Corpay Currency Research
Corpay Currency Research delivers daily market updates, macroeconomic analysis, and longer-term forecasts to help you make fast, confident, and informed decisions on foreign exchange risk — wherever your organisation is exposed.
Happy Friday. Markets are pausing for breath after a tumultuous week of inflation shocks coupled with a sharp deterioration in sentiment toward the artificial-intelligence buildout. Equity futures are edging higher after days of losses, Treasuries are steadying, and Brent crude is holding near $105 a barrel as the supply outlook fails to improve. On the week, the dollar is down roughly 0.5%, with virtually...
• Market swings. Rotation out of tech stocks supports the broader S&P500. US bond yields fall. USD softer. NZD edges up, but AUD weakens.• AU jobs. Employment fell sharply due to part-time jobs. Unemployment at 5yr highs. Odds of another RBA hike reduced. But high inflation still a problem.
Global Trends
A few push-pull forces have washed through markets over recent days and generated bursts...
If there has been one consistent message in our analysis over the past few years, it is that global portfolios have crowded—to an unhealthy degree—into a single bet: the US technology sector, and by extension the US dollar. Yesterday offered a small but telling illustration showing why that should trouble investors. Shares linked to artificial intelligence sold off. The yen and the Swiss franc rallied....
Shares are sliding and the dollar is tumbling against its main counterparts as an unwinding of crowded AI-related trades sends investors fleeing to safe havens. US equity markets are setting up for further losses at the open after technology shares suffered their worst sell-off in months yesterday, Treasury yields are falling, while the yen and Swiss franc outperforming the euro, pound, and Canadian...
Underlying consumer prices rose more quickly than expected in the United States last month, strengthening the case for more rate hikes from the Federal Reserve, and lifting the dollar. According to data published by the Bureau of Labor Statistics this morning, the core consumer price index—with highly-volatile food and energy prices excluded—rose 0.3% in September from the prior month, maintaining...
Good morning. The dollar is holding firm as oil prices climb and traders batten the hatches ahead of this morning’s US inflation update. Brent, the global benchmark, is trading above $105 a barrel after Iran struck two vessels in the Strait of Hormuz and Yemen’s Houthis targeted several facilities including Saudi Aramco’s headquarters, reinforcing fears of prolonged supply disruptions. Ten-year Treasury...