INSIGHTS

The European Central Bank (ECB) eased its policy once again on Thursday by increasing the overall size of its Pandemic Emergency Purchase Program (PEPP) by €500 billion to a total of €1,850 billion.
 

The global pandemic and the economic shutdowns have been devastating to the travel sectors in 2020, but optimism surrounding vaccine developments has boosted confidence of a smooth economic reopening in 2021.

Copper, aluminium, and other industrial metals have enjoyed impressive run-ups in the second half of 2020, driven by the expectations for a full global economic recovery in 2021, the “green” investments, and supply disruptions in South America.
 
 

Forex traders are positioning their funds to more risky currencies following the latest vaccine optimism, the growing hopes for more stimulus plans, and the ongoing rally in the global stock markets and commodities.
 
 
 

According to sources, one of the first priority of the Biden administration will be to smoothen out trade relations with Europe. Relations with China will also improve, although we will not return to a pre-Trump era soon. Reducing trade tensions is positive for the global economy.
 
 
 

The global markets finished the first day of December in green, adding to their November’s sharp gains. The risk appetite increased from the positive news around the UK approval of Pfizer’s vaccine, the hopes for more U.S. economic-fiscal stimulus as well as from the expectations for a Covid-19 vaccine-led global economic rebound in 2021.

Crude oil has lost more than 10% in October, sending WTI and Brent oil prices to a four-month low on growing concerns that the second wave of the pandemic will prompt renewed global lockdowns which will damage the demand and consumption for auto and aviation fuels.
 
 

The precious metals started the new trading week with further losses as investors are losing their appetite for safe-haven assets amid the positive vaccine developments and the growing optimism for a quick vaccine-led global economic recovery in 2021.
 
 

The Turkish lira weakened to a record low of 8.32 against the US dollar and 9.77 against the Euro on Thursday morning, heading further into uncharted territories. The Lira lost more than 27% of its value in 2020 and almost 90% since the financial crisis of 2008 against major currencies and shows little sign of stabilising despite the efforts by its Central Bank to stop the fall.

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EXCAPRIME RAIF V.C.I.C. PLC was established in Cyprus on 21/05/2020 as a public company limited by shares incorporated under the Companies Law, Cap.113 with registration number HE 409449. The Fund was registered by its External Manager (“Fortified Capital Ltd”) in the Cyprus Securities and Exchange Commission RAIF Register (CySEC Registration Number: RAIF37) to operate as a Registered Alternative Investment Fund (“RAIF”) as an open-ended umbrella investment company of variable capital in accordance with PART VIII of the Alternative Investment Funds Law 124(I)/2018 and is indirectly regulated by the Cyprus Securities and Exchange Commission through its External Manager. The Fund has not received an authorisation licence from the Cyprus Securities and Exchange Commission.

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