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
Blog
Views
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

19 Feb 2025

19 Feb 2025

AUD/NZD: RBNZ downshift continues

The cavalier Reserve Bank of New Zealand continues to spread its ‘dovish’ wings. The RBNZ announced another 50bp interest rate cut today, the third straight meeting it delivered an outsized reduction. The move lowers the Official Cash Rate to 3.75%, after being as high as 5.5% last-July. As shown, outside of the GFC, the 175bps worth of rate cuts delivered by the RBNZ over the past 7 months has been the most abrupt policy U-turn in several decades (chart 1). The rapid-fire reduction in the level of the RBNZ OCR follows the very abrupt hiking cycle that was unleashed on...

Read More Read More
19 Feb 2025

RBNZ stands out from the crowd

• Holding. Despite some swings in other asset classes net moves in FX have been modest. JPY outperformed. AUD still hovering near the top of its range.• RBNZ cuts. Another 50bp rate cut by the RBNZ yesterday. More easing is projected. This contrasts the RBA. We expect AUD to outperform the NZD.• AU jobs. Labour force data due today. Another solid set of figures anticipated. If realised, this will support the RBA’s ‘hawkish’ guidance about more rate cuts. Global Trends Mixed fortunes across asset markets overnight as geopolitical and economic news pushed and pulled on sentiment, especially in Europe. In...

Read More Read More
19 Feb 2025

Price Action Eases As Data Deluge Slows

Price action in financial markets looks remarkably muted this morning as shell-shocked investors stay sidelined against a quiet data backdrop. The dollar is inching higher amid thin trading volumes, most major pairs are within 0.2 percentage points of yesterday’s close, the benchmark ten-year Treasury yield is less than a basis point higher, and North American equity markets are setting up for a modestly-positive open. Currency traders yawned when Donald Trump issued a new round of tariff threats last night, this time promising to hit automotive imports, pharmaceuticals, and semiconductors with taxes “in the neighbourhood” of 25 percent. “It’ll go very...

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.