Search
Close this search box.

Explore the world.

Assess underlying market conditions and fundamentals in the world's major economies.

World
Global
Americas
United States
Canada
Mexico
Europe
Euro Area
United Kingdom
Asia Pacific
China
Japan
Australia

Stay ahead.

Follow the biggest stories in markets and economics in real time.

Analysis
Market Notes
Market Views
News Feed
Calendar

Subscribe

Get insight into the latest trends and developments in global currency markets with breaking news updates and research reports delivered right to your inbox.

After signing up, you will receive regular newsletters from Corpay, and may unsubscribe at any time. View Corpay’s Privacy Policy

08 May 2023

08 May 2023

AUD holding firm

• Calmer markets. US equities flat overnight, while oil & base metals edged a bit higher. US bond yields rose, with the AUD hovering just under ~$0.68• No credit crunch. Fed’s Senior Loan Officer Survey didn’t signal an imminent credit crunch. Rather, conditions are tightening inline with higher rates.• AUD events. Consumer sentiment, Q1 retail sales volumes, China trade data, & the Federal Budget released today. US CPI is out tomorrow night. A relatively quiet and uneventful start to the new week. Following the strong rise on Friday, US equities were flat overnight. By contrast, energy prices added to their...

Read More Read More
08 May 2023

Chartbook: May 8

Exhibit 1 Speculators are doubling down on long-euro bets. Net Long (+) or Short (-) US Dollar Futures Position Held by Large Speculators, Billions US Dollars, As at May 2, 2023 Exhibit 2 Economic surprise indices are diverging again. Citigroup Economic Surprise Indices, % Exhibit 3 Regional banks are still under pressure. KBW Bank Index Exhibit 4 Credit creation is slowing. Net Percentage of Domestic Banks Tightening Standards for Commercial and Industrial Loans to Small, and Large and Middle-Market Firms Exhibit 5 But loan volumes haven’t crashed. 3-Month Net Change in Loans, All Commercial Banks, Billions USD Exhibit 6 And...

Read More Read More
08 May 2023

Dollar weakens as markets brace for credit contraction

The dollar is weaker against all of its major counterparts – except the yen – this morning as investors await data that should confirm a sharp contraction in US credit growth after the failure of Silicon Valley Bank in early March. Two- and ten-year yields are holding steady, futures are pointing to a mixed open for North American equities, and commodity prices are creeping higher. The yen reversed a brief post-Golden Week rally in the overnight session after a record of the Bank of Japan’s latest meeting showed officials remaining committed to “large-scale easing”, with supply chain constraints easing, commodity prices coming...

Read More Read More

About

Contact

Data and information on this website is provided “as is” and for informational purposes only. Information on the website does not bind Corpay in any way; nor is it not intended as advice, a recommendation or an offer or solicitation for the purchase or sale of any financial products. Data and other information are not warranted as to completeness or accuracy and are subject to change without notice. All charts or graphs are from publicly available sources, or our proprietary data. Nothing in this material should be construed as investment, financial, tax, legal, accounting, regulatory or other advice or as creating a fiduciary relationship. Corpay disclaims any responsibility or liability to the fullest extent permitted by applicable law, for any loss or damage arising from any reliance on our use of the data in any way. You should contact your Corpay sales representative for clarification on the range of financial instruments available in your jurisdiction. Copyright Cambridge Mercantile Corp. 2022.