FX Strategist

Greg Gibbs

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

FX & Rates

Major corrective moves may be underway in EUR and NZD. Further weakness may also be in stall for CAD and AUD.  In the case on EUR, CAD and AUD, long positions and bullish sentiment leave them vulnerable to position-squaring.  The EUR has moved too far from its yield disadvantage, and it is not as cheap as some might have you believe.  The Bank of Canada has moved into a watch-and-wait mode. The political shockwave in NZ may be the catalyst for a major realignment in the NZD’s long-run over-valuation.  AUD is suffering from weaker house price growth in Australia and China, the RBA is badly missing its inflation target, and its politics are hardly a shining example for any country.

Major corrective moves may be underway in EUR and NZD. Further weakness may also be in stall for CAD and AUD.  In the case on EUR, CAD and AUD, long positions and bullish sentiment leave them vulnerable to position-squaring.  The EUR has moved too far from its yield disadvantage, and it is not as cheap as some might have you believe.  The Bank of Canada has moved into a watch-and-wait mode. The political shockwave in NZ may be the catalyst for a major realignment in the NZD’s long-run over-valuation.  AUD is suffering from weaker house price growth in Australia and China, the RBA is badly missing its inflation target, and its politics are hardly a shining example for any country.

Economist (US Macro), RDQ Economics

Conrad DeQuadros

Economist (US Macro)

RDQ Economics

RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.  
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Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
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The founders of RDQ Economics—John Ryding and Conrad DeQuadros—worked together on Wall Street for a decade, in the independent research space for nine years, and have experience in central banking at the Federal Reserve and the Bank of England.  John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.

G7 monetary winds began to shift with the Fed’s December 2013 tapering of its bond purchases.  This was followed by additional Fed actions and moves by other major central banks: the Fed has delivered four quarter-point rate hikes since December 2015 and launched a very gradual wind down of its balance sheet this month, the Bank of Canada raised rates in September, and the Bank of England has guided toward a rate hike at its November 2 MPC meeting.  Even the Bank of Japan has slowed the…

G7 monetary winds began to shift with the Fed’s December 2013 tapering of its bond purchases.  This was followed by additional Fed actions and moves by other major central banks: the Fed has delivered four quarter-point rate hikes since December 2015 and launched a very gradual wind down of its balance sheet this month, the Bank of Canada raised rates in September, and the Bank of England has guided toward a rate hike at its November 2 MPC meeting.  Even the Bank of Japan has slowed the…

ECB Belatedly Joining The Shifting Monetary Winds

It is universally anticipated that the ECB announces a significant taper or reduction in the pace of its asset purchases on Thursday this week.  Expectations have settled on a halving in the monthly amount to EUR30bn, while adding nine months to the current program that ends in December this year. However, it appears that most market analysts see a risk that the ECB over-delivers with either a faster or larger taper, creating upside risk for Euro yields and the EUR.  They may be justified by the stable and solid Eurozone recovery underway.  However, the ECB has been at pains this year to avoid severe market reaction to a seemingly inevitable policy taper.  And they have expressed explicit concern over the strength in the EUR since its September policy meeting.  The ECB is likely to be very wary of exceeding taper expectations; expectations that it appears to have fed the market some weeks ago.  Market positioning appears to be quite long EUR.  In our view, the EUR is more vulnerable to a correction lower as the market shifts focus from the taper to the ECB’s low rate commitment and the wider EUR yield disadvantage this year.

It is universally anticipated that the ECB announces a significant taper or reduction in the pace of its asset purchases on Thursday this week.  Expectations have settled on a halving in the monthly amount to EUR30bn, while adding nine months to the current program that ends in December this year. However, it appears that most market analysts see a risk that the ECB over-delivers with either a faster or larger taper, creating upside risk for Euro yields and the EUR.  They may be justified by the stable and solid Eurozone recovery underway.  However, the ECB has been at pains this year to avoid severe market reaction to a seemingly inevitable policy taper.  And they have expressed explicit concern over the strength in the EUR since its September policy meeting.  The ECB is likely to be very wary of exceeding taper expectations; expectations that it appears to have fed the market some weeks ago.  Market positioning appears to be quite long EUR.  In our view, the EUR is more vulnerable to a correction lower as the market shifts focus from the taper to the ECB’s low rate commitment and the wider EUR yield disadvantage this year.

