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China equities bulls in need of fresh liquidity

China’s benchmark stock indices have underperformed against the rest of the world. Weak macro data and geopolitical risk have reinforced the recent bout of weakness. China’s central bank, PBoC may be forced to undertake more proactive accommodative policies. In the past week, the performances of the benchmark China stock indices and its proxies have underperformed the rest of the world. In terms of week-to-date returns at this time of the writing, the CSI 300 and China A50 have recorded losses

12-05-2023 02:25 GMT by Kelvin Wong

GBP/USD - BoE hikes rates and raises forecasts

OANDA Senior Market Analyst discusses GBPUSD in light of the Bank of England interest rate decision and US inflation data.

11-05-2023 18:57 GMT by Craig Erlam

Oil pops after US signals SPR refill could begin in June

Oil pares losses after Energy Secretary Granholm says oil purchases for SPR could begin in June Gold lower on stronger dollar Crypto struggles as Wall Street prepares for market stress from debt ceiling drama Oil Oil were heavy after another round of Chinese data, this time money metrics, confirmed their economic reopening from COVID continues to disappoint. Energy traders are somewhat shrugging off the latest OPEC monthly report that contained a slight upgrade with Chinese oil demand. China

11-05-2023 15:35 GMT by Edward Moya

Stocks mostly drop as banking jitters and on growth concerns

Wall Street focuses on banking deposits as PacWest struggles, while Western Alliance outperforms Inflation data continues to support higher for a little longer; market still pricing in rate cuts within a few policy meetings Debt Ceiling Angst expected to eventually trigger market stress US stocks are lower after some not so magical results from Disney, banking jitters returned, and recession angst grows. Another round of US data supported calls for the Fed to keep rates on hold.

11-05-2023 15:25 GMT by Edward Moya

BoE more optimistic on the economy after raising rates by 0.25%

The Bank of England hiked interest rates by another 25 basis points today, taking the base rate to 4.5% while making significant tweaks to their economic forecasts. The MPC is now of the belief that the economy will avoid recession this year and significantly revised up its GDP forecast, albeit to mild growth. What's more, its forecast for inflation was also much higher which may indicate it will have to go further and hold for longer in order to get back to target.

11-05-2023 13:42 GMT by Craig Erlam

Oil edges lower, no boost for gold from inflation report

How long will OPEC+ tolerate these oil prices? Oil prices are slipping a little again on Thursday after running into resistance around the December to March lows earlier in the week. This is similar to what we were seeing prior to the OPEC+ intervention last month and with a little under a month to go until the next, we may see it settle below that range. Whether the group will tolerate these levels is another thing, especially if we see the lows around $70 in Brent tested again.

11-05-2023 13:39 GMT by Craig Erlam

Swiss franc falls despite SNB Jordan's hawkish message

SNB's Jordan says cannot exclude further hikes US PPI dips, unemployment claims jump The Swiss franc has fallen considerably on Thursday. In the North American session, USD/CHF is trading at 0.8950, up 0.59% on the day. SNB head Jordan says more tightening possible Swiss National Bank President Jordan reiterated a hawkish message on Wednesday that he sent out a week ago.

11-05-2023 11:00 GMT by Kenneth Fisher

Podcast - US inflation falls faster than expected, BoE to hike interest rates

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart and Trader Nick. They discussed the latest US CPI release and its impact on the markets and preview the BoE rate decision.

11-05-2023 07:52 GMT by Craig Erlam

NZD/USD lower ahead of inflation expectations

New Zealand releases inflation expectations Markets react positively to US inflation report NZD/USD is trading at 0.6342, down 0.38% on the day. New Zealand Inflation Expectations eyed The Reserve Bank of New Zealand will be keeping a close eye on inflation expectations release early on Friday. Inflation expectations eased to 3.3% in Q1, down from 3.62% and the central bank will be hoping that the downswing continues.

11-05-2023 07:04 GMT by Kenneth Fisher

GBP/USD edges lower ahead of BoE meeting

BoE likely to raise rates by 25 bp US to release PPI and unemployment claims later today GBP/USD is trading at 1.2587 in Europe, down 0.30% on the day. BoE expected to raise rates by 25 bp The Bank of England is expected to raise rates today for a 12th consecutive time, with a 25-basis point hike. This would bring the benchmark cash rate to 4.50%.

