The December 2024 edition of Market Services FX Spotlight features global market news and insights from RBC Investor Services' Foreign Exchange (FX) Market Trading Desk.
Headlines
The traditional “Santa rally” is expected across equity markets as the year end approaches
—Market Services FX Spotlight
- Central banks continue their downward trajectory, led by Bank of Canada
- EUR posts a low not seen since 2022
- Early Trump rhetoric singles out Canada, Mexico and China—all three currencies sell off relative to the USD
- Political uncertainty picks up in France with a follow through in the bond market
- Bank of Korea surprises the market with a consecutive 25 bps rate cut
- Asia EM FX broadly weakens against the USD following the U.S. election, and continued weakening is anticipated
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