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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.
Highlights The US dollar is mixed ahead of the monthly jobs data. It is generally consolidating yesterday’s losses against the European currencies and Japanese yen, while slipping against the dollar-bloc. The increased…
US Data Disappoints–Adds to Dollar Selling Pressure
US data have been disappointing. The weekly initial jobless claim increase has been followed by a weaker than expected ISM manufacturing report. The ISM fell to 56.2 from 59.7. The consensus had anticipated a smaller decline to…
Is Fiscal Austerity Being Rewarded?
From the IMF to the G20, from bloggers to Nobel prize winning economists, there have been calls for the major developed countries to reduce deficits and stabilize debt to GDP ratios. The idea is that if this is done properly it need…
Dollar Slips, but Range Bound
Highlights The US dollar is mostly lower. The euro is the strongest of the majors, gaining across the board. The week’s high was set on Monday just below $1.24 and unless this is taken out, it simply seems like range…
Central Bank Reserves: IMF COFER Data Shows Little Change
From BBH's Win Thin The IMF just released its quarterly report on currency shares of global reserves. In Q1 10, the dollar’s share fell slightly to 61.5% from 62.2% in Q4, while the euro’s share fell to 27.2% from 27.3% in Q4 and…
Irish GDP Turns Positive, Sort Of
Ireland, the first euro zone country to fall into a recession in 2008, reported today that Q1 GDP expanded by 2.7% from Q4 09. While the headline is impressive, even if Q4 09 was revised to show a 2.7% contraction rather than -2.3%…
Risk Returns on Successful ECB Tender
Highlights The US dollar is generally softer, consolidating yesterday’s moves. In fact, the three best performers yesterday and for the month of June, namely the Swiss franc, British pound and Japanese yen, are the laggards…
What to Expect from the COFER Data On The Currency Composition of Reserves
The IMF provides the most authoritative data on the currency composition of reserves. It is reported at the end of the quarter for the proceeding quarter. Tomorrow it is expected to report reserve holdings as of the end of Q1…
Dollar and Yen Rally, Euro Bears Brunt
Highlights The US dollar is broadly higher, alongside the Japanese yen, amid heightened anxiety over the possible stalling of the global economic recovery and the fragility of the banking system. The euro has borne the brunt of…
G20 Post-Mortem: No Fresh Trading Incentives
The G20 meeting did not provide much in the way of fresh trading incentives. However, there were a couple of developments that were noteworthy. The most important of these is the balance struck between growth and fiscal…