Foreign Exchange Strategy

Our premier currency service provides both tactical and strategic recommendations, with actionable strategies and trading ideas.

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The Future Of The Hong Kong Dollar Peg

The HKD is facing its most critical test in several decades. While the peg is likely to survive (Feature Chart), the eco...

Will Cryptocurrencies Displace Fiat?

The rise in the prices of various cryptocurrencies has taken many investors by surprise. $1000 invested in bitcoin at th...

Currency Valuation And Long-Term Returns: Part I

Valuations matter less over the short term, but most currencies gravitate towards fair value in a 3-to-5-year timeframe....

“Five to ten years out, returns on traditional asset classes such as equities and bonds might pale, compared to history. An active currency strategy will be critical to add alpha.”

Chester Ntonifor, Strategist, Foreign Exchange Strategy

Proven Framework

Our framework, which has evolved since the creation of the service, remains grounded in the same tenets and has proven resilient over time.

Contrarian

We are not afraid to go against the consensus. That said, we also pay close attention to the pulse of markets, especially when momentum is in the driving seat.

Track Record Since 2002

We have a long track record of making accurate calls in currency markets.

High-Frequency Indicators

Currency markets are the ensemble of both domestic and external information, and as such are one of the best high-frequency indicators.

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In The News

Ausbiz interviews Chester Ntonifor to discuss how forex investors should navigate inflationary trends

Chester Ntonifor discuss the USD outlook with Ausbiz

Our Track Record

Foreign Exchange Strategy has a proven track record of helping our clients make the right calls.

Jun 2023

We suggested the Australian dollar will outperform at the crosses, especially relative to the Canadian dollar and Swedish krona

Dec 2022

We predicted a trading range for the dollar until it was clear we were entering a recession, which will trigger an overshoot.

Jul 2021

We went long a basket of Scandinavian currencies, especially the Norwegian krone, relative to the euro and US dollar. This was also a play on higher oil prices.

May 2020

We predicted a dollar bear market, and went short the gold/silver ratio as a high beta play on a lower dollar.

What is included

Foreign Exchange Strategy - What's Included

Weekly Reports

We discuss key issues currency markets are grappling with on a cyclical (6-12 month) horizon, along with a roadmap for strategy.

Strategy Insights

A quick take on currency market-moving events, and a venue to highlight new opportunities or risks in a timely manner.

Special Reports

A focus on original investment ideas, drilling down into the key issues affecting the currency outlook.

Webcasts

An interactive forum where we get to communicate our latest thoughts with clients, and field questions that might arise.

Conference Calls

A more personal touch with clients, to address specific needs not covered in the wide array of previous communiques.

Proprietary Models

Using various modelling techniques, we keep our forecasts grounded to fundamental data.

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Chester Ntonifor

Strategist, Foreign Exchange Strategy, Global Fixed Income Strategy

Chester focuses on currency allocation, developing overlay strategies and actionable trading ideas.

Chester began his career at BCA in 2008 as an Associate within the Foreign Exchange Strategy service. He later transitioned to the role of Editor for the Global Investment Strategy and Commodity & Energy Strategy services. He left the firm in 2016 to join a global macro fund, where he helped manage a multi-billion-dollar portfolio focused on Asia-Pacific currencies and equities. Chester rejoined BCA in 2019 as a Strategist for the Foreign Exchange Strategy service.

Chester holds a degree in Computer Science from McGill University and an Economics degree from Concordia University.