Thursday , April 15 2021
Home / Marc Chandler
Marc Chandler

Marc Chandler

He has been covering the global capital markets in one fashion or another for more than 30 years, working at economic consulting firms and global investment banks. After 14 years as the global head of currency strategy for Brown Brothers Harriman, Chandler joined Bannockburn Global Forex, as a managing partner and chief markets strategist as of October 1, 2018.

Articles by Marc Chandler

FX Daily, April 12: Capital Markets Look for Direction

3 days ago

Swiss Franc
The Euro has fallen by 0.07% to 1.0997

EUR/CHF and USD/CHF, April 12(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Risk appetites have not returned from the weekend. Equities are heavy, and bond yields softer. The dollar is drifting lower in Europe. China’s unusually candid admission of the shortcomings of its vaccine and record new cases in India saw all the equity markets in the region fall. Only South Korea and Taiwan escaped the carnage that saw the Indian market tumble 3.5%. Recall that the MSCI Asia Pacific peaked on February 16. European shares have been faring better. The Dow Jones Stoxx 600 has a six-week rally in tow but is off almost 0.25% through the European morning today with all

Read More »

FX Daily, April 8: Calm Capital Markets See the Dollar Drift

7 days ago

Swiss Franc
The Euro has fallen by 0.26% to 1.1003

EUR/CHF and USD/CHF, April 8 (see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Global stocks are moving higher today. Fears of a new lockdown in Tokyo amid rising covid cases weighed on Japanese stocks, a notable exception as the MSCI Asia Pacific Index rose for its fifth session of the past six. Europe’s Dow Jones Stoxx 600 is edging to new record highs today and is advancing for its fifth session of the past seven. US futures are trading higher, led by the NASDAQ, which settled weaker yesterday. Bond markets are quiet. The US 10-year yield is hovering around 1.65%. Recall that it finished last week, after the jobs data in thin markets at 1.72%. European

Read More »

FX Daily, April 5: Market Pushes First Rate Hike into 2022

10 days ago

Swiss Franc
The Euro has fallen by 0.25% to 1.1053

EUR/CHF and USD/CHF, April 5(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Many financial centers in Asia and Europe remain closed for the extended holiday. Although several markets that were open were higher in the Asia Pacific region, India was an exception as a record contagion sent stocks down the most in five weeks.  US futures are pointing higher, led by the Dow, while the NASDAQ lags. The US 10-year yield is little changed after surging before the weekend on the back of the stronger than expected employment report. It is hovering around 1.71%. The dollar is narrowly mixed.  Sterling is the strongest, rising above last week’s high and knocking on

Read More »

April Monthly

13 days ago

Four major forces shaped the investment climate in the first quarter: the evolution of the virus and the rollout of the vaccine, the rising long-term interest rates driven by higher oil prices, America’s large fiscal stimulus, and optimism about the outlook, a sharp divergence between the US and other high-income countries, and a recovery in the US dollar after sliding in November and December 2020. These forces will  continue to dominate at the start of the second quarter.
Among the G7 countries, the UK and the US have been the most successful in vaccinating their populations, though as the EC has argued, its production facilities and trade policy allowed it to export to the UK around 2/3 of its vaccines.  It appears that while the EU has the vaccine-producing

Read More »

FX Daily, March 30: US Yields Push Higher, Lifting the Greenback Especially Against the Euro and Yen

16 days ago

Swiss Franc
The Euro has risen by 0.02% to 1.1047

EUR/CHF and USD/CHF, March 30(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The US 10-year yield is at new highs since January 2020, pressing above 1.77% and helping pull up global yields today. European benchmarks yields are up 4-5 bp, and the Antipodean yields jump 8-9 bp. The impact on equities has been minor, and the talk is still about the unwinding of Archegos Capital. Most large markets in the Asia Pacific region rose, with the notable exception of Australia. South Korea and New Zealand led the region. Europe’s Dow Jones Stoxx 600 is at a new high in over a year, while US futures are mixed. The dollar has rallied above JPY110 for the first time since

Read More »

FX Daily, March 29: Markets Look for Direction after Large Block Trade and Before Key Data

17 days ago

Swiss Franc
The Euro has fallen by 0.07% to 1.1064

EUR/CHF and USD/CHF, March 29(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The large block trade (~$20 bln) before the weekend, apparently from a family office, continued to have ripple effects today, but the MSCI Asia Pacific Index barely noticed. It extended its pre-weekend rally of 1.3%, and only South Korea and Australia fell among the major markets. Europe’s Dow Jones Stoxx 600 edged to new highs since last March but struggled to sustain the upside momentum. Financial and real estate sapped the strength that had been coming from consumer staples and information technology. US futures indices are nursing 0.3%-05% losses. The US 10-year yield is a

