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

01 Aug 2024

Risk wobbles return

• Risk off. Weaker US data dampened sentiment. Equities & bond yields declined. USD ticked up, with cyclical assets like the AUD under pressure.• BoE cut. BoE delivered its first cut of the cycle. Further easing likely. US rate cut expectations have ramped up. More than 4 moves priced in by January.• US jobs. US jobs report released tonight. A softer print could drag US yields even lower. But would this generate a negative or positive market spillover? The positive tone in markets reversed overnight with concerns about the economic environment in the US dampening sentiment. US and European equities...

Read More Read More
01 Aug 2024

Fed Easing Hints Carry Markets Higher

Financial markets are kicking off a new month in an ebullient mood after the Federal Reserve left interest rates unchanged and Chair Jerome Powell suggested the central bank is prepared to cut them in September if inflation keeps moving lower. Treasury yields are lower across the curve, equity futures are consolidating for another day of gains, and commodity prices are broadly higher. On foreign exchange bourses, price action is more mixed, with a generalised improvement in risk appetite intersecting with still-elevated geopolitical tensions to alleviate selling pressure on the greenback: the Canadian dollar is holding steady while most other majors...

Read More Read More
31 Jul 2024

US rate cuts coming into view

• Positive vibes. Cooling US labour market conditions & US Fed hints that a rate cut in September is possible boosted risk sentiment & weighed on the USD.• AUD reversal. AUD recouped its post AU CPI losses. Core inflation still a long way from home. RBA hike risks extinguished but cuts still some time away.• BoJ moves. Larger than anticipated BoJ rate rise. Policy divergence is reviving the JPY. USD/JPY back below 150. AUD/JPY ~10% below July peak. A positive night for risk assets with signs of a cooling US labour market, moderating wage pressures, and signals from the US...

Read More Read More
31 Jul 2024

Currency Market Price Action Begins to Accelerate

The Bank of Japan raised benchmark lending rates and announced plans to cut its monthly bond purchases by half in last night’s meeting, moving closer to unwinding an unconventional monetary policy programme that began in the late nineties. Surprising—but not shocking—market participants, the central bank under Governor Kazuo Ueda lifted the target for the uncollateralised overnight call rate to 0.25 percent, up from the previous zero-to-0.10 percent range, and said it would gradually reduce government bond purchases to around ¥3 trillion a month by early 2026, down from the current ¥6 trillion. With internal Bank forecasts pointing to a self-reinforcing...

Read More Read More
30 Jul 2024

Jam-packed macro calendar

• Cross-currents. Sell-off in US tech stocks resumes. US bond yields lower, while in FX the USD consolidated. AUD range bound over the past 24hrs.• Q2 CPI. Australian inflation due today. Data will make or break the case for another RBA hike. Consensus forecasts are above the RBA’s assumptions.• Global events. Offshore the China PMIs, EZ CPI, & US ECI are due. The BoJ also meets, while tomorrow morning the US Fed delivers its decision. There were a few renewed wobbles in markets overnight ahead of a jam-packed 24hrs of economic releases and central bank decisions. The sell-off in US...

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.