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.
Financial journalists were not short of material this week. US inflation came in hotter than expected, Fed officials turned far more hawkish, and the Trump administration signalled it would double down on its policy playbook. Risk appetite took a hit when Jensen Huang, Nvidia’s chief executive, overclocked his personal life and left the world’s biggest artificial intelligence company temporarily rudderless....
US wholesale prices rose by less than anticipated but remained elevated in October, keeping a rate hike on the table for the Federal Reserve’s December meeting. The producer price index for final demand—which measures changes in the prices of goods and services produced in the US—climbed 0.3% last month after a revised 1.3% rise in September, the Bureau of Labor Statistics said this morning, reflecting...
Underlying consumer prices climbed by more 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 October from the prior month, maintaining...
Good morning, and happy Saturday.
Investors are shell-shocked after an astonishingly turbulent week. Initial reaction to Tuesday’s overwhelming Democratic victory was positive, with oil prices plunging and equities rallying on hopes the war in the Middle East would be brought to a swift conclusion. On Thursday, the narrative pivoted amid fears that the artificial intelligence buildout would face...
Banco de México unexpectedly cut its overnight rate by a quarter point this afternoon, but called the move a “one-time adjustment”, helping alleviate selling pressure on the peso. In a split decision, policymakers trimmed the overnight rate to 6.25%, with Governor Victoria Rodríguez, Gabriel Cuadra and Omar Mejía carrying the vote, while Galia Borja and Jonathan Heath argued for holding at 6.50%. The...
The Bank of England raised borrowing costs and delivered a remarkably hawkish message this morning, keeping rate differentials well-supported and extending the pound’s advance against the euro and the dollar. Surprising market participants who had expected a number of dovish dissents, eight of nine members of the Monetary Policy Committee opted to raise the Bank Rate by a quarter-percentage-point to...