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

EUR

Geopolitical Concerns Ease Ahead of Action-Packed Week

Measures of market stress are moderating ahead of a week crammed with a combustible array of potential volatility catalysts including an escalation in Middle East hostilities, three major central bank meetings and a raft of first-tier economic data. Treasury yields are ticking higher, equity futures are pointing to a recovery from Friday’s losses, and the dollar’s gains are fading in the face of renewed advances from the euro, Canadian dollar, Mexican peso, and Australian dollar. An easing in geopolitical uncertainty is putting safe-haven currencies under pressure and oil prices are retreating after Israel and Iran avoided targeting critical energy infrastructure...

Read More Read More

The fog of war

• Middle East conflict. Developments dampened sentiment. Oil prices spiked & equities slipped back. USD firmer. AUD & NZD lost some ground.• Volatility. Geopolitical tensions can generate more bursts of volatility. This adds to the economic uncertainty stemming from various US policies.• Event Radar. AU jobs report (Thurs) is due. China data out today. In the US retail sales & Fed meeting in focus. BoJ & BoE also on the schedule. Global Trends Developments in the Middle East rattled markets on Friday, and with Israel and Iran continuing to trade blows over the weekend investor nervousness is likely to continue...

Read More Read More

Israeli Attack on Iran Leaves Markets Rattled

Financial markets are suffering another round of tumult this morning after Israel launched dozens of air strikes against Iran, targeting its air defences, nuclear programme, and military leadership. As we go to print, it is clear that at least twenty top officials in Iran – including the military chief of staff, commander of the Revolutionary Guards, secretary of the National Security Council, and a number of nuclear scientists – have been killed, and that the Israeli Air Force has established air superiority over much of the country, paving the way for more intensive operations against nuclear enrichment infrastructure. Equity futures...

Read More Read More

Volatility Surges as Israel Strikes Iran

The US dollar is surging against most of its major counterparts as Israel launches airstrikes on Iran, threatening to ignite a new war in the Middle East – still the origin of nearly a third of global oil production. With reports of explosions in Tehran crossing the wires, crude oil benchmarks are snapping higher as risk premia soar, Treasury yields are falling, and equity futures are bleeding. The “pre-emptive strike” – to use the words of Israeli defence minister Israel Katz – has been widely rumoured for a few days, but its magnitude and key objectives remain unknown. Unconfirmed reports...

Read More Read More

Crosscurrents

• Mixed signals. Positive US CPI offset by lack of US/China trade progress. S&P500 dipped, as did bond yields. AUD & NZD also eased back.• Tariff impacts. Some signs of tariffs in US inflation. But other factors working the opposite way. Will US inflation re-accelerate down the track?• Data flow. US producer prices & jobless claims tonight. Next week US Fed meets, China data is due, & the AU jobs report is released. Global Trends Contrasting US economic and trade tariff news generated a few intra-session market swings overnight. On the more positive front US CPI came in a little...

Read More Read More