Nordea provides an update on global monetary policy, highlighting expectations for an ECB rate hike and a steady Fed. The report also discusses the strengthening yuan and the unattractive carry profile of EUR/SEK.
Key Takeaways
- 1.The ECB is expected to raise interest rates while the Fed remains on hold.
- 2.The Chinese yuan continues to appreciate against the USD, supported by policymakers.
- 3.EUR/SEK carry is currently in negative territory and appears unattractive.
Table of Contents
- Macro & Markets: Hiking time
- China is allowing the yuan to strengthen
- EUR/SEK carry looks too low
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Authors
Kristian Nummelin
Securities
USD/CNYEUR/SEK
Themes
Central Bank Policy DivergenceYuan AppreciationCarry Trade Risks
Regions
EuropeAsia PacificUnited StatesChinaSweden