Read More »

FX Daily, March 18: Dovish Fed but Yields Rise, Helping the Greenback Recover from Yesterday’s Slide

28 days ago

Swiss Franc
The Euro has risen by 0.17% to 1.1068

EUR/CHF and USD/CHF, March 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Asia Pacific equities mostly advanced after the US benchmarks recovered following the dovish FOMC. Australia, New Zealand, and India did not participate in today’s gains. European bourses edged higher, but US shares are struggling, and the NASDAQ futures are off nearly 1%, threatening to end the three-day rally. Part of the weight is coming from a sharp sell-off in bonds. The US 10-year yield is up seven basis points to 1.72%, while benchmark yields in Europe are mostly 2-4 bp higher. The greenback is mostly firmer, though the Australian and Canadian dollars and sterling are proving

Read More »

FX Daily, March 16: Equities Firm, but Markets Tread Gingerly

March 16, 2021

Swiss Franc
The Euro has fallen by 0.33% to 1.1024

EUR/CHF and USD/CHF, March 16(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Yesterday’s new record highs in the S&P 500 and Dow Jones Industrial helped set the tone for today’s advance in the Asia Pacific region and Europe. The MSCI Asia Pacific Index snapped a two-day decline, with other major markets rising today. The Dow Jones Stoxx 600 had edged to new highs as it continues to approach the pre-pandemic high, which is a little less than 2% away. US shares are trading with a firmer bias. Arguably helped by the third consecutive decline in oil prices,  benchmark yields are little changed in the US (~1.60%) and Europe. Australia and New Zealand’s 10-year

Read More »

FX Daily, March 15: Big Week Begins Quietly

March 15, 2021

Swiss Franc
The Euro has fallen by 0.24% to 1.1077

EUR/CHF and USD/CHF, March 15(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The capital markets are beginning a new and busy week in a non-committal fashion. Equities are mixed. Except for Japan, Hong Kong, and Australia, most markets in the Asia Pacific region were lower, led Chinese and Indian shares. Europe’s Dow Jones Stoxx 600 ended a four-day advance ahead of the weekend but has come back bid today, led by consumer sectors and info technology.  Utilities are the only sector lower in the European morning. US futures are slightly higher. The US 10-year benchmark yield is little changed near 1.61%, while European yields are mostly 1-2 bp lower.

Read More »

FX Daily, March 11: Risk Extends Gains Ahead of the ECB

March 11, 2021

Swiss Franc
The Euro has fallen by 0.18% to 1.1065

EUR/CHF and USD/CHF, March 11(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Even though the NASDAQ closed lower yesterday and the reception of the 10-year Treasury auction did not excite, market participants are growing more confident. Led by China, the major markets in the Asia Pacific region rallied. The Shanghai Composite’s 2.35% gain not only snaps a five-session slide but is the largest rally since last October. Europe’s Dow Jones Stoxx 600 is stretching its advance into a fourth session and is up around 3.5% this week. US futures are pointing to a gap higher opening. Meanwhile, benchmark yields are softer, and the US 10-year note yield is below 1.50%

Read More »

FX Daily, March 10: Markets are not Yet Convinced that Yesterday’s Move Signaled a Trend Change

March 10, 2021

Swiss Franc
The Euro has risen by 0.39% to 1.1078

EUR/CHF and USD/CHF, March 10(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Fear that yesterday’s reversals represent little more than one-day wonders is contributing to the overall consolidative tone today. Most equity markets in the Asia Pacific region and Europe edged higher. China’s stocks tumbled yesterday, despite reports of official assistance, were mixed with the Shanghai Composite posting small gain and Shenzhen a small loss. South Korea and Australia’s benchmarks slipped lower. Europe’s Dow Jones Stoxx 600 is extending its gains for a third session, while US futures indices are narrowly mixed. The US 10-year yield is a few basis points higher at

Read More »

FX Daily, March 9: Turn Around Tuesday Strikes

March 9, 2021

Swiss Franc
The Euro has fallen by 0.22% to 1.1067

EUR/CHF and USD/CHF, March 9(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: It is not clear the trigger, but risk-taking appetites rebounded smartly today after the NASDAQ completed a more than 10% pullback from its highs yesterday. Ironically, the Dow Jones Industrials set new record highs yesterday too. Most equity markets in the Asia Pacific region rallied. The notable exceptions were South Korea and China. Buying state funds in China during the ongoing National People’s Congress failed to turn sentiment. The Shanghai Composite fell by 1.8%, and the Shenzhen Composite dropped 2.8%. European stocks are building on yesterday’s 2.1% rise, and the German DAX

