Macro and Currency Outlook for Q3 2021
Millennium Global is pleased to share its latest Q3 2021 Currency and Macro Quarterly Outlook document:
- A fragile, uneven and incomplete global recovery, pointing to differentiated pace of growth across and within regions.
- The unique case of US inflation surge in 2021 to lead to increased central bank divergence, with continued hawkishness from BoC, Norges Bank, a less dovish stance from the BoE, RBA and additional accommodation from the BoJ, ECB to expect in our view.
- Looking for selective support for emerging market currencies from hawkish central banks (MXN, RUB), terms-of-trade gains (ZAR) or cyclical factors (KRW, ILS).