Cryptos: All News & Analysis

Fed dovishness emerges ahead of pivotal CPI report, Oil and gold rally, Ethereum's Shapella Upgrade is here

Stocks get a boost from a double dose of dovishness from Williams and Goolsbee Commodities rally as dollar softens Ethereum Shanghai Upgrade is here US stocks are mixed heading into a pivotal inflation report that should support one more rate hike by the Fed. Today’s headlines didn’t tell Wall Street anything it didn’t already know: IMF trimmed their growth outlook, Fed’s Williams supported one more hike, and CarMax earnings showed consumers are leaning towards older vehicles. CarMax is rally

11-04-2023 15:03 GMT by Edward Moya

Oil drifts lower, Gold back at $2000, Bitcoin resilience

Oil lower given the risk-off tone on Wall Street Gold lower as dollar rallies as Fed rate hike bets get locked in Bitcoin rallies back towards upper boundaries of key range Oil Crude prices are drifting lower as most energy traders are still on the sidelines until we get a clearer picture on the global growth outlook. There have been a lot of headlines but nothing is moving oil today as prices appear content hovering above the $80 given all the supply challenges. Rising tensions between Chin

10-04-2023 11:48 GMT by Edward Moya

Week Ahead - Can CPI, Retail Sales, and Bank Earnings derail Fed rate hike odds?

The US labor market is softening, but still remains tight and that should keep the door open for policymakers to raise rates again at the May 3rd policy meeting. The focus now shifts to whether disinflation trends can get back on track. The March inflation report is expected to show a slower monthly pace of 0.2%, down from 0.4%, while headline inflation reading is expected at 5.2% year on year, down from February’s 6.0%.

07-04-2023 11:33 GMT by Edward Moya

In-line NFP Report Bolsters Fed Rate Hike Odds, Dollar has its day, Bitcoin unfazed

European and US stocks markets are closed for Good Friday (Europe will stay closed on Monday) US Jobs Report raised odds of a Fed rate hike at the May meeting Dollar rallied, Bitcoin little changed In March, Charles Schwab acquired $53 billion in net new client assets After a week full of softening labor market readings, today’s nonfarm payroll report showed hiring is not cooling as quickly as some where thinking. The US jobs report was in-line with expectations, but it feels like a beat becau

07-04-2023 10:31 GMT by Edward Moya

Oil’s OPEC+ hangover, Gold profit-taking, Bitcoin’s moment to shine

Oil's third weekly gain all thanks to OPEC+ Gold down from 13-month high as profit-taking kicks before record highs Bitcoin hovers near recent highs Energy traders have an OPEC+ hangover as oil prices remain anchored. It seems WTI crude isn’t going to budge from the $80 a barrel level even as the headlines suggest the US economy is quickly weakening.

06-04-2023 14:01 GMT by Edward Moya

Are cracks appearing in the US labour market? NFP eyed for further evidence

We're seeing cautious trading ahead of the jobs report, with jobless claims offering signs of cracks appearing in the labor market. That primarily came from revisions to previous figures that show a clear trend higher in claims, a trend that is likely to worsen as mass layoff announcements find their way into the data. The next few months are likely to paint a very different picture of the labor market in the US and that could even be exacerbated by recent turbulence in the banking system.

06-04-2023 11:32 GMT by Craig Erlam

Video - Another volatile month in store for financial markets

OANDA Senior Market Analyst Craig Erlam highlights five things that he believes investors will be closely tracking over the next month.

05-04-2023 18:57 GMT by Craig Erlam

Commodities and Bitcoin rallies stall

Oil inventories drop as Saudis raise prices Gold rally stalls ahead of $2050 Bitcoin anchored at $28,000 Oil Crude prices are wavering after weakening US economic data was countered by a larger than expected draw with stockpiles as demand across all products roared back. Energy traders digested a round of US data that suggests the world’s largest economy is headed towards a recession, but then had a rather bullish EIA crude oil inventory report that was immediately followed by a decision from

05-04-2023 16:28 GMT by Edward Moya

US jobs report eyed as weaker JOLTS data signal slack appearing in labour market

Equity markets are treading water in the middle of the week as investors weigh up what is next for the Fed following the surprise decline in JOLTS job openings, how much further the RBNZ will go in light of today's decision and what the OPEC+ cut means for oil prices and inflation. There's been a lot to take on board over the last few days and it's been a real mix of good and bad news.

