2026-04-09 02:09:00
Economic health, trade flows, and financial stability—among other factors—continue to play a central role in shaping how currencies perform globally.
This graphic, developed in partnership with OANDA, breaks down how the world’s most actively traded currencies performed in 2025, offering a snapshot of currency strength across key regions.
Among developed economies, the U.S. dollar (USD) continues to dominate global FX trading, with average daily turnover reaching $8.56 trillion, according to the BIS. The euro (EUR) follows at $2.77 trillion, while the Japanese yen (JPY) remains the most traded currency in Asia.
Despite this dominance, 2025 was a weaker year for advanced market currencies overall, particularly the U.S. dollar, which fell 9.1% amid slowing economic momentum and shifting interest rate expectations.
| Region | Currency | 2025 (% change) |
|---|---|---|
| North America | U.S. dollar (USD) | -9.1% |
| Middle East & North Africa | UAE dirham (AED) | 0.0% |
| South Asia | Indian rupee (INR) | -4.8% |
| Sub-Saharan Africa | South African rand (ZAR) | 13.5% |
| Europe & Central Asia | Euro (EUR) | 13.0% |
| East Asia & Pacific | Japanese yen (JPY) | 0.1% |
| Latin America & Caribbean | Mexican peso (MXN) | 15.3% |
The euro was a notable exception, rebounding 13.0% as inflation pressures eased and growth expectations improved across the region.
Meanwhile, the Japanese yen was largely unchanged, edging up just 0.1% against the USD, reflecting continued divergence in monetary policy between the U.S. and Japan.
In contrast, many emerging market currencies delivered strong gains in 2025, benefiting from shifting capital flows and improving investor sentiment.
The Mexican peso led global performance, surging 15.3% against the U.S. dollar, while the South African rand followed with a 13.5% increase, highlighting renewed strength across parts of Latin America and Africa.
Not all emerging currencies advanced, however. The Indian rupee declined 4.8% against the USD, weighed down by structural challenges and capital outflows.
In the Middle East, the UAE dirham remained stable due to its peg to the U.S. dollar, effectively mirroring the greenback’s performance.
The divergence between advanced and emerging market currencies in 2025 underscores how quickly global FX dynamics can shift.
As the U.S. dollar weakened, capital rotated toward higher-yielding and previously underperforming currencies, driving strong rebounds in several emerging markets.
For investors, this environment highlights the importance of tracking relative economic strength, central bank policy direction, and exposure to commodity-driven economies.
OANDA provides access to a wide range of global currencies, helping traders navigate evolving opportunities in the foreign exchange market.
Note: Past performance is not indicative of future results.
The USD appears in 88% of global FX trades and 58% of reserves—but which currencies are most frequently paired with it?
Gold’s breakout in 2025 is compelling when viewed across global currencies. Which ones are rising the fastest?
As U.S. trade policy shifts under President Trump, global exporters are facing a more uneven landscape. Which ones are winning versus losing?
Will Fed easing in 2026 pressure the USD, or will global rate shifts rewrite the usual pattern?
For each of the world’s seven major regions, what is the most-traded currency and how did it perform versus the U.S. dollar in 2024?
Building a well-balanced, diversified portfolio involves including assets with varying correlations. The USD, with its weak or negative correlations to other assets, can be a valuable…
The U.S. dollar is used in 88% of FX trading transactions. Which currencies are most commonly on the other side of the exchange?
Which major currencies have performed best on the foreign exchange market over the last decade?
2026-04-09 01:12:09
See more visuals like this on the Voronoi app.
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
SpaceX is still private, but its reported IPO valuation target already puts it in rare territory.
At $1.75 trillion, Elon Musk’s rocket and satellite company would enter the public markets as the eighth-largest company in the world.
This visualization compares SpaceX’s targeted IPO valuation with those of the world’s largest public companies, ranked by market capitalization using data from CompaniesMarketCap and Bloomberg as of April 1, 2026.
At a targeted valuation of $1.75 trillion, SpaceX would be worth more than all but seven of the world’s largest public companies.
