Marc Chandler
Marc Chandler
Marc Chandleris a well known foreign exchange market analyst, writer, speaker, and professor. On August 19, 2009, Bloomberg L.P. published Chandler's first book, Making Sense of the Dollar...
dollar economic fed great lead performance renewed survey taking trajectory understanding
The economic performance is taking on even great significance in the market's understanding of the trajectory of Fed policy. Any disappointment with the Philadelphia Fed Survey could lead to renewed dollar selling.
bringing closer confirmed delivered demand federal following growth keeping market meeting namely purposely rates reserve seeks statement surprise
The Federal Reserve purposely seeks not to surprise the market. And it delivered no surprise today, keeping rates steady. The statement following the meeting confirmed what the market has suspected, namely that demand is moderating bringing it closer to the economy's growth potential.
brazil caught market mistakes policy powerful
Brazil is caught in a combination of its own policy mistakes and powerful market forces.
ahead cycle fed gets looked market opportunity until
Through this tightening cycle the market has looked at every opportunity to say the Fed is done. The Fed is not done until the market gets ahead of the Fed and it is not there yet.
against best euro happen including japan
Coordinated intervention, including Japan intervening on the euro against the yen for the first time, would be the best thing that could happen for the euro.
fed funds increases looking march percent rate statement view
We should be looking at a Fed statement that increases the view of a March rate hike, and our view is that fed funds will be 5 percent by mid-year.
continues evidence foreigners tiring
There's no evidence that foreigners are tiring of U.S. assets. This continues to underpin the dollar.
continues deficit evidence financed foreigners tiring trade
There's no evidence that foreigners are tiring of US assets. The US trade deficit is more than being financed by foreign investment. This continues to underpin the dollar.
level technical
Once we got through an important technical level that triggered a lot of stops. We went through the level that the technicians thought was a bottom.
demeaning eye
Demeaning is in the eye of the beholder.
both companies currency cuts excuses hear helpless helps hurts listen situation stuff
Companies are not helpless in fluctuating currencies. But if you listen to these U.S. companies, you only hear about it when the currency situation hurts them, never when it helps them. I'll listen to these excuses when they acknowledge that this stuff cuts both ways.
early
If this is an escalation ladder, we're still on the very early rungs.
basically chop moving today
My sense is we're basically moving sideways. All we did today is chop around.
bank beginning japan low seems sell talk
On the fringes of the market, there is beginning to be some talk of the possibility that the Bank of Japan intervenes to sell U.S. dollars. While possible, the probability seems low at the present.