05-04-2023 04:52 GMT by Craig Erlam

Oil rally hits a wall, Gold shines, Keep your eyes on Bitcoin this Friday

Commodities have been supported by a weaker dollar Shortened Trading Week impacting flows Oil rally runs out of steam The crude rally hit a brick wall as market pessimism grows that US economy is headed towards a recession. Yesterday was all about the shock from the surprise OPEC+ production and today is about a weakening economy and growing consensus that a recession will happen later this year. This is a tough shortened trading week given Good Friday holiday for energy traders. A pivotal

04-04-2023 15:53 GMT by Edward Moya

Anxiety subsiding but RBA pauses rate hikes amid downside risks for the economy

Stock markets are moving cautiously higher again on Tuesday as anxiety continues to subside in the aftermath of last month's mini-banking crisis. RBA pauses amid fears over spending and lags in monetary policy The RBA paused its tightening cycle today, citing various concerns including a substantial slowdown in household spending, the lag from recent rate hikes, and the stress in US and European banks. While inflation remains far too high and further hikes may be warranted - no longer "will" - i

04-04-2023 08:24 GMT by Craig Erlam

Stocks waver after ISM Manufacturing hits weakest levels since 2020, Tesla’s disappointing record deliveries, Bitcoin liquidity dries up

Wall Street is trying to find its footing after a weaker-than-expected ISM manufacturing report countered OPEC’s surprise production cut that triggered inflation jitters. The S&P 500 index initially opened higher, led by the energy sector, healthcare, and consumer staples as traders rushed to buy anything energy and defensive.

03-04-2023 14:08 GMT by Edward Moya

A mixed start to the week as OPEC+ causes a stir in oil markets

Equity markets have started the week a little mixed amid a nasty surprise from OPEC+ at the weekend, albeit against the backdrop of easing anxiety over the banking sector. We're now entering the third week without new drama in the banks and while I don't think anyone is ready to claim victory, there is an increasing sense of relief. That said, investors are still trying to determine what the longer-term damage of the last month is and the lack of spring back in bond markets suggest the view that

03-04-2023 12:59 GMT by Craig Erlam

An encouraging end to the week for stock markets

An action-packed end to the week, month, and quarter sees equity markets cautiously higher going into the weekend. If we end the week in the green, that's a big deal considering how almost disastrous the rest of the month was. Confidence is easily shattered and difficult to restore and a positive end to the week would send a strong signal that investors are feeling reassured by the lack of turmoil recently. We saw quite the opposite a week ago, as a spike in Deutsche Bank credit default swaps tr

31-03-2023 10:00 GMT by Craig Erlam

Stock market recovery continues as investors eye jobless claims

Stock markets are in the green once more on Thursday, with confidence slowly returning as we near the end of the second week without serious drama. Of course, I'm not including the bank sell-off we saw late last week considering there was no obvious trigger, and fear and panic played a huge role in it. That was more a symptom of what preceded it than evidence of further vulnerabilities in the banking sector. That isn't to say that other vulnerabilities and casualties won't emerge but investors w

30-03-2023 07:37 GMT by Craig Erlam

Gradual recovery

Equity markets are edging higher again today, a sign of gradually improving confidence following a relatively drama-free weekend. As we saw on Friday though, anxiety remains high and things quickly spiral in those circumstances so investors are likely to remain vigilant. The dust is still settling but every passing day rebuilds confidence and allows investors to feel a little bit more relaxed.

28-03-2023 07:58 GMT by Craig Erlam

Banking risks and hawkish Fed speak weigh on oil, Gold & Bitcoin rallies exhausted

Oil dragged down on bank woes Crude prices are lower as banking worries persist and after Energy Secretary Granholm said refilling the SPR could take years. Banking turmoil will clearly have a negative impact on the economy, possibly crushing small businesses as lending becomes more difficult.

24-03-2023 15:38 GMT by Edward Moya

Banking Sector Drama Continues, Stocks pare losses as rate cuts fully priced in

Investors try to shrug off banking drama Wall Street was initially dragged down as banking worries persisted after Deutsche Bank’s costs against default skyrocketed. Deutsche Bank’s 5-year CDS surged from around 150 bps early on Thursday to a four-year high around 210 bps before settling closer to 193 bps. Other European banks, Societe Generale, Credit Agricole and BNP Paribas declined on banking turmoil fears.

24-03-2023 15:32 GMT by Edward Moya

US Open: Stocks rebound, Jobless Claims decline again, Block tumbles, BOE/SNB/Norges all hike, Turkey holds, Tesla rallies, Oil higher, Gold recaptures $2000, Bitcoin faces massive resistance at $30k

US stocks are rising as Wall Street digests what might be the Fed’s last rate hike and Secretary Yellen’s comment on blanket deposit insurance. The post-Fed selloff came from Yellen’s comment that they haven’t looked at backing all bank deposits with FDIC insurance. This was bad news for the banks and contagion fears. Yellen’s comment at a Senate panel hearing should be taken with a grain of salt given a decision to back all deposits would need congressional support. Optimism should remain th

23-03-2023 10:36 GMT by Edward Moya

US Close - Fed’s dovish hike trumped by Yellen not considering broad increase in deposit insurance, Oil rallies, Gold gets groove back, Bitcoin softens

Wall Street’s initial take on the Fed was that they delivered a dovish hike and that banking turmoil will finish the job of bringing inflation back to target. Fed Chair Powell started the press conference by noting that the banking system is sound, but Treasury Secretary Yellen put a wrench in that idea. Yellen noted that regulators are not considering a broad increase in deposit insurance. Yellen said she is not considering a broad increase in deposit insurance despite all the discussion aro

22-03-2023 17:07 GMT by Edward Moya

Cryptos: all news & analysis