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

13 Oct 2023

Soaring yields support greenback, but move shows signs of exhaustion

Happy Friday. We see four key factors driving currency markets this morning: Safe haven assets are catching a bid as the conflict in the Middle East worsens, threatening to involve other regional powers. With Israel preparing for a ground offensive in Gaza and refugee flows into other counties set to increase, fears of wider disruption – which could lead to tighter sanctions on Iranian crude and ultimately slow flows through the Strait of Hormuz – are growing. Equity futures are pointing to a softer open, the euro and pound are sliding against the yen, Swiss franc, and dollar, and oil-linked...

Read More Read More
12 Oct 2023

Price action slows into US inflation print

Good morning. The dollar and long-term Treasury yields are holding steady, equity futures are pushing upward, and the Canadian dollar is inching forward. We see four primary factors driving currencies ahead of the North American open: Relative interest rate differentials are moving against the dollar after yesterday’s Federal Reserve minutes showed officials turning wary on raising rates too much. According to the record of the September policy meeting, “Participants generally judged that, with the stance of monetary policy in restrictive territory, risks to the achievement of the committee’s goals had become more two-sided,” with “all participants” agreed on the need...

Read More Read More
10 Oct 2023

Markets rebound on dovish Fedspeak

Risk appetite is improving after a flock of Federal Reserve officials executed what looked a lot like a communications pivot yesterday, shifting away from the higher-for-longer message that dominated rhetoric for months. Speaking at an economics conference, the Dallas Fed’s Lorie Logan suggested that a rise in the bond term premium – the yield difference demanded by investors for taking long-term risk – “could do some of the work of cooling the economy for us, leaving less need for additional monetary tightening”, and her colleague Vice Chair Jefferson said “We are in a sensitive period of risk management, where we...

Read More Read More
06 Oct 2023

Private Matters

Signs of slowing momentum are everywhere below the headline level in today’s Canadian jobs report – hours worked are falling, part-time roles are growing, and the construction sector is (unsurprisingly) taking a beating. Market expectations for a prolonged pause in the Bank of Canada’s tightening cycle should remain intact. But businesses are still driving the bulk of the hiring activity. The public and educational services sectors added roughly 145,800 jobs over the last year, against a gain of 406,200 in the private sector. A spike in private sector unemployment – similar to those that have historically played a bigger role...

Read More Read More
06 Oct 2023

Job creation accelerates, exacerbating market stress

The US labour market smashed forecasts in September – with job growth almost doubling market estimates – suggesting that the Federal Reserve’s monetary tightening efforts have farther to go in slowing the economy. According to data released by the Bureau of Labor Statistics this morning, 336,000 jobs were added, and the unemployment rate held at 3.8 percent, remaining near historic lows. Average hourly earnings rose 4.2 percent year-over-year, broadly in line with expectations. Ahead of the release, economists had forecast a 160,000-job gain (although markets likely expected more) and the unemployment rate was seen holding at 3.8 percent. The dollar...

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.