leung from investment management platform stashaway. are a few things that drive gold and crypto prices higher. the first one is the quality and the second is the us dollar. let's talk about liquidity. easing from china and also from the us, the fed has actually been injecting liquid italy, overnight repo facility. so also from a seasonality perspective, november december actually quite favourable in terms of financial conditions, and indeed the rally, or the fall of interest rates have helped also financial conditions to ease in the past few weeks and hence we've seen a surge in liquidity in the system and that propels both gold and crypto currencies higher. the next reason is for the us dollar. both gold and crypto currencies is dominated by us dollars. when the dollar becomes weaker that is a tailwind for the causes. given that the market is now pricing in an increasingly probability of cuts are starting as early as april next year, the us dollar has been weakening versus both other currencies including gold and crypto currencies. th

stephanie leung from investment management fund stashaway explained to me what is behind this surge.here are a few factors that drive gold prices and also crypto prices higher. specifically i think two factors actually drive these two classes. the first one is liquidity and the second one is the us dollar. let's talk about liquidity, i think in the past few weeks we have seen actually easing from china and also from the us. the fed has been injecting liquidity through overnight repo facility. also from a seasonality perspective. november, december tends to be quite favourable in terms of financial conditions. the rally in bonds and the fall of interest rates has helped also financial conditions to ease in the past few weeks. hence we have seen a surge in the liquidity and the system and that propels both gold and crypto currency higher. the next reason is the us dollar. both gold and crypto currencies are denominated in us dollars and when the us dollar becomes weaker, that is actually a tailwind for both asset classes. as we mentioned, given the market is now pricing in increasingly

stephanie leung from investment management platform stashaway explained to me what is behind this surgeere are a few factors that drive gold prices and also crypto prices higher. specifically, i think two factors actually drive these two classes. the first one is liquidity and the second one is the us dollar. now, let's talk about liquidity — i think in the past few weeks we have seen actually easing from china, and also from the us, the fed has been injecting liquidity through running down its overnight repo facility. also, from a seasonality perspective, november, december tends to be actually quite favourable in terms of financial conditions. indeed, the rally in bonds or the fall of interest rates have helped also financial conditions to ease in the past few weeks. hence, we have seen a surge in liquidity in the system and that propels both gold and crypto currencies higher. the next reason is the us dollar. now, of course, both gold and crypto currencies are denominated in us dollars and when the us dollars become weaker, that is actually a tailwind for both asset classes. obviousl

leung from investment management platform stashaway.

stephanie leung from investment management fund stashaway explained to me what is behind this surge.gher. specifically i think two factors actually drive

stephanie leung from investment management fund stashaway explained to me what is behind this surge.pecifically i think two factors actually drive these two classes.

stephanie leung from investment management platform stashaway explained to me what is behind this surge

joining us is stephanie leung, chief investment officer of stashaway. stephanie: you have to ask about what is the market pricing in versus what are the possible scenarios going for the next 3-6 months? clearly the market is pricing in a soft landing scenario. inflation will be able to come down allowing the fed to start to cuts. including the ecb and other central banks. as early as the first quarter of 2024. that is a pretty optimistic assumption given a few things. number one, rewind back to a few months ago. market was expecting the fed to start cutting inflation proved to be a bit more sticky than what the market was thinking at the time. even the fed was thinking they would cut in 2023. i think if you look at inflation itself, there is quite a bit of good news on that front in recent weeks. look at core pce for example, trending closer to 2.5%, the fed target. the number tends to be more volatile. if you look at some of these supply-side inflation numbers, that is still rather sticky. what has been coming down is the demand led inflation figures.