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.
• US yields. Swings in US yields over the past few days on the back of Treasury news has generated some FX vol. AUD near top of its multi-week range.• AU jobs. Cracks in the AU labour market are widening. Unemployment at 2021 levels. RBA may not need to hike rates again. AUD headwinds building.
Global Trends
A few more ructions across markets over the past couple of sessions. But rather than being...
• Shaky sentiment. US equities slip back as long end bond yields climb higher due to inflation & debt burden worries. AUD & NZD lose some ground.• Macro data. Australian wages due today & the jobs report is out tomorrow. Data flow could challenge the markets RBA rate hike thinking.
Global Trends
Market wobbles continued overnight with a modest bout of risk aversion dragging on things...
• Market wobbles. Geopolitical tensions underpin oil prices. Equities drift back. Run of weaker US data has weighed on USD. AUD near multi-week highs.• Data pulse. Global PMIs in focus later this week. Australian jobs report also due (Thurs). Data might challenge (or reinforce) markets RBA rate hike thinking.
Global Trends
Geopolitical and macroeconomic crosscurrents have generated more, albeit...
• Consolidation. Modest burst of vol. following a benign US CPI report. US equities ticked up. Oil dipped. AUD range bound. NZD underperformed.• US Fed. Softer US inflation & cracks in the jobs market ease the pressure for the US Fed to hike. US producer prices due tonight & retail sales out on Friday.
Global Trends
There was a modest burst of intra-session volatility overnight, induced...
Underlying consumer prices climbed at a restrained pace in the United States last month, modestly weakening the case for a rate hike at the Federal Reserve’s September meeting, and putting slight downward pressure on the dollar. 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% in...
For the second straight meeting the RBA kept the cash rate steady at 4.35% today. This follows the rapid fire recalibration in interest rates that was pushed through earlier in the year. No change was widely anticipated with traders assigning a less than 5% chance of a move today and no surveyed analyst forecasting it. The decision to stand still was a unanimous Board vote.
According to the RBA,...