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.
• Risk wobbles. Higher oil prices & rising bond yields dampen sentiment. USD firmer. AUD & NZD drift back. AUD ~1.5% from last weeks peak.• US rates. US Fed in focus with a hike expected tomorrow (4am AEST). But Fed may struggle to be more ‘hawkish’ than what is priced. USD volatility likely.
Global Trends
Cyclical assets remain on the backfoot with the combination of higher...
Good morning. The selloff in global bond markets is intensifying this morning, pushing yields to their highest levels in decades and weighing on risk appetite across the financial system. Ten-year Treasury yields are holding near the 5% mark, equity futures are pointing to losses at the open, and the dollar is advancing incrementally against all of its G10 counterparts.
After a brief reversal yesterday,...
Happy Monday. Long-term bond yields are climbing and the dollar is advancing as a rebound in global energy prices raises the stakes ahead of central bank decisions later this week. Brent crude is trading for nearly $108 a barrel after Houthi militants seized a Red Sea port, threatening oil shipments through the Bab el-Mandeb strait, and drones struck at least two pumping stations on Saudi Arabia’s...
Underlying consumer price growth accelerated in the United States last month, strengthening the case for a rate hike at the Federal Reserve’s September meeting, and adding to the dollar’s upward momentum. 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 August, accelerating from...
• Market wobbles. Higher oil prices & rising yields dampen sentiment. Equities dip, USD firmer. AUD & NZD lose ground. AUD underperforms on crosses.• Data pulse. ECB raised rates overnight. US CPI due tonight. Markets pricing in a ~70% chance US Fed hikes next week. US CPI could generate volatility.
Global Trends
It was a case of rinse and repeat across markets overnight with another jump...
Good morning. The US dollar is trading near a seven-month low ahead of key inflation data today and tomorrow that could determine the outcome of next week’s Federal Reserve meeting. Flows through the Strait of Hormuz have slowed to a trickle after a series of American and Iranian attacks on ships and energy infrastructure, forcing global oil prices back above $100 a barrel. Ten-year Treasury...