Cryptos: All News & Analysis

Tightening Thursday (ECB & friends), US data/surveys, labor market refuses to break, oil slumps, gold lower on strong dollar, bitcoin follows broader market

US stocks didn’t stand a chance today after digesting a hawkish FOMC decision and a round of data/surveys that support the argument that the economy is recession bound. The labor market might not be breaking but it is becoming clear the consumer is weakening and manufacturing activity is in a recession. US retail sales posted the largest drop in nearly a year.

15-12-2022 12:41 GMT by Edward Moya

CPI React: Stocks surge on cool inflation report, bitcoin nears $18k

US stocks embraced a very cool inflation report that supports the idea that the Fed could be done with hiking rates after the February FOMC meeting. The Fed might not have to take rates to 5.00% or higher and that is surprising news for stock traders. Fed tightening is looking like it will just need a half-point increase tomorrow and a 25bp increase in February.

13-12-2022 10:34 GMT by Edward Moya

Mid-Market update: Stocks waver post PPI and UMich survey, oil jumps as Putin considers output cut, gold shines, bitcoin anchored at $17k

US stocks are settling higher after a mixed round of pricing data seemed unlikely to change what the Fed will do next week. Stocks are finishing a down week on a positive note as expectations remain high that the Fed will downshift to a slower pace. Inflation is heading lower but we won’t know for a couple quarters if more tightening will be required by the Fed. For now, investors appear confident that the Fed will stop tightening once the terminal rate peaks around the 5.00% to 5.25% levels.

09-12-2022 12:37 GMT by Edward Moya

Stocks poised to snap 5-day losing streak, Jobless Claims, Bitcoin seesaws around $17,000

US stocks are rebounding as investors await a key round of pricing data points that could tilt the scales over how much more tightening the Fed will do in the February policy meeting. It looks like this losing streak for stocks will end not because of positive catalysts but on exhaustion from this 5-day losing streak. Jobless claims didn’t really tell us anything new but some investors were excited over an analyst upgrade given to Boeing’s stock. Wells Fargo increased their Boeing price targ

08-12-2022 14:07 GMT by Edward Moya

A bit flat

Equity markets look a little flat on Thursday, perhaps a sign that we've entered into a waiting period ahead of some major data releases and central bank meetings. This month was always effectively split into two dominant weeks, the first of the month which included the jobs report that proved extremely impactful. And then next week when we get a flurry of interest rate decisions and some big data releases.

08-12-2022 05:11 GMT by Craig Erlam

Stocks lower on rising risks, Putin talks nuclear, Warnock wins, cryptos decline

US stocks declined as investors fixated over how bad of a recession will hit the US economy and weighed on geopolitical risks. The economy is entering slowdown mode as final Q3 nonfarm productivity data was revised higher and labor costs were significantly revised lower. Yield curve inversion deepens and nears a four-decade low which is clearly setting up this economy for a recession that won't be a mild one.

07-12-2022 15:30 GMT by Edward Moya

Stocks down on recession worries, Apple Car delays, bitcoin flat

US stocks edged lower on recession worries and as more CEOs voice concerns about the downturn that is coming. Layoff announcements are becoming more noticeable as Morgan Stanley is expected to cut about 2% of its global staff and BuzzFeed announced plans to reduce its workforce by 12%. Goldman Sachs CEO Solomon warned of ‘bumpy times’ and that activity levels will likely be constrained in a ‘tougher economic environment.’ JPMorgan CEO Dimon focused on the possibility of a ‘mild to hard’ rece

06-12-2022 16:28 GMT by Edward Moya

Wind out of the sails

Stock markets are making small losses on Tuesday, while US futures are relatively unchanged ahead of the open. The recovery rally has lost momentum in recent sessions which is understandable after that jobs report. That's not to say optimism can't and won't return but that wages component was a huge body blow.

06-12-2022 10:14 GMT by Craig Erlam

ISM Service Index sends stocks lower, Crypto volatility

US stocks are declining as Wall Street debates whether this bear market rally has finally come to an end. With the exception of an inflation-fueled ISM Services index, it should be relatively on the data front until Friday’s one-two punch of PPI and the University of Michigan report.

05-12-2022 16:13 GMT by Edward Moya

A nervy start to the week

What could have been a really positive week for equity markets is off to a much more nervy start, with stocks in Europe treading water and US futures slightly lower. The US jobs report on Friday was red hot once more, extinguishing any hope that investors could hop aboard the Fed pivot train and ride stock markets higher into year-end. Perhaps it's not quite so dramatic but it was a real setback, something we should be used to by now. The wages component was the killer blow.

