The New Zealand dollar has reversed directions today and recorded sharp losses. NZD/USD is trading at 0.6285, down 0.75% on the day.
02-08-2022 06:08 GMT
by Kenneth Fisher
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The Australian dollar has declined sharply and is back below the symbolic 0.7000 level. AUD/USD is trading at 0.6931, down 1.35% on the day.
RBA raises rates by 50bp
The Reserve Bank of Australia raised interest rates by 50bp today.
02-08-2022 03:47 GMT
by Kenneth Fisher
US stocks are off to a lackluster as the start of a new month was filled with a bunch of reminders of how quickly the global economy is slowing down and as the risks to the outlook continue to grow. The shock contraction in China was immediately followed up with a wrath of EU manufacturing data that fell into contraction territory for the first time in almost two years. US factories are growing at the slowest pace in a couple of years, but the slower expansion was better than what most economis
01-08-2022 16:21 GMT
by Edward Moya
USD/CHF dips below 0.9500
The Swiss franc is showing little movement today, but USD/CHF has fallen below the 0.9500 line for the first time since May. The US dollar pushed the Swiss franc above the parity line in June, but since then the Swiss franc has steadily strengthened.
01-08-2022 11:22 GMT
by Kenneth Fisher
The Australian dollar has posted strong gains today. In the North American session, AUD/USD is trading at 0.7036, up 0.67% on the day.
RBA expected to hike by 50 bp
The Reserve Bank of Australia meets on Tuesday and is expected to deliver a third straight hike of 0.50%.
01-08-2022 09:37 GMT
by Kenneth Fisher
The euro is in positive territory today extending the gains seen on Monday. In the European session, EUR/USD is trading at 1.0262, up 0.35% on the day.
German manufacturing declines
The data out of the eurozone was none too encouraging today, but the euro shrugged off the numbers.
01-08-2022 05:46 GMT
by Kenneth Fisher
Last week was action-packed and it's not likely to ease up with attention now shifting from the Fed and the "technical recession" in the US to the labour market. Various officials have highlighted the strength of the labour market when explaining why the US isn't in a real recession which will draw increased scrutiny on Friday's jobs report.
29-07-2022 11:34 GMT
by Craig Erlam
The euro is in positive territory today and has pushed above the 1.0200 line. In the European session, EUR/USD is trading at 1.0213, up 0.16% on the day.
29-07-2022 08:00 GMT
by Kenneth Fisher
USD/JPY continues to fall as the Japanese yen rally continues. In the European session, USD/JPY is trading at 133.26, down 0.72%.
Yen rises after soft US GDP
Thursday's US GDP for Q1 was weaker than expected, as the -0.9% reading surprised the markets, which had projected a 0.5% gain.
29-07-2022 06:28 GMT
by Kenneth Fisher
Oil is surprisingly steady
Oil prices edged higher overnight as the volatility in currency, bond and equity markets passed it by; most of the oil-related data had already been released for the week. So, although the intraday ranges were as wide as ever, ultimately, oil booked only small gains.
29-07-2022 05:39 GMT
by Jeffrey Halley
USD/JPY slump dominates Asian trade
The US dollar selloff continued overnight after weak US GDP data saw it enter a technical recession. However, the US dollar's losses were unevenly distributed.
29-07-2022 05:19 GMT
by Jeffrey Halley
Wall Street rises after GDP decline
US GDP had a nasty surprise for everybody overnight, unexpectedly falling by 0.90%, when market expectations were for a modest 0.50% gain. That marked two consecutive negative quarters of US growth, meaning that for many economists, the US is now in a technical recession.
29-07-2022 04:50 GMT
by Jeffrey Halley
The yen has surged on Thursday. USD/JPY trades at 134.46, down 1.56% on the day.
Yen jumps on US GDP decline
The US dollar has lost ground against the majors, following a soft US GDP reading earlier.
28-07-2022 12:08 GMT
by Kenneth Fisher
The New Zealand dollar has pared gains which it made earlier in the North American session. NZD/USD is trading at 0.6266, up 0.02% on the day.
US GDP contracts for a second straight quarter
The US economy contracted in the second quarter by 0.9%, surprising the markets which had forecast a 0.5% gain.
28-07-2022 11:06 GMT
by Kenneth Fisher
US dollar sinks after FOMC rate hike
There were no surprises from the Federal Reserve, which delivered a second straight 0.75% hike on Wednesday. The markets had priced in this move, although it was a live meeting, as there was an outside chance of the Fed firing a massive 1.00% salvo in order to curb runaway inflation.
28-07-2022 06:58 GMT
by Kenneth Fisher
Oil rises once again overnight
Oil prices climbed once again overnight, boosted by a weaker US dollar and a large drawdown of crude and gasoline stocks in the overnight official US Crude Inventory data. The inventory data was a surprise, and in combination with tumbling Russian natural gas supplies to Europe, it seems the reality that the physical market is as tight as ever is boosting prices.
Brent crude rose 2.45% overnight to USD 107.15 a barrel.
28-07-2022 04:48 GMT
by Jeffrey Halley
Dollar falls on Powell's rate remarks
Jerome Powell’s remarks around rate hikes being driven by data sparked a sentiment rally overnight, as markets priced in peak inflation and interest rates. With equities rallying hard, the haven US dollar resumed its downward correction, being sold heavily versus the G-10 space.
28-07-2022 04:42 GMT
by Jeffrey Halley
You had the feeling that Wall Street, with perpetually itchy buy-button trigger fingers, was primed for this FOMC. As expected, the FOMC raised the Fed Funds target by 0.75%, to a target range of 2.25%-2.50%.
28-07-2022 04:24 GMT
by Jeffrey Halley
US stocks extended gains after the Fed signaled that it will likely be appropriate to slow rate increases at some point. Now that traders see light at the end of the Fed tightening tunnel, the Nasdaq is starting to look like the cleanest dirty shirt in what looks like a 2023 recession bound economy.
27-07-2022 15:08 GMT
by Edward Moya
The euro has edged higher on Wednesday, after sliding over 1% yesterday. In the North American session, EUR/USD is trading at 1.0147, up 0.29% on the day.
All eyes on Federal Reserve
The markets are eagerly awaiting the FOMC decision later today.
27-07-2022 10:03 GMT
by Kenneth Fisher