The situation on the foreign exchange market always attracts the attention of society and experts.
Therefore, the investment company Goldman Sachs has released its forecast for the key currencies in the world, Chronicle.info reports with reference to Channel 24.
Goldman Sachs experts believe that in 2022 the US dollar will gradually decline if the US Federal Reserve signals a gradual tightening of monetary policy. The maximum risks for the US national currency are expected in early 2022.
Goldman Sachs forecast for currencies in 2022
The Canadian dollar has every chance of strengthening its position in the market and gaining the status of the best currency of the Big Ten. & Nbsp; And the Australian dollar is the main outsider among the world's top currencies. & Nbsp; These forecasts illustrate the difference in monetary policies of Canada and Australia. & Nbsp; Besides In addition, the positions of these currencies are also affected by the difference in the dynamics of key commodities that play an important role in the economies of the two countries:
- oil prices & nbsp; is of significant importance for Canada,
- whereas in the context of Australia we are talking about & nbsp; iron ore and copper prices.
What is the Big Ten or G10 currencies
These are the ten most traded currencies. & nbsp; They are also the 10 most liquid currencies in the world. & nbsp; Traders regularly buy and sell them on the open market with minimal impact on international exchange rates. & Nbsp; This list includes the US dollar, Canadian dollar, British pound, euro, Swiss franc, Japanese yen, etc.
Goldman Sachs analysts also noted that unless the European Central Bank changes its rhetoric in favor of a stronger hawkish policy (curbing inflation expectations and actually increasing interest rates), monetary policy normalization will not be able to support the European currency. This strategy is also called & # 171; buy time to get to the other side & # 187;. The Chinese yuan also has the potential to strengthen its position against the dollar, although this process will be slower even if the Chinese current account surplus shrinks.