Cryptos: All News & Analysis

Recession bound, Yellen restarts talks with China, BOJ, oil higher, gold holds $1900, bitcoin weakens

US stocks declined after traders digested softer economic readings that are starting to raise growth concerns. The ‘bad news is good news’ rally ran out of steam as investors started to realize a recession is coming. US data A swathe of economic data confirmed that disinflation trends clearly remain in place. Recession-bound risks are rising after a larger-than-expected PPI decline, a major downshift in spending, and plunging industrial production. This round of falling PPI pressures comp

18-01-2023 14:30 GMT by Edward Moya

Stubborn

Equity markets are marginally higher in Europe, with the Nikkei outperforming in Asia on the back of a much weaker yen. BoJ stands firm The Bank of Japan has decided to stand its ground against market forces that have forced it to purchase huge amounts of JGBs in order to defend its yield curve control upper band. Despite mounting speculation that it could be prepared to further tweak the tool or abandon it altogether, the central bank has stubbornly dug in its heals and seemingly prepared itsel

18-01-2023 05:59 GMT by Craig Erlam

US Close: A busy Tuesday (China’s GDP, Goldman, Morgan Stanley, Empire, ECB), Commodities mixed, Cryptos soften

US stocks are wavered as traders digest mixed bank earnings, a disheartening Empire manufacturing report, and as Treasuries rally at the front-end of the curve. The Dow’s decline is mostly thanks to Goldman Sachs massive earnings miss. China’s GDP The good outweighs the bad with the outlook for China’s economic future. China’s latest swathe of economic data points provide significant optimism that their reopening momentum could impress throughout the year.

17-01-2023 14:02 GMT by Edward Moya

Pushing back

Equity markets are a little softer on Tuesday as investors await more earnings from the US and closely monitor events in Davos. Stocks have had a strong start to the year on the belief that interest rates may not go as high as feared and even move into reverse later in the year. While that is looking plausible in the US, it may not be the case in Europe where policymakers are seemingly still some way from considering the tightening cycle complete. The ECB, for example, was very late to the party

17-01-2023 07:50 GMT by Craig Erlam

Market Insights Podcast (Episode 420)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the speculation around the Bank of Japan's yield curve control, Davos, and cryptos.

17-01-2023 02:36 GMT by Craig Erlam

Eyeing Davos and earnings

A relatively muted start to the week amid lighter expected trade due to the US bank holiday, with Europe and much of Asia posting small gains. It's been quite a frantic start to the year so investors may be capitalizing on the opportunity to catch their breath. They won't have long given the flurry of central bank speak as policymakers gather in Davos this week and as earnings season heats up in the US. There's certainly an increasing sense of optimism about 2023 as we make our way through the o

16-01-2023 09:10 GMT by Craig Erlam

Market Insights Podcast (Episode 419)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed inflation drivers, bank earnings, oil markets, Bitcoin's breakout, and the week ahead.

13-01-2023 15:00 GMT by Edward Moya

Mid-Market Update: A busy earnings start, Sentiment Rebounds, Tesla woes remain, Oil’s good week, Gold shines, Crypto breakout?

US stocks were initially softer after the banks delivered a disappointing start to earnings season along with a downbeat outlook for the economy. Stocks are heading lower as Wall Street anticipates earnings will decline significantly and margins will be tested. This is the quarter that companies will announce layoffs and cost-cutting measures as the economy still appears to be recession-bound. Stocks pared losses after consumer sentiment rose to a 9-month high. Plunging gas prices were a k

13-01-2023 11:14 GMT by Edward Moya

Earnings to spoil the party?

It's been another lively week in financial markets and one in which investors have become increasingly hopeful that 2023 won't be as bad as feared. In a way, the week started with the jobs report the Friday before as it was this that enabled the enthusiasm to build. The labour market has been a major barrier to optimism as the Fed was never going to pivot quickly unless there were signs in the labour market that slack was building and wages cooling.

13-01-2023 07:49 GMT by Craig Erlam

Volatile session after another cool CPI report, Fed’s Harker/Collins support another downshift, Claims suggest labor still too strong, Oil rallies on weaker dollar, Gold tests $1900, Bitcoin nears $18,500

US stocks initially rallied as inflation continues to ease and as Fed members are clearly signaling a smaller tightening pace going forward. The dollar also headed lower as a subdued inflation report should let the Fed slow their hiking pace again. It became clear fairly quickly that stocks would not hold onto initial gains as we will likely remain being data-dependent going forward. The labor market is still hot and much of the relief we saw with energy prices appears to be going away this mon

12-01-2023 10:28 GMT by Edward Moya

Will the inflation report deliver?