Read More »

FX Daily, March 8: Greenback Trades Higher in Asia before Momentum Stalls in Europe

March 8, 2021

Swiss Franc
The Euro has fallen by 0.09% to 1.1083

EUR/CHF and USD/CHF, March 8(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The attack on Saudi Arabia’s largest crude terminal reverberated through the capital markets, where sentiment was already fragile, despite the lack of disruption. Brent rose to nearly $71.40, and April WTI to almost $68 extended their gains for the fourth consecutive session before being fully unwound. Most equity markets fell in the Asia Pacific region, lead by more than a 2% decline in China and nearly as much in Hong Kong. Australia and Singapore bucked the regional trend. Europe’s Dow Jones Stoxx 600 is rising for the first time in three days, led by financials and industrials.

Read More »

FX Daily, March 4: OPEC+ and Powell are Awaited

March 4, 2021

Swiss Franc
The Euro has risen by 0.26% to 1.1122

EUR/CHF and USD/CHF, March 4(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Equities are under pressure following yesterday’s sharp losses in the US. The MSCI Asia Pacific Index suffered its biggest decline of the week today as Japanese, Chinese, and Hong Kong benchmarks slid by more than 2%. The Dow Jones Stoxx 600 Index in Europe is buckling under the pressure and is posting its first decline of the week. US stocks remain soft, but the futures on the major indices are off their lows. The US 10-year yield is around 1.47%, while European yields are 1-2 bp lower. Australia and New Zealand benchmark yields jumped 10-11 bp. The RBA did not step up its bond

Read More »

FX Daily, March 2: The Dollar Finds Better Footing

March 2, 2021

Swiss Franc
The Euro has risen by 0.05% to 1.1027

EUR/CHF and USD/CHF, March 2(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: A warning from China’s top banking regulator about the frothiness of foreign markets appeared to blunt the knock-on effect of yesterday’s largest rise in the S&P 500 since last June (~2.4%) and weighed on global equities. The large markets in the Asia Pacific region but India and South Korea fell. Europe’s Dow Jones Stoxx 600 steady, recovering from initial losses. US index futures are off around 0.5%. Benchmark yields are firmer, with the US 10-year yield around 1.45%. The Reserve Bank of Australia took no fresh initiatives, and the 3-year yield targeted at 10 bp is closer to 15 bp.

Read More »

FX Daily, March 1: Animal Spirits Roar Like a Lion to Start the New Month

March 1, 2021

Swiss Franc
The Euro has risen by 0.45% to 1.1015

EUR/CHF and USD/CHF, March 1(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Equities and bonds jump back. Most Asia Pacific markets advanced 1.5-2.5% after the regional MSCI benchmark dropped 3.65% before the weekend and 5.3% last week. The recovery in European stocks was even more impressive. The Dow Jones Stoxx 600 was up around 1.55% near midday, recouping the pre-weekend loss in full and making a gallant effort to recoup last week’s 2.4% loss. US shares are trading higher, and the futures’ benchmarks are up 1.0%-1.4%. While the US 10-year yield is firm at 1.43%, yields have fallen elsewhere. Benchmark yields are 4-7 bp lower in Europe. The markets await

Read More »

FX Daily, February 26: Fed Hike Ideas Give the Beleaguered Greenback Support

February 26, 2021

Swiss Franc
The Euro has fallen by 0.31% to 1.0977

EUR/CHF and USD/CHF, February 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge
Overview: A poor seven-year note auction and ideas that the first Fed hike can come as early as the end of next year spurred a steep sell-off in bonds and equities. Technical factors like the triggering of stops losses, large selling in the futures market, which some also link to hedging of mortgage exposure (convexity hedging), also play a role. The abrupt shift in view helped gave the greenback support. Its recovery was especially pronounced against the high-flying dollar-bloc currencies and sterling. Even though US yields pulled back, the carnage spilled over into Asia Pacific trading, where most

Read More »

FX Daily, February 24: Equities Try to Stabilize and Low Short-Term Rates Help Keep the Dollar on the Defensive

February 24, 2021

Swiss Franc
The Euro has risen by 0.21% to 1.1018

EUR/CHF and USD/CHF, February 24(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The sharp recovery in US shares yesterday that saw the S&P 500 snap a five-day slide failed to carry into Asia Pacific trading earlier today. All the markets fell save India and Singapore. Losses were led by a 3% drop in Hong Kong as the first increase in the stamp duty (financial transaction tax) since 1993 was announced (0.13% from 0.10%). Most of the large markets in the region were off 1.5%-2.5%. Europe’s Dow Jones Stoxx 600 is posting minor gains in late morning turnover. Materials and energy are the strongest sectors. US shares are firmer, but little changed. Benchmark