The table below shows the biggest companies globally by market cap and where SpaceX would rank among them:
| Rank | Company | Market Cap (billions, USD) |
|---|---|---|
| 1 | NVIDIA | 4,280 |
| 2 | Apple | 3,760 |
| 3 | Alphabet (Google) | 3,580 |
| 4 | Microsoft | 2,750 |
| 5 | Amazon | 2,270 |
| 6 | TSMC | 1,780 |
| 7 | Saudi Aramco | 1,780 |
| 8 | SpaceX | 1,750 |
| 9 | Broadcom | 1,490 |
| 10 | Meta Platforms (Facebook) | 1,470 |
| 11 | Tesla | 1,430 |
| 12 | Berkshire Hathaway | 1,030 |
| 13 | Walmart | 996 |
| 14 | Eli Lilly | 858 |
| 15 | Samsung | 838 |
| 16 | JPMorgan Chase | 797 |
The largest U.S. companies include Nvidia, Apple, Alphabet, Microsoft, and Amazon, alongside international giants like TSMC and Saudi Aramco.
If SpaceX lists near $1.75 trillion, it would surpass Saudi Aramco’s roughly $1.7 trillion debut in 2019, making it the largest IPO by valuation in history.
For context, that valuation would be more than double the size of JPMorgan, the largest U.S. bank, and Eli Lilly, the world’s largest pharmaceutical company.
SpaceX already handles over half of all global orbital launches. In addition to its reusable rockets, it operates Starlink, the world’s largest satellite internet network.
Musk’s path to becoming a trillionaire depends largely on his stakes in SpaceX (42%) and Tesla (12%).
A public listing near $1.75 trillion would significantly increase the value of his holdings, potentially putting him within reach of a $1 trillion net worth, depending on Tesla’s share price.
Musk is already the world’s richest person, but crossing the trillion-dollar threshold would mark a first in history—roughly equivalent to Switzerland’s annual GDP.
To learn more about how big the space economy is, check out this graphic, which visualizes its size.
2026-04-08 20:05:58
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Americans aren’t just moving, they’re bringing billions in wealth with them.
This map visualizes net wealth migration by state in 2023, based on Realtor.com’s analysis of the latest data from the Internal Revenue Service.
Florida alone gained tens of billions in income from out-of-state residents. Meanwhile, states like California and New York saw massive outflows, highlighting how affordability is playing a central role in domestic migration trends.
Between 2019 and 2023, Florida saw $137 billion in net income flows from interstate moves, exceeding the GDP of Hawaii.
The annual adjusted gross income from these flows reached nearly $21 billion in 2023, more than the next five states combined.
These inflows aren’t just large—they’re high-income. Florida’s incoming residents had an average annual income of $122,530, meaning the state isn’t just gaining people, but higher-earning taxpayers who can significantly boost local economies.
This table shows net income flows from domestic migration in 2023 by state:
| Rank | State | Net Interstate Income Flows 2023 |
|---|---|---|
| 1 | Florida | $21B |
| 2 | Texas | $6B |
| 3 | North Carolina | $4B |
| 4 | South Carolina | $4B |
| 5 | Arizona | $3B |
| 6 | Tennessee | $3B |
| 7 | Nevada | $2B |
| 8 | Idaho | $988M |
| 9 | Georgia | $746M |
| 10 | Colorado | $715M |
| 11 | Alabama | $540M |
| 12 | Maine | $502M |
| 13 | Montana | $500M |
| 14 | Utah | $477M |
| 15 | Arkansas | $447M |
| 16 | Oklahoma | $261M |
| 17 | South Dakota | $256M |
| 18 | Wyoming | $149M |
| 19 | Vermont | $93M |
| 20 | West Virginia | $11M |
| 21 | Hawaii | -$3M |
| 22 | Mississippi | -$66M |
| 23 | Wisconsin | -$76M |
| 24 | New Mexico | -$93M |
| 25 | Kentucky | -$112M |
| 26 | North Dakota | -$144M |
| 27 | Alaska | -$210M |
| 28 | Missouri | -$215M |
| 29 | Nebraska | -$244M |
| 30 | Washington | -$265M |
| 31 | Iowa | -$266M |
| 32 | Indiana | -$326M |
| 33 | Kansas | -$361M |
| 34 | Connecticut | -$460M |
| 35 | Oregon | -$476M |
| 36 | Louisiana | -$799M |
| 37 | Virginia | -$912M |
| 38 | Michigan | -$956M |
| 39 | Minnesota | -$1B |
| 40 | Pennsylvania | -$2B |
| 41 | Ohio | -$2B |
| 42 | New Jersey | -$3B |
| 43 | Massachusetts | -$4B |
| 44 | Illinois | -$6B |
| 45 | New York | -$10B |
| 46 | California | -$12B |
| -- | Delaware | n/a |
| -- | New Hampshire | n/a |
| -- | Maryland | n/a |
| -- | Rhode Island | n/a |
Texas followed with $6 billion in inflows, while other Sun Belt states like North Carolina and South Carolina each gained $4 billion.
