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Winter is coming, but this dark and hard period could force politicians and central bankers to lay the foundations for the sun to break through next spring.
Uncertainty is set to loom large over the next months or quarters: political, economic and epidemiological factors will interlock in a complex manner, whereby investors will face great challenges in terms of determining the direction.
Due to corona, Brexit and US election uncertainties, a risk-off sentiment seems inevitable in the short term with a temporary decrease of EUR/USD as a result.
Governments are desperately trying to push forward a lockdown, risking a further increase in Covid infections, which will ultimately hurt consumer confidence with a slower recovery as a consequence.