Search
Close this search box.

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

CNY

AUD pressure cooker

• Push/Pull. Oil prices tumbled, while US equities, bond yields & USD ticked higher. AUD on the backfoot & is at levels last traded in mid-August.• USD upswing. Higher US yields as well as the weaker EUR & JPY pullback are underpinning the USD. US data could generate more strength.• US politics. US election next week. Odds of Trump winning have risen. Volatility likely with his policy platform also viewed as being USD supportive. There has been a bit more volatility in markets at the start of the week. Oil prices have tumbled with brent crude shedding ~5% (now ~$72/brl)....

Read More Read More

US election: FX inflection point

The US Presidential Election is almost upon us with the vote held next week (5 November US time). While it has been tracked closely in the media for some time the same can’t be said for markets. Other macro and geopolitical developments such as the US/global interest rate cutting cycle, the situation in the Middle East, and macro goings on in China were front-of-mind for most of the past few months. But with the finish line nearing participants have finally been more seriously casting their eye over how the election could pan out and what it may mean for the...

Read More Read More

US data & election in focus

• Mixed moves. US equities consolidated while bond yields nudged up. USD firmer driven by USD/JPY. AUD & NZD lost some ground on Friday.• US elections. US heads to the polls in just over a week. Trump is ahead in the battleground states. Volatility likely over the period ahead.• Event radar. Locally, Q3 CPI is due (Weds). Offshore, US GDP & non-farm payrolls are released, as is EZ GDP/CPI & China PMIs. BoJ also meets. Markets were rather subdued on Friday with US equities consolidating (S&P500 flat, NASDAQ +0.6%) and bond yields unwinding the previous day’s dip (US 10yr +3bps...

Read More Read More

Holding steady

• Limited moves. US equities ticked up, while bond yields & the USD eased. AUD treading water just above its 1-year average.• AU CPI. Q3 inflation due next week. Gov. subsidies will see headline CPI fall. But improvement in core inflation should be more limited.• US politics. US election around the corner. Chances of a Trump win have risen. But the result may not be known for days/weeks after the event. Limited moves across markets overnight, although on balance there was a slight improvement in the underlying tone. On the back of a ~22% surge in the megacap Tesla’s share...

Read More Read More

Pressure building

• Negative vibes. Wobbles across risk markets with US equities slipping back overnight. Higher US yields supported the USD. AUD under pressure.• Macro trends. Bank of Canada cut rates by another 50bps. Global PMIs due today. US Fed easing expectations have been pared back.• US election. Presidential election fast approaching. Odds of a Trump win & Republican sweep on the rise. This is also boosting the USD. A few wobbles across markets overnight. Base metal and energy prices slipped back, and a selloff in tech stocks weighed on the US equity market with the NASDAQ (-1.6%) underperforming the broader S&P500...

Read More Read More