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Global

Markets
Economics

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

All Commentary

Latest Analysis

Dollar Rebounds After Short-Lived Selloff
17 July, 2025
The dollar is resuming its upward climb and bond markets are stabilising after suffering a short-lived bout of extreme volatility early in yesterday’s session on speculation surrounding the potential firing...
Fed Chair in the firing line
16 July, 2025
• Market jolt. Reports & denials about whether Chair Powell may be removed generated a burst of volatility. On net, US equities rose & USD weakened.• Fed changes. Fed Chair can’t be fired...
Currencies Retrace After Subdued Wholesale Inflation Print
16 July, 2025
Bond yields and the dollar are giving back some of yesterday’s gains after US wholesale prices flatlined in June, helping assuage fears of a sharp acceleration in the Federal Reserve’s preferred inflation...
USD revival tour
15 July, 2025
• US CPI. Uptick in US inflation has seen Fed rate cut expectations fall. USD firmer on the back of higher yields. AUD & NZD lose some ground.• US data flow. US producer prices out tonight. US import...
Knee-Jerk Market Reaction Fades On Mixed US Inflation Print
15 July, 2025
US inflation printed below expectations for a fifth consecutive month in June as tariff-led price increases in core goods categories were offset by softness in the services sector and in automobile costs....
Markets Keep Playing Chicken With Trump
14 July, 2025
Financial markets are beginning the week in a remarkably-calm state after the Trump administration spent the weekend escalating its trade war and stepping up its assault on Federal Reserve chair Jerome...
Trump Raises Tariffs on Mexico and the European Union to 30 Percent
12 July, 2025
Currency markets are headed for another bruising open when trading begins in Asia tomorrow afternoon after President Donald Trump delivered another set of letters threatening to impose higher tariffs on...
Dollar Firms As Trump's Letter-Writing Campaign Accelerates
11 July, 2025
The dollar looks set to end the week on a more supportive footing after Donald Trump redoubled his efforts to revive the forgotten art of letter writing, threatening to substantially raise tariffs on Canadian...
Canadian Dollar Tumbles As Trump Ups Tariff Ante With 35-Percent Threat
10 July, 2025
Update: Bloomberg is reporting that a US official has clarified that the new tariff threshold is NOT intended to apply to USMCA-compliant goods, suggesting that the impact on the Canadian economy could...
Tariff pen pals
09 July, 2025
• Holding on. US sends out more tariff letters. Equities unfazed with S&P500 pushing higher. Bond yields dip. USD consolidated. AUD range-bound.• RBNZ steady. RBNZ on hold. But underlying tone &...

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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.