The January 2025 edition of Market Services FX Spotlight features global market news and insights from RBC Investor Services' Foreign Exchange (FX) Market Trading Desk.
Headlines
Volatility can be expected to follow through into markets to kick start the year in what could be a bumpy ride
—Market Services FX Spotlight
- Bank of Canada continued to cut rates and led the Central Banks with the most aggressive cut of 50 bps
- Further Central Bank rate cuts are expected for January
- With broad based USD buying, USD/CAD rose to just shy of 1.45
- Political tensions escalated globally amid terrorist activity, impeachments and tragedies
- Canada's Finance Minister stepped down, revealing a significant deficit and subsequent resignation of the Prime Minister
- The impeachment of President Yoon along with the Jeju Air crash left the Korean Won toiling
- Brazilian Real finished the year among the worst performing major currencies
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