The podcast dives into recent shifts in the foreign exchange market, spotlighting the dollar-euro dynamics post-elections. A closer look at China's counter-cyclical policies reveals efforts to stimulate growth, hinting at yuan depreciation. Meanwhile, the Bank of Japan's potential rate hikes are scrutinized, reflecting the balance of internal and external pressures. Canadian Dollar fluctuations and proactive monetary policies are dissected, shedding light on larger economic trends impacting the Fed. The discussion wraps up with insights on central bank strategies and their currency effects.

Gregory Shearer, Head of Base and Precious Metal Research at J.P. Morgan, shares his insights on the global commodities outlook for 2025. He highlights a continued bullish stance on gold, anticipating price growth alongside silver and platinum. Shearer points out that while oil faces a bearish forecast due to surplus, industrial metals are emerging as economically favorable investments. He discusses the disinflationary trends supported by commodities and investment opportunities in agricultural products, adapting to evolving global dynamics.

Dive into the intricacies of foreign exchange markets with insights on upcoming central bank decisions, including the ECB and SNB. Explore the implications of recent economic sentiment in the Eurozone and the expected rate cuts. Discover how political events, like the U.S. elections, impact market trends. Analyze payroll data contrasts between the U.S. and Canada, shedding light on their currency market effects. Throughout, uncover the dynamics that shape the Euro, Australian dollar, and more in this captivating financial landscape.

Join Srini Ramaswamy, Head of Global Rates Derivatives Strategy at J.P. Morgan, and Teresa Ho, Head of US Short Duration Strategy, as they dissect the 2025 US fixed income landscape. They predict a mild economic slowdown with a 2% GDP growth and discuss upcoming fiscal policy changes, including treasury market responses. The duo explores the stability of money market funds amid Fed easing and delves into the intricacies of inflation and bond yields, offering insights into volatility and strategic investment positioning.

In this podcast Morten Lund, Khagendra Gupta and Octavia Popescu discuss the outlook for the Scandinavian economies, rates, and FX over 2025.   This podcast was recorded on 27 November 2024. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4855621-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Not for the faint hearted.   Speakers Arindam Sandilya, Global FX Strategy Ladislav Jankovic, Global FX Strategy Juan Duran-Vara, Global FX Strategy   This podcast was recorded on 27 November 2024. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4845566-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2024 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Jahangir Aziz, Head of Emerging Market Economics Research at J.P. Morgan, joins Nora Szentivanyi, Global Economist, and Jonny Goulden, Head of EM Fixed Income Strategy, for a deep dive into Emerging Markets' outlook for 2025. They discuss how upcoming U.S. policies may disrupt inflation and investment strategies in these regions. The impact of fiscal vulnerabilities and the necessity of cautious monetary policy are examined, along with navigation of volatility in fixed income markets, highlighting both risks and opportunities ahead.

Join Arindam Sandilya and James Nelligan, both Global FX Strategists at J.P. Morgan, as they delve into the future of the foreign exchange markets. They discuss the U.S. dollar's potential impact from trade issues and elections, while examining the Chinese Yuan's influence on Asia's economy. The forecast for 2025 highlights expected dollar strength and FX volatility. Arindam preps listeners on the complexities facing the Australian and New Zealand dollars, while James unpacks the resilience of Swiss and Scandinavian currencies amid shifting monetary policies.

Aditya Chordia and Khagendra Gupta, both analysts at J.P. Morgan Global Research, dive into the future of the European rates market for 2025. They discuss potential macroeconomic scenarios impacting rates, along with insights on intra-EMU spreads and the evolving political landscape in France. The duo examines the dynamics of German swap spreads and important regulatory trends. They also predict euro volatility tied to the European Central Bank's easing measures, while evaluating the Bank of England's monetary policy and its potential effects on bond yields.

The discussion dives into the intriguing dynamics of the oil market for 2025 and 2026, highlighting how U.S. political shifts could reshape energy policies. There's an exploration of predicted surpluses in oil production, along with the challenges faced by OPEC amidst fluctuating global demand. Price forecasts reveal bearish trends, anticipating Brent prices under $60 by the end of 2026. The conversation also touches on geopolitical factors that could further influence these outcomes, particularly involving key players like Iran and Venezuela.