The Global Economy Podcast with Fexingo: International Markets, Currencies, and World Trade

In episode 32 of The Global Economy Podcast, Lucas and Luna examine the surprising link between America's widening trade deficit and the dollar's stubborn strength. With the trade-weighted dollar index hovering near 119 and the trade deficit hitting minus $60 billion in March, they explore how a strong dollar actually worsens the trade imbalance—and why this feedback loop matters for emerging mark...

Lucas and Luna dive into the quiet but dramatic shift happening with US-listed Chinese ADRs. With the SEC proposing fresh tariffs on 60 economies over forced labor trade practices and China's yuan weakening, the episode focuses on a specific data point: the 1.3% gain in the FXI China ETF this week masks a deeper divergence. Lucas breaks down how the ADR market is now pricing in political risk that...

In this episode of The Global Economy Podcast, Lucas and Luna look at how the Iran conflict is pushing up energy costs and driving inflation in the euro zone to 3.2 percent as of June 2026. They discuss the widening divergence between the European Central Bank and the Federal Reserve, with the dollar remaining strong at a trade-weighted index near 119, and how this is impacting European equity ETF...

Taiwan's export-dependent economy is facing a paradox: corporate earnings remain strong, but the iShares MSCI Taiwan ETF (EWT) has fallen 2.7% in the past week while other Asian ETFs like South Korea's EWY are surging. Lucas and Luna examine the divergence, exploring how the strong dollar, geopolitical tensions over Iran, and shifting supply chains are punishing Taiwan despite its solid fundamenta...

Episode 28 of The Global Economy Podcast examines the Japanese yen's persistent weakness and its structural impact on Asian supply chains. Lucas and Luna discuss how a yen at multi-decade lows is driving Japanese manufacturers to shift production back home, reshaping trade flows across electronics and autos. They reference the latest trade-weighted dollar index at 118.9, the yuan at 6.77 per dolla...

The Japanese yen has weakened to 159 per US dollar, but unlike past episodes, the move isn't triggering a broad Asian currency war. Lucas and Luna examine why South Korea's won and Taiwan's dollar are strengthening alongside the yen, and how supply chain shifts linked to the Iran conflict are redrawing trade patterns. They drill into the yen's divergence from the dollar index, the surprising resil...

Lucas and Luna break down the widening gap between South Korea and China in June 2026. With the South Korea ETF (EWY) surging 8% in five days while the China ETF (FXI) falls 1%, they explore what's driving the divergence: South Korea's bet on high-end semiconductors and AI memory chips, versus China's struggling property sector and deflationary pressures. They discuss how global supply chains are...

In this episode of The Global Economy Podcast, Lucas and Luna examine how the Iran conflict is redrawing global energy trade routes. With energy inflation proving stickier than the Fed expected and the average U.S. household paying $450 more annually on gas, the hosts explore the shift of Asian refiners from Iranian crude to alternative suppliers, the impact on tanker rates and shipping insurance,...

In June 2026, the yen carry trade — a staple of global finance for years — is showing clear signs of strain. With the yen at 159 per dollar despite a flat dollar index, and the Bank of Japan signaling a potential policy shift, investors who borrowed cheap yen to buy higher-yielding emerging market assets are facing a reckoning. Lucas and Luna unpack the mechanics: how the trade worked, why it's br...

The U.S. dollar index has hovered near 119 for weeks, and while that seems like a static number, it's actually redrawing the map of global trade. Lucas and Luna unpack how a persistently strong dollar is separating winners from losers in emerging markets, with South Korea's ETF surging 13% in a week while China's ETF slips. They explore why the dollar's strength isn't helping all U.S. trading part...

In this episode, Lucas and Luna examine the surprising strength of Eurozone ETFs—specifically the Vanguard FTSE Europe ETF (VGK) and the iShares MSCI Eurozone ETF (EZU)—which have been outperforming emerging market funds in May 2026. They drill into the divergence, noting that while EEM has rallied 4.1% in the past five days, VGK and EZU have risen only modestly, yet the longer-term trend shows Eu...

Episode 21 of The Global Economy Podcast asks why developed European stocks, as tracked by the VGK ETF, have outperformed most emerging markets in May 2026. Lucas and Luna break down the data: VGK up 0.6% in a week, while top emerging funds like EEM and VWO are mixed and FXI and EWZ are down. They explore the structural forces behind Europe's relative strength: a stabilised euro at 1.16 per dollar...

In this episode of The Global Economy Podcast, Lucas and Luna explore a surprising divergence: while emerging market ETFs like EEM and VWO have posted gains, developed Europe ETFs such as EZU, FEZ, and EWP are outperforming with a mix of steady growth and lower volatility. They drill into the specific case of Spain's ETF (EWP), up 2.5% in five days, and compare it to India's INDA and Taiwan's EWT....

