Peter Kinsella

The capture of Nicolás Maduro in a US-led operation has seized global attention. Washington has signalled its intention to oversee a transitional phase towards a new governing framework, while hinting at potential involvement by US energy companies in rebuilding Venezuela’s oil infrastructure. Beyond the headlines, what could this mean for the energy, oil and other resources markets, Venezuela’s sovereign debt, and geopolitics more broadly? Our experts delve into the implications.

The currency expert at the Swiss private bank Union Bancaire Privée expects the dollar to weaken further, takes a dim view of negative interest rates, and is taking advantage of low market volatility.

In September, gold rose to new all-time highs, approaching USD 3,700 per oz. The upward move reflected several factors.

The prospect of continued Fed rate cuts will weigh on the US dollar

The prospect of lower oil prices and possible Fed easing is benign for most G10 currencies.

The US dollar has declined by more than 10% since President Trump took office, driven by policy uncertainty, lower growth expectations, and rising inflation concerns.

Since early November 2024, the gold price has risen from USD 2,600 to highs of above USD 3,500 per ounce. The precious metal received additional support in early February when investors realised that Donald Trump was serious about his tariff programme.

Observers and investors were expecting the US dollar to go up in value. This was without counting on the new US administration’s erratic policymaking and announcements on tariffs. Where is it going next and what other factors are affecting the greenback?