Global
Global
Spot Performance
Gain (+) or loss (-) against USD, year to date, %, updates daily
Represents the percentage change, along with the minimum and maximum change in the nominal exchange rate relative to the US dollar year to date.
Global
DXY-Weighted Yield Differential
Foreign-US 10-year government bond yield differentials, %
Represents the difference between the 10-year US Treasury yield and a weighted basket of 10-year yields for the Euro Area, Japan, the UK, Canada, Sweden, and Switzerland. Positive values indicate higher yields in US dollars relative to other currencies, while negative values imply the opposite.

Global
Currency Volatility
Realized 3-month historical G7 currency volatility v. implied volatility, 3-month ATM options, updates weekly
Represents realized volatility - the scale and frequency of moves over the prior three months - and implied volatility - the market’s expectations of moves over the next three months. Realized volatility is measured using the annualized standard deviation of daily returns over a three-month rolling time horizon, and implied volatility is derived from at-the-money three-month currency options.
Global
Equity Volatility
VIX Volatility Index, NSA, adjusted for breaks, updates daily
The VIX Volatility Index is a measure of the stock market's expectation of volatility based on S&P 500 index options. It does not directly measure volatility in currency markets, but large movements in global foreign exchange rates are often associated with spikes in the VIX.
Global
Speculative Positioning
Net long (+) or short (-) futures position held by large speculators, billions US dollars, updates weekly
The Commodity Futures Trading Commission's weekly Commitments of Traders report provides a breakdown of the net positions for "non-commercial" (speculative) traders in US futures markets. Market participants follow the data to identify extreme long or short positions in a currency - something that can signal a trend reversal.
Global
Turnover by Currency
"Net-Net" basis, April 2022 daily averages, billions USD
Turnover by Currency measures the USD-equivalent value of spot contracts executed on a global basis during an average trading day. Figures on a "net-net" basis are corrected for local and cross-border inter-dealer double-counting.
Global
Turnover by Instrument
"Net-Net" basis, April 2022 daily averages, billions USD
Turnover by Instrument measures the USD-equivalent value of spot transactions, outright forwards, foreign exchange and currency swaps, options non-deliverable forwards, and other contracts executed on a global basis during an average trading day. Figures on a "net-net" basis are corrected for local and cross-border inter-dealer double-counting.
Latest Analysis
Latest Analysis
Australian CPI surprise
27 August, 2025
• Consolidation. Modest moves across markets. US bond yields fell again. AUD ticked higher. AUD also strengthened a bit on most of the major crosses.• AU CPI. Inflation re-accelerated with base-effects...
Powell Turns Dovish in Jackson Hole, Triggering Dollar Plunge
22 August, 2025
Federal Reserve Chair Jerome Powell provided a clear signal that the central bank will soon resume cutting interest rates in a speech at the Jackson Hole Economic Symposium this morning. “The balance of...
US Rate Cut Expectations Tumble Ahead of Jackson Hole
22 August, 2025
The trade-weighted dollar is holding near a two-week high after yesterday’s hotter-than-anticipated activity data triggered a dramatic reappraisal of the Federal Reserve’s expected easing trajectory, lowering...
What will Chair Powell say?
21 August, 2025
• Cautious tone. Hawkish Fed soundbites & positive US data saw yields tick higher. US equities slipped back. AUD & NZD remain on the backfoot.• Fed speak. Chair Powell speaks at Jackson Hole tonight....
Outlook Improves As Global Private Sector Activity Rebounds
21 August, 2025
A hint of cautious optimism is creeping into currency markets this morning after a raft of activity gauges suggested that the global private sector is proving surprisingly resilient in the face of the...
Currency Markets Steady As Traders Await Fed Communications
20 August, 2025
It’s quiet. Too quiet. Most major currency pairs remain trapped in tight price ranges this morning as volumes fall, but the dollar is firming slightly as traders hedge themselves against an unexpectedly-hawkish...
RBNZ: who let the doves out?
20 August, 2025
After holding steady last time out the Reserve Bank of New Zealand once again spread its ‘dovish’ wings at today’s policy meeting. As expected, the RBNZ announced another 25bp cut which lowered the Official...
Markets hit an air pocket
19 August, 2025
• Market wobbles. A small bout of risk aversion overnight. US equities declined while the USD ticked up. AUD & NZD lost some ground.• RBNZ meeting. RBNZ expected to cut rates again today. Will it flag...
Currency Market Price Action Slows, Canadian Inflation Eases
19 August, 2025
A sense of calm has descended upon global financial markets as the data cadence slows, geopolitical developments settle to a dull roar, and monetary policy expectations stabilise. Benchmark Treasury yields...
Traders Turn Cautious in Run-Up to Jackson Hole
18 August, 2025
Good morning, and welcome back. In the US, ten-year Treasury yields are holding near last week’s levels, equity futures are setting up for a modest advance at the open, and the dollar is trading near a...