FX Strategist

Greg Gibbs

Greg has had a long career in foreign exchange, beginning at the Reserve Bank of Australia in 1989.  He was the first economics graduate at the Bank to be assigned to the foreign exchange dealing desk. Greg learnt from highly respected stewards of policy and market development at the Bank.  He played a leading role in establishing the Bank’s approach to asset and currency management of its international reserves, and managed the Bank's Japanese bond portfolio for a year before joining the private sector in 1995.

In October 2015, Greg launched his own FX research company, Amplifying Global FX Capital, after completing duties at the Royal Bank of Scotland in Singapore where he was the Head of Asia Pacific Markets Strategy since February 2014.  His flagship  report (AmpGFX) is available here on SmartKarma.

He has maintained a trading track record since March 2013. The results are very good over this period. There have been significant macro developments that suit his approach to markets. He is now managing his own capital and will often have positions in the markets that he is writing about in his AmpGFX report.

For a detailed biography and trading performance analysis head to the ampGFXcapital.com website.

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

FX & Rates

The USD’s performance last week was particularly lackluster after what should have been a supportive FOMC statement, and it was slapped back into a broad down-trend by a disappointing BoJ meeting and a weak US Q2 GDP report.Not only did the BoJ fail to meet expectations of more QQE/NIRP, its decision to raises ETF purchases and support USD borrowing reduce Japanese demand for foreign currencies, exacerbating the rise in JPY. The BoJ said it was planning a “comprehensive assessment” of its QQE/NIRP policies at its next policy meeting, suggesting that it may yet be constructing a rabbit to pull out of the hat, but you are likely to suffocate under the weight of a sinking USD/JPY if you hold your breath.US politics have become a risk for the USA and global economy.  The Trump phenomenon has already pushed the USA in a protectionist direction against free trade.  The final months of the USA election campaign may dampen US activity, and there is a lack of hope that much good will come of the next USA presidency. Global growth appears anemic, uncertainty is high, and confidence in the effectiveness of further monetary policy easing is low. Anti-establishment politics is on the rise, weakening and delaying government responses to economic challenges. It appears quite possible that we will continue to limp into next year with the same market trends that have played out this year.  Weak to modest global economic growth, stubbornly low inflation and inflation expectations, low and perhaps even lower global bond yields, pressuring global equities higher in an environment of low investor confidence.  A weak USD, uncomfortable strong JPY, and upward pressure on emerging and commodity currencies with higher albeit diminishing yields.The USD appears to be bearing the brunt of any weakness shown in the US economy.  Rate hike expectations have been whittled back to low levels and strong data could give the USD a reprieve, but the market appears to need more convincing that the Fed is prepared to raise rates.

The USD’s performance last week was particularly lackluster after what should have been a supportive FOMC statement, and it was slapped back into a broad down-trend by a disappointing BoJ meeting and a weak US Q2 GDP report.Not only did the BoJ fail to meet expectations of more QQE/NIRP, its decision to raises ETF purchases and support USD borrowing reduce Japanese demand for foreign currencies, exacerbating the rise in JPY. The BoJ said it was planning a “comprehensive assessment” of its QQE/NIRP policies at its next policy meeting, suggesting that it may yet be constructing a rabbit to pull out of the hat, but you are likely to suffocate under the weight of a sinking USD/JPY if you hold your breath.US politics have become a risk for the USA and global economy.  The Trump phenomenon has already pushed the USA in a protectionist direction against free trade.  The final months of the USA election campaign may dampen US activity, and there is a lack of hope that much good will come of the next USA presidency. Global growth appears anemic, uncertainty is high, and confidence in the effectiveness of further monetary policy easing is low. Anti-establishment politics is on the rise, weakening and delaying government responses to economic challenges. It appears quite possible that we will continue to limp into next year with the same market trends that have played out this year.  Weak to modest global economic growth, stubbornly low inflation and inflation expectations, low and perhaps even lower global bond yields, pressuring global equities higher in an environment of low investor confidence.  A weak USD, uncomfortable strong JPY, and upward pressure on emerging and commodity currencies with higher albeit diminishing yields.The USD appears to be bearing the brunt of any weakness shown in the US economy.  Rate hike expectations have been whittled back to low levels and strong data could give the USD a reprieve, but the market appears to need more convincing that the Fed is prepared to raise rates.

AmpGFX - USD Bearing the Brunt of Anemic Global Economic Confidence