ECB is no FED

Monday 23 May 2022

Nordea with a worthwhile piece. Remember, where the EUR goes, AUD follows.

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Risk sentiment remained fragile this week, with equities declining and credit spreads widening. In the Euro area, the risk of a 50bp rate hike has increased, but we are not convinced it will materialise. In the FX space, the GBP remains vulnerable.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.