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Author : Marc Chandler
About Marc Chandler PRO INVESTOR
Head of Global Currency Strategy at Brown Brothers Harriman.
Stories by the author
China’s Services VAT Could Exacerbate Rift with Local Governments
Yesterday, China announced one of the most important tax reforms of the past twenty years. It is replacing a business tax on gross revenue for non-manufacturing companies with a...
Emerging Markets are Data-Heavy, Yet Wait for the U.S. Jobs Report
EM ended the week on a firm note, which should carry over into this week. The biggest near-term risk to EM is the US jobs data on Friday, as...
Holding on to the Dollar’s Null Hypothesis
In quiet turnover, with China, Hong Kong, Singapore and London markets closed, the US dollar is trading with a heavier bias against all the major currencies. Lower commodity prices,...
Where to Turn Your Attention with the Fed on Hold?
The die is cast. The Federal Reserve is on an extended pause after the rate hike last December. The market remains convinced that the risk of a June hike...
Pre-Central Bank Meeting Futures Moves were Expected
Speculators in the futures market made mostly small position adjustments in the sessions leading up to the FOMC and BOJ meetings. During the Commitment of Traders reporting week ending...
The Dollar Has Seen Better Days
April was a cruel month for the US dollar. It fell against all the major currencies; even those whose central banks have negative yields. The greenback also fell against...
The Non-Consensus View
The White Queen in Alice in Wonderland (Through the Looking Glass) confesses that when she was younger, she could believe six impossible things before breakfast. She encourages Alice to...
No Love for the Dollar
Two main forces in the foreign exchange market are rippling through the capital markets. The first is the continued weaker dollar tone. The combination of what appears to be...
Global Financial Tension is Palpable
One can appreciate the frustration in Tokyo. The Bank of Japan surprised the world by adopting negative rates in January and the yen rallied. Today it disappointed many by...
Investors React to Meddling Central Banks
The Bank of Japan defied expectations and its economic assessment to leave policy unchanged. The inaction spurred a 3% rally in the yen and an even larger slump in...