The Currency Exchange - An FX Podcast by NatWest
Keep up to date with the latest in FX markets with The Currency Exchange podcast. Each week, the NatWest Markets team of FX strategists – Eimear Daly, Brian Daingerfield, and Paul Robson – help investment professionals and corporate treasurers get to grips with the biggest themes & events moving global currency markets. Check back here regularly for new episodes and subscribe to The Currency Exchange wherever you get your podcasts so you can listen to our latest episodes as soon as they’re available.
Episodes
76 episodes
What's been happening in emerging markets? (18 October '24)
This week Eimear Daly is joined by Alvaro Vivanco to discuss moves in emerging market currencies. They ask how the macro environment is affecting matters, analyse why some currencies have underperformed and find that many market participants ar...
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13:49
Edging closer to the US elections (10 October 2024)
With less than 25 days to go until the US presidential elections, Eimear Daly is joined by Brian Daingerfield to discuss how the outcome may affect the fortunes of the dollar, as well as the US economy. Given the continuity of Democratic policy...
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11:55
Middle East special
Amid the concerning escalation of attacks and reprisals in the Middle East, Paul Robson is joined by special guest and International Advisor Scott Livingstone to talk about geopolitics in the region and beyond. They discuss the speed at which t...
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18:15
A cut, a hold and what they mean for sterling and the US dollar
This week markets on both sides of the Atlantic were subject to diverging decisions towards monetary policy. Join Brian Daingerfield and Paul Robson as they analyse the Fed's decision to cut rates by 50 basis points in the US, and the Bank of E...
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17:01
Don't panic and mostly harmless...
...such is Paul Robson's assessment of the UK economy and the prospects for sterling. This week he and Brian Daingerfield also discuss rate cutting developments with the euro and latest news in the US presidential election race. NB:...
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2:32
Can Harris surf the political wave? (06 September '24)
Returning from the August break, the Currency Exchange team ask how the US election race is affecting markets. This week Eimear Daly is joined by Brian Daingerfield to discuss the early days of Kamala Harris’ bid for White House glory, and whet...
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14:09
Where next for GBP and USD?
The Bank of England cut Bank Rate by 25 basis points this week while the Fed opted for a hold, so what does all of this mean for the outlook for GBP and USD in the months ahead? Brian Daingerfield and Paul Robson take a closer look, and they al...
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22:16
Political drama and rates uncertainty…
…so just another week in FX markets. Joe Biden’s withdrawal from the 2024 presidential race added more drama to the US political narrative, but what does the handover to Kamala Harris mean for markets? This week Brian Daingerfield is joined by ...
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24:56
Carry vs. fundamentals vs. politics - what’s driving FX in the Americas?
This week, Alvaro Vivanco and Eimear Daly dig deeper into some of the big drivers for FX in the Americas with a particular focus on Mexico, Brazil, Colombia and Peru.Remember to hit ‘subscribe’ or ‘follow’ so you can watch or listen to t...
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13:14
Good news on inflation, but what will the Fed do next?
This week Brian Daingerfield is joined by Kevin Cummins to talk about recent, encouraging data on US inflation. But one print can’t rule them all: the Fed needs to weigh unemployment and services inflation data too, among other signals, when de...
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15:36
How do markets treat political risk?
In a period of potential (ok, likely) political change in the UK and France, Brian Daingerfield and Paul Robson ask how currency markets account for risks around election time. Whereas a Labour victory appears priced into the level of sterling,...
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24:40
Carry for the sake of carry?
This week Eimear Daly is joined by Alvaro Vivanco to discuss currencies in emerging markets. They cover developments across Latin America, and share their views on what’s driving valuations of the South African rand. Remember to hi...
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9:06
Political extremes and market swings - 21 June '24
This week Brian Daingerfield is joined by special guest Joann Spadigam to talk about the political movements in Europe, and the prospects for President Macron in the upcoming elections. They cover how the uncertainty is affecting financial mark...
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22:24
Politics, risk and the pound – 14 June '24
After a week of further election announcements, an element of political risk has returned to FX markets. In this episode, Eimear Daly is joined by Brian Daingerfield and Paul Robson to discuss how the backdrop is affecting the fortunes of major...
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17:51
7 June '24: Elections, emerging markets and currency moves
2024 is a year of elections, and in recent weeks there have been some deep shifts in the politics of emerging market economies. In this episode, Brian Daingerfield is joined by Eimear Daly, Alvaro Vivanco and Aditya Sharma to discuss the FX imp...
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22:24
28 May 2024: Emerging markets focus
This week Eimear Daly and guest Alvaro Vivanco discuss the fortunes of emerging market currencies. They look ahead to the election in South Africa, and how this may affect the rand, plus they discuss the situation in Europe, including the Hunga...
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11:55
Assessing the Fed's confidence
In this US dollar special, host Brian Daingerfield is joined by Kevin Cummins to discuss the latest data affecting the dollar. Recent inflation news was softer than had been feared by some, but were other economic prints a step in the right dir...
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21:00
How we’re feeling about GBP after the BoE’s ‘dovish hold’
Brian Daingerfield and Paul Robson discuss the longer-term prospects for GBP following the Bank of England’s decision to keep rates on hold this week. They also delve into our latest views on FX heading into a critical US inflation print. Final...
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19:58
Further divergence, and a quick yen update
Join host Brian Daingerfield and guest Paul Robson as they focus on the fortunes of major currencies. For sterling the dominant market factor appears to be yield ahead of likely rate cuts, while the Fed's base case is for cuts later in the year...
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23:04
Yen intervention?
After a week of historical lows for the yen, Eimear Daly and Brian Daingerfield speculate on whether the Bank of Japan has recently intervened to defend the currency. FX markets seem to think so, but what other signals are markets reading? &nbs...
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19:03
Middle East focus
Eimear Daly and Brian Daingerfield discuss the impact of rising Israel/Iran tensions on FX markets, touching on potential for further escalation, the prospect of reduced oil supplies, and drivers of oil supply and demand outside of geopolitics....
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19:51
Bucks' fizz
This week host Imogen Bachra is joined by Joann Spadigam and Deepika Dayal to pick over recent developments in bond markets. Much of the focus this week was on developments in the US, where higher than expected inflation is thwarting the Fed’s ...
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14:32
Emerging markets, growth and contained inflation
This week host Eimear Daly is joined by Alvaro Vivanco to discuss emerging markets (EM) and developments in eastern Europe. In EM, much of FX hinges on developments at the Fed with the US dollar. They discuss how China is setting the tone in ba...
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9:27