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USD/CHF - Swissie yawns as SNB hikes by 50 basis points

The Swiss franc continues to rally and is trading in North America at 0.9139, down 0.37%. USD/CHF has fallen some 200 points in just one week. SNB goes for oversize hike The Swiss National Bank raised rates by 50 basis points today, bringing the cash rate to 1.50%.

23-03-2023 11:15 GMT by Kenneth Fisher

US Open: Stocks rebound, Jobless Claims decline again, Block tumbles, BOE/SNB/Norges all hike, Turkey holds, Tesla rallies, Oil higher, Gold recaptures $2000, Bitcoin faces massive resistance at $30k

US stocks are rising as Wall Street digests what might be the Fed’s last rate hike and Secretary Yellen’s comment on blanket deposit insurance. The post-Fed selloff came from Yellen’s comment that they haven’t looked at backing all bank deposits with FDIC insurance. This was bad news for the banks and contagion fears. Yellen’s comment at a Senate panel hearing should be taken with a grain of salt given a decision to back all deposits would need congressional support. Optimism should remain th

23-03-2023 10:36 GMT by Edward Moya

GBP/USD edges higher ahead of Bank of England decision

The British pound has edged upwards and is trading at 1.2296 in the European session, up 0.25%. Earlier, GBP/USD climbed as high as 1.2343, its highest level since February 2. BoE expected to deliver 25 bp hike The Bank of England is in the spotlight today but like the Fed meeting, there isn't any drama surrounding the decision.

23-03-2023 07:05 GMT by Kenneth Fisher

A dovish shift from the Fed

Equity markets in Europe opened a little lower on Thursday following a very mixed session in Asia and some heavy selling on the other side of the pond on Wednesday. While investors have been relieved that this week has brought no new instability in the banking sector (yet), they are a little concerned by what they heard from the Fed and Treasury Secretary Janet Yellen yesterday. The central bank hiked interest rates by 25 basis points, in line with expectations, but the language that accompanied

23-03-2023 05:16 GMT by Craig Erlam

Oil dips lower, gold gets boost from dovish Fed

Signs of permanent damage in oil? Oil prices are a little lower today after gradually recovering in recent days. While no one can say with confidence that a banking crisis has been averted, there is growing confidence that the actions taken by central banks, regulators, and governments have significantly reduced the odds of one, particularly a severe scenario, and that is ultimately good for the economy and crude demand. So while we saw Brent and WTI plunge to late-2021 levels amid the panic of

23-03-2023 05:10 GMT by Craig Erlam

US Close - Fed’s dovish hike trumped by Yellen not considering broad increase in deposit insurance, Oil rallies, Gold gets groove back, Bitcoin softens

Wall Street’s initial take on the Fed was that they delivered a dovish hike and that banking turmoil will finish the job of bringing inflation back to target. Fed Chair Powell started the press conference by noting that the banking system is sound, but Treasury Secretary Yellen put a wrench in that idea. Yellen noted that regulators are not considering a broad increase in deposit insurance. Yellen said she is not considering a broad increase in deposit insurance despite all the discussion aro

22-03-2023 17:07 GMT by Edward Moya

Market Insights Podcast (Episode 447)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They preview the FOMC and BOE rate decisions, discussed the market reaction to a hot UK inflation report, recap the wild moves with gold, and talk cryptos.

22-03-2023 12:57 GMT by Edward Moya

AUD/USD gains ground, all eyes on Federal Reserve

The Australian dollar is in positive territory on Wednesday, ahead of the Federal Reserve's rate announcement. In the European session, AUD/USD is trading at 0.6681, up 0.16%. Fed expected to deliver 25 bp hike The Federal Reserve winds up its policy meeting later today and anything other than a 25 basis point hike would be a massive surprise.

22-03-2023 09:30 GMT by Kenneth Fisher

GBP/USD higher despite