European equity markets opened cautiously higher on Thursday, following a mixed session in Asia amid nerves around the US inflation release later in the day. This inflation print has been the main topic of conversation all week. The jobs report last Friday changed the dynamic in the markets and ensured that not only was this CPI report going to be important but in all likelihood pivotal ahead of next month's Fed meeting. We've gone from inflation declining but the labour market being stubbornly

12-01-2023 04:12 GMT by Craig Erlam

Calm before inflation storm, air travel got grounded, is WWE the next meme stock? Crypto softens

US stocks are drifting higher as optimism remains intact that a pivotal inflation report will continue to show disinflation trends remain in place. Right now might be the calm before the inflation storm as we are not seeing major positioning ahead of this CPI report.

11-01-2023 14:54 GMT by Edward Moya

All eyes on the inflation report

Investors remain in an upbeat mood going into tomorrow's US inflation report, buoyed still by the December jobs report and the prospect of the economy being less squeezed by interest rates. Fed Chair Jerome Powell may have refrained from commenting on the monetary policy outlook on Tuesday but the chances are he wouldn't have said anything investors would have liked even if he had addressed it. It's been clear from other commentaries that policymakers are sticking to the hawkish script. Another

11-01-2023 11:16 GMT by Craig Erlam

Powell remarks were a non-event, stocks edge higher, dollar pares gains, NFIB, coinbase struggles

Whipsaw moves in stocks continue as investors fixate over central bank speak and as they await a pivotal inflation report later this week. US stocks edged higher as we didn’t get a steady dose of hawkish speak from Fed Chair Powell and as expectations grew for disinflation trends to continue. Wall Street appears to be turning more bullish with stocks, but that might include a rebalancing of how much weight they put into tech stocks. Ten days into the New Year and some traders are already t

10-01-2023 11:44 GMT by Edward Moya

Fed pushing back

European stock markets are softer in early trade on Tuesday following a similar session in much of Asia as investors turn more cautious ahead of Thursday's US inflation data. The commentary from Fed officials at the start of the week was more hawkish than what investors wanted to hear following a knockout jobs report. Considering the rhetoric in the weeks leading up to Friday, it shouldn't have come as a great surprise that policymakers are sticking to the "higher for longer" narrative. There ha

10-01-2023 06:57 GMT by Craig Erlam

Stocks rally on soft landing hopes, Goldman Layoffs, oil rallies on China optimism, gold higher, Solana impresses

US stocks are rallying as soft-landing hopes grow ahead of this week’s key CPI report that should show disinflation trends remain intact. Wall Street is pricing in the Fed to be one and done with tightening and possibly cutting rates at the end of the year. Today’s risk-on rally for stocks got a boost from a weaker dollar and optimism that China’s reopening was gaining steam. Corporate headlines are showing consistent stories of a weakening consumer which should help bring down inflation.

09-01-2023 14:27 GMT by Edward Moya

NFP React: Stocks rise on strong jobs report and slowing wage pressures, ISM Services contract, oil rises, gold higher as Fed hiking job almost done, crypto pares losses

US stocks initially rallied after the NFP report showed the labor market remains strong and as wage price spiral risks are easing. The Fed will stay on their tightening course but risks of more hikes in the Spring are easing as optimism is growing that wage pressures will continue to drop. Stocks are getting a boost here as Fed rate hike bets get slashed, but earnings risks should keep the gains somewhat limited. The focus will shift to next week’s inflation report and traders should not be sur

06-01-2023 10:15 GMT by Edward Moya

Treading water

Markets are treading water ahead of the release of the first jobs report of the new year, with investors very aware of just how important this could be after last month's setback. The November report contained everything the Federal Reserve did not want to see. Strong jobs growth - with upward revisions to prior releases - much higher wages than anticipated and weaker participation.

06-01-2023 07:38 GMT by Craig Erlam

Stocks decline post hot labor data, Amazon layoffs, ADP/Claims/Challenger impress, bitcoin flat

US stocks are declining after Wall Street digested hawkish Fed minutes, robust labor data, and another round of Fed speak that suggests they will hold rates at higher levels. This latest round of data confirms the Fed's messaging that more rate hikes are coming.

05-01-2023 15:33 GMT by Edward Moya

Tech leading the way

It's been a mixed day of trade in Europe and the US is poised to open marginally lower as traders take a step back following a lively start to the year. The Fed minutes may have put a slight dampener on things although I'm not entirely sure. The narrative from the central bank is very much in line with what we should expect.

05-01-2023 10:29 GMT by Craig Erlam

Cryptos: all news & analysis