NZD/USD is in negative territory today, after three days of slight gains. In the European session, NZD/USD is trading at 0.5622, down 0.33%.
14-10-2022 07:58 GMT
by Kenneth Fisher
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GBP/USD has reversed directions today and is in negative territory. In the European session, GBP/USD is trading at 1.1274, down 0.34%.
Pound jumps on tax cut U-turn
The pound continues to show strong volatility and jumped 2% on Thursday.
14-10-2022 07:02 GMT
by Kenneth Fisher
USD/JPY continues to move edge higher and is up 1.6% this week. In the European session, USD/JPY is trading at 147.67, up 0.25%.
The Japanese yen is once again on a downswing, after hugging the key 145 line.
14-10-2022 05:12 GMT
by Kenneth Fisher
Oil steadying
Oil prices are steadying again after a three-day decline that's coincided with further concerns around the economic outlook and gloomy forecasts. The output cut from OPEC+ last week triggered a surge in prices but that has partially been offset by the increasingly dire forecasts for the economy which will naturally weigh on demand.
13-10-2022 08:32 GMT
by Craig Erlam
More u-turns incoming?
Equity markets in Europe are marginally higher as bond market concerns ease and we await the latest inflation data from the US.
The Bank of England bond market intervention deadline is looming which in recent days has made investors very nervous about a potential sequel to the mini-budget doom loop that forced the central bank to respond initially. Those fears have eased slightly after the BoE made its biggest emergency purchase so far on Wednesday, totalling more than £
13-10-2022 08:32 GMT
by Craig Erlam
Edging higher but growth concerns remain
Oil prices are nudging higher after paring recent gains so far this week. There are two dominant forces in the oil market at the moment; the economic outlook being the primary downside risk and OPEC+ the upside.
12-10-2022 09:55 GMT
by Craig Erlam
Tech stocks are hovering near 2-year lows on bond market chaos and expectations for a gloomy earnings season. Investors are nervous after this week's inflation data, Fed tightening calls will demand for more aggressive hikes beyond November and that we could be seeing another major round of selling. The IMF slashed their global growth outlook and warned that the ‘worst is yet to come’.
11-10-2022 09:54 GMT
by Edward Moya
AUD/USD continues to lose ground and can't find its footing. The Aussie started the week on the wrong foot, with a decline of 1.0% on Monday.
11-10-2022 05:45 GMT
by Kenneth Fisher
GBP/USD is trading quietly for a second straight day. In the North European session, GBP/USD is trading at 1.1035, down 0.18%.
The pound has not posted a winning day since October 12th and has lost 400 points during that time.
11-10-2022 04:39 GMT
by Kenneth Fisher
European stock markets are poised for another weak open as much of Asia reopened on Tuesday to large declines.
Asia is flashing red as it nears the close and Europe may be facing a similarly bleak day. JP Morgan CEO Jamie Dimon didn't hold back in his assessment of the economic outlook, adding to the warnings of the IMF and World Bank, among many others.
11-10-2022 03:20 GMT
by Craig Erlam
Oil eases amid more recession warnings
Oil prices are paring recent gains for the second day as the IMF and World Bank warn of an increased risk of a global recession. Those warnings won't come as an enormous surprise given the immense economic headwinds as a result of the pandemic and Russia's invasion of Ukraine, not to mention the baffling decision by OPEC+ last week to cut output by two million barrels per day which will only add to them.
Oil prices rose around 20% from their September lows
11-10-2022 03:16 GMT
by Craig Erlam
Oil higher despite weak Chinese PMI
Oil prices are continuing to edge higher at the start of the week, albeit at a much slower pace with Brent now not far from $100 a barrel. OPEC+ may be comfortable with that after slashing output targets by two million barrels per day but I'm not sure anyone else will be.
The Chinese PMI data overnight highlighted the challenges facing the world's largest crude importer as it tries to balance its zero-Covid policy with economic growth.
10-10-2022 12:56 GMT
by Craig Erlam
US stocks tumbled as job strength remains, which means we most likely won’t be seeing a Fed downshift at the next FOMC meeting in November. Treasury yields rose alongside the US dollar after another solid nonfarm payroll report.
The risks of the Fed remaining aggressive with the tightening of monetary policy still remains on the table.
07-10-2022 09:58 GMT
by Edward Moya
US
It is now all about inflation data. The focus was temporarily on the labour market but everyone knows that the Fed is primarily concerned with what is happening with inflation.
Wall Street will first get a look at producer prices on Wednesday and then CPI the next day. August data showed high inflation remains well-entrenched as shelter and food prices surged, while gas prices softened.
07-10-2022 09:55 GMT
by Craig Erlam
USD/CAD has edged higher today. In the North American session, the Canadian dollar is trading at 1.3712, down 0.25%.
Canada's Ivey PMI, a key barometer of the strength of the economy, underperformed in September.
07-10-2022 09:21 GMT
by Kenneth Fisher
EUR/USD is unchanged today after a nasty two-day slide, trading at 0.9792 in the European session. The euro flirted with the symbolic parity line on Wednesday, but then plunged 200 points.
German retail sales underperforms
Germany wrapped up the week with soft data, although the euro shrugged off the weak numbers.
07-10-2022 08:45 GMT
by Kenneth Fisher
USD/JPY has been hovering close to the 145 line most of the week, and the trend has continued today. In the European session, USD/JPY is trading at 144.81, down 0.21%.
The US releases nonfarm payrolls later today.
07-10-2022 04:29 GMT
by Kenneth Fisher
Equity markets are on course to spend a third day in the red despite a strong start to the week as investors adopt a cautious approach ahead of the US jobs report.
Amid all of the chaos this week, investors have always had one eye on the jobs report later today. Even earlier in the week when equity markets were rallying strongly, there was always a sense that the jobs report could spoil the party.
And not because it could point to cracks appearing in the labour market; quite the opposite in fact
07-10-2022 03:27 GMT
by Craig Erlam
OANDA Senior Market Analyst Craig Erlam discusses the recent recovery in gold and questions whether it will continue.
06-10-2022 16:15 GMT
by Craig Erlam
GBP/USD is down sharply today. In the North American session, GBP/USD is trading at 1.1150 down a massive 1.58%.
06-10-2022 10:40 GMT
by Kenneth Fisher