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Market Insights Podcast (Episode 337)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. With Jonny returning from a four day holiday to celebrate Her Majesty's platinum jubilee, it's time to look at the week ahead for financial markets. First of all, though, we glance back to the market reaction to last Friday's US Non-Farm Payrolls.

06-06-2022 02:48 GMT by Jeffrey Halley

Week Ahead - ECB to set up a July hike and US inflation nears peak

A strong nonfarm payroll report means that the Fed won’t be pausing their interest rate hiking campaign anytime soon. The May employment report was impressive, but it will likely be the last strong one we will see in a while.

03-06-2022 14:11 GMT by Edward Moya

Aussie slips after strong NFP report

The Australian dollar has reversed directions on Friday. AUD/USD is trading at 0.7225, down 0.55% on the day. US nonfarm payrolls are traditionally the highlight of the week, but the Ukraine war, spiralling inflation and surging oil prices have taken up much of the market's attention.

03-06-2022 09:00 GMT by Kenneth Fisher

Oil rebounds, gold rises

Oil stages spectacular reversal higher A disappointing outcome from the OPEC+ meeting (for consumer nations), saw oil’s selloff in Asia yesterday completely reversed plus interest. Markets were disappointed when OPEC+ only agreed to hike production to 650,000 bpd for the next two months, instead of more structural increases from OPEC to cover the Russian shortfall.

03-06-2022 04:23 GMT by Jeffrey Halley

US dollar loses all of its previous gains

US dollar eyes nonfarm payrolls There was a wax on, wax off feel to currency markets overnight. Soft ADP Employment data spurring a risk-on rally across asset classes as the Fed hiking outlook was tempered.

03-06-2022 04:16 GMT by Jeffrey Halley

Dude, where’s my oil?

OPEC+ agrees to increase output The most anticipated OPEC+ meeting of the year turned out to be a damp squib in the end. OPEC+ agreed to increase output in July and August to 648,000 bpd from the previously agreed 432,000 bpd, with the increased allocation spread across all its members, including, you guessed it, Russia.

03-06-2022 03:56 GMT by Jeffrey Halley

Euro rebounds on PMIs

The euro has posted gains and pushed above the 1.07 line on Thursday. In the North American session, EUR/USD is trading at 1.0702, up 0.48% on the day. Eurozone grapples with high inflation, low growth German and European Manufacturing PMIs were within expectations, pointing to continued expansion.

02-06-2022 09:45 GMT by Kenneth Fisher

Australian dollar higher on solid data

The Australian dollar is showing some jump. AUD/USD has punched above the 0.72 level today and has posted gains of 0.59%, as it trades close to 1-month highs. Australian releases were positive, giving the Aussie a strong boost.

02-06-2022 08:54 GMT by Kenneth Fisher

Swiss franc rises on higher inflation

The Swiss franc is slightly higher on Thursday. USD/CHF is trading at 0.9596, down 0.39% on the day. Those of us who think "staid and steady" when the Swiss franc comes to mind will be forgiven for not recognizing the currency lately.

02-06-2022 07:07 GMT by Kenneth Fisher

Oil slides on OPEC+ report, gold steady

Oil sinks in Asia on FT/OPEC+ story Oil prices have fallen in Asia today after the Financial Times ran a story that Saudi Arabia has indicated to western allies that it could raise oil production if Russian output fell substantially. Overnight, oil gave back all its gains after a WSJ story released yesterday morning suggested that OPEC+ might exempt Russia from its production quotas. Taken in totality, today's OPEC+ meeting is assuming far greater importance for global markets than the US Non-Fa

02-06-2022 04:59 GMT by Jeffrey Halley

US dollar soars versus euro and sterling

US dollar rises on strong data, Fed expectations The dollar index leapt higher overnight, thanks in part to the heavy weighting of the euro and yen in it, which slumped against the greenback. Robust US data and an ensuing extinguishing of hopes that the Fed would need to ease hiking expectations were behind the US dollar rally.

