Macro and Currency Outlook for Q1 2022
Millennium Global is pleased to share its latest Q1 2022 Currency and Macro Quarterly Outlook document:
Global recovery likely to continue:
- Stronger labour market led by the US driving outperformance
- Wage prices likely to drive persistence of inflation
- Covid 19 ever present in markets. Vaccination progress has accelerated, zero covid strategies questionable
Policy diversion likely to be the strongest driver of currency markets. Central banks willing to normalise balance sheet policies in most countries. However only specific markets likely to deliver monetary policy tightening despite broader pricing.
CPI outlook likely to be critical in defining central bank monetary policy delivery.