Supply chains, inflation and the currency market
- October 2021 – News and currency moves: 3 events to watch in October
- September 2021 – Fed’s go-slow approach likely to keep USD weaker, for now
- August 2021 – 3 key factors that move exchange rates
- July 2021 – Fedspeak: Why US central bank commentary moves currency markets
- June 2021 – Prices on the rise
- May 2021 – Vaccine rollouts and currency movements
- May 2021 – Making sense of cryptocurrencies
- April 2021 – Why inflation’s return has financial markets on edge
- March 2021 – Risky returns or safe havens
- February 2021 – USDemand: the end of the dollar’s dip?
- December 2020 – what the FX next? Currencies in 2021
- November 2020 – What the FX: Currency markets ride the election wave
- October 2020 – Bracing for Brexit
- October 2020 – 3 steps to prepare for currency volatility
- October 2020 – Votes and volatility
- September 2020 – Stocks, shocks, and currencies
- September 2020 – Euro inflows
- July 2020 – Countdown to the US election
- July 2020 – The flight to safety
- July 2020 – Is a financial crisis ever unprecedented?
- July 2020 – Business as usual