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Highlights

Long USDCHF

Adding long USDCHF today

Highlights

Happy Thanksgiving

Going full nerd in today’s am/FX … I’m sorry (or you’re welcome!)

Highlights

Mostly Canada

Tariffs are whatever you want them to be.

Highlights

Bessent Items

An orthodox reaction. Now what?

Highlights

Odds and Ends

EURUSD didn’t wait long. US PMI today is interesting.

Highlights

Twenty twenty-five

Investment bank outlooks may suffer from extrapolation bias. Tails are the base case.

Highlights

Secondary Factor

Stocks and VIX don’t usually matter much for USDJPY. But sometimes they do.

Friday Speedrun

All In

Everyone is all in on the post-Trump Free Money trades.

The Macro Trading Floor podcast

Catch up with Brent Donnelly and Macro Alf every week on The Macro Trading Floor. Listen as they discuss themes that are moving markets, highlight important trade ideas, and get to the bottom of what’s going on in macro.

“am/FX is a must read for everyone who wants to
understand global macro trading.”

John Mauldin, Chairman
Mauldin Economics

50 Trades in 50 Weeks

One year of good ideas, dumb mistakes, and timeless trading lessons over a wide range of topics like tactics, strategy, mindset, risk management, and of course the psychology of successful trading. Watch real trade ideas come to life in real time.

We do not teach trading strategies.

We teach you how to think, reason, and behave like someone who makes money.