Cryptos: All News & Analysis

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

Market Insights Podcast (Episode 447)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They preview the FOMC and BOE rate decisions, discussed the market reaction to a hot UK inflation report, recap the wild moves with gold, and talk cryptos.

22-03-2023 12:57 GMT by Edward Moya

US Close: Fed expected to hike one more time, Yellen calms markets, Oil rebounds, Gold hit by profit-taking, Bitcoin awaits Fed

US stocks are higher as officials signal they will do whatever it takes to protect the banking system. Treasury Secretary Yellen’s comments at the American Bankers Association conference sparked today’s risk-on mood.

21-03-2023 15:52 GMT by Edward Moya

Market Insights Podcast (Episode 446)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed the UBS take over of Credit Suisse, preview the FOMC decision, and talk cryptos.

20-03-2023 14:52 GMT by Edward Moya

US Open: Stocks waver after UBS takeover deal/coordinated CB action/banking worries, Yen thrives on risk aversion flows, Bullish oil bets abandoned, Gold $2k, Bitcoin closer to $40k than November low

Looks like it will be another long week on Wall Street. It was a busy weekend after a Credit Suisse bailout and a coordinated effort by the Fed and other central banks to boost dollar liquidity. Despite a couple major weekend attempts to contain the risks hitting the banking system, US stocks are wavering as risk aversion won’t be going away until markets are confident that the Fed is done with their rate hiking campaign. The banking system still doesn’t have any confidence as Wall Street tri

20-03-2023 09:47 GMT by Edward Moya

Market Insights Podcast (Episode 445)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed the market reaction after this week's banking turmoil, the University of Michigan sentiment report, Fed expectations for next week, recap the ECB decision, cryptos, and the week ahead.

17-03-2023 14:02 GMT by Edward Moya

Oil continues slide, gold higher, bitcoin surges

Terrible week continues Oil prices have been pummelled this week as turmoil in the banking sector has increased the risk of a significant economic slowdown or recession this year. Clearly, traders are not convinced that the worst is behind us which continues to weigh heavily on the price of crude, particularly going into a weekend when anything can happen, as we saw a week ago.

17-03-2023 12:14 GMT by Craig Erlam

US Open: Stocks still jittery on banking woes, Inflation expectation fall to lowest levels in nearly 2 years, Crude struggles, Gold shines, Bitcoin eyes $30k

US stocks are weakening on fears that this week’s banking turmoil will lead to tighter lending standards that will cripple small businesses and eventually send this economy into a recession. The Fed’s rate hiking cycle was already feeling restrictive, so now that we have rising risks of more bank bailouts and even tighter credit standards, the growth outlook for the economy is rather bleak. Next week will be huge as markets are unsure if the Fed will continue to tighten or given this week's ban

17-03-2023 10:58 GMT by Edward Moya

US Close: Stocks rally as bank jitters ease, No surprises from Yellen, ECB hikes, Oil rebounds, profit-taking time for gold, Bitcoin edges higher

US stocks are rallying as Wall Street worries over the banking sector are easing after the big banks offer support to First Republic and as the SNB gave Credit Suisse a lifeline. Banking jitters are fading quickly for now and that has everyone scrambling back into risky assets. Yellen Treasury Secretary Janet Yellen’s testimony to the Senate did not yield any surprises. She defended the proposed budget and reiterated that there will be a careful look at what happened with SVB.

16-03-2023 13:52 GMT by Edward Moya

A gamble from the ECB?

It's been another wild session in financial markets and the ECB had the unenviable task today of making a decision on interest rates amid all of the uncertainty and turbulence. One thing that was clear from Lagarde's press conference is that it isn't just markets that expect the tightening cycle may have come to an abrupt end following the events of recent days.

16-03-2023 13:11 GMT by Craig Erlam

Mid-Market Update: Bank rebound fuels risk rally, Disinflation trends are not back, Too early for rate cut and hold calls, Oil struggles, Gold softens, Crypto rally

Banking contagion risks are evaporating and Wall Street is ready to pile back into risky assets. US stocks are surging as regional bank stocks bounce back and after the eight straight deceleration with the annual inflation pace supports the case for some that the Fed’s tightening work is almost done. CPI Today’s inflation data still supports the case for another quarter-point rate hike by the Fed. Wall Street seems to be focusing on both the strong rise with shelter prices as that made up 70

14-03-2023 13:28 GMT by Edward Moya

Cryptos: all news & analysis