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.
Albertans voted to remain part of Canada in yesterday’s referendum, with an overwhelming majority rejecting a move to begin a separation process. According to preliminary results from several of Canada’s major broadcasters published in the last hour, roughly 76% of voters opposed a question that would launch a binding referendum on leaving the country, with 24% voting in favour. The result comes after...
• Upbeat mood. Sentiment improved overnight. US tech stocks rebounded despite a lift in yields. AUD & NZD ticked up. AUD outperformed on crosses.• Macro pulse. Social unrest in France adding to jitters about its debt trajectory. NZ CPI tomorrow. Next week AU CPI & US Fed meeting in the spotlight.
Global Trends
Markets were in a more upbeat mood overnight with risk sentiment improving. A...
There was again little evidence of energy price spillovers in Canada last month, with underlying inflation pressures holding steady, slightly reducing market-implied odds on a rate hike from the Bank of Canada at its meeting next week. Data released by Statistics Canada this morning showed core inflation – which strips out food and energy prices – and is computed as the average of the two price measures...
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....