Latest Currency Market Forecast For Businesses. Released Today!

Essential reading for anyone making or receiving international payments. It reviews the last quarter and looks at how the currency markets may unfold over the next three months and beyond.
By: Hawk FX
Latest Currency Market Forecast For Business
Latest Currency Market Forecast For Business
LONDON - July 14, 2020 - PRLog -- The last few years have brought more than their fair share of political and economic surprises and their impact on currency markets has been substantial. And it seems each new year looks to be equally interesting. Our latest Quarterly Currency Market Forecast is essential reading for anyone with a currency requirement. The report provides an expert's insight into the currency markets for the next 12 months, highlighting key factors together with expected ranges for common currencies transacted by our clients.

The second quarter of 2020 will go down in infamy as the deepest recession of our lifetimes. Even though the full picture will not be clear for a couple of months, the granular data that appeared in May and June leaves investors in no doubt that the lockdown brought economic activity almost to a stop in April, leaving no part of the world unaffected.

In June the International Monetary Fund made another downgrade  to  its  World  Economic  Outlook.  The  IMF believes the global economy will contract by 4.9% this year before recovering by 5.4% in 2021. Those projections are 1.9% and 0.4% below the estimates three months ago. The hardest hit are expected to be to Italy and Spain, which were badly affected by the pandemic. In both cases, gross domestic product is expected to shrink by 12.8% in 2020 and to rebound by 6.3% next year.

The progress of Covid-19 played an important part in deciding currency direction, but it was by no means the only  factor.  Investors  also  paid  close  attention  to  the efforts of central banks and governments in their provision of  monetary  and  fiscal  stimulus.  Even  though  most mainstream interest rates had fallen as far as they were going to by the end of March, there was still plenty going on in the arena of quantitative easing and government handouts.

To read the full report, click here to DOWNLOAD REPORT

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