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

AUD

24 Jul 2023

Diverging growth trends

• European growth. EUR lower after Eurozone PMIs underwhelm. The shift in relative yield differentials supported the USD.• China Politburo. The leadership acknowledged the “difficulties”, & while it signaled it may inject fresh stimulus, no concrete measures were unveiled.• AUD events. Australia Q2 CPI due tomorrow, with the US Fed rate announcement & Chair Powell’s press conference on Thursday morning. Mixed performance across markets overnight, with divergence in the US and European business PMI data in focus. The impact of the rapid-fire policy tightening is bubbling to the surface. In Europe, falls in the PMI suggest growth momentum has slowed...

Read More Read More
23 Jul 2023

A busy week ahead

• Firmer USD. The USD has continued to claw back ground. The AUD has remained on the backfoot and is now ~2.4% below its mid-July high.• Busy week. Locally, Q2 CPI (Weds) & retail sales (Fri) are due. Offshore, the US Fed (Thurs), ECB (Thurs) & BoJ (Fri) meet.• More AUD pressure? On net, we think the upcoming events/data could give the USD some more support, with AUD headwinds still in place. Markets had a quiet end to last week. But things could heat up this week with a string of major data points and central bank meetings on the...

Read More Read More
20 Jul 2023

USD revival continues

• Stronger USD. US jobless claims declined, another sign the labour market is still tight. US bond yields rose, supporting the USD.• AUD round trip. The AUD’s Australian labour force & stronger CNH induced gains unwound overnight. AUD a bit firmer on the crosses.• Next week. Q2 AU CPI (26 July) could make or break the case for an August RBA hike. US Fed, ECB, & BoJ policy decisions also on the schedule. A more cautious tone across markets, with a round of disappointing tech-sector earnings results and ongoing signs of tight labour market conditions rattling nerves as it points...

Read More Read More
20 Jul 2023

Australian labour market: still on solid ground

Another month, another positive surprise in the Australian labour force lottery. ~32,600 jobs were added in June, led by further strength in full-time employment (+39,300). The positive run means the employment-to-population ratio remains at a record high (64.5%), with the unemployment rate holding steady at a downwardly revised 3.5%. Unemployment is just above its ~50-year lows. Other metrics like underemployment (now 6.4% compared to an average of 8.5% in the years before COVID) and hours worked show that the labour market is still chugging along. Conditions remain tight and hiring demand has (so far) moved in step with the jump...

Read More Read More
19 Jul 2023

UK CPI surprise

• UK CPI. UK yields plunged & GBP weakened after UK inflation came in lower than expected. This helped boost the USD.• AU jobs. Australian jobs report released today. The data has been more volatile than usual recently. A downside surprise would be a AUD negative.• AUD sluggish. Firmer USD has weighed on the AUD. Beyond the AU jobs data, the US Fed meeting is coming into focus. Another hike expected next week. Inflation outcomes continue to drive markets. Attention overnight was in Europe. For the first time in 5 months, UK CPI inflation undershot expectations. Headline UK inflation slowed...

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.