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.
• 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...
• Shaky sentiment. Another rise in oil & long end bond yields dampened the mood. Equities a bit lower. NZD underperformed while AUD held up.• Macro trends. ECB expected to hike tonight. US producer prices due. RBA rhetoric has been ‘hawkish’. Late-September RBA hike now ~75% priced in.
Global Trends
A few jitters have returned to markets with higher oil prices, on the back of the...
Good morning. The dollar is holding firm as a new outbreak of hostilities in the Middle East sends oil prices to their highest since late July, raising the stakes ahead of Friday’s US inflation report—and next week’s Federal Reserve meeting. Brent crude, the global benchmark, is holding near $100 a barrel after the US and Iran each attacked oil tankers over the weekend, and Yemen’s...
• Market swings. US holiday overnight. US/Iran tensions supporting oil. JPY rebound weighing on USD & indirectly boosting currencies like the AUD.• Macro pulse. RBA’s Hunter & Hauser speak today. US CPI this week. Markets factoring in ~60% chance Fed hikes next week & RBA moves this month.
Global Trends
With the US enjoying a long weekend holiday most financial markets were relatively...
The US job creation engine accelerated dramatically last month, further bolstering the case for a rate hike at the Federal Reserve’s meeting later this month. According to the Bureau of Labor Statistics, 162,000 jobs were added in August—representing a massive overshoot relative to the 55,000-position consensus forecast—while the previous two months were revised down by a total -23,000 positions, bringing...