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

SGD

14 Jun 2023

Fed’s ‘hawkish’ skip

• US Fed. Rates kept on hold, but the Fed’s message was ‘hawkish’. Fed is forecasting another ~50bps of hikes this year. Market pricing looks too low.• Intra-day volatility. Markets whipped around by the Fed decision. US retail sales & jobless claims tonight. Data could influence Fed expectations & the USD.• AUD events. Australian labour force & China activity data released today. ECB policy meeting is tonight with another 25bp rate hike expected. Markets whipped around overnight, with the US Fed policy decision and Chair Powell’s press conference in focus. As was broadly expected, after hiking interest rates aggressively over...

Read More Read More
13 Jun 2023

Will the US Fed ‘skip’ or surprise?

• Higher yields. Markets reprice BoE rate hike expectations after UK wage growth quickens. This supported GBP, and pushed AUD/GBP a bit lower.• US inflation. Headline CPI ‘mechanically’ falls, while core inflation is stickier. Tomorrows Fed meeting in focus. A ‘hawkish skip’ looks most likely.• AUD cross currents. AUD mixed overnight. The lift in USD/CNH remains a AUD headwind. A ‘hawkish’ Fed could see the AUD dip lower. There has been quite a bit of news to digest, with some developments, particularly in the UK, generating sharp market reactions. On net, US and European equities added to recent gains (S&P500...

Read More Read More
12 Jun 2023

An action packed week ahead

• Positive vibes. Equities higher. The risk backdrop & repricing in RBA expectations has pushed the AUD towards the top of its multi-month range.• Inflation focus. US CPI due tonight. Base-effects should drag down annual headline inflation. But will core inflation hold up and rattle market nerves?• Event risk. There are several events on Thursday with the US FOMC decision, AU jobs report, China data batch, ECB meeting, and US retail sales on the schedule. A mixed performance across markets overnight, though the underlying tone was generally positive at the start of an action-packed week. US and European equities rose,...

Read More Read More
08 Jun 2023

US jobless claims weigh on the USD

• US labour data. Weekly jobless claims rose more than expected. This has weighed on US bond yields and the USD. AUD is back above ~$0.67.• Fed expectations. We think the reaction to the data looks overdone. Jobless claims are volatile, and the backdrop remains a long way from where it needs to be.• Upcoming events. China CPI released today. Next week US CPI, the FOMC meeting, ECB & BoJ decisions, China data batch, & AU jobs report are due. Markets remain fickle with yesterday’s moves partially unwinding overnight. US equities rose (S&P500 +0.6%), while bond yields declined (US 2yr...

Read More Read More
07 Jun 2023

Canaries in the central bank coal mine

• BoC hike. The ‘surprise’ move by the BoC has rattled markets. Bond yields have risen as markets adjust interest rate expectations.• AUD softer. AUD has given back a little ground. The shift in offshore pricing counteracts the change in RBA thinking. Q1 GDP was also weak.• Central banks. The US Fed, ECB & BoJ meet next week. Inflation is a hard nut to crack. Further upward adjustment in rates could weigh on risk sentiment. Markets came back to life overnight. Expectations that central banks have more work to do to get on top of high services/core inflation are growing....

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.