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

CAD

11 Apr 2023

US CPI in focus

• Calm markets. Focus is on tonight’s US CPI. Headline inflation should mechanically slow, but core inflation could remain high. This can support the case for further tightening by the US Fed.• AUD mixed. AUD slightly higher against the USD, but remains under pressure against EUR and GBP as monetary policy outlooks diverge.• NZD underperformer. Despite last week’s larger RBNZ rate hike, NZD has fallen back. Markets are starting to factor in a RBNZ ‘policy mistake’. Markets were relatively calm overnight, with tonight’s US CPI in focus (10:30pm AEST). The US S&P500 ended the day flat, with the tech-focused NASDAQ...

Read More Read More
03 Apr 2023

The AUD’s energy price boost

• Oil spike. OPEC+ production cuts has seen oil prices lift. Oil sensitive currencies like the AUD, CAD, and NOK have outperformed.• USD lower. A weak US ISM manufacturing survey reinforced recession worries. US bond yields reversed course and this weighed on the USD.• AUD lift off. The terms of trade boost from higher energy prices has supported the AUD. RBA meets today. It is a close call, but we think the RBA will pause. A somewhat volatile start to the week for financial markets as investors digested the surprise weekend news that OPEC+ was cutting back oil production and...

Read More Read More
31 Mar 2023

US Inflation Moderates, Canadian Economy Grows More Than Expected

The Federal Reserve’s preferred inflation measure missed expectations in February, weakening the case for another hike at the central bank’s May meeting. Data released by the Bureau of Economic Analysis this morning showed the core personal consumption expenditures index – targeted by the Fed – rising 0.3 percent in February from the prior month, up 4.6 percent year-over-year – coming in slightly below consensus estimates. The overall personal consumption expenditures index was up 5 percent from a year ago. Personal income rose 0.3 percent month-over-month, decelerating from January’s Social Security-boosted 0.6-percent gain. Incomes were 6.2 percent higher relative to the same month...

Read More Read More
31 Mar 2023

Out Like a Lamb

The month of March is set to end on a quieter note as banking concerns ease, the dollar stabilizes, and volatility measures subside. Treasury yields are steady ahead of new consumer spending data and an update in the Federal Reserve’s preferred inflation indicator, equity futures are strengthening, and risk-sensitive currencies are edging higher – suggesting that investors could be positioning for a generalized bear market bounce in early April. Mexico’s peso remains relatively unmoved after the Banxico delivered a widely-expected rate hike and shifted its forward guidance in a firmly data-dependent direction. After telegraphing the intention to do so at last month’s...

Read More Read More
29 Mar 2023

Risk-Taking Rebounds as Rates Volatility Falls

As month-end flows begin to dominate price action in the financial markets, equity futures are preparing for a modest rally at the open, with bank shares and technology indices poised for the biggest gains. Treasury yields are little changed, the dollar is 0.3 percent higher, and other majors are turning in a mixed performance. Implied volatility levels remain relatively elevated as participants hedge themselves against another scare, but term structures are looking interesting: pricing suggests traders expect next week’s US data releases to trigger market movement, but ranges are then expected to tighten in the period preceding decisions from the Bank of...

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.