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Policy
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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessGoldman USD Forecast Under Review, Still Expect TW Depreciation Medium Term
Goldman Sachs note that "despite the hawkish June FOMC meeting, we do not see a case for sustained Dollar appreciation. Most importantly, our own Fed expectations are more dovish than current market pricing: our economists forecast one rate hike by end-2023 compared to the roughly three currently priced in. They also note that the liftoff timeline could be pushed back again if inflation falls back more significantly or if fading fiscal support weighs sufficiently on growth. Moreover, activity is rebounding from depressed levels in other economies, and many other central banks will also need to move away from easy monetary policy over time (including in EM, as discussed below). Finally, the Dollar remains overvalued and highly positioned following U.S. asset market outperformance during the last business cycle, pointing to more structural downside than upside. In light of the FOMC meeting we are putting our Dollar cross forecasts under review, but continue to anticipate trade-weighted depreciation over the medium-term."
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.