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

JPY

19 Nov 2024

From Russia, with love

• Geopolitics. A burst of volatility on the back of Russia/Ukraine news. But sentiment rebounded. US equities rose, as did the NZD & AUD.• Data flow. UK CPI & EZ wages due tonight. Several ECB & US Fed members also speaking. Geopolitics will also be on the radar.• AUD trends. AUD outperforming on the crosses. We think this can continue given the diverging policy trends between the RBA & others. Geopolitics generated a burst of volatility overnight. News Ukraine had carried out its first strike just over the Russian border using Western supplied missiles, and reports President Putin had signed...

Read More Read More
18 Nov 2024

Noise vs Signal

• Partial bounce. Various ‘Trump trades’ backpedaled overnight with US yields & the USD a little lower & equities higher. AUD & NZD benefited.• RBA trends. Latest research from the RBA shows monetary policy is just as potent here as elsewhere. But the RBA didn’t raise rates as high.• AUD impulses. Higher for longer RBA should be AUD supportive against EUR, NZD, CAD, & CNH. This can help counteract positive USD vibes. The post US-election ‘Trump trades’ paused for breath with many of the underlying assets backpedaling a little at the start of the new week. There was no major...

Read More Read More
18 Nov 2024

Dollar Stalls as Risk Appetite Ebbs

The dollar is trading below last week’s one-year high this morning, with softness in equity markets helping limit marginal flows into the US financial system. The S&P 500 has given back more than half of its post-election gains on a more hawkish outlook for monetary policy – and some scepticism on the earnings front – ten-year Treasury yields are holding at around 4.46 percent, and risk appetite is ebbing across a range of asset classes. Data last week showed the US economy maintaining strong underlying momentum. Retail sales increased slightly more than expected in October, suggesting that consumer demand is...

Read More Read More
17 Nov 2024

Signs of exhaustion?

• Choppy times. US equities weaker at the end of last week. Paring back of rate cut expectations a factor. USD consolidates with USD/JPY declining.• AUD trends. AUD hovering just above recent lows. Stronger for longer USD a medium-term AUD headwind. But AUD can edge up on the crosses.• Event radar. Global PMIs & CPI data from the UK, Japan, & Canada is due. ECB, US Fed, & RBA members are also due to speak this week. It was a choppy end to the week in markets on Friday with the US election outcome continuing to wash through and with...

Read More Read More
14 Nov 2024

USD powering ahead

• Policy trends. The pricing in of the Trump agenda & comments by Fed Chair Powell have seen US rate cut expectations pared back.• USD upswing. The adjustment in yield spreads in the US’ favour is supporting the USD. We think this trend may have further to go.• Data pulse. The monthly China activity data is due today. Tonight, focus will be on US retail sales given consumption is the economic engine room. The post US-election market gyrations were on show again overnight as participants continue to contemplate what a Trump policy mix of trade-tariffs, greater fiscal spending, and steps...

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.