Dollar Gains Ground as Euro Outlook Darkens - Weekly Roundup: 23 June
J.P. Morgan upgraded its US dollar outlook, citing resilient labour data, firmer inflation and a hawkish Fed, and now projects EUR/USD around 1.13‑1.15, down from 1.20. Business travel costs surged—airfare up 8%, hotels 6%—yet companies kept volumes steady, absorbing higher expenses. In the UK, 84% of firms remain confident despite global shocks, focusing on cash‑flow tools and cost‑saving measures. European payment ecosystems are consolidating, with Danish providers moving bulk kroner clearing onto STEP2 and the EU pushing payment‑sovereignty initiatives, while stablecoin‑related products such as State Street’s reserve MMF and AFP/Kyriba training gain traction.
Treasurers Build Cash Buffers as Stablecoins Stall
Corporate treasurers are boosting cash buffers, with 46% of firms raising US cash balances over the past year, up from 38% previously. Safe, liquid assets now dominate short‑term portfolios, comprising 83% of holdings, while bank deposits fell to 42%—the lowest...
FCA Softens MMF Liquidity Plan - Weekly Roundup: 16 June
The FCA has softened its proposed 50% weekly liquidity rule for UK money‑market funds, moving to supervisory guidance that stable‑NAV funds hold 40% and variable‑NAV funds hold 20% weekly liquid assets. Goldman Sachs pushed back its expectation for the first...
Treasurers Push Banks for Practical Innovation - Weekly Roundup: 2 June
European treasurers are demanding practical cash‑management improvements, favouring pricing, service and workflow efficiency over banks' flashy digital promises, according to Crisil’s Voice of Client‑2025 study of firms with revenues above €500 m (≈ $545 m). Meanwhile, Gartner warns CFOs that 84% of AI...
Treasurers Turn Defensive as Volatility Becomes Business as Usual
Corporate treasurers are treating persistent market volatility as a permanent backdrop, shifting focus from reactive shock management to proactive balance‑sheet resilience. The 2026 Corporate Debt and Treasury Report shows 72% now expect volatility as business‑as‑usual, while only 8% cite material...
Working Capital Foundations: Measure of Capital Use in the CCC
The article explains the treasury definition of working capital, called net adjusted working capital (NAWC), calculated as accounts receivable plus inventory minus accounts payable. Using a sample balance sheet, it shows NAWC of $11 million, representing cash tied up in the...
Global Growth Slows as Shocks Spread - Weekly Roundup: 26 May
UNCTAD’s Trade and Development Foresights 2026 warns global growth will decelerate to 2.6% in 2026, with merchandise trade slowing to 1.5‑2.5% after a 4.7% surge in 2025 and developing economies facing higher energy, food and financing pressures. Meanwhile, Australian equities...
Working Capital Foundations: Measure of Solvency
The article introduces the accounting definition of working capital as current assets minus current liabilities, a simple metric that gauges an organization’s ability to meet short‑term obligations. Using two balance‑sheet examples, it shows how a $10 million working‑capital surplus can remain...
Cross-Border Payments Face Fragmentation Risk - Weekly Roundup: 12 May
Cross‑border payments remain costly and fragmented, with average remittance fees near 6.4%—double the G20 target—prompting calls for faster ISO 20022 adoption and coordinated G20 action. At the same time, Canada has unveiled up to US$1 bn of low‑rate loans to steel, aluminium...
War Tests Sweden’s Economic Resilience
Swedbank’s Economic Outlook sees Sweden weathering the Middle‑East war‑driven energy shock with a modest slowdown, projecting 1.8% GDP growth in 2024 and 2.4% by 2027. Inflation is expected to stay around 1.5%, comfortably below the Riksbank’s 2% target, allowing the...
Flash Data Shows War’s Growing Economic Toll - Weekly Roundup: 28 April
Flash PMI data show the eurozone slipping into contraction as the Middle‑East war pushes up prices, lengthens supply‑chain delays and fuels precautionary inventory builds, while the UK and US remain in expansion but with weaker underlying demand. Britain unveiled a...
Payment Delays and Geopolitics Test Exporters
Allianz Trade’s 2026 Global Survey of 6,000 exporters shows optimism persisting despite the Middle East war, with 75% still expecting export growth, though confidence slipped six points. Geopolitical risk now tops the agenda for 65% of firms, pushing 80% to...
Treasury and Payments Through 2026: Four Pressures Redefining Strategy, Risk, and Liquidity
Treasury and payments leaders face four converging pressures that will shape strategy through 2026: escalating AI‑driven payments fraud, tighter liquidity discipline amid inflation and higher borrowing costs, increasingly interdependent geopolitical and market risks, and the transformation of payments into a...
Geopolitics and FX Cloud Treasury Outlook - Weekly Roundup: 21 April
Treasury teams are feeling heightened pressure from geopolitics, with 88% of respondents expressing moderate to high concern, prompting a defensive shift toward money‑market funds and early AI adoption for cash forecasting. European banks see digital assets as a modest threat,...
Asia Gains Ground in Global Capital Shift - Weekly Roundup: 14 April
HSBC’s new survey of 3,000 global firms shows a decisive tilt toward Asia, with 41% naming mainland China as the most important market over the next five years, while volatility is now seen as a permanent backdrop. Investors are reallocating...