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Consolidation Persists in the FX Market

August 26, 2026
The US dollar is enjoying a slightly firmer tone against most of the G10 currencies. However, for the most part, ranges tend to be narrow, and the consolidative one seen this week persists. Oil prices have extended their pullback amid reports that Iran and Oman are discussing an “interim framework” to re-open the Strait of Hormuz. The US is report…
Consolidation Persists in the FX Market Consolidation Persists in the FX Market Reviewed by Marc Chandler on August 26, 2026 Rating: 5
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Oh, Canada

August 25, 2026
The breakdown in U.S.-Canada trade talks weighed on the Canadian dollar and drove Canadian interest rates lower. That is hardly surprising. A trade war with an economy roughly 12 times larger is a more significant threat to Canada than to the United States. The asymmetry is economic, even if Ottawa believes it has some political leverage.In the mi…
Oh, Canada Oh, Canada Reviewed by Marc Chandler on August 25, 2026 Rating: 5
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Dollar Mostly Little Changed, Oil Extends Pullback, and China Rejects US Unilateral Sanctions on Iran Dollar Mostly Little Changed, Oil Extends Pullback, and China Rejects US Unilateral Sanctions on Iran Reviewed by Marc Chandler on August 25, 2026 Rating: 5
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US -Canada Trade War Escalates, while US Seek to Choke the Iranian Economy

August 24, 2026
The US dollar is trading higher against nearly all the currencies. Equity markets are mixed and bond yields are lower alongside oil prices. There are two major developments.  First, the US and Canada trade talks broke down, and the risk is further escalation. Last week, President Trump has granted Canada a three-day grace period from the 50% tarif…
US -Canada Trade War Escalates, while US Seek to Choke the Iranian Economy US -Canada Trade War Escalates, while US Seek to Choke the Iranian Economy Reviewed by Marc Chandler on August 24, 2026 Rating: 5
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Week Ahead: Warsh at Jackson Hole

August 22, 2026
Introduced by the Nobel-prize winning economist Paul Samuelson in the late 1930s, "revealed preferences" says to look at what people are actually doing to determine their true preferences rather than what they say. Applying this to the US now suggests the administration is worried about the US Treasury market. Last week's announcemen…
Week Ahead: Warsh at Jackson Hole Week Ahead: Warsh at Jackson Hole Reviewed by Marc Chandler on August 22, 2026 Rating: 5
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Bessent Doubles Down, Dollar Slumps but Rates Little Changed

August 21, 2026
The market is pushing against the US recent initiatives. Japanese investors themselves have continued to buy foreign assets in size in the first two weeks after the intervention. The Ministry of Finance data showed Japanese investors bought around $36.5 bln of foreign assets in the first two weeks of August.  Treasury Secretary Bessent expressed p…
Bessent Doubles Down, Dollar Slumps but Rates Little Changed Bessent Doubles Down, Dollar Slumps but Rates Little Changed Reviewed by Marc Chandler on August 21, 2026 Rating: 5
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To Support the US Treasury Market, Bessent Sent the Greenback Reeling

August 20, 2026
The US Treasury announcement early in North America yesterday that it would at least double the size of liquidity support buyback operations for longer-dated nominal coupon securities. The current maximum size is $16 bln a quarter. The stepped-up purchases will take effect on September 9. Treasury will provide more information about future buyback…
To Support the US Treasury Market, Bessent Sent the Greenback Reeling To Support the US Treasury Market, Bessent Sent the Greenback Reeling Reviewed by Marc Chandler on August 20, 2026 Rating: 5
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