Arizona and Tennessee, meanwhile, each brought in $3 billion. Not only do many of these states lead in new home construction per capita, they are known for their lower cost of living compared to states like California and New York.
California lost $12 billion in wealth in 2023 alone, the largest outflow of any state. This highlights how high housing costs and taxes are pushing even high-income households to relocate.
From 2019 to 2023, wealth outflows totaled a staggering $91 billion. Both high housing costs and tax burdens have pushed many residents to seek more affordable destinations.
New York experienced $10 billion in net outflows, while Illinois (-$6 billion) and Massachusetts (-$4 billion) also saw sharp declines.
Overall, wealth migration trends point to a sustained shift toward lower-cost, high-growth states.
As income flows concentrate in regions like the Sun Belt, these movements are influencing housing demand, state tax revenues, and local economic activity. In many cases, states gaining wealth are also seeing stronger population growth and increased housing construction.
At the same time, continued outflows from high-cost states highlight the growing role of affordability in shaping where Americans choose to live, and where capital ultimately follows.
If these trends continue, the shift in wealth could reshape state economies for years to come. Tax revenue, housing demand, and economic influence may increasingly concentrate in faster-growing, lower-cost regions.
To learn more about this topic, check out this graphic on America’s fastest-growing states from 2025-2050.
2026-04-08 14:29:27
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Air power remains one of the clearest signals of military reach, and a key measure of how militaries project power globally.
This chart ranks the world’s largest air forces in 2026 by total aircraft, revealing a massive gap between the United States and every other country. It also breaks out fighter and interceptor fleets, offering a closer look at frontline combat strength.
The data for this visualization comes from GlobalFirepower, as of March 2026.
The most striking takeaway is the scale gap at the top.
The United States leads with 13,032 aircraft, more than the next three countries combined, putting it in a class of its own.
Russia ranks second with 4,237 aircraft, while China is third with 3,529.
| Rank | Country | Total Aircraft | Fighters / Interceptors |
|---|---|---|---|
| 1 |
 United States |
13,032 | 1,791 |
| 2 |
 Russia |
4,237 | 861 |
| 3 |
 China |
3,529 | 1,443 |
| 4 |
 India |
2,183 | 476 |
| 5 |
 South Korea |
1,540 | 242 |
| 6 |
 Japan |
1,429 | 217 |
| 7 |
 Pakistan |
1,397 | 331 |
| 8 |
 Türkiye |
1,101 | 201 |
| 9 |
 Egypt |
1,088 | 242 |
| 10 |
 France |
974 | 223 |
| 11 |
 Saudi Arabia |
917 | 283 |
| 12 |
 North Korea |
837 | 341 |
| 13 |
 Taiwan |
720 | 258 |
| 14 |
 Italy |
714 | 88 |
| 15 |
 United Kingdom |
625 | 103 |
| 16 |
 Algeria |
620 | 111 |
| 17 |
 Israel |
597 | 239 |
| 18 |
 United Arab Emirates |
581 | 99 |
| 19 |
 Germany |
569 | 127 |
| 20 |
 Greece |
560 | 178 |
The United States has long prioritized air dominance, and the size of its fleet reflects that strategy.
In fact, its 1,791 fighters and interceptors alone exceed the total aircraft inventories of many countries on this list.
Most aircraft in an air force aren’t combat jets. Instead, they are support systems that enable operations.
These include transport planes for moving troops and equipment, helicopters for mobility and logistics, training aircraft for pilot development, and specialized planes for refueling, surveillance, and electronic warfare. Together, these fleets determine how far, how fast, and how effectively a military can project air power.
Air power is increasingly centered in Asia and the Middle East.
China, India, South Korea, Japan, Pakistan, and Türkiye all place in the top eight, while Egypt and Saudi Arabia also rank in the top 11.
