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

USD

30 Apr 2024

USD/JPY & AUD/JPY: A line in the sand?

The wild ride in the JPY over the past few trading sessions has got the markets attention, and raised the question of whether Japanese authorities have (finally) intervened after firing several verbal warning shots? USD/JPY traded in a 3.6% range on Monday, around 4 times its historical norm, as it quickly plunged from a fresh multi-decade peak just above 160 before settling down (now ~156.70). Officials from Japan have kept markets guessing by not confirming or denying whether any action took place. But as the saying goes “if it walks like a duck and quacks like a duck then it...

Read More Read More
29 Apr 2024

JPY shenanigans

• JPY vol. USD/JPY dropped sharply yesterday. Intervention hasn’t been officially confirmed. Risk of action to prop up the weak JPY remains elevated.• AUD rise. AUD continues to grind higher. AUD is now more than 3% from its Israel/Iran risk aversion lows. China PMIs & AU retail sales due today.• Global data. Tonight, Eurozone GDP/CPI & the US Employment Cost Index (a broad wages gauge monitored by the US Fed) are released. It has been a relatively quiet start to the new week for most markets, with positive risk vibes continuing and swings in the JPY getting the most attention....

Read More Read More
29 Apr 2024

Yen Rollercoaster Accelerates

The Japanese yen is stabilising after an extraordinarily-turbulent session. With markets closed for the Golden Week holiday, the exchange rate briefly crashed through the 160-per-dollar threshold for the first time since 1990, and then reversed almost five big figures higher when rumours of central bank intervention hit the wires early this morning – generating a total intra-day move that was the widest since December 2022, and among the top 20 dollar-yen trading ranges in modern history. Official confirmation hasn’t yet been provided, and evidence of the traditional “rate checking” activity from the Bank of Japan is lacking thus far, but...

Read More Read More
28 Apr 2024

US Fed & JPY trends in focus

• Upbeat tone. Equities rose while yields drifted back on Friday. The JPY’s slide continued. The shift in RBA pricing helped the AUD outperform last week.• Priced in? A ‘hawkish hold’ expected from the US Fed. Rates markets already look to be factoring that in. A lot of positives appear priced into the USD.• Event radar. Globally focus will be on the China PMIs (Tues), various US labour stats (including payrolls on Friday), & the US Fed meeting (Thurs). Risk sentiment ended last week on positive footing. European and US equities rose with the S&P500’s 1% lift on the back...

Read More Read More
26 Apr 2024

Inflation Progress Stalls, Putting Fed Cuts Further Out of Reach

The Federal Reserve’s preferred inflation measure remained stuck at elevated levels in March, but a feared overshoot was avoided, helping alleviate market tensions. Data released by the Bureau of Economic Analysis this morning showed the core personal consumption expenditures index rising 0.3 percent in March from the prior month, but January’s number was revised higher to 0.5 percent, bringing the three-month annualised pace up to 4.4 percent, well above the central bank’s target range. On a year over year basis, base effects saw core price growth stabilising at 2.8 percent, the same as in February, slightly higher than consensus estimates....

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.