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

31 Oct 2023

Dollar eases amid heavy macro data flow

The US dollar and yields are edging lower after the US Treasury surprised investors by lowering its estimates for government borrowing in the fourth quarter, helping ease fears of a supply-led melt-up in rates. According to yesterday’s release, net issuance is expected to hit a record $776 billion over the final three months of the year, but this is down from the $852 billion projected in late July as higher-than-anticipated tax receipts help offset funding requirements. Tomorrow morning’s issuance plan – which will outline the cadence and scale of auctions – could have a more meaningful effect on the rates...

Read More Read More
30 Oct 2023

It’s quiet. Too quiet.

It may be the most wonderful time of the fear, but foreign exchange markets remain remarkably calm. 1-month implied volatility – a measure of expected swings in exchange rates – in G7 currency pairs is holding almost a full standard deviation below post-2000 norms, and remains well below comparable indicators in other asset classes. We doubt this can be sustained as geopolitical risks simmer, outcomes diverge across the major economic blocs, and stress grows on the global financial system. We’d try to remind market participants of the ghosts of previous foreign exchange shocks – major moves tend to occur just...

Read More Read More
30 Oct 2023

Traders exit safe havens ahead of busy week

Markets are unwinding risk haven trades this morning, following a pattern established over the last several weekends, with Gaza-related geopolitical exposures forcing traders to square positions before each Friday close, only to reopen them each Monday. With Israeli forces advancing more cautiously than had been feared, oil prices are down, gold is coming under selling pressure, and equity futures are edging higher. The dollar is broadly softening against its major counterparts – including the Canadian dollar – but ten-year Treasury yields are again pushing past the 4.85-percent mark as investors brace for a tumultuous week in fixed income markets. The...

Read More Read More
26 Oct 2023

Price action slows into US growth data and European rate decision

The dollar is rising ahead of data that is likely to show the American economy expanding at a remarkably-aggressive pace in the third quarter, defying widespread expectations for a slowdown. Consensus estimates suggest this morning’s data will show output growing 4.7 percent in the third quarter, but the “whisper” number is considerably higher, nearing the 5 percent mark, and the Atlanta Federal Reserve’s “nowcasting” model is pointing to a 5.4-percent expansion. Anything in this range would serve to highlight the yawning performance gap between the US and its major counterparts, and would mark the latest in a long line of...

Read More Read More
25 Oct 2023

Bank of Canada holds, acknowledges signs of slowdown

As had been widely expected, the Bank of Canada held its benchmark overnight rate at 5 percent this morning, warning that “growing evidence that past interest rate increases are dampening economic activity and relieving price pressures” Officials noted signs of slowing momentum across the economy, saying “Consumption has been subdued, with softer demand for housing, durable goods and many services. Weaker demand and higher borrowing costs are weighing on business investment,” and pointed to a welcome “approaching balance” in overall supply and demand. According to updated forecasts contained in the Monetary Policy Report, the economy is expected to expand 1.2...

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.