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Nvidia momentum spills over to FX markets
The ripple effects of Nvidia's exceptional performance extend far beyond individual stocks, resonating across diverse sectors, geographies and asset classes. We look at the impact on the FX markets, where risk-on mood is pushing activity currencies AUD, NZD, SEK and GBP higher while weighing on traditional safe-havens JPY and CHF. Notable FX crosses, such as AUDJPY and NZDJPY, experienced significant gains and NZD crosses could be compelling ahead of RBNZ meeting next week. However, geopolitical developments could be key for momentum extension. It is remarkable how the performance of a single company like Nvidia can ... (full story)