The major macro themes of interest are:

i. the beginning and pace of the tightening cycle in the US.

ii. the expansion of ECB's balance sheet and reflation of Euro area.

iii. the Bank of Japan's QE.

iv. Chinese Economic Status

v. QE programs Supply issues

v. Greek –EU tensions / Elections

vi. Oil Prices

vii. Russian - Ukraine Crisis

viii. Middle Eastern Tensions

ix. UK’s Brexit? Jeremy Corbyn!

x. Iran Agreement

xi. Emerging Markets Turmoil

xii. US Elections 2016

1. A JPY crash as Japanese policymakers lose control of their currency

2. A EUR collapse on Euro-zone break-up fears

3. A USD surge on new legislation to force repatriation of overseas earnings to the US

4. An emerging market FX crisis triggered by excessive USD strength