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Marc Chandler 872 posts 0 comments
Marc Chandler joined Brown Brothers Harriman in October 2005 as the global head of currency strategy. Previously he was the chief currency strategist for HSBC Bank USA and Mellon Bank. In addition to frequently providing insight into the developments of the day to newspapers and news wires, Chandler's essays have been published in the Financial Times, Barron's, Euromoney, Corporate Finance, and Foreign Affairs. Marc appears often on business television and is a regular guest on CNBC and writes a blog called Marc to Market. Follow him on twitter.
The dollar is firmer against nearly all the majors amid risk aversion; European stocks at a 6-day low. Markets are likely to focus on the US data in today’s session; downside surprise supportive of USD. PBOC expects to see less upward…
Constructive view of Canadian dollar
The US dollar fell to 4-year lows against the Canadian dollar late last month near CAD0.94. In the tumultuous markets in the first half of August, the US dollar rallied about 6.5% into August 9th to briefly poke through CAD1.0 for the first…
Underwhelming Policy Response Continues
Markets stable but tone remains fragile. SNB expanded its sight deposit target; no EUR/CHF peg. BoE’s decision to stay on hold was unanimous. New measures announced by China boost CNY internationalization and integration with HK.
Bretton Woods, R.I.P.
Richard Nixon unilaterally closed the gold window 40 years ago today. No longer would the U.S. permit other countries to exchange their dollars for gold and by breaking that link, he ended the Bretton Woods international financial regime…
There are five key events for investors this week
The first is the size of the ECB bond purchases. Second, the Franco-German summit tomorrow attracts attention. Third, the market continues to pare long Swiss franc positions with the local press suggesting the SNB and government may take…
Three Thoughts for Friday
The past two weeks have seen large disruptions in the global capital markets and various policy responses. Market participants are having a difficult time getting a handle on these developments. There are three things investors should…
Saving too big to fail French banks would cost AAA rating
There are two spotlights in Europe today. France and Switzerland and their problems are intertwined. Despite denials by various French officials, the market suspects there is sufficient smoke to indicate a fire. Reuters reports that an…
After the FOMC, Norway and the UK
If the Fed does not do anything new, Bernanke and Co. risk disappointing the market and the fallout that may follow. QE3 at this juncture does not seem a likely and few observers disagree. After the FOMC meeting is out of the way, the…
Market Sentiment Remains Poor Ahead Of FOMC
Sentiment remains poor ahead of FOMC meeting; safe haven trades to remain in favor. Euro zone remains under pressure despite ECB purchases of Italian and Spanish bonds . China data supports soft landing thesis; Asian central banks…
Safe Haven Trades Dominate
Sentiment remains poor after S&P downgrade; equities; safe haven trades to remain in vogue. Euro zone to remain under pressure despite ECB purchases of Italian and Spanish bonds. G7, G20, EU, and ECB weekend meetings have done little…