The US dollar has been hovering near 119 on the trade-weighted index for weeks, yet emerging market ETFs are seeing wild divergence: South Korea is up 12.8% in a week, China is down 0.9%, and Latin America is slipping despite a weaker dollar. Lucas and Luna discuss why the dollar's plateau is masking deeper shifts in global capital flows, the role of energy inflation from the Iran conflict, and wh...

The trade-weighted US dollar index has hovered around 119 for weeks, but not all markets are feeling the same pressure. In this episode of The Global Economy Podcast, Lucas and Luna unpack why South Korea's ETF surged 10.7% in a week while China's ETF fell 2.5% despite a slightly weaker yuan. They examine how export profiles, supply chain realignment, and monetary policy divergence are creating wi...

South Korea's ETF (EWY) surged 10.7% in the past week, far outpacing broader emerging markets and even Taiwan. Lucas and Luna unpack what's driving the rally: the won's surprising weakness, a semiconductor cycle that's diverging from China, and a valuation story that looks nothing like the 2021 Korea premium. They also touch on what the Fed's latest inflation data means for EM flows and why this t...

South Korea's ETF (EWY) surged 10.1% in the past week, massively outperforming emerging market peers. Lucas and Luna dig into why: Korea's semiconductor and battery exports are booming while China's FXI slides 2.5%. They explore the 'Korea discount' narrative, the role of the won versus the dollar, and what this divergence tells us about global capital flows in late May 2026. If you're trying to u...

In this episode of The Global Economy Podcast, Lucas and Luna examine a curious divergence: the dollar is weakening, yet Latin American ETFs like EWZ (Brazil) are down 1.6% in the past week. They drill into the specific case of Brazil—how high inflation, political uncertainty, and commodity price swings are offsetting the usual tailwind from a softer dollar. With the trade-weighted dollar index at...

Lucas and Luna drill into the surprising divergence within emerging markets this May 2026. While China ETFs like FXI are down 1.5% over five days, and the broad EEM is up just 6.4%, Latin American ETFs such as EWZ (Brazil, +1.7%) and the standout EWW (Mexico, +4.2%) are outperforming. But the real story is in the numbers: the trade-weighted dollar has eased to 119.3 from a peak near 120, giving co...

As of May 26, 2026, small-cap stocks are on an absolute tear. The Russell 2000 is up 6% over the past five days, more than double the S&P 500's gain. Lucas and Luna dig into why the RUT is finally breaking out while mega-cap tech treads water. They look at the interest-rate narrative, the narrowing trade deficit, and the surprising resilience of domestically focused companies in a strong-dollar wo...

Episode 12 of The Global Economy Podcast dives into the widening gap between two export powerhouses: South Korea and Taiwan, both riding the AI semiconductor boom, and China, which is stuck with a weakening yuan and deflation. Lucas and Luna use live market data from May 26, 2026: the Taiwan ETF (EWT) up 5.5% in a week, South Korea's (EWY) up 3.4%, while China's (FXI) fell 1.8%. They explore how t...

While the US-China rivalry and emerging market stress dominate headlines, European stock ETFs like VGK, EZU, and FEZ have posted steady gains in May 2026, shrugging off a strong dollar and geopolitical uncertainty. Lucas and Luna unpack what's driving the outperformance: a dovish ECB, resilient exports, and a surprising shift in global capital flows. They examine why the Euro Stoxx 50 is outpacing...

The U.S. dollar index hit 119.3 in mid-May, its highest level in decades, and emerging market bonds are feeling the pain. In this episode, Lucas and Luna break down why a strong dollar squeezes countries that borrowed in dollars, using specific examples like the iShares Emerging Markets bond ETF (EMB) and recent stress in Sri Lanka and Pakistan. They also look at the divergence between export-heav...

While most emerging market ETFs have struggled in May 2026, India's INDA ETF has quietly gained over 1% in the past week — even as China's FXI slumped and Brazil's EWZ fell. Lucas and Luna dig into why India is bucking the trend: domestic-driven growth, a services-heavy export mix, and a central bank that hasn't panicked. They contrast India with Taiwan's EWT (up 5.5%) and South Korea's EWY (up 3....

Taiwan's stock market is leaving every other emerging economy in the dust. The iShares MSCI Taiwan ETF, ticker E-W-T, surged 5.5 percent in the past five trading days alone — more than double the gain of South Korea's EWY and miles ahead of China's FXI, which actually fell 1.8 percent. Lucas and Luna dig into why Taiwan is diverging so sharply from the rest of the emerging world. They examine the...