Trade Corner

Macro FX Trades - March 2026

There are moments in markets when writing about trades feels almost mechanical. This is not one of them.

The macro environment has shifted rapidly in recent weeks. Tariffs have returned to the centre of the stage, inflation is once again whispering uncomfortable questions into the ears of central bankers, and now a new war has erupted even as the previous ones have yet to find an end. Oil has responded, markets have stiffened, and policymakers from Washington to Frankfurt are once again forced to ask themselves the same uneasy question: are we facing a temporary shock, or the beginning of something more persistent?

For those of us who spend our lives navigating currencies and macro cycles, this is the kind of environment that demands both conviction and humility. It is also the kind of environment that forces constant reassessment. Several ideas that initially appeared promising had to be revisited as events unfolded, while others emerged stronger as the macro landscape clarified.

Macro D has been navigating this terrain with notable success. His macro FX vision and positioning over recent months have translated into a series of profitable calls, but markets never reward complacency. In the midst of war, shifting monetary policy expectations, and increasingly volatile capital flows, he has sharpened his framework once again, focusing only on the trades that continue to make sense in this rapidly evolving landscape.

Behind the paywall, you will find five macro FX trades currently in focus, together with the macro reasoning that supports them. As always, they will be monitored and adjusted as the month unfolds, because in a world like this, flexibility is not a luxury — it is survival.

Let’s get to it.