Cryptos: All News & Analysis

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

Stocks higher on mixed US data, ISM contracts again, JOLTS impress, Salesforce layoffs, Aussie rises,, bitcoin higher but still in range

US stocks edged higher as investors grew confident that the Fed is nearing the end of its tightening cycle as the manufacturing sector is clearly in a recession, while the labor market refuses to break. This stock market rally however might be short-lived as the ISM report and JOLTS data painted a picture of a resilient labor market that should force the Fed into taking rates even higher into restrictive territory.

04-01-2023 13:46 GMT by Edward Moya

Growing Optimism?

Equity markets are pushing higher on Wednesday, buoyed by softer yields and some promising PMI revisions in Europe. It would appear investors are increasingly coming around to the idea that central banks will be forced into cutting rates earlier than previously anticipated in order to support the economy. That would also suggest they anticipate inflation will subside faster than previously thought which would be welcome if true after a year of overshoots. I'm sure this is a position that will ch

04-01-2023 09:08 GMT by Craig Erlam

A tough year ahead, betting on China, Tesla disappointing deliveries, happy birthday bitcoin!

US stocks were unable to hold onto earlier gains as restrictive policy and recession fears remained front and center for investors. Discount buying triggered another bear market rebound that didn’t last long at all.

03-01-2023 15:05 GMT by Edward Moya

No more festive cheer

A mixed start to trading on Tuesday as traders return following the festive break to some rather gloomy forecasts for the coming year. The IMF is among those warning of a tough year, more so than the one we've just left, as the simultaneous slowing down of the US, EU, and China takes its toll. Of course, all forecasts at this moment are subject to enormous uncertainty around the war in Ukraine, inflation, interest rates, and China's Covid response, among others, but it seems almost everyone is g

03-01-2023 04:10 GMT by Craig Erlam

Oil bouncing back, gold pushing on, bitcoin steady

Risks tilted to the upside? Oil markets are bouncing back in another volatile session at the end of the year. Going into 2023, the risks are arguably tilted to the upside, although that has been the narrative for much of the year and yet we're on course to end it not far from where we started. While producers have finally caught up with post-pandemic demand, other risks remain next year, notably Russian output amid the new price cap and its threats to cut output and not supply any countries ab

30-12-2022 12:18 GMT by Craig Erlam

Still drifting

We continue to drift into year-end with investors having little to cling onto that's going to drive markets one way or another. That is so often the case this time of year and while 2022 could have been different, given how chaotic the rest of the year has been, it has proven to not be the case. Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe.

29-12-2022 06:48 GMT by Craig Erlam

Cryptos: all news & analysis