Explore the world.

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

World

Stay ahead.

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

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

Daily Market Briefing, Asia Pacific

Tariff volatility

• Tariff threat. President Trump rattled FX markets this morning after reiterating tariffs could be imposed on Canada & Mexico on Saturday. USD rose.• Macro pulse. Overnight the data showed that US growth outpaced the Eurozone. ECB cut rates again. More moves likely to revive activity.• AUD vol. The Trump comments exerted downward pressure on the AUD. More headline driven volatility likely over the period ahead. Global Trends The economic data flow picked up overnight with the relative outperformance of the US once again on show with tariff-related comments by US President Trump rattling a few FX market nerves this...

Read More Read More

Inflation & the AUD

• Central banks. Another rate cut by the BoC & Riksbank, although forward guidance was removed. US Fed kept rates steady & signaled patience.• Modest moves. Mixed performance across equities. Bond yields ticked up. USD tread water. ECB expected to cut rates tonight. US GDP also released.• AU CPI. Core inflation slowed bolstering expectations for a February RBA rate cut. A rates recalibration is looming, but is the low AUD already factoring this in? Global Trends There were few data releases overnight and no new news regarding President Trump’s policy agenda, particularly around tariffs. Rather, central banks were in the...

Read More Read More

RBA rate relief & the AUD

Favourable trends in Australian inflation mean interest rate relief for indebted households and businesses is on the horizon. Q4 2024 CPI printed below consensus forecasts (as it has tended to do over the past two years), and importantly it also undershot the RBA’s projections. Headline inflation rose just 0.2% in Q4 with the annual rate running at 2.4%pa. The trimmed mean (i.e. the RBA’s preferred underlying metric that provides a guide to inflation persistence) came in at 0.5%qoq. As a result, core inflation decelerated to 3.2%pa, with 6-month annualised growth, a gauge of the pulse rate trajectory, stepping down to...

Read More Read More

Tech tumbles

• Equity pressure. AI news out of China weighed on US tech stocks. The 7 US megacaps have driven the overall market strength the past few years.• Spill-overs. Risk off tone in equities washed through other markets. Bond yields fell as did oil. JPY outperformed while AUD & NZD slipped back a bit.• Event radar. Locally, Q4 CPI in focus this week (Weds). Offshore, the US Fed, Bank of Canada, & ECB meet. Tech stocks also report earnings. Global Trends Some nervousness returned to markets after what had been a relatively more positive period last week. US equities kicked off...

Read More Read More

Trump talk continues

• Trump talk. More comments from US President Trump overnight, but market reaction was relatively muted. Equities rose, while oil & the USD eased.• AUD & NZD. The USD pull-back is supporting AUD & NZD. Both are near the top of their respective 1-month ranges. AU CPI due next week.• BoJ hike? BoJ meets today. Another hike expected. We think the BoJ is ‘behind the curve’. Higher rates can help the JPY lift over the medium-term. Global Trends As has been the case the past few days comments by US President Trump in a virtual appearance at the World Economic...

Read More Read More