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Mar 02, 2020 | Monthly Currency Outlook

Currency Market Outlook - March 2020

Our March report outlines the key events and drivers that our analyst team expect to impact FX currency markets in the weeks ahead.

Written by George Vessey, UK Currency Strategist 

Highlights include:

USD: The dollar’s spike showed few signs of abating anytime soon. But sooner or later the buck’s tide could turn. Eventual containing of the coronavirus could check the dollar’s safe haven-inspired gains.
CAD: The longer run horizon appears brighter for Canada as copious amounts of global central bank stimulus bodes bullishly for global growth.
GBP: As well as key macroeconomic data throughout the month, the pound will also be sensitive to coronavirus updates and any impact on overall market sentiment.
EUR: The euro’s low valuation won’t avoid new pullbacks if the Eurozone continues. underperforming against its peers. A better global outlook would however give the currency some fresh air to rerate modestly.
JPY: Japan faces a threat of recession in Q1 as the world’s third largest economy is vulnerable to weaknesses from its Chinese partner. Investors will focus on the Bank of Japan and its approach to risk.

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