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
Payrolls Smash Forecasts, Propelling Dollar Higher
04 October, 2024
The US job creation engine snapped back into high gear in September, crushing odds on a second outsized rate cut at the Federal Reserve’s November meeting. According to data just released by the Bureau...
Caution Grows as Payrolls Loom
04 October, 2024
Traders are signing pre-nuptial agreements with their positions this morning, avoiding exposure to downside risk ahead of a potentially-pivotal non-farm payrolls report. The dollar’s gains are slowing...
AUD/NZD: RBNZ needs to get moving
03 October, 2024
The NZD’s revival against the AUD, which washed through from end-July to mid-September on the back of stronger dairy prices (NZ’s major export) at the start of the new season and concerns about China’s...
Middle East nerves
03 October, 2024
• Oil spike. Comments by US President Biden relating to the Middle East conflict pushed up oil. Shaky risk sentiment supported the USD. AUD a bit lower.• GBP weaker. Dovish BoE rhetoric weighed on GBP....
Dollar Keeps Climbing the 'Wall of Worry'
03 October, 2024
The dollar is holding near a two-week high, boosted by safe haven demand and a diminishing sense of conviction in a steep rate-cutting cycle from the Federal Reserve.
Oil prices are still grinding higher...
Middle East Turmoil Keeps Markets In Risk-Off Mode
02 October, 2024
Fear levels are subsiding across global financial markets after Iran launched at least 180 ballistic missiles at Israel yesterday without inflicting large numbers of casualties or causing significant damage...
Middle East tensions rock the boat
01 October, 2024
• Geopolitics. Developments in the Middle East dampened sentiment. Equities & bond yields declined. USD a little firmer. AUD modestly lower.• Oil & vol. Brent crude prices increased, but now look...
US Fed remains data dependent
30 September, 2024
• China focus. The surge in China’s equity market continued yesterday. Iron ore prices also higher. This helped the AUD add to recent gains.• Fed Chair. US yields & the USD clawed back some ground...
Will the US jobs market continue to buckle?
29 September, 2024
• Mixed markets. Equities in China continue to power ahead, while lower inflation weighed on European/US bond yields. USD near 2024 lows.• AUD holding. AUD remains near the top of the range it has occupied...
US Inflation Subsides and Canadian Economy Flatlines
27 September, 2024
The Federal Reserve’s preferred inflation measure continued its moderation in August and personal spending missed expectations, helping bolster bets on a second consecutive oversized rate cut at the central...