The US dollar continues to pummel the Japanese yen. USD/JPY pushed above the 117 line earlier today for the first time since January 2017.
11-03-2022 05:46 GMT
by Kenneth Fisher
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US dollar climbs on CPI, risk aversion
The US dollar rebounded sharply after 40-year highs in inflation data and as risk sentiment soured once again over Easter Europe and the news tickers remained quiet on OPEC+ increases. US long-dated yields resumed their climb, despite a well-bid 30-year auction overnight, providing more support to the greenback.
11-03-2022 04:07 GMT
by Jeffrey Halley
US stocks declined after both high-level talks did not produce a stop in fighting and as investors worry that war in Ukraine could lead to higher inflation for much longer. Today’s inflation report showed widespread pricing pressures before the full impact of the global shock from the Russian invasion of Ukraine. Energy costs, soft commodities, and metals will continue to see upward pressure and that will start to be sticky as wages soften.
10-03-2022 16:16 GMT
by Edward Moya
GBP/USD has reversed directions on Thursday, giving up most of the gains from a day earlier. In the North American, session, GBP/USD is trading at 1.3132, down 0.41% on the day.
US inflation accelerates to 7.9%
In the US, headline CPI continued to accelerate, with a gain of 7.9% for February YoY.
10-03-2022 11:03 GMT
by Kenneth Fisher
The Japanese yen continues to lose ground to the US dollar. USD/JPY has climbed above the 116 line for the first time since early February.
10-03-2022 09:54 GMT
by Kenneth Fisher
ECB maintains interest rates, reduces APP
The ECB held its key interest rate at 0.00% at today's meeting, as was expected. The central bank reduced purchases under the Asset Purchase Program (APP), which had been set in February at EUR 40 billion throughout the second quarter.
10-03-2022 07:53 GMT
by Kenneth Fisher
US dollar eases
In keeping with the price action in other asset classes, the US dollar staged a sharp retreat overnight on Ukrainian and energy hopes. The dollar index tumbled by 1.10% to 98.00, before creeping up with oil prices this morning to 98.13.
10-03-2022 05:42 GMT
by Jeffrey Halley
The British pound is in positive territory, as the US dollar has retreated against the major currencies for the first time in five days. GBP/USD is trading at 1.3169 in the North American session, up 0.52% on the day.
The US dollar has had its way with the pound in recent sessions, but GBP/USD has reversed directions today.
09-03-2022 11:36 GMT
by Kenneth Fisher
The euro has posted sharp gains and punched above the symbolic 1.10 level. In the North American session, EUR/USD is trading at 1.1031, up 1.24% on the day.
We continue to see significant volatility in the currency markets. The euro plunged 3.0% per cent last week but has reversed directions, as the US dollar has dropped against the major currencies today for the first time in five days.
09-03-2022 09:58 GMT
by Kenneth Fisher
The New Zealand dollar has posted strong gains on Wednesday. NZD/USD is trading at 0.6841 in the European session, up 0.55% on the day.
Manufacturing Sales surge in Q4
Manufacturing Sales were outstanding in the fourth quarter, with a gain of 12.0%. This marked an impressive rebound from the -2.3% reading in Q3.
09-03-2022 07:55 GMT
by Kenneth Fisher
The New Zealand dollar is trading lower on Tuesday, after starting the week with considerable losses. NZD/USD is trading just above the 0.68 line in the North American session.
Investors are keeping an eye on New Zealand Manufacturing Sales, which will be released later in the day.
08-03-2022 12:00 GMT
by Kenneth Fisher
The euro has been having a rough time of late and plunged 2.96% last week. EUR/USD started the week with more losses but finally found its feet today.
08-03-2022 10:11 GMT
by Kenneth Fisher
Risk aversion providing support to US dollar
The US dollar held onto most of yesterday’s early-session gains overnight, boosted by a rise in US yields in New York, as investors continue to pour haven flows into the greenback. The huge rallies in commodity prices are also supportive, with a large portion of that international trade priced in US dollars.
The dollar index finished 0.74% higher at 99.24 overnight, with some profit-taking pushing it slightly lower to 99.16 in Asia as the news ticke
08-03-2022 04:16 GMT
by Jeffrey Halley
The New Zealand dollar has started the week in negative territory. NZD/USD is down 0.50%, and is trading at 0.6825 in the North American session. The currency enjoyed its best week since August 2021, with gains of 1.75%.
07-03-2022 12:48 GMT
by Kenneth Fisher
Aussie rally ends
The Australian dollar has taken a breather, as it trades just slightly below the 0.74 line. AUD/USD has posted small losses on Monday, after posting impressive gains of 2% last week.
The war in Ukraine has dampened risk appetite, which in normal times would hurt the risk-sensitive Australian dollar.
07-03-2022 09:26 GMT
by Kenneth Fisher
The euro is coming off a nasty week and has continued its downswing on Monday. EUR/USD fell 3% last week and the pair has dropped 0.9% on Monday, to 1.0830.
07-03-2022 05:56 GMT
by Kenneth Fisher
US dollar rises on geopolitical/economic nerves
The US dollar rose into the end of the week on Friday as investors loaded up on weekend risk protection. Nothing has changed over the weekend to alter the need to hold US dollars; if anything, with the US seemingly about to ban Russian oil imports, and no good news from Ukraine, the situation has hardened.
The dollar index has risen by 0.57% this morning to 99.06, but the US dollar pain has been unevenly spread.
07-03-2022 04:27 GMT
by Jeffrey Halley
Oil surges on talk of banning Russian crude
Oil prices are 8.50% higher this morning in panicked early buying in futures markets after weekend reports that the US was looking at completely banning Russian oil imports, and the Russians themselves inserted some hefty last-minute demands on the US in the small print of the almost-finished Iran nuclear deal. With the latter in jeopardy, and the former sure to lead to higher domestic prices, it is no surprise that Asian traders, a region heavily rel
07-03-2022 03:57 GMT
by Jeffrey Halley
Sell-off accelerates in risk-averse trade
The decline in the EURUSD pair has really accelerated over the last week after the West imposed severe sanctions against Russia that will have implications for the global economy, in particular Europe.
Sanctions rarely work one way but they are designed to ensure the maximum and majority pain is imposed on the recipient country. Unfortunately for Europe, the recipient country is also an important trading partner and its main source of natural gas among
04-03-2022 15:18 GMT
by Craig Erlam
It's been another week of significant volatility in financial markets, one in which European indices edged closer to bear market territory, oil prices hit a 10-year high around $120, and safe-haven gold came close to $2,000.
04-03-2022 12:58 GMT
by Craig Erlam