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

28 Jun 2023

AUD tumbles

• Central bankers. Fed Chair Powell, ECB President Lagarde & BoE Governor Bailey maintained a ‘hawkish’ message. The BoJ remains an outlier.• AUD slides. AUD has continued to fall (now 4.3% below its mid-June highs). A firmer USD compounded the slowdown in Australian headline inflation.• AU events. Retail sales & job vacancies due today. A soft retail sales print is likely to add to the AUD’s woes. RBA meets next week. Central bank speak was in focus overnight with Fed Chair Powell, ECB President Lagarde, BoE Governor Bailey, and BoJ Governor Ueda appearing on a panel. On net, a ‘hawkish’...

Read More Read More
28 Jun 2023

Signs of US resilience lift dollar

The dollar is strengthening and Treasury yields are pushing higher after yesterday’s raft of second-tier data releases pointed to continued outperformance in the US economy relative to its rivals.  Durable goods orders topped expectations in May, posting a 1.7 percent gain against a forecast -0.9 percent decline. New home sales jumped 12.2 percent, well above the predicted 1.2-percent gain. And consumer confidence surged, smashing market forecasts and suggesting that cooling inflation is intersecting with strong labour markets to bolster optimism about the economy’s direction. The Conference Board’s index jumped to 109.7, beating consensus estimates that were set closer to 102. An...

Read More Read More
28 Jun 2023

CPI adds to the AUD’s woes

The AUD continues to fall back down to earth with the larger than expected slowdown in Australia’s monthly CPI indicator the latest piece of news that has exerted pressure on the currency. At ~$0.6640 the AUD is ~3.7% below its mid-June highs. The pull-back has been inline with our thinking, given we believed that the AUD had run too far too fast earlier this month (see Market Musings: AUD: break-out or bull-trap?) Data wise, the monthly headline inflation measure slowed sharply, from 6.8%pa to 5.6%pa in May (market forecast 6.1%pa). This is the slowest annual run rate in headline inflation...

Read More Read More
27 Jun 2023

Higher for longer

• Diverging markets. US equities higher, supported by stronger data. Bond yields up with ‘hawkish’ rhetoric from ECB President Lagarde also at play.• FX markets. USD mixed. EUR firmer, while USD/JPY edged up. The world’s key central bankers speak tonight. Could this rattle risk markets?• AUD mixed. AUD unwound its CNY strength inspired gains. AUD/EUR lower. Australia’s monthly CPI indicator is released today. Mixed fortunes across markets overnight with stronger than expected US economic data and ‘hawkish’ messages from central bankers pulling asset classes in different directions. In terms of the data, US new home sales increased to their highest...

Read More Read More
26 Jun 2023

Growth worries

• Growth concerns. Weaker German IFO data is another sign the global economy is losing steam. Risk sentiment remains cautious.• Central bankers. The major global central bankers speak tomorrow night. An inflation fighting message could keep the USD firm, in our view.• AUD sluggish. Global backdrop is weighing on the AUD. We see a bit more downside. Locally, CPI indicator & retail sales are due over coming days. Choppy trade to start the new week, but on net risk sentiment remains cautious with growth concerns front of mind. The dramatic weekend events in Russia haven’t generated a meaningful market impact....

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.