News & Analysis

FX markets defied a dull economic calendar last week, delivering substantial volatility and abnormally-large moves on the back of global recession fears and a mounting energy crisis in Europe. The US dollar received a haven bid, pushing the broad dollar index to a 20-year high. In the week ahead, there will be plenty of market-moving economic data, alongside central bank decisions from the Reserve Bank of New Zealand, which we expect to hike 50bps, and the Bank of Canada, which is likely to follow the US Federal Reserve with a 75bp hike.

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Authors: 
Simon Harvey, Head of FX Analysis
Jay Zhao-Murray, FX Market Analyst
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