Emerging Markets Cross-Asset Strategist, Emvest Partners

Guillaume Coutant

Emerging Markets Cross-Asset Strategist

Cross-Asset Emerging Markets Technical Research

Emvest Partners

Emvest Partners is the leading independent French financial analyst specializing in Emerging Markets for  Asset Managers, Hedge Funds and Family Offices. The studies provided by Emvest Partners are based on a top-down, cross-asset and relative-value approach of the financial markets. The articulation of macroeconomic analysis and technical analysis improves the consistency of the recommendations, the mitigation of risks of error and a significant improvement in performance.

Technical Analysis

EURPLN has benefited from both a weaker EUR and a Zloty that continued to resist external pressure and benefit from EM attractiveness. PLN is among the best performing currencies.From a technical point of view, it exited to the downside from a longer term flat range, with a potential at 4,05, and pulled back on it at 4,33.Indicators are clearly oriented to the downside, with a Moving Average resistance at 4,2750, also new graphical line.The market is expected to range between 4.22/4.20 and…

EURPLN has benefited from both a weaker EUR and a Zloty that continued to resist external pressure and benefit from EM attractiveness. PLN is among the best performing currencies.From a technical point of view, it exited to the downside from a longer term flat range, with a potential at 4,05, and pulled back on it at 4,33.Indicators are clearly oriented to the downside, with a Moving Average resistance at 4,2750, also new graphical line.The market is expected to range between 4.22/4.20 and…

The market has spent much of this year unwinding a structural short EUR position.  Bank analysts have shifted to a bullish long-term EUR view, ECB QE taper is largely priced-in, the political risk gap between Europe and the USA has narrowed, and the EUR is now stretched from its widening yield disadvantage.  Traders appear to hold an extreme long EUR position, and a head-and-shoulders top appears to be developing; a break of recent lows might target a fall to 1.13.  The US is making progress towards tax reform, and the market is too sanguine on US inflation risks.  Traders also appear to be holding extreme long positions in CAD, the Bank of Canada has shifted its tone on its policy outlook, Canada housing market is slowing, and negotiations on NAFTA are not going well (although have been extended).

The market has spent much of this year unwinding a structural short EUR position.  Bank analysts have shifted to a bullish long-term EUR view, ECB QE taper is largely priced-in, the political risk gap between Europe and the USA has narrowed, and the EUR is now stretched from its widening yield disadvantage.  Traders appear to hold an extreme long EUR position, and a head-and-shoulders top appears to be developing; a break of recent lows might target a fall to 1.13.  The US is making progress towards tax reform, and the market is too sanguine on US inflation risks.  Traders also appear to be holding extreme long positions in CAD, the Bank of Canada has shifted its tone on its policy outlook, Canada housing market is slowing, and negotiations on NAFTA are not going well (although have been extended).

EUR and CAD Need to Square up to Growing Threats

Germany

The euro is the official currency of the European Economic & Monetary Union. 

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Euro (USDEUR CURNCY)

Major Moves Afoot (EUR, CAD, NZD & AUD)

Major corrective moves may be underway in EUR and NZD. Further weakness may also be in stall for CAD and AUD. In the case on EUR, CAD and AUD,...

Greg Gibbs

ECB Belatedly Joining The Shifting Monetary Winds

G7 monetary winds began to shift with the Fed’s December 2013 tapering of its bond purchases. This was followed by additional Fed actions and...

RDQ Economics

ECB Unlikely to Over-Deliver on Taper

It is universally anticipated that the ECB announces a significant taper or reduction in the pace of its asset purchases on Thursday this week. ...

Greg Gibbs

EURPLN: Drop in Progress and Confirmed

EURPLN has benefited from both a weaker EUR and a Zloty that continued to resist external pressure and benefit from EM attractiveness. PLN is among...

Guillaume Coutant

EUR and CAD Need to Square up to Growing Threats

The market has spent much of this year unwinding a structural short EUR position. Bank analysts have shifted to a bullish long-term EUR view, ECB...

Greg Gibbs

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