Looking only at fighters and interceptors reveals a different balance of power.
China’s 1,443 fighter aircraft bring it closer to the U.S. in frontline combat aviation than total fleet size alone would suggest.
In addition, North Korea stands out, ranking 12th in total aircraft but fielding 341 fighters and interceptors, more than several countries with larger overall fleets. Meanwhile, nations like France, Israel, Taiwan, and Saudi Arabia show how relatively smaller air forces can still maintain substantial combat capability through a high share of fighter aircraft.
In modern warfare, total fleet size shows scale—but fighter strength and support capabilities together determine how that power is actually used.
If you enjoyed today’s post, check out Iran War Sees Lowest U.S. Approval Rating Ever on Voronoi, the new app from Visual Capitalist.
2026-04-08 02:12:57
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
The rapid expansion of data centers is being met with a growing number of possible restrictions across U.S. states.
This visualization charts which U.S. states have proposed restrictions on new data centers, and the number of announced projects in each. The data comes from Stateline and Aterio, respectively.
When it comes to the U.S. states looking to restrict or ban data centers, the majority are looking at temporary bans, while three are looking at conditional restrictions.
The data table below shows the 11 states considering restrictions or bans, the potential length of time of the ban, and the number of currently announced data center projects in each state:
| State | Type of Restrictions | Duration | Number of Announced Data Centers |
|---|---|---|---|
| Georgia | Temporary ban | Until March 2027 | 340 |
| Maryland | Conditional restrictions | Not fixed | 10 |
| Michigan | Temporary ban | Not specified | 21 |
| New Hampshire | Temporary ban | 1 year | 0 |
| New York | Temporary ban | 3 years | 72 |
| Oklahoma | Temporary ban | Until Nov 2029 | 34 |
| South Carolina | Temporary ban | Until Jan 2028 | 8 |
| South Dakota | Temporary ban | 1 year | 6 |
| Vermont | Temporary ban | Until July 2030 | 0 |
| Virginia | Conditional restrictions | Not fixed | 498 |
| Wisconsin | Conditional restrictions | Not fixed | 28 |
Virginia is a hotspot for data center development, given 70% of the world’s internet traffic passes through its northern territory. This number is set to explode as a further 498 data centers are slated for construction in the state.
This rapid growth has been met with backlash from some policymakers as Virginia looks to apply conditional restrictions to data centers — potentially putting those announced data centers at risk. Restrictions would be tied to energy usage.
Georgia, where 340 projects have been announced, has proposed a ban on new projects until March 2027.
New York, with 72 announced data centers, and Oklahoma, which has 34, are looking to pause new constructions while they conduct studies to better understand data center energy demand, land use, and broader impact. New York’s pause could last three years, while Oklahoma’s could stretch as far as November 2029.
Wisconsin is also seeking a ban on data centers unless lawmakers introduce consumer protections, for instance regulation that ensures water and energy costs don’t fall onto residents. Some 28 data centers have been announced in the state.
Meanwhile proposals in Michigan, which has 21 announced projects, would block data centers and industry-related discretionary incentives.
Maryland would block the construction of new data centers without specific legislation first requiring sites to co-locate with power generation. Maryland has 10 announced data centers.
States without a large pipeline of new projects are also taking preemptive action.
South Dakota, with six projects announced, has tabled a one-year temporary ban on the construction and expansion of data centers.
South Carolina, with eight announced data centers, is looking to halt permits and incentives until January 2028.
Vermont has one of the longest proposed bans, which would run until 2030 and apply specifically to AI data centers, while New Hampshire is looking at a temporary one-year ban beginning when the policy is implemented. Neither state has any announced data centers, but both would conduct impact studies.
These restrictions are all currently being considered by states but none have yet been passed.
Many of the proposed restrictions involve stopping to take stock of the impacts of data centers, from energy use to rising costs for consumers. It follows increasing backlash from communities affected by or living close to such facilities.
Where states are not acting, local leaders have also taken action. For instance, Indiana’s White County introduced its own moratorium on new data centers back in October.
To learn more about this topic, check out this graphic which visualizes all the world’s data centers.Use This Visualization
2026-04-08 01:31:21
The global footprint of U.S. troops remains extensive. The data shows a small group of strategic host countries concentrate most deployments.
