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

07 Mar 2023

RBA in the home straight

As was universally anticipated the RBA increased the cash rate by another 25bps at today’s policy meeting. This puts the cash rate at 3.6%, a high since May 2012, and makes it 10 straight meetings the RBA has lifted interest rates in its battle against inflation. After kicking things off in May 2022, the RBA has now increased the cash rate by a cumulative 350bps making this the fastest and most abrupt tightening cycle since at least the 1980s. The RBA doesn’t look to be finished just yet. It retains a hiking bias, noting it “expects that further tightening of...

Read More Read More
06 Mar 2023

RBA nearing the end?

• ECB repricing. Hawkish comments reinforced expectations the ECB could raise rates aggressively over future meetings. This supported the EUR.• Fed in focus. US Fed Chair Powell speaks tonight. We think the run of US data should see Chair Powell reiterate that the Fed has more work to do.• Another RBA hike. RBA expected to raise rates another 25bps today. But will it tinker with its forward-looking policy guidance? A quiet start to the week, though there were some divergences across asset markets with the underlying theme of central banks continuing to raise rates to fight inflation still front-of-mind. Following...

Read More Read More
06 Mar 2023

Currencies Stabilize As Pivotal Week Begins

Investors are bracing for a momentous week, with Jerome Powell’s Congressional testimony, three major central bank meetings, and the February non-farm payrolls report combining to set the stage for erratic price action in currency markets. The dollar is climbing, yields are ticking lower, and the euro and pound are tightly rangebound. Commodity-linked currencies sold off over the weekend as China’s leadership unveiled a more cautious growth agenda than had been expected. Work documents released during the National Party Congress outlined plans to increase state outlays and expand the budget deficit, but Beijing set its headline gross domestic product target at...

Read More Read More
05 Mar 2023

China disappointment

• China targets. China’s 2023 growth target was a little lower than expected. Fiscal support also looks set to be more restrained than anticipated.• Risk sentiment. Equities rose on Friday, but the China developments, and ‘hawkish’ rhetoric from Fed Chair Powell could weigh on risk appetite this week.• AUD pressure. RBA widely expected to hike another 25bps. But we think there is a risk its forward-looking rate guidance is adjusted. Market attention remains on bond markets. The uptrend in global yields paused for breath on Friday, with the US 10yr falling by ~10bps to end the week back below 4%....

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.