November 2018 – IN BRIEF

What happened
  • Concerns with tit-for-tat tariffs indeed helped boost the U.S. Dollar as a safe-haven
  • Mexican Peso fell dramatically by 8.0% as a $13.0-billion airport project was cancelled
  • Euro reached a 16-month low as EU Financial ministers scrambled to find a solution to Italy’s budget woes
  • Equity markets dipped and climbed wildly in October, benefitting Japanese Yen strength
  • Brexit deadline was postponed to Nov. 21st as we predicted. Sterling as volatile as ever
  • Oil prices had their worst month since 2016, thus kept Canadian Dollar under pressure
Tempus’ view
  • The Fed will make its case for a fourth hike in December as economic data supports it
  • Commodity-based currencies will attempt a comeback after hitting multi-year lows
  • Euro will only regain some value if data is stellar and Italy fixes budget problems
  • Prime Minister Theresa May could find herself making more concessions to get a deal done
  • While elections in the U.S. could signify a change of the guard, greenback appreciation will likely last as global troubles continue
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