Global
Global
Real Gross Domestic Product
Real gross domestic product, annual % change, updates quarterly
Real gross domestic product measures the change in the inflation-adjusted value of all goods and services produced in the economy. It comprises private consumption and investment, inventory buildup, government spending and net exports. Markets watch this indicator to gauge the strength and composition of growth.
Global
Unemployment Rate
Harmonized unemployment rate, all persons, %, SA, updates monthly
Unemployment rates measure the percentage of the labor force currently not working but actively seeking employment. Markets monitor unemployment rates to assess the cyclical health of economies and the likelihood that wage demands may increase inflationary pressures.
Global
Consumer Prices
All items, core, annual change, %, SA, updates monthly
Consumer Price indices measure the change over time in average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in these indices are closely followed by policymakers, financial markets, businesses, and consumers. Statistics agencies typically report both an ‘All Items’ number that includes all categories in the calculation basket, and a "Core" number that strips out highly volatile food and energy prices. Data shown are "Core" indices distributed by the respective national statistics agencies.
Global
Current Account
Current account balance, % share of global gross domestic product, updates annually
Current accounts measure each individual country’s transactions with the rest of the world. They measure the difference between the inflows of funds to a country from goods and services exported, income on holdings of foreign assets, remittances and grants received versus the outflow of funds from the same activities. A positive current account balance indicates that a country is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower.
*Estimates begin after 2024
Global
Policy Rates
Central bank target rates, %, updates monthly
Central bank policy rates are the rates used by a central bank to implement or signal its monetary policy stance. Rates are typically set by policy making committees at regularly scheduled meetings throughout the year. In some countries policy rates are represented by discount rates and in others by repurchase agreement rates. Please note: A number of central banks implement their monetary policy based on more than one interest rate. For central banks that communicate a target band, the middle of the band is shown. Rates shown may lag decisions due to monthly recalculation periods.
Global
Money Supply
M2 money supply, billions USD, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Global
Money Supply Growth
M2 money supply, annual change, billions USD, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Global
Central Bank Assets
Central bank assets, billions USD, updates monthly
Central Bank Assets consist of government and corporate bonds, credit granted to financial institutions, foreign reserves, and other securities. Changes in central bank balance sheets help determine liquidity in the banking system and assist in the implementation of monetary policy. When policymakers buy government bonds and corporate debt instruments, they are seeking to lower yields and loosen financial conditions. Conversely, when assets are sold, they are seeking to increase yields and tighten financial conditions.
Global
Economic Policy Uncertainty
Global Economic Policy Uncertainty Index, GDP-weighted average, updates monthly
The Global Economy Policy Uncertainty Index is a gross-domestic-product-weighted average of national economic policy uncertainty indices for 16 countries that account for two-thirds of global output. Each national index reflects the relative frequency of own-country newspaper articles that contain a trio of terms pertaining to the economy, uncertainty and policy-related matters.
Global
General Debt Ratios
Credit to general government, non-financial corporate, and household sectors, % of gross domestic product at market value (Chinese government at nominal value)
Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
Global
Net International Investment Position
Net international investment position, billions USD, adjusted for breaks, updates quarterly
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities..
Latest Analysis
Latest Analysis
Swings & roundabouts
15 January, 2026
• Positive tone. Sentiment improved overnight. US equities rebounded. Bond yields rose. Oil fell. AUD ticked up thanks to some relative outperformance.• Data flow. Limited releases today. Next week things...
Currency ranges tighten as complacency sets in
15 January, 2026
Good morning. Currency markets have slipped back into extremely tight ranges as geopolitical fears recede and incoming data point to “Goldilocks” conditions across much of the advanced world. Realised...
Fundamental drivers reassert themselves in currency markets
14 January, 2026
Good morning. After a series of early-week distractions, currency market drivers are shifting back toward economic fundamentals today, with mixed US data keeping yields within tight ranges and the Japanese...
Tame inflation weighs on the dollar
13 January, 2026
Consumer price growth accelerated by slightly less than expected in the United States last month, helping lower short-term yields and putting downward pressure on the dollar. According to data published...
Noise vs Signal
12 January, 2026
• Headline noise. Markets continue to take geopolitical/macro developments in stride. US equities rose overnight. AUD ticked higher.• US Fed. Investigation into Fed Chair Powell raises concerns about central...
'Sell America' trade returns, albeit in modest form
12 January, 2026
The US dollar, Treasuries, and stock market indices are all trading slightly lower this morning after the Trump administration stepped up its assault on the Federal Reserve, launching a criminal investigation...
Dollar slides as Trump administration steps up attack against Federal Reserve
11 January, 2026
The Trump administration sharply intensified its assault on the Federal Reserve’s independence this evening, threatening a fundamental cornerstone of the international monetary and financial system—and...
Fall in US unemployment rate boosts dollar
09 January, 2026
The US economy generated fewer jobs than anticipated, but the unemployment rate declined last month, giving the Federal Reserve room to slow the pace of monetary easing over the course of 2026. According...
Mixed data supports dollar in countdown to tomorrow's payrolls report
08 January, 2026
Happy Thursday. The dollar is extending its advance for a third session after yesterday’s data underscored the US economy’s resilience, denting bearish conviction. Most major currency pairs remain rangebound,...
Markets turn data-driven
07 January, 2026
Good morning, and feel free to hit the snooze button. Financial markets are back to ignoring geopolitical headlines, with most major currency pairs exhibiting rangebound behaviour, Treasury yields flatlining,...