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.

Macroeconomics

<p><em>Despite another bad day on the Chinese stock market on Monday, China used its currency fix, jawboning and possibly intervention to calm volatility in the CNY exchange rate.  This provided some calm to global markets.  A statement by a PBoC official discussing CNY policy appealed for calm but also highlighted a more flexible approach to currency management.  Below we look at the parallels with the Australian experience in the late 1970s and early 1980s as it moved from a peg to the USD to a crawling peg guided by its trade-weighted index and market forces, and eventually to a floating regime in 1983.  Financial and capital control deregulation go hand in hand and once started create their own-momentum.  China’s policy actions over recent years have illustrated this self-perpetuating catalytic effect.  China is likely to continue its reform process and experiment with increasing currency flexibility over coming years, even if at times it may appear to take backward steps to cool depreciation pressure and calm its own and global financial markets. While this is a sensible policy to put the economy on a path to longer term stability, in the meantime it is likely to add to global market uncertainty and a weaker growth path for China.</em></p>

Despite another bad day on the Chinese stock market on Monday, China used its currency fix, jawboning and possibly intervention to calm volatility in the CNY exchange rate.  This provided some calm to global markets.  A statement by a PBoC official discussing CNY policy appealed for calm but also highlighted a more flexible approach to currency management.  Below we look at the parallels with the Australian experience in the late 1970s and early 1980s as it moved from a peg to the USD to a crawling peg guided by its trade-weighted index and market forces, and eventually to a floating regime in 1983.  Financial and capital control deregulation go hand in hand and once started create their own-momentum.  China’s policy actions over recent years have illustrated this self-perpetuating catalytic effect.  China is likely to continue its reform process and experiment with increasing currency flexibility over coming years, even if at times it may appear to take backward steps to cool depreciation pressure and calm its own and global financial markets. While this is a sensible policy to put the economy on a path to longer term stability, in the meantime it is likely to add to global market uncertainty and a weaker growth path for China.

Parallels with China's Currency Regime and Australia Before the AUD Float in 1983