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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 ECB announced its subscription capital base of 5.8 bln euros would effectively be doubled to 10.8 bln euros effective at the end of the year. The move is not surprising and has been hinted for the better part of a week at least. It…
EU Summit Kicks Off, Euro Up
The US dollar is mixed, stuck in narrow trading ranges amid the light volume of the holiday season. After falling below yesterday’s figure, the euro strengthened to $1.3266 but gains may be limited with the start of the EU summit today.…
Euro Drops As Moody’s Puts Spain On Review For Downgrade
The dollar made ground against most major currencies through the Asian session. Moody’s put Spain’s Aa1 debt rating on review for a potential downgrade, citing concerns with government funding and finances and the overall debt level. The…
Outlook for Swiss National Bank
by Marc Chandler The Swiss National Bank meets Thursday. A change in its monetary stance is not likely for several months at least. However, the SNB will provide new GDP and inflation forecasts that investors may find helpful. The Swiss…
Dollar Down for a Second Day Ahead of FOMC Meeting
Highlights The US dollar is mostly lower for the second day in a row ahead of the Fed’s meeting this afternoon. The euro maintained a supportive tone after the German ZEW release, which showed improving consumer confidence, but buying…
ECB: Where is the Shock and Awe?
by Marc Chandler The Financial Times reports that as Trichet was holding a press conference after the recent ECB meeting, European central banks were buying large amounts of sovereign European bonds. Reports suggested that the amounts were…
FOMC Preview and Dollar Outlook
by Marc Chandler A new factor has arisen that complicates the Federal Reserve’s task as it prepares for its last meeting of the year. The broad outlines of the agreement between President Obama and the Republican leadership on fiscal…
Week Begins With Global Equities Solidly Higher, Dollar Softer
The US dollar is mostly lower with little movement among the majors. The euro remains fairly subdued but recovered early session losses to break above Friday’s close. This week in Europe will be dominated by upcoming political events in…
Spanish Bonds Continue to Retreat Ahead of Supply
by Marc Chandler Spanish bonds have fallen each day this week. The 13 bp increase today brings the 10-year yield increase to 30 bp this week, easily the worst performing bond market within the euro zone. Portugal has the dubious honor of…
Markets Await China’s Next Move
Highlights The US dollar is mostly lower as the market anticipates the data deluge from China this weekend (along with the preliminary 50bp hike in reserve requirement) and trading volumes narrow. The euro drifted moderately higher, as…