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.
Good morning. The dollar is on course for a fifth consecutive daily gain as a hawkish repricing of the Federal Reserve’s expected policy path rolls on. Richmond Fed president Thomas Barkin yesterday joined many of his colleagues in suggesting that repeated supply shocks could endanger the central bank’s price-stability mandate, and warning that further tightening may be needed. Markets are now...
• Consolidation. Oil a little lower due to positive rhetoric. US equities tread water. USD a bit firmer. NZD a relative outperformer. AUD drifts a fraction lower.• Data pulse. Global PMIs out today. AU jobs report due Thursday. RBA Gov. Bullock acknowledges higher unemployment needed to ease inflation.
Global Trends
With news flow limited, financial market movements were modest overnight. Some...
Good morning. The dollar is edging lower as tensions in the Middle East show signs of easing and technology shares advance on a renewed wave of optimism. Brent is trading below $99 a barrel — down from $108 a week ago — after Saudi Arabia restarted its East-West pipeline and Reuters reported that Iran is willing to reopen the Strait of Hormuz within seven days if America lifts its blockade. Valuations...
Good morning. Stress is easing across the currency markets this morning as energy prices pull back, Treasury yields dip, and equity futures advance.
The euro is holding steady even after Germany’s biggest conservative party suffered some of its worst state election results since 1949. Preliminary results show the Christian Democratic Union led by chancellor Friedrich Merz winning just 4.9% of the...
Good morning. Risk sentiment is improving across the financial markets and the dollar is holding near a seven-week high after the Federal Reserve fired the starting gun on a new monetary tightening cycle and oil prices pulled back, easing tensions in bond markets.
In yesterday’s unanimous decision, the Fed’s rate-setting committee raised borrowing costs by a quarter of a percentage point,...
• Fed hike. A ‘hawkish’ US Fed rate rise. Forecasts point to more ‘tightening’ later this year. US equities dip. USD firmer. AUD & NZD remain on the backfoot.• Macro pulse. US retail sales stronger than expected. US Fed has more work to do. BoE tonight & BoJ tomorrow. RBA predicted to hike rates later this month.
Global Trends
Economic events in the US were in focus...