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

CAD

US Rate Cut Expectations Tumble Ahead of Jackson Hole

The trade-weighted dollar is holding near a two-week high after yesterday’s hotter-than-anticipated activity data triggered a dramatic reappraisal of the Federal Reserve’s expected easing trajectory, lowering expectations for a clear rate-cutting message from chair Jerome Powell at this morning’s economic symposium in Jackson Hole. Benchmark ten-year Treasury yields are holding steady around the 4.33-percent mark, equity futures are setting a course toward an advance at the open, and most major currencies are holding just below technically-important levels as traders await further clarity before pushing them lower. US private sector activity expanded at the fastest rate recorded so far this year...

Read More Read More

What will Chair Powell say?

• Cautious tone. Hawkish Fed soundbites & positive US data saw yields tick higher. US equities slipped back. AUD & NZD remain on the backfoot.• Fed speak. Chair Powell speaks at Jackson Hole tonight. Speech should generate some volatility & set the tone for next week’s trading as well.• Chair Powell. Market pricing more ‘dovish’ than the Fed’s view. Will Chair Powell lean against aggressive expectations or endorse them? Global Trends The cautious tone continued across markets overnight. Nervousness about tonight’s speech by US Fed Chair Powell at the annual Jackson Hole event (12am AEST) was compounded by ‘hawkish’ soundbites...

Read More Read More

Outlook Improves As Global Private Sector Activity Rebounds

A hint of cautious optimism is creeping into currency markets this morning after a raft of activity gauges suggested that the global private sector is proving surprisingly resilient in the face of the US trade onslaught. The dollar is trading sideways, yields are up slightly, and North American equity futures are pointing to continued selling pressure, but this appears largely contained in the technology sector, with broader measures looking relatively stable. The euro and British pound are both holding steady against the dollar after preliminary August purchasing manager indices popped higher, outperforming expectations for a modest improvement. In the euro...

Read More Read More

Currency Markets Steady As Traders Await Fed Communications

It’s quiet. Too quiet. Most major currency pairs remain trapped in tight price ranges this morning as volumes fall, but the dollar is firming slightly as traders hedge themselves against an unexpectedly-hawkish message from Jerome Powell at Friday’s meeting in Jackson Hole, and Treasury yields are pushing modestly higher. Although technology stocks are paring their losses after yesterday’s swoon, broader equity indices look set to print slightly lower at the open. The British pound is almost unchanged even after inflation climbed to an 18-month high, topping market forecasts and seemingly complicating the Bank of England’s easing plans. According to an...

Read More Read More

Markets hit an air pocket

• Market wobbles. A small bout of risk aversion overnight. US equities declined while the USD ticked up. AUD & NZD lost some ground.• RBNZ meeting. RBNZ expected to cut rates again today. Will it flag even more easing down the track? NZD & AUD/NZD volatility likely to lift today.• Fed speak. Markets focused on Fed Chair Powell’s upcoming Jackson Hole speech (Fri night AEST). Will Chair Powell be more ‘dovish’ than priced? Global Trends A few risk-off wobbles across markets overnight. There was no new major news driving the moves, rather a pullback in some markets with stretched valuations...

Read More Read More