05-12-2022 09:02 GMT by Craig Erlam

Market Insights Podcast (Episode 406)

Jonny Hart looks back on the week's business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about a hot nonfarm payroll report, what is driving the oil markets, and discuss Bitcoin resilience. They also discuss what the week ahead has in store for financial markets.

02-12-2022 13:59 GMT by Edward Moya

NFP React: Fed bets rise post hot NFP report, stocks lower, oil awaits big week ahead, gold dips, cryptos little changed

US stocks tumbled after the nonfarm payroll report showed the labor market, especially wage pressures, is not cooling quickly at all. Wall Street is scratching its head as a lot of traders expected to see a labor market slowdown accelerate. A headline gain of 263,000 jobs was almost above the most optimistic estimate and the gain with wages was jaw-dropping.

02-12-2022 13:37 GMT by Edward Moya

Oil risk, gold steadies, bitcoin cautious

Steady going into a highly uncertain weekend Oil prices are quite steady on approach to the weekend. There remains considerable uncertainty around the action OPEC+ will take when it meets on Sunday, although there's every chance that the meeting will be delayed or that discussions take longer than normal, as a result of the price cap being finalized by the EU. A cap of around $60 is now reportedly close to being signed off, the impact of which is still unclear as Russia already sells to its tr

02-12-2022 06:31 GMT by Craig Erlam

Stocks volatile ahead of NFP, US Data, BOJ Tamura’s first impression, Tether loan concerns

US stocks were unable to hold onto earlier gains as Wall Street digested a swathe of economic data that showed inflation is easing and the labor market is cooling. It’s been a nice rally but no one wants to be aggressively bullish heading into the NFP report.

01-12-2022 14:23 GMT by Edward Moya

Stocks await Powell, US data, crypto focus shifts to legislation

US stocks are entering a holding pattern ahead of Fed Chair Powell's speech as some investors look for him to somewhat ease up on the hawkish rhetoric. The economy is weakening and traders want to see the Fed Chair deliver a clear message that they will downshift their pace of tightening and are close to hitting the breaks. No one wants to put on a major position before Powell and they probably won't if he sticks to his script that the pace of hikes will slow but they still have more to do t

30-11-2022 10:29 GMT by Edward Moya

Stocks edge lower ahead of kickoff, record cyber Monday, consumer confidence, cryptos modestly rise

The early morning stock market rally that stemmed from optimism that China was poised to deliver more stimulus and nearing a loosening of COVID restrictions did not last. Investors remain fixated on anything that involves inflation and most of those headlines are leading many to believe the Fed hawks might be proven right next quarter.

29-11-2022 15:06 GMT by Edward Moya

A promising response to protests

Investors in Europe remain in a cautious mood on Tuesday as they await a huge influx of economic data in the coming days, while US futures are also pointing to modest gains ahead of the open. Stocks in China soared after a difficult start to the week, on the hope that the country's zero-Covid policy stance may be relaxed further. That had been the expectation in recent weeks, with a modest softening recently seen being followed by a more substantial shift in the spring. But protests in recent da

29-11-2022 10:10 GMT by Craig Erlam

Stock slide amid China unrest

It's been a pretty quiet start to the trading week, with the negative session in Asia continuing into Europe and the US ahead of the open on Wall Street. Chinese stocks have been hit particularly hard amid unrest over Covid restrictions. The protests really do highlight how increasingly frustrated the public is becoming with the leadership's zero-Covid policy, even if it has been modestly relaxed recently. Record cases across multiple cities are putting the policy to the test and the unrest high

28-11-2022 10:19 GMT by Craig Erlam

Black Friday lull

We're seeing subdued trading at the end of the week, with the absence of the US leaving markets lacking any notable direction. This isn't really unusual and at the end of the week too, it really makes sense. Barring a flurry of big headlines from elsewhere, we could now see equity markets just drift into the weekend with investors already having an eye on next week. Perhaps today people are trading in their charts for some Black Friday deals, the outcome of which will certainly be on everyone's

25-11-2022 07:59 GMT by Craig Erlam

A "dovish" boost

Equity markets are making steady gains in Europe and Asia on Thursday, while Wall Street is closed for the Thanksgiving bank holiday. The day got off to a decent start as investors on this side of the pond played catch-up following the late rally in the US. All considered it hasn't been the most lively of weeks but the FOMC minutes did ensure investors went into the Thanksgiving break on a bit of a high. A dovish boost before Thanksgiving The most notable takeaway from the minutes - which were n

24-11-2022 09:06 GMT by Craig Erlam

Cryptos: all news & analysis