Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Chief Macro Strategist
Summary: Risk sentiment has managed to maintain an even keel on the latest US-China trade news and through today’s US economic data. This has seen a broadly firm US dollar, together with firmness in oil-related currencies like NOK and CAD. On the weak side, GBP and AUD continue to suck wind.