Corpay Currency Research · Data, Analytics, Insights
The global economy.
At your fingertips.
Good morning. The dollar is advancing and Brent crude prices are back above $110 a barrel as the US and Iran fail to make meaningful progress toward a deal that might relieve strain on global energy markets. Over the weekend, Iranian Foreign Minister Abbas Araghchi reportedly proposed that Tehran and Washington end their blockades and maintain a regional ceasefire while postponing nuclear talks to...
• Upbeat vibes. Reports Iran proposed reopening Strait of Hormuz supported sentiment. Equities rose. AUD near top of its range. But oil markets sceptical.• Event radar. US/Iran still in focus. Australian Q1 CPI due (Weds), as is US GDP (Thurs night). Five central banks meet including US Fed (Thurs morning).
Global Trends
Mixed fortunes across markets at the start of the new week. On the back of...
Financial markets are back in risk-off mode as Middle East peace talks show signs of stalling, with both sides continuing to enforce blockades on shipping through the Strait of Hormuz. Brent crude is holding above $100 once again, equity futures are setting up for a pullback at the open, and the dollar is catching a bid as traders revert to safe-haven and terms-of-trade playbooks, selling the currencies...
Good morning. Markets are struggling to find direction as conflicting signals on the war in Iran leave traders rudderless. Vice President JD Vance yesterday postponed a trip to Pakistan after Iranian officials reportedly refused to meet with him, citing “unreasonable demands” from the US, while President Trump extended today’s ceasefire deadline to allow Tehran to present a “unified...
• Market wobbles. Fears of a re-escalation in Iran dampened sentiment overnight. President Trump extended the ceasefire this morning.• FX moves. USD firmer due to higher oil & strong US retail sales. NZD holds up because of NZ CPI. AUD lost some ground. More bursts of vol. expected.
Global Trends
A few more Middle East related gyrations across markets overnight. Risk sentiment was on the backfoot...
American households seemingly remained undaunted by the war in Iran last month, spending more than expected even as measures of consumer sentiment plunged to historic lows. According to figures published by the Census Bureau this morning, so-called “control group” retail sales—with gasoline, cars, food services, and building materials excluded—rose 0.7% in March, beating forecasts set at 0.2% and climbing...