Global FX Outlook:

LUV! is all you need

David Bloom, Global Head of FX Research at HSBC, analyzes the impact of recent economic upheaval on global currencies.

The FX market has reacted to the shock of the COVID-19 pandemic by adopting a Risk On - Risk Off framework. However, the dominant framework may not persist for long -- FX performance is likely to vary greatly depending on the post-lockdown path for the global economy.

David Bloom, Global Head of FX Research, HSBC, and frequent guest on CNBC & Bloomberg, walks through four scenarios -- “L,” “U,” “V,” and “!” -- that range in swiftness of rebound, severity of lasting economic damage, and resulting volatility across currencies.

Watch this webinar to learn about the four scenarios:

  • “L”: the economy fails to recover meaningfully even as lockdown measures are eased
  • “U”: the economy begins to rebound but not as swiftly as expected
  • “V”: a healthy and reasonably swift rebound in activity as lockdown phases out 
  • “!”: the worst case scenario, likely due to multiple waves of COVID-19 outbreaks

Watch the replay


david bloom

David Bloom
Global Head of FX

David is the Global Head of Foreign Exchange Strategy for HSBC. Previously, David was the US economist for the Bank. He also has experience within equity markets and analysing the UK economy.



Bryan North-Clauss
VP, Financial Services

As Vice President, Financial Services, Bryan leads the customer-focused organization serving financial clients at AlphaSense. Bryan spent his prior career focusing on the credit markets at Natixis CIB Americas, Deutsche Bank and Morgan Stanley.



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