Forex: all news & analysis

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Market Insights Podcast (Episode 317)

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 discuss how financial markets reacted to the Fed Minutes, what happened in the oil markets, and discussed cryptocurrencies. They also discuss what the week ahead has in store for financial markets.

07-04-2022 15:05 GMT by Edward Moya

NZ dollar falls as FOMC talks tough

The New Zealand dollar has extended its losses on Thursday and dropped below the 69 line. In the North American session, NZD/USD is trading at 0.6887, down 0.42% on the day. Fed puts 0.50% hikes on the table The hawkishness of the FOMC minutes was not a surprise, given that the markets had heard this from Fed members George and Brainard a day earlier.

07-04-2022 13:06 GMT by Kenneth Fisher

AUD falls as trade balance shrinks

The Australian dollar has extended its losses and has fallen below the symbolic 75 line. In the North American session, AUD/USD is trading at 0.7475, down 0.45% on the day. Central bank announcements have been sending the Australian dollar up and down this week like a yo-yo.

07-04-2022 09:55 GMT by Kenneth Fisher

Euro edges lower on French nerves

The euro is down slightly on Thursday and remains under pressure. EUR/USD hasn't posted a winning session in the month of April and fell to 1.0874 yesterday, which was a one-month low.

07-04-2022 05:02 GMT by Kenneth Fisher

Oil slips on SPR, gold stays sideways

Oil prices fall on IEA release Oil prices dipped overnight after the IEA announced a globally coordinated reserve release of 120 million barrels, which is actually a net 60 million release when the US contribution is stripped out. Brent crude and WTI fell by over 4.0% overnight, assisted by higher than expected US Crude Inventories, to USD 101.70 and USD 96.40 respectively. With the IEA release and the US SPR releases now priced in, Asia has walked in and bought the dips in both contracts t

07-04-2022 03:59 GMT by Jeffrey Halley

Fed's tightening grip unnerves equities

Fed to accelerate balance sheet reduction The FOMC minutes were released overnight and signalled a faster pace of balance sheet runoff then on previous occasions, targeting USD 95 billion per month from September, easing into the process from next month. The minutes also suggested that some 50 bp Fed Funds hikes were on the cards and expect that to happen from next month.

07-04-2022 02:19 GMT by Jeffrey Halley

Canada dollar as Ivey PMI jumps

The Canadian dollar is steady today, trading at the 1.25 line. Canada's Ivey PMI for March was up sharply, rising from 60.6 to 74.2. This crushed the consensus estimate of 60.0, the highest level in more than 11 years.

06-04-2022 12:35 GMT by Kenneth Fisher

Euro stops nasty slide

The euro is flat on Wednesday, putting the brakes on a nasty four-day slide. EUR/USD dipped below the 1.09 line in the Asian session before recovering. ECB's Panetta warns about stagflation Inflation has been skyrocketing in the US and UK, giving the Fed and BoE plenty of sleepless nights.

06-04-2022 10:40 GMT by Kenneth Fisher

Aussie takes a breath after wild ride

The Australian dollar is drifting on Wednesday, after taking quite the ride a day earlier, courtesy of the RBA rate decision. RBA hawkishness sends Aussie soaring AUD/USD rocketed some 200 points at one stage on Tuesday, in response to the RBA rate statement at its policy meeting. The Bank held rates at an ultra-low 0.10%, where they have been pegged since November 2020.

06-04-2022 06:58 GMT by Kenneth Fisher

Oil edges higher, gold range trades

Oil prices are steady Oil prices eased overnight in the face of a stronger US dollar, a slow news ticker from Eastern Europe, and continuing concerns over China’s growth as the Shanghai lockdown continued. Brent crude fell by 2.15% to USD 104.60 a barrel, with WTI falling 2.45% to USD 101.15 a barrel.

06-04-2022 04:26 GMT by Jeffrey Halley

Higher US yields lift the dollar

Brainard's hawkish comments buoy the US dollar The US dollar rose overnight as US long-dated yields spiked higher after very hawkish comments from the Fed’s Brainard, previously one of its most dovish officials. A robust ISM Non-Manufacturing PMI and ISM Non-Manufacturing employment, new orders and business activity served as an additional tailwind.

06-04-2022 04:14 GMT by Jeffrey Halley

Left Brainard, right Brainard

Brainard talks hawkish The overnight session was dominated by comments from Fed Governor Lael Brainard, who set the cat amongst the pigeons of the equity and bond markets with some very hawkish comments. Ms Brainard suggested that a reduction of the Federal Reserve’s balance sheet, so-called quantitative tightening, could begin as early as next month and at a much faster pace than previous efforts.

06-04-2022 03:43 GMT by Jeffrey Halley

NZ dollar hits 15-week high

The New Zealand dollar continues to rally and is up 0.82% this week. Earlier in the day, NZD/USD punched above the symbolic 70 line and rose to 0.7034, its highest level since November 2021, before retreating lower. US Services PMI accelerates The US Services PMI for March pointed to continuing expansion, with a reading of 58.3.

05-04-2022 12:15 GMT by Kenneth Fisher

Japanese yen dips, wage growth falls

USD/JPY was sailing in calm waters on Tuesday but has gained ground in the North American session. The yen is trading at 123.25, up 0.40% on the day. Kuroda talks tough about the yen Similar to what we saw last week, Japanese officials were talking about the yen, expressing concern about currency movements.

05-04-2022 10:34 GMT by Kenneth Fisher

Aussie rockets as RBA hints at hike

The Australian dollar is turning heads, as AUD/USD has jumped a massive 1.27% today. In the European session, the Australian dollar hit 0.7639, its highest level since June 2021. RBA says audieu to 'patience' If I had to pick a word that encompassed RBA Governor Lowe's monetary stance, it would be 'patience'.

05-04-2022 09:23 GMT by Kenneth Fisher

Oil rises on sanctions talk, gold steady

Oil prices higher on European sanctions fears Oil prices started rallying in Asia yesterday after Europe indicated tighter sanctions on Russia. Fears mounting that Europe would finally target the Russian energy sector, further squeezing supplies.

05-04-2022 04:15 GMT by Jeffrey Halley

Asia shuffles sideways

Holidays in mainland China and Hong Kong are muting activity once again in Asia, which looks content to watch this session from the sidelines. Overnight, Elon Musk stole the headlines, announcing with a swipe of his debit card, the purchase of a 9.20% stake in Twitter worth USD 2.90 billion.

05-04-2022 03:35 GMT by Jeffrey Halley

AUD/USD - Building breakout momentum?

Can it take the next step? The Aussie dollar has performed well against the greenback since early February and while it appeared to have lost some momentum recently, it may have rediscovered that today. The pair ran into resistance around the late-October highs last week and has been in consolidation since but as you can see today, it's spiked higher and the MACD and stochastic on the 4-hour chart suggest there's some momentum behind the move. The fact that we never saw much of a pullback f

04-04-2022 12:41 GMT by Craig Erlam

Yen takes a pause after busy week

The Japanese yen has started the week with slight gains, as USD/JPY is trading at 122.75 in the North American session. It was a rollercoaster week for the yen, which showed strong volatility throughout the week. USD/JPY posted considerable gains on Friday, as the US/Japan rate differential widened on Friday and pushed the yen briefly above the 123 line.

04-04-2022 10:09 GMT by Kenneth Fisher

AUD calm ahead of RBA decision

The Australian dollar has posted slight gains at the start of the week, as AUD/USD trades just above the 0.75 level. Looking back at March, it was an excellent month for the Australian dollar. The currency rose 3.02%, its best month since October 2021.

04-04-2022 08:51 GMT by Kenneth Fisher

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