Read More »

FX Daily, February 23: Dramatic Market Adjustment Continues

February 23, 2021

Swiss Franc
The Euro has risen by 0.38% to 1.0931

EUR/CHF and USD/CHF, February 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Rising rates continue to spur a rotation and retreat in stocks. Yesterday the NASDAQ sold-off by nearly 2.5% while the Dow Industrials eked out a minor gain. Equities are mostly higher in the Asia Pacific region while Japanese markets were on holiday. Hong Kong led the advancers, but China and South Korea extended losses. The early attempt to rally in Europe failed and the Dow Jones Stoxx 600 has fallen through the 20-day moving average for the first time in nearly three weeks. Energy and real estate are higher, while information technology and utilities are under the most

Read More »

FX Daily, February 22: Stocks Wilt under Pressure from Rising Yields

February 22, 2021

Swiss Franc
The Euro has risen by 0.15% to 1.0875

EUR/CHF and USD/CHF, February 22(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Higher interest rates, driven by inflation expectations, is forcing an adjustment to equity markets. The S&P 500 is poised to gap lower today following slides in the Asia Pacific region and Europe. Japanese and Taiwanese indices advanced by steep losses were seen in China, Hong Kong, and India. Europe’s Dow Jones Stoxx 600 is off about 0.7% in late morning turnover, among its steepest loss here in February. The US 10-year Treasury yield around 1.37%, while European yields are narrowly mixed. Despite the upgrade by S&P to AA+ from AA, New Zealand bonds, like Australian bonds, have

Read More »

FX Daily, February 19: Equities Stabilizing While the Greenback Remains Under Pressure

February 19, 2021

Swiss Franc
The Euro has risen by 0.25% to 1.0854

EUR/CHF and USD/CHF, February 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The bond and equity markets are trying to stabilize ahead of the weekend. The dollar remains under pressure. In the Asia Pacific region, Hong Kong, China, and South Korean markets advanced, but most markets could not overcome the profit-taking pressures. Europe’s Dow Jones Stoxx 600 is faring better as it tries to snap a three-day decline. It is nearly flat on the week. US shares are trading firmer after yesterday’s afternoon recovery that pared earlier declines. The S&P 500 begins today off 0.5% for the week. The US 10-year yield is firm at 1.30%, up almost 10 bp this week.

Read More »

FX Daily, February 18: Markets Chill

February 18, 2021

Swiss Franc
The Euro has risen by 0.14% to 1.0831

EUR/CHF and USD/CHF, February 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The bout of profit-taking in equities continued today, and most markets in Asia Pacific and Europe are lower. China’s markets re-opened but struggled to sustain early gains. However, the Shanghai Composite rose by about 0.5%, and a smaller increase was recorded in Taiwan and an even smaller gain in Australia. Europe’s Dow Jones Stoxx 600 is trading lower for the third consecutive session and closed the gap created by Monday’s sharply higher. US shares are trading lower. Benchmark 10-year yields are edging up in Europe, though Italian bonds are resilient. The US 10-year Treasury

Read More »

FX Daily, February 17: Follow-Through Dollar Buying after Yesterday’s Reversal Tests the Bears

February 17, 2021

Swiss Franc
The Euro has risen by 0.03% to 1.0802

EUR/CHF and USD/CHF, February 17(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview:  After reversing higher yesterday, the US dollar sees follow-through gains today, leaving the euro around a cent lower from yesterday’s highs. Sterling’s surge is also being tempered. Most emerging market currencies are lower as well. The jump in bond yields has stalled, but only after Australia and New Zealand yields surged eight basis points to play catch-up with the dramatic rise in the US yesterday that saw the 10-year benchmark trade near 1.31%. The yield has come back a little softer today at 1.29%. European bond markets are slightly softer. Profit-taking in US equities

Read More »

FX Daily, February 16: Greenback Remains Heavy

February 16, 2021

Swiss Franc
The Euro has risen by 0.04% to 1.0799

EUR/CHF and USD/CHF, February 16(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The equity rally appears undeterred by the rise in interest rates or the surge in oil prices. Led by Tokyo and Hong Kong, Asia Pacific equities advanced. China, Taiwan, and Vietnam markets remain closed. After gapping higher yesterday and extended the gains in early turnover today, the Dow Jones Stoxx 600 is consolidating. US shares are trading higher ahead of the re-opening after a long holiday weekend. The US 10-year benchmark yield is near 1.24%, almost nine basis points higher than a week ago. European bond yields are firmer. They appear to be taking their cues from

