In this week's Investment Outlook podcast, Global Chief Investment Officer Christian Nolting shares his quick takes on the earnings season, the Federal Reserve's meeting minutes, and what recent data tell us about the Eurozone economy.
The focus on price pressures in the Fed minutes mean that "if inflation would start to pick up, the Fed probably would have to hike rates", he said. But Christian still expects the Fed to begin lowering rates in the second half of the year. Looking at the ECB, he anticipates a rate cut in June, and says "everything else would be a massive surprise".
Finally, Christian elaborates on the price jumps of both copper and gold this year. "The current inflationary environment of 2-4% is a nice environment for gold", he says. But even as prices pressures ease, industrial metals like copper could continue to benefit, as "there's more demand for infrastructure, such as data centres".
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