Authored by: Jason Widjaja

From Dollar Dominance to Divergence

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Since December 2015, currency markets have become increasingly divergent, with the US dollar simultaneously weakening and strengthening against different currencies. To provide investors with a better understanding of how their base currency is performing, this chart book presents analysis of historical currency momentum, valuation, and fundamentals in five key base currencies: US dollar (USD), British pound (GBP), euro (EUR), Swiss franc (CHF), and Japanese yen (JPY).

What’s Next for the US Dollar?

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Even given the recent decline in the dollar, we still view the currency as vulnerable in the near term, but it ultimately has more to run before the next depreciation cycle begins.

Australia Outlook 2015: Still Cautious

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A subdued growth outlook and increased volatility for many asset classes mean investors should be cautious in 2015  We continue to have concerns about the Australian macro environment and expect muted growth and inflation in Australia. China’s rebalancing economy is a top concern for Australia, combined with uncertainties in the domestic economy. Fair valuations and…

New Zealand Outlook 2015: Can the Divergence Last?

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New Zealand’s economy is well positioned compared to other major economies, and especially relative to Australia, but external factors will likely impact the local economy and markets New Zealand equities are within our fair value range, though they are getting more expensive. Investors should maintain neutral allocations and, in their foreign equity exposure, overweight European…