Read More »

FX Daily, February 15: Sterling Continues to Run Higher and US Winter Storm Gives Oil Another Boost

February 15, 2021

Swiss Franc
The Euro has fallen by 0.07% to 1.0792

EUR/CHF and USD/CHF, February 15(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: US and Greater Chinese markets are closed today, but the markets are moving. Equities are bid. The Nikkei led the Asia Pacific region with a 2% gain and pushed above 30000 for the first time since 1990. Korea’s Kospi advanced 1.5%, and Australia’s ASX tacked on 1%. The Dow Jones Stoxx 600 gapped higher in Europe, led by energy, communications, and financials. US futures are trading firmly, though the cash market will remain closed. The US 10-year yield remains at 1.20%, but the pre-weekend rise dragged global yields higher. Australia’s 10-year yield jumped 10 bp to 1.31%, while

Read More »

FX Daily, February 12: Animal Spirits Start the Weekend Early

February 12, 2021

Swiss Franc
The Euro has risen by 0.06% to 1.0801

EUR/CHF and USD/CHF, February 12(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Profit-taking weighs on equity markets, and the dollar is trading higher ahead of the weekend. Most Asia Pacific markets are still closed for the holiday, but Victoria’s snap lockdown dragged Australian shares lower. Japan and Indian markets were narrowly mixed, but the selling pressure is clearer in Europe, where the Dow Jones Stoxx 600 has had a heavier bias. US shares are also trading off, though coming into today, the S&P 500 was up about 0.75% for the week. US markets are closed on Monday. The dollar is snapping back after key levels held ($1.2150 in the euro and JPY104.40).

Read More »

FX Daily, February 11: Oil Set to Snap 8-day Advance while Consolidative Tone Emerges in FX

February 11, 2021

Swiss Franc
The Euro has risen by 0.16% to 1.080

EUR/CHF and USD/CHF, February 11(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The S&P 500 and NASDAQ were unable to sustain the gap higher opening to new record levels and reversed lower and fell to new three-lows. The settlements were just inside Tuesday ranges, though the Dow Industrials set a record close. Yet, there was spillover to equity trading in the Asia Pacific region and Europe today. Most of the large Asia Pacific markets, including Japan, China, South Korea, and Taiwan, were closed. Europe’s Dow Jones Stoxx 600 is up about 0.35% in late morning turnover, though momentum is absent. US shares are trading with a firmer bias. After seeing strong

Read More »

FX Daily, February 10: China’s Expansion Does not Prevent Deflation

February 10, 2021

Swiss Franc
The Euro has fallen by 0.13% to 1.0796

EUR/CHF and USD/CHF, February 10(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: Despite a soft close in US indices yesterday, global shares are on the march again today. Led by China and Hong Kong, most large markets in the Asia Pacific region advanced today. Officials gave approval for a new game from Tencent, which helped lift the Hang Seng. Europe’s Dow Jones Stoxx 600 slipped fractionally yesterday but has recouped and more today, led by utilities, information technology, and materials. US shares are trading with a firmer bias. Bond markets remain quiet. Ahead of today’s US auction of $41 bln 10-year notes, the benchmark yield is near 1.16%. European

Read More »

FX Daily, February 9: Players are Not Buying Everything Today

February 9, 2021

Swiss Franc
The Euro has fallen by 0.18% to 1.0807

EUR/CHF and USD/CHF, February 9(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The rally of US benchmarks to new record highs helped lift most Asia Pacific markets today, but the bulls are pausing in Europe, and there has been little follow-through buying of US shares. Australia, South Korea, and Indonesia did not participate in today’s regional advance led by a 2% rally in China’s main indices. Most European markets are lower, and the Dow Jones Stoxx 600 may post its first loss of the month. US shares are trading a bit lower. The US 10-year note began recovering yesterday as buyers emerged as the yield approached 1.20%. It is not below 1.15% and set to snap

Read More »

FX Daily, February 8: Limited Follow-Through Dollar Selling to Start the Week

February 8, 2021

Swiss Franc
The Euro has risen by 0.05% to 1.0832

EUR/CHF and USD/CHF, February 8(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com – Click to enlarge

FX Rates
Overview: The US dollar has drifted higher against the major currencies and most of the freely accessible emerging market currencies, paring the losses seen before the weekend in response to the disappointing employment report. Easing pressure from the pandemic as the surge in cases after the holidays may also be encouraging risk-taking to extend the global equity rally. Several markets in the Asia Pacific region, including Japan, China, India, and Thailand, rose by more than 1%. That was sufficient to lift the Nikkei and the Topix to their best levels since the early 1990s. Led by materials

Read More »