Corpay Currency Research · Data, Analytics, Insights
The global economy.
At your fingertips.
There was lots of drama over the weekend. Sinners. One Battle After Another. A Shakespearean tragedy. The Secret Agent. Mr Nobody Against Putin. And that was just the Middle East — the Oscars were on too.
Markets are reversing direction and turning cautiously optimistic after several oil tankers navigated the Strait of Hormuz over the weekend, easing fears of a prolonged disruption to crude flows...
• Market nerves. Higher oil prices & Middle East developments dampened risk sentiment on Friday. USD firmer. NZD & AUD underperform.• Macro events. Central banks in the spotlight this week. High chance of a RBA rate hike. But its not guaranteed. AUD volatility around the RBA likely.
Global Trends
Risk sentiment remained negative at the end of last week with the situation in the Middle East...
The Federal Reserve’s preferred inflation measure landed in line with expectations in January, but left markets mostly unmoved, given that it predated the Iran conflict and was stale on arrival. Data released by the Bureau of Economic Analysis this morning showed the core personal consumption expenditures index rising 0.4 percent from the prior month, accelerating slightly to 3.1 percent on a...
• Oil jolt. Another jump in oil prices weighed on sentiment. Equities lower, USD firmer. NZD weaker. AUD underperforms after its strong run.• Twists & turns. Markets pricing a supply risk premium in oil. More volatility likely. RBA next week with chances of a rate hike now sitting at ~70%.
Global Trends
Middle East developments continue to be in the driver’s seat. Sentiment remained negative...
Inflation slowed in the United States last month—before the war in Iran sent oil prices spiralling higher and triggered a sharp reappraisal of the Federal Reserve’s expected policy path. 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 0.2 percent in February from the prior month, decelerating...
• Oil swings. Pull-back in oil prices has supported risk sentiment. Will it last? Situation in Middle East remains fluid. More volatility likely over period ahead.• RBA Hawks. AUD/USD at top of its range. RBA Dep. Gov ‘hawkish’ yesterday. Will it move next week? More than 2 hikes now priced in by September.
Global Trends
After a torrid end to last week and negative start on Monday sentiment...