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

Market Brief, North America

21 May 2024

Cautious Fed Messaging Puts Markets on the Defensive

The dollar is inching off a five week low after a slew of Federal Reserve officials repeated their “higher for longer” mantra in a series of appearances yesterday, forcing markets to push rate cut expectations a little farther out. The greenback weakened in recent weeks as a slew of softer-than-anticipated data releases pointed to slowing economic momentum, but gained slightly during yesterday’s session as Federal Open Market Committee members Bostic, Daly, Jefferson, and Mester all said they would need to see more evidence of cooling inflation before contemplating an easing in policy. Markets are back to pricing in a little...

Read More Read More
17 May 2024

Easing Wagers Pull Back Slightly as Wariness Returns

Not so fast. Currency markets are turning more cautious this morning as traders trim US rate-cut bets slightly from levels hit after Wednesday’s Goldilocks-esque inflation and retail sales reports. The greenback is inching up against its major counterparts, long-end Treasury yields are pushing higher, and North American equity futures are setting up for a slightly diminished open. But the dollar’s outperformance has faded in recent weeks. After a series of data releases showing labour markets slowing, consumer spending trending down, and inflation pressures subsiding, economists are revising growth projections lower. Federal Reserve chair Jerome Powell’s repeated reference to “restrictive” rate...

Read More Read More
16 May 2024

Soft Landing Hopes Drive Dollar Lower

Global stock markets are holding near record highs, Treasury yields are lower across the curve, and the dollar is in retreat as investors bring forward expectations for policy easing from the Federal Reserve. Data out yesterday morning showed core consumer prices advanced at the slowest annual rate in three years last month, while underlying retail sales shrank, suggesting that the world’s largest economy is losing momentum in the face of still-restrictive interest rates. The core consumer price index climbed 3.6 percent in April from a year ago, marking the weakest pace since April 2021, and “control group” retail sales slumped...

Read More Read More
15 May 2024

Bulls Stampede Into Inflation Data

Market optimism is rising ahead of a key US inflation report that is expected to show price pressures softening on a sequential basis in April. Our summary of updated estimates provided by the biggest global banks and investment firms suggests that the headline basket is seen rising 0.4 percent month over month, bringing the annual change down to 3.4 percent from 3.5 percent in March. The core measure is believed to have climbed 0.3 percent, falling to 3.6 percent from 3.8 percent in the prior month. Traders are positioning for an asymmetric market reaction. A strong print could be seen...

Read More Read More
14 May 2024

Markets Wait to Exhale

With market participants on hold ahead of several key US inflation prints, the dollar is essentially unchanged, Treasury yields are flat, and North American equity indices are moving sideways ahead of the open. Softness in this morning’s producer price data could touch off a relief rally, but the release shouldn’t be as market-moving as others in recent memory. Somewhat unusually, today’s measure of input costs is scheduled before the broader consumer price index is published, making it difficult to estimate the impact on the Federal Reserve’s preferred measure of inflation – the core personal consumption expenditures index – due for...

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.