Ontdek onze FX-vooruitzichten van de maand juni 2021.
De afgelopen twee maanden zijn erg bewogen geweest. Als we ernaar kijken door het prisma van de pandemie, is het marktoptimisme - een gevolg van de versnelde vaccinatie in de meeste landen en de geleidelijke opheffing van de lockdownmaatregelen - in de laatste weken afgevlakt. De oorzaak is de besmettelijkere deltavariant, die bepaalde landen ertoe aanzet om opnieuw verstrengingen door te voeren. Finaal dreigen de goede groeivooruitzichten die centrale banken naar boven hebben bijgesteld te moeten worden herzien.
Als we ons baseren op economische indicatoren, kunnen we alleen maar blij zijn dat het economische herstel week na week werkelijkheid wordt door de heropleving van de industriële activiteit en vooral het herstel in de dienstensector. Die laatste zag sinds de uitbraak van de pandemie genoeg zwarte sneeuw. Het zorgenkind is echter de terugkeer van de inflatie, weliswaar niet onverwacht, maar er bestaat twijfel over of de prijsstijgingen tijdelijk zullen zijn. Centrale banken doen er nochtans alles aan om de markten te sussen.
De eerste die haar eigen overtuigingen in twijfel trekt, is de Fed, die tot verbazing van de markten agressiever is geworden in haar vooruitzichten voor toekomstige rentebewegingen. Het mag dan toekomstmuziek zijn, maar verwachtingen zijn vaak voldoende om valutamarkten op hun kop te zetten. Wij nodigen u uit om ons perspectief op de wisselkoersmarkten te ontdekken.
Veel leesplezier,
Mattias, Anton en Jean-Luc
Klik hier voor de FX-vooruitzichten
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