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.
Banco de México unexpectedly cut its overnight rate by a quarter point this afternoon, but called the move a “one-time adjustment”, helping alleviate selling pressure on the peso. In a split decision, policymakers trimmed the overnight rate to 6.25%, with Governor Victoria Rodríguez, Gabriel Cuadra and Omar Mejía carrying the vote, while Galia Borja and Jonathan Heath argued for holding at 6.50%. The...
The Bank of England raised borrowing costs and delivered a remarkably hawkish message this morning, keeping rate differentials well-supported and extending the pound’s advance against the euro and the dollar. Surprising market participants who had expected a number of dovish dissents, eight of nine members of the Monetary Policy Committee opted to raise the Bank Rate by a quarter-percentage-point to...
• Blue wave. Large swing for Democrats in US mid-terms. Set to control House & Senate. US equities rose. Bond yields, oil prices, & USD declined.• AUD rebounds. Weaker USD & positive risk sentiment boosted the AUD. Push-pull forces point to more volatility. Softer USD offset by slower AU economy.
Global Trends
The US mid-term election results were in the market driver’s seat overnight,...
Global energy prices are plunging after US vice president JD Vance blamed the Iran conflict for Republican losses in last night’s midterms, a development traders are reading as the first clear sign that Washington’s appetite for the war is fading.
In a lengthy post on Twitter/X, Vance suggested that the decision to attack Iran had cost Republicans the House and Senate. His intervention added to signs...
Donald Trump is set to spend the final two years of his presidency facing unified Congressional opposition. With results still coming in, major broadcasters are giving Democrats greater than 95% odds of flipping both the House and the Senate in today’s midterm elections.
Investors had anticipated a Republican defeat. Data ahead of the vote showed Donald Trump with the lowest approval rating of any...
• Push/pull forces. Rebound in tech stocks boosted US equities. US mid-term elections in focus today. Potential for bursts of USD volatility over period ahead.• RBA hike. RBA raised rates to 4.85%, high since 2008. AUD slips back. Worsening growth outlook & split RBA vote suggests hiking phase may be over.
Global Trends
There have been a few intermittent gyrations across markets over the past...