Marc Chandler

IThe third quarter begins with clarified monetary policy outlooks for the US, EMU, and Japan. At the end of Q2, the Federal Reserve signaled it would likely raise rates in September and December. The...

It seems perverse and ironic that we frequently learn more from our failures than our successes. This is translated into the affairs of countries by noting that crisis produces reforms. This seems...

The first five months of the year have plenty of unwelcomed surprises for investors. Volatility throughout the capital markets rose, despite the continued net expansion of central bank balance sheets,...

(from my colleague Dr. Win Thin)EM FX was mostly firmer on Friday, but capped off a week of broad-based losses. US rates gave back some of post-FOMC rise, and that weighed on the dollar. Not much in...

(from my colleague Dr. Win Thin)EM FX ended the week on a firm note, helped by softer than expected US data. Indeed, EM FX was up across the board for the entire week and was led by BRL, MXN, and ZAR....

(from my colleague Dr. Win Thin)EM FX closed last week on a firm note, as the stronger than expected US jobs gain was mitigated by lower than expected average hourly earnings. Still, we believe that...

(from my colleague Dr. Win Thin) Chinese President Xi visited Hong Kong for the first time. The US has proposed $1.3 bln of arms sales to Taiwan. The Egyptian government raised fuel and cooking gas...

EM FX ended last week on a firm note, though most were still down for the week as a whole. Commodity prices stabilized, but the balance remains fragile, in our view. We remain cautious, especially...

(from my colleague Dr. Win Thin) Philippines central bank forecast a current account deficit this year, the first one in fifteen years. Kuwait refrained from matching the Fed’s 25 bp hike. The...

EM FX was mixed last week but in general held up well in the aftermath of Super Thursday. The global backdrop seems relatively benign right now despite the FOMC meeting this week. We still think...