11-05-2023 05:48 GMT by Kenneth Fisher

EUR/GBP Technical: Minor downtrend intact

EUR/GBP is still evolving within a major sideways range since August 2017 with its key resistance and support at 0.9300 and 0.8300. A minor downtrend phase has started to develop from its 3 February 2023 high of 0.8979. Short-term downside momentum remains intact below 0.8750 key short-term resistance. Since the start of this week, the EUR/GBP cross pair has continued its drop by 0.9% to print its current intraweek low of 0.8671 where market participants anticipant that the Bank of England (BoE

11-05-2023 05:19 GMT by Kelvin Wong

Pound swings after US inflation ticks lower

US inflation ticks lower to 4.9% BoE expected to raise rates by 25 bp on Thursday US inflation dips lower The US inflation report for April showed a very small decline. Headline CPI ticked lower to 4.9%, down from 5.0% in March and the consensus estimate of 5.0%. The core rate eased to 5.5%, matching the consensus estimate and a drop below the March reading of 5.6%.

10-05-2023 11:36 GMT by Kenneth Fisher

Investors cautious ahead of key US inflation release

The US inflation report remains front of mind today and we're seeing that reflected in early cautious trading in Europe, with US futures also marginally lower ahead of the open. The fear is that inflation remains more stubborn than the Fed is willing to tolerate in the near term alongside a labour market that is still hot, despite small signs of cracks appearing. The central bank has made it perfectly clear that returning inflation to target over the medium term remains the primary goal whatever

10-05-2023 08:08 GMT by Craig Erlam

Oil slips, CPI could make or break gold

Oil slips after retracing back to previous trend lows Oil prices are slipping on Wednesday after partially recovering over the last four days. Crude ran into resistance around the bottom of the December-March range lows which suggests, for now at least, traders are not of the view that OPEC+ output cuts fully offset the difficulties that lie ahead for the global economy which will ultimately weigh on demand. Further action by the cartel or calmer conditions in US banks could see oil prices bounc

10-05-2023 08:08 GMT by Craig Erlam

Australian dollar steady as US inflation falls to 4.9%

US inflation ticks lower to 4.9% Australia releases inflation expectations later today US inflation dips lower The US inflation report for April showed a drop in CPI, but the decline was marginal. Headline CPI ticked lower to 4.9%, down from 5.0% in March and the consensus estimate of 5.0%. The core rate eased to 5.5%, matching the consensus estimate and a drop below the March reading of 5.6%.

10-05-2023 07:33 GMT by Kenneth Fisher

Will US CPI shake up sleepy yen?

US inflation expected to remain at 5.0% BoJ to release Summary of Opinions USD/JPY continues to have a quiet week and is almost unchanged, trading at 135.20. Investors eye BoJ Summary of Opinions The markets will be keeping a close eye on the Bank of Japan's Summary of Opinions, which will be released later today. The summaries rarely move the dial on the yen, but this summary could be different, as it covers the April meeting which was the first chaired by Governor Kazuo Ueda.

10-05-2023 06:29 GMT by Kenneth Fisher

Gold Technical: Bounced higher from key short-term support

Gold (XAU/USD) is holding above 2,000 key support ahead of US CPI. Short-term uptrend phase from the 19 April 2023 low remains intact. Next intermediate resistance at 2,075; its current all-time high. In our previous article “Gold has not lost its glitter”, we have highlighted the key macro factors that may have a significant influence in driving the fundamentals and price actions behaviour of Gold (XAU/USD), click here for a recap. Right now, let’s decipher its latest developments through the

10-05-2023 03:44 GMT by Kelvin Wong

Oil gets bullish alongside gold, Bitcoin wavers

Russia claims to come close to delivering on oil cut pledge in April Gold gets groove back as debt ceiling worries simmer Bitcoin hovers near bottom of recent trading range Oil Crude prices went on a rollercoaster ride as energy traders watched a deteriorating demand outlook get countered by some bullish supply news from both the Biden administration and Russia. Oil was lower after disappointing trade from China supported concerns their recovery post-Covid lockdowns continues to disappoint. WT

09-05-2023 15:23 GMT by Edward Moya

Waiting Game: Debt Ceiling Drama to resume, Inflation in focus

Dollar slightly stronger ahead of President Biden's pivotal meeting with congressional leaders NFIB report shows sentiment plunges to weakest levels in a decade Wall Street is hoping lawmakers won't have to resort to a short-term debt limit extension US stocks are mostly lower ahead of what will be the start of a lengthy debt ceiling negotiations and ahead of inflation report that should shows the disinflation process is struggling. No one is expecting any meaningful progress with President Bi

09-05-2023 15:11 GMT by Edward Moya

Investors eye US inflation report on wednesday after disappointing jobs data

We're seeing a slightly softer trading session on Tuesday as investors eye crucial inflation data on Wednesday. We've finally reached the point at which the Federal Reserve may be at the end of its tightening cycle and we can start to look forward to when it can feasibly begin to ease policy in order to offset any shock to the economy. But in order for either of these to occur, we need to see evidence in the data that the Fed is on a path to 2% starting tomorrow. The FOMC will not hesitate to ra

09-05-2023 14:24 GMT by Craig Erlam

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