In this episode of FX in Focus, we have a conversation with David Britten and Peter Dragicevich about the macroeconomic themes that shaped 2025, and take a look ahead to what may be in store for 2026. They describe the 2025 market as volatile but resilient, driven largely by the disruptive start to Donald Trump’s second term. US trade tariffs and policy uncertainty sparked sharp swings in sentiment. Ultimately, the US dollar posted its largest annual decline in over 20 years. A major positive surprise was the strength of the global AI investment boom, which supported equities, productivity, and global growth. Outside the US, Asia and Australia performed better than feared, helped by trade diversification, stimulus, and lower interest rates. Peter and David also discuss their 2026 outlook, predicting that although markets appear calm and perhaps even complacent with low volatility and stretched valuations, risks tied to US policy, geopolitics, central bank leadership changes, and AI valuations could trigger renewed turbulence. The outlook for the Australian and New Zealand dollars is cautiously constructive, though gains may be capped as tighter monetary policy may slow growth. Tune in now to listen to the entire episode!

ISO 20022 is a global messaging standard for exchanging financial data—it can be compared to a common language that banks, payment providers, and corporates can all speak clearly and efficiently. While many legacy formats like MT messages were more akin to sending a postcard with limited space, ISO 20022 is more like sending an email—with rich, structured, and comprehensive data. This November marks a key SWIFT deadline for cross-border payments to migrate to the new message formatting, which will impact most parties in the payments chain, including banks, financial institutions, payment services providers, corporates, enterprise-level organizations, CFOs, treasurers, and many more. Listen to our conversation to learn more about the industry's migration to the ISO 20022 messaging upgrade—it’s a smarter, faster, and safer way to do business globally, and Corpay is on hand to make the transition smooth and accurate.

Bienvenue dans « Focus Partenaires », une série où nous mettons nos filiales et associés au premier plan. Cette série vous offrira un aperçu du réseau d'idées et d'objectifs qui stimule la croissance du réseau de marques mondiales avec lesquelles nous collaborons. Il s'agit de notre premier épisode, et nous sommes ravis d'accueillir notre précieux partenaire, le Cirque du Soleil. Notre animateur est Philippe Savoy, vice-président principal des ventes chez Corpay Cross-Border, fort de plusieurs décennies d'expérience en conseil aux entreprises internationales sur la gestion de leurs risques de change et de leurs expositions aux devises. Il est accompagné d'Emmanuelle Leclerc-Granger, CPA, directrice financière du Groupe Cirque du Soleil. Au cours de ses quatre décennies d'existence, le Cirque du Soleil est passé d'une compagnie de 20 personnes à une puissance mondiale du divertissement, une expansion si intense et ciblée qu'elle a engendré des risques de change. C'est pourquoi le fait que Corpay devienne leur partenaire mondial en matière de change s'est imposé comme une évidence. Écoutez-nous pour découvrir toute l'histoire!

Welcome to Partner in Focus, a series where we are placing our affiliates and associated at the forefront. The series will bring insights into the web of ideas and objectives and that drive growth for the network of global brands we partner with. This is our inaugural episode, and we’re delighted that our guest is our esteemed partner, Cirque du Soleil. Our host is Philippe Savoy, SVP Sales, Corpay Cross-Border who has decades of experience advising global business on managing their currency risk and FX exposures. He is joined by Emmanuelle Leclerc-Granger, CPA, the Chief Financial Officer of Cirque du Soleil Entertainment Group. Cirque Du Soleil transformed from a 20-person show to a global entertainment powerhouse over its four decades, an expansion so fierce and focused that it brought in currency exposures. This is where the Corpay becoming their global foreign exchange partner felt ‘natural’. Listen in, to hear the whole story!

Join us for our latest podcast episode, where we talk about the US’s tariff war, and its impact on companies as they try to plan for their future. Ed Kim, Corpay Cross-Border’s Regional Director for Currency Risk Management Solutions, shares his perspective around how to manage your FX when the ability to forecast is diminished, and the world seems to be “Selling America”. The threat of a trade war sparked by tariffs has reduced companies’ abilities to forecast confidently. Businesses of all sizes and niches are finding it harder to predict what their supplies will cost, or what their status quo will be as it comes to their inventory and sales revenue. So where do you start as it comes to sifting through the noise and determining your next move? Do you take steps to try to plan for unpredictable future volatility, or would looking back at your trading patterns to date, be a more effective way of examining your options? Join our discussion to hear Ed’s expertise as it comes to how Treasurers and CFOs can maintain a healthy outlook as they navigate declining certainty.

Why would a business consider opening a foreign currency account? In this episode of FX in Focus, we explore how companies making regular payments to international suppliers or employees, or receiving payments from customers in multiple countries, could benefit from a multi-currency account or a local currency account. Organizations ranging from multinationals with regional offices and subsidiaries and tech and SaaS companies with international clients, manufacturers with global supply chains, traditional importers and exporters, and many other types of businesses can leverage foreign currency accounts to support local currency transactions—from customers or clients or to vendors and suppliers. John and Philippe also dive into the reasons why a multi-currency account can help businesses circumvent the costly and time-consuming process associated with opening local currency accounts with foreign banks. All cross-border providers are not created equal – and that extends to their multi-currency account capabilities. Tune in today to learn what to look for in such a product, as well as the providers who offer them.

In our latest episode, we have a conversation about evaluating and managing types of risk in fund management. The thinking in financial markets is often that an element of risk is essential to generate returns. The fund or portfolio manager is then, in many ways, a professional risk manager, evaluating what types of risk—and level of risk—are acceptable to the investment committee. The manager then devises a strategy that aligns with the fund’s policies on risk appetite, and implements their strategy accordingly. In this episode of Forward Points, Andrew Shortreid, who leads Corpay’s Funds and Institutional group, extends this concept to FX risk for international funds. A sound and disciplined FX hedging program separates the noise from the signal, so the focus stays on the fund’s financial returns. You won’t want to miss this.

Olivier Carrolaggi’s career, spanning three continents, gives him a singular vantage point on "Africa: A continent of contrasts,” where ancient conflicts and military coups coexist with intraregional economic development. New leaders are slowly introducing more democratic policies. Digitalisation supports innovation and financial inclusion, most important, access to education for the region’s growing youth population.

Marky Ho joined Corpay Cross Border in November of 2023, bringing 20 years of experience in banking and trading to the team. He offers perspective on the challenges developing Asia faces, including exposure to climate events and high dollar debt. He also describes innovations that increase regional economies’ resilience—and trends to keep an eye on.

In our chat, Jeff outlines the benefits that many economies in the region derive from proximity to the US and Canada, but rising inflation, high debt, political polarisation, and uneven development are persistent challenges. He also enlightens us on some regional bright spots and success stories, including new technologies, discoveries, and policies that are sparking growth.