OANDA Senior Market Analyst Craig Erlam talks about GBP/JPY which compares the performance of two of the worst performing major currencies.
30-09-2022 16:56 GMT
by Craig Erlam
Forex: all news & analysis
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The New Zealand dollar is down sharply today. In the European session, NZD/USD is trading at 0.5676, down 0.85%.
New Zealand dollar can't find its footing
It has been a tumultuous week in the currency markets, and the New Zealand dollar is about to record a losing week for a seventh straight time.
30-09-2022 08:26 GMT
by Kenneth Fisher
The euro is showing limited movement today, after a two-day rally. In the European session, EUR/USD is trading at 0.9759, down 0.55%.
It has been a week of swings for the euro, which has traded in a 300-point range.
30-09-2022 06:56 GMT
by Kenneth Fisher
The yen has been drifting for most of the week and the trend is continuing today. USD/JPY is almost unchanged at 144.32.
Japanese data surprises on the upside
Japan has released strong industrial production and retail sales data, a further indication that the Japanese economy is improving.
30-09-2022 04:59 GMT
by Kenneth Fisher
British pound calm after tumultous week
The British pound has posted slight gains, after a spectacular showing on Thursday. In the European session, GBP/USD is trading at 1.1145, up 0.26%.
For anyone looking for lots of volatility, look no further.
30-09-2022 04:08 GMT
by Kenneth Fisher
AUD/USD has reversed directions today and is down 1.07%, trading at 0.6425.
Aussie roller-coaster continues
The currency markets have been busy this week, and the Australian dollar hasn't missed out on the action. On Wednesday, AUD/USD traded in a range of almost 200 points and ended the day with sharp gains of 1.3%, but has pared most of those gains today.
29-09-2022 10:20 GMT
by Kenneth Fisher
The yen has reversed directions today and is in negative territory. In the North American session, USD/JPY is trading at 144.59, up 0.33%.
29-09-2022 09:30 GMT
by Kenneth Fisher
The Canadian dollar continues to show sharp volatility this week. USD/CAD has jumped 0.65% today and is trading at 1.3693.
We are seeing significant volatility in the currency markets this week, with weaker risk appetite propelling the US dollar higher.
29-09-2022 05:50 GMT
by Kenneth Fisher
Pound sharply lower despite BoE intervention
The roller-coaster continues for the British pound, which is down sharply today. In the European session, GBP/USD is trading at 1.0774, down 1.05%.
It has been a remarkable week for the British pound, which has exhibited sharp volatility since Friday, when Chancellor Kwarteng unveiled his mini-budget.
29-09-2022 04:29 GMT
by Kenneth Fisher
US stocks are rallying after the BOE’s intervention tentatively halted the bond market selloff. The theme on Wall Street is rising risks for a hard landing next year, while we are hearing a steady chorus of Fed speak that mostly confirmed the market’s expectation that rates will rise to 4.25%-4.50% by the end of the year. Some traders are growing confident that we are close to seeing the end of the Fed's tightening cycle, but that is still too early to say.
BOE
The UK economy was hit with Br
28-09-2022 12:55 GMT
by Edward Moya
Oil
Energy traders are widely awaiting the next OPEC+ meeting that will likely make sure the oil market remains tight. Oil is back above the $80 level on seasonal stockpiling, some resilience in the economy that is delaying recession risks, and mostly on expectations OPEC+ will cut production between 500k and 1 million bpd.
28-09-2022 12:51 GMT
by Edward Moya
The pound started the day with losses but has reversed directions and soared in the North American session. GBP/USD is trading at 1.0838, up 0.98%.
Bank of England steps in to calm markets
The new Truss government has started off on the left foot, sending the pound to a record low in the process.
28-09-2022 12:28 GMT
by Kenneth Fisher
The euro is in negative territory today, after posting six straight days of losses. EUR/USD is trading at 0.9553 in Europe, down 0.41%.
Referendums, Nord Stream explosions weigh on euro
September can't end fast enough for the euro, which has declined a massive 4.8% against the dollar.
28-09-2022 05:16 GMT
by Kenneth Fisher
Oil rebound brief as gas spikes amid sabotage on Nord Stream pipelines
Oil prices rebounded on Tuesday but that proved to be only a brief correction as economic doom and gloom has driven them lower again this morning. With Brent trading only a little above $80 and WTI below, you have to wonder how much more OPEC+ will tolerate and the size of output cut they may be considering next week in light of the new economic outlook and price.
Gas prices have also been highly volatile in light of the late
28-09-2022 04:06 GMT
by Craig Erlam
OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the crashing pound, BoJ bond buying and bitcoin.
27-09-2022 16:06 GMT
by Craig Erlam
Oil pares losses ahead of next week's OPEC+ meeting
Oil prices are recovering following the sell-off over the last couple of sessions. The prospect of a deeper economic slowdown, perhaps even global recession, has naturally turned traders more bearish on the price of oil as demand would naturally slump in those circumstances relative to prior expectations.
Of course, there is another side to that equation, supply.
27-09-2022 06:43 GMT
by Craig Erlam
Oil slips further amid economic concerns
Economic woes continue to weigh on oil prices, with Brent and WTI off around 1% again today and trading at pre-invasion levels. With more and more central banks being forced to take extraordinary measures no matter the cost to the economy, demand is going to take a hit which could help rebalance the oil market.
Of course, OPEC+ has made its position on this perfectly clear and should it wait until the next scheduled meeting on 5 October, I expect there'
26-09-2022 12:16 GMT
by Craig Erlam
Concerns building
Economic fears are sweeping through the markets once again this morning, with the UK taking a particular drubbing as the pound hit a record low against the dollar.
Friday's mini-budget has gone down like a lead balloon, much like the pound again this morning, and serious questions are already being asked about the economic competency of the new government.
So much so that markets are factoring in a strong chance of a substantial emergency rate hike from the BoE in order to shor
26-09-2022 12:10 GMT
by Craig Erlam
Now that Wall Street has had some time to digest the FOMC decision, the focus shifts to how quickly the economy is weakening and a wave of Fed speak. A wide range of economic releases includes more Fed regional surveys, durable goods orders, consumer confidence, new home sales, initial jobless claims, personal income & spending, and the PCE deflator.
An overwhelming amount of Fed speak include 16 appearances by policymakers.
23-09-2022 15:04 GMT
by Craig Erlam
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 the aftermath from the FOMC decision, Japan's yen intervention, and what is happening in crypto markets. They also discuss what the week ahead has in store for financial markets.
23-09-2022 14:28 GMT
by Edward Moya