Marc Chandler - 2026 Macro Outlook: Currencies, Commodities & the AI Trade
In this KE Report Daily Editorial kicking off 2026, we’re joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and editor of the Mark to Market website. Marc walks through the major macro forces shaping the year ahead, from currency markets and interest rates to global politics, commodities, and the evolving AI trade.
Key discussion points include:
- US Dollar Outlook for 2026: Why the dollar may see a near-term bounce early in the year, but remains in a longer-term bear market driven by overvaluation, Fed policy, and shifting global growth dynamics.
- Interest Rates & the Yield Curve: The disconnect between the Fed’s influence on the short end of the curve and global forces shaping long-term Treasury yields, including developments in Japan and Europe.
- Politics as a Market Driver: From US midterm risks to European populism and potential snap elections in Japan, Marc explains why political power and economic outcomes are increasingly intertwined.
- Commodities & Critical Minerals Cycle: Gold, silver, and strategic metals remain central to the macro story as supply-chain security, export restrictions, and AI-driven demand fuel what could be a multi-year commodity cycle.
- AI, Valuations & Market Leadership: A balanced look at the AI trade - overcapacity risks, potential shakeouts, and where emerging areas like robotics and quantum computing may drive the next phase of leadership.
Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/
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Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
