My new book Surplus: The History of Too Much and the End of Economic Primacy is available for pre-order on Amazon. Out November 3, 2026 from Prometheus Books (@prometheusbks). Pre-order: a.co/d/01LoPCWw

There are two significant global imbalances--China's trade surplus and the US budget deficit. IMF, coupled with the NY Fed's suggested corrections, have #CNY around 25% undervalued. #CNY has risen by ~4% this year, despite historically wide interest rate differentials. (1/2)

The $eur has frayed the $1.14 level, where nearly 1.8 bln euros of options expire today and another 3.1 bln euros expire there on Monday and 2.4 bln euros on Tuesday. Are option expirations useful information? marctomarket.com/2026/09/sof…

Softer US Interest Rates Helps the Greenback Steady and Talk of US-Japan Coordination Snaps the Yen's Five-Day Slide: Oil and US rates are softer today and these developments have helped steady the US dollar after this week’s surge. Even with a firmer… dlvr.it/TVdtwS

Japan plays up coordination with the US, and with the help of lower US rates, lifts the $JPY for the first time in six sessions. Large $euro options struck at $1.14 today and next few days are in play. Fed expectations may be near peak. See marctomarket.com/2026/09/sof…

US rate and oil are a little softer today and this has helped take a little shine off the greenback. Japan plays up coordination with the US and the $JPY is snapping a five-day slide. Has pendulum of US rate expectations reached a peak? See marctomarket.com/2026/09/sof…

The PBOC seems to have signaled a period of consolidation for the #RMB. In a statement following its quarterly meeting yesterday, the PBOC said it would “prevent the ‘herd effect’ and self-reinforcement of irrational expectations" in fx market.

#USD remains firm, underpinned by the surge in US interest rates. Japan returns from long holiday weekend and is greeted by as weaker $JPY. Norway hiked. Sweden says it likely will before the end of the yr. SNB stands pat and lift CPI projections. marctomarket.com/2026/09/no-…

Part of my interview with @CapitalMarc @marcmakingsense discussing China's Xi Jinping visiting the USA this week and what it means for the dollar and Yuan

USD rules the roost. US seems best positioned to deal with shocks. The Atlanta Fed's GDP tracker sees 5.1% GDP in Q3--better than China--. Expansionary fiscal and Fed behind the curve--says the mkt. See marctomarket.com/2026/09/no-…

The incident, according to the report, took place several months ago. The real question is why is it being revealed now. The same is true of the story about China helping the Houthis. It is not that I doubt the veracity, but the timing of the revelations seem suspect.

Greenback is Bid: The US dollar is strongest against all the G10 currencies and most emerging market currencies today. The euro has approached $1.14, despite firmer than expected preliminary September PMI. Japan’s markets re-open tomorrow for the first… dlvr.it/TVcBzp

The US dollar is stronger against all the G10 currencies and most emerging market currencies today. The greenback's gains come despite softer oil and stronger EMU PMI. PBOC fixed USD higher for the 1st time in 11 sessions. See marctomarket.com/2026/09/gre…

"Greenback is Bid" Today's market commentary by Marc Chandler @CapitalMarc of Bannockburn Capital Markets. Link here: tradersummit.net/greenback-i… #Markets #Trading #MarcChandler #USD #TradersSummit

#USD is bid across the board and key chart areas have been approached. Stronger than expected flash PMI did nothing for the $eur, where options for 1.8 bln euros at $1.14 expire today. Disappointing Australia PMI weighs on A$. marctomarket.com/2026/09/gre…