02-06-2022 04:49 GMT by Jeffrey Halley

Asia markets follows the leader

Asian equity markets dip Asian equity markets are lower today as a thin data calendar and slow news ticker leave them content to produce another follow-the-leader session, coat-tailing the direction of overnight US markets. Robust US data overnight reinforced Fed hiking expectations which saw US equities fall once again.

02-06-2022 04:06 GMT by Jeffrey Halley

What’s the good oil?

Oil slides on OPEC+ report Oil markets are on the move this morning, with oil prices dipping by 2.0% in early trading after the Financial Times reported that Saudi Arabia has indicated to western allies it could raise production to cover any substantial fall in Russian production. That follows on from my comments yesterday that this week's OPEC+ meeting later today could be a pivotal one if Russia is given an exemption from its production quotas, which would allow the two main swing producers, S

02-06-2022 03:54 GMT by Jeffrey Halley

Dollar pushes wobbly yen to 130

The Japanese yen continues to lose ground, as USD/JPY has punched above the symbolic 130 line. In the North American session, USD/JPY is trading at 130.01 up 1.02% on the day. The US dollar is having its way with the yen this week as USD/JPY has surged 2.23%.

01-06-2022 12:34 GMT by Kenneth Fisher

BoC hikes by 0.50%, Canadian dollar yawns

The Canadian dollar is almost unchanged in Wednesday trading. The loonie has reeled off five consecutive winning sessions and is trading at a 5-week high. BoC delivers a 50-bps hike As expected, the BoC raised the benchmark rate 50-bps at today's meeting, bringing the rate to 1.5%.

01-06-2022 10:40 GMT by Kenneth Fisher

Australian dollar edges up, GDP looms

The Australian dollar is in calm waters this week, as AUD/USD trades quietly just below the 0.73 level. GDP slows to 0.8% Australia's Q1 GDP slowed to 0.8% QoQ, after a massive 3.6% QoQ gain in Q4 of 2021. Investors were braced for a softer release after the impressive Q4 surge, and the Q1 reading actually outperformed, beating the estimate of 0.5%.

01-06-2022 07:09 GMT by Kenneth Fisher

Oil prices fall, gold under pressure

OPEC+ rumours sink crude prices The announcement of the partial EU ban on Russian crude imports was a mild tailwind yesterday, but by and large, looked to have been already priced into markets. What did surprise markets was a Wall Street Journal article suggesting that OPEC might exempt Russia from the production quota agreement at tomorrow’s OPEC+ meeting.

01-06-2022 03:45 GMT by Jeffrey Halley

Higher US yields lift US dollar

Dollar gains ground against majors Currency markets continued to trade in a choppy, but ultimately consolidative range overnight and this morning. Higher US yields overnight allowed the US dollar to be ascendant, the dollar index rising 0.48% to 101.78, having probed above 102.00 intraday.

01-06-2022 03:32 GMT by Jeffrey Halley

Asian markets are mostly lower

Soft PMIs sends Asian equities lower Weakening Manufacturing PMI data from across the Asia-Pacific, combined with a low close on Wall Street, sees most of Asia trading in the red today, ignoring the bounce in US index futures this morning. Overnight, a rise in US yields saw the S&P 500 finish 0.63% lower, the Nasdaq lost 0.41%, with the Dow Jones easing by 0.57%.

01-06-2022 03:26 GMT by Jeffrey Halley

Oil climbs, gold in choppy waters

Oil jumps again amid Shanghai reopening The price of a barrel of Brent crude hit USD 120 earlier in the day on the back of the EU deal, as well as the continued reopening of Shanghai and the better than expected Chinese PMIs. The gradual phasing in of the deal along with the exemptions included prevented the price from rising much higher but ultimately it further tightens a market that's already undersupplied. The reopenings in China are another major bullish factor for crude prices, for obvio

31-05-2022 16:11 GMT by Craig Erlam

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