Category Archive: 4) FX Trends

He has been covering the global capital markets in one fashion or another for more than 30 years, working at economic consulting firms and global investment banks. After 14 years as the global head of currency strategy for Brown Brothers Harriman, Chandler joined Bannockburn Global Forex, as a managing partner and chief markets strategist as of October 1, 2018.

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Week Ahead: Thumbnail Sketch of Central Bank Meetings

2023-09-16

by Marc Chandler

2023-09-16

The week ahead is dominated by central bank meetings. Six of the G10 central banks meets. The post-Covid monetary tightening cycle is ending. The start was not synchronized, and neither will be end. It is tempting to think that those that began the tightening cycle early will among the first to finish. Among emerging markets that is true for Brazil and Chile, both of whom have begun cutting rates. And Brazil is likely to deliver the second cut in...

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Heightened Speculation of an ECB Hike Tomorrow Fails to Lend the Euro Support

2023-09-13

by Marc Chandler

2023-09-13

Overview: The US dollar is trading with a firmer bias against all the G10 currencies ahead today's August US CPI report. Even increased speculation that the ECB will hike rates tomorrow has failed to lift the euro, while a larger than expected contraction in the UK's July GDP pushed sterling briefly through last week's lows. The dollar rose to a marginal new high for the week against the Japanese yen, as the market seemed uninspired by the cabinet...

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Greenback Bought on Pullback

2023-09-12

by Marc Chandler

2023-09-12

Overview: The dollar was bought after yesterday's pullback spurred by Japanese and Chinese comments and the tighter capital controls from Beijing requiring permission to buy more than $50 mln. The economic and monetary policy divergence continues to underpin the greenback. It is firmer against all the G10 currencies and is mostly inside yesterday's ranges. Most emerging market currencies are lower, led by central European currencies. The Chinese...

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In Uncoordinated Steps, Japan and China Help Slow Greenback’s Rally

2023-09-11

by Marc Chandler

2023-09-11

Overview: The Bank of Japan Governor Ueda hinted the world's third-largest economy may exit negative interest rates before the end of the year. This sparked the strongest gain in the yen in a couple of months and lifted the 10-year yield to nearly 0.70%. In an uncoordinated fashion, Chinese officials stepped their rhetoric and indicated that corporate orders to sell $50 mln or more will need authorization. This helped arrest the yuan's slide. The...

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