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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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Three-Day Reprieve for Canada from US Tariffs

August 19, 2026
The US dollar remains on the defensive. It is lower against the G10 currencies but the Australian dollar, which is nursing a small loss. By a narrow margin, the Japanese yen is leading pack, though the greenback has held above JPY159 in Europe. The Canadian dollar is firm and testing yesterday’s high after a last-minute postponement of the US tari…
Three-Day Reprieve for Canada from US Tariffs Three-Day Reprieve for Canada from US Tariffs Reviewed by Marc Chandler on August 19, 2026 Rating: 5
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The Dollar is Mostly Firmer but in Narrow Ranges

August 18, 2026
The US dollar is mostly firmer against the major currencies.  The Australian and Canadian dollars are the exception, but their gains are minor.  Still, the Canadian dollar’s resilience in the face of the US tariffs it faces first thing tomorrow is notable.  While some progress has been reported, it seems too close to call.  October WTI is at a new…
The Dollar is Mostly Firmer but in Narrow Ranges The Dollar is Mostly Firmer but in Narrow Ranges Reviewed by Marc Chandler on August 18, 2026 Rating: 5
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Dollar's Losses Extended, but Stabilizing Ahead of the North American Session Dollar's Losses Extended, but Stabilizing Ahead of the North American Session Reviewed by Marc Chandler on August 17, 2026 Rating: 5
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