Dollar blues
The US dollar is taking a plunge. But this also creates opportunities.
Investment compass – July 2025
The monthly publication includes a topical editorial, our positioning including the conclusions from the analyses, a market overview of the most important asset classes, an assessment of the current economic situation in various regions, and our current model portfolios.
The clearest trend in 2025 so far has been the dollar’s collapse.
Positioning
Weak US dollar creates opportunities
The US dollar is on a downward trend. We’re increasing our position in emerging market equities and currency-hedged gold.
Market overview
Markets tune out
The sense of optimism on the markets continued. Aside from a further depreciation of the US dollar, the flare-up in the trade dispute had little impact on the stock markets.
Economy
Growth on hold
Many economies are becoming cautious in an environment clouded by uncertainty.
Model portfolios
US dollar weakens
In light of the sustained weakness of the US dollar, we have expanded our positions in emerging market equities and increased our currency-hedged gold position.
“Investing with foresight” short video
In our video, our Head of Portfolio Management provides an update on the current situation on the financial markets and explains events in just a few minutes.
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