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.
• Positive vibes. Equities rose & the USD slipped back as markets tempered near-term US Fed rate hike bets & USD/JPY fell. AUD at top of recent range.• Data pulse. Post Q2 AU GDP markets factoring in another RBA hike by November. High chance it happens this month. US jobs report out tonight.
Global Trends
Risk sentiment has been positive over the past couple of sessions with oil prices...
Good morning. The dollar is back on the defensive after the yen posted its biggest two-day gain since last month’s historic US-Japanese intervention. Brent crude is trading just below $95, after this week’s escalation in military hostilities between the US and Iran. Sovereign-bond yields are steadying below their recent highs, and equity futures are holding firm ahead of the North American...
The Bank of Canada left its policy settings unchanged this morning, while also adopting a somewhat surprisingly-optimistic view on the Canadian economy amid an intensifying trade conflict with the United States.
Officials led by Governor Tiff Macklem maintained the policy rate at 2.25% for a seventh consecutive meeting after delivering nine cuts between June 2024 and September 2025.
In the official...
Good morning. The dollar is advancing against all its major counterparts as the conflict in the Middle East turns hot and the rout in global bond markets grinds on. The euro, pound, and yen are trading softer ahead of a raft of US data releases, including the monthly ADP employment print, durable goods orders, and Beige Book survey—none of which are typically market moving, but any of which might contribute...
• Market jitters. Renewed US/Iran tensions pushed up oil prices. Long end bond yields rose again & equities slipped back. AUD & NZD a bit weaker.• Macro pulse. RBNZ expected to raise rates today. Will its guidance point to more moves? Q2 AU GDP predicted to show sluggish growth.
Global Trends
Markets have been jittery over the past few sessions with a combination of economic and geopolitical...
Good morning. A rout in global bond markets is intensifying and the dollar is climbing as an outbreak in hostilities between the US and Iran revives inflation risks, raises the likelihood of interest rate hikes in the months ahead, and makes safe havens more appealing.
Energy prices are ratcheting higher after two supertankers were reportedly struck by anti-ship missiles while passing through the...