This visualization, created in partnership with Inigo, provides visual context to where U.S. forces are stationed and how that footprint reflects shifting geopolitical priorities. These placements highlight enduring alliances and evolving security concerns.
Japan hosts the largest U.S. presence with 61.7k personnel. Germany follows with 49.3k. South Korea ranks third at 26.7k.
| Country | Total Military & Civilian Personnel (2025) |
|---|---|
|
Japan |
61,684 |
|
Germany |
49,338 |
|
South Korea |
26,722 |
|
Italy |
15,365 |
|
United Kingdom |
11,592 |
 Spain |
4,331 |
 Bahrain |
3,813 |
 Belgium |
1,832 |
|
Turkey |
1,728 |
 Cuba |
771 |
Italy and the United Kingdom host 15.4k and 11.6k personnel respectively. These locations form the backbone of U.S. military positioning in Europe.
This distribution is not new. U.S. troop levels across these top host countries have hovered around 200k for the past decade. The consistency reflects long standing defense agreements and established infrastructure.
Beyond the top hosts, smaller but strategic deployments remain important. Spain has 4.3k personnel. Bahrain has 3.8k. Turkey hosts 1.8k. Cuba rounds out the top 10 with 0.8k.
These placements support key operational hubs and regional missions. Many are tied to naval access, logistics, and rapid response capabilities.
Overall, deployments align closely with major security priorities. Forces are concentrated in regions linked to Russia and China. This reflects a continued focus on deterrence and alliance support in critical theaters.
The U.S. military presence abroad remains highly concentrated and strategically aligned. Japan and Germany anchor this network, while other host countries support regional operations.
The data shows stability in overall troop levels. It also highlights how geography continues to shape military strategy. As global tensions evolve, this footprint is likely to remain a key tool of U.S. power projection.
Explore a Data-Driven View of Risk.
Global perceptions of trust in the United States are shifting, reflecting a broader reassessment of alliances in a more uncertain world.
Across the U.S., the ground beneath many major cities is gradually subsiding. 25 out of America’s 28 largest cities are slowly sinking.
Wildfires in the United States are becoming more destructive, with many of the most severe seasons occurring in the past decade.
As housing spreads into the fire line, exposure is rising sharply, compounding loss potential and challenging long-term insurability.
Rising labor and material costs mean every insured dollar now rebuilds less, widening the recovery gap after disasters across the United States.
Lower interest rates have often supported stronger real estate returns and improved valuations. Will that trend return in 2026?
From climate volatility to economic and technological shifts, a wide range of forces are reshaping property risk in the U.S.
Hurricanes are a defining force in the U.S. climate, capable of leaving behind profound environmental, social, and economic devastation.
Global temperatures are climbing—but how is this trend playing out across the United States, and which regions are being hit the hardest?
Wildfire events are growing increasingly frequent and destructive around the world as human-driven climate impacts continue to escalate.
Drought grips much of the U.S., affecting over 60 million people today.
Weight loss drugs have surged in popularity in recent years, transforming the pharmaceutical landscape. Which brands are dominating this space?
The pharmaceutical industry has made enormous strides in treating—and even curing—a wide range of diseases and conditions. Which areas are seeing the most R&D in 2025?
Pharma giants don’t just make medicine—they shape the future of healthcare. Who are the world’s major players?
The fraud and financial crime landscapes are evolving rapidly. What are the key threats shaping risk in 2025?
Some of the largest digital heists didn’t rely on brute-force hacking, they exploited the weakest link in security: human trust.
As cybersecurity threats escalate, which financial crimes are causing the most harm? The FBI has the data.
Suspicious activity has been rising in the U.S., but is it spread evenly throughout all 50 states? Certainly not.
As technology and AI become more widespread, fraud and other suspicious activity are rising across America. Which types are the most common?
From money laundering to fraud, financial crime acts as a drain on the economy, totaling an incredible $3.1 trillion.
Over half the global population is ruled by non-centrist types of government, including autocracies and left or right wing parties.
Ukraine will require an estimated $524B over the next decade to recover from the Russia-Ukraine war. Which sectors have been most impacted?
Amid tariff increases, consumers’ expectations for U.S. inflation in the next five years have reached their highest level since March 1991.
In his first 100 days, President Trump has issued far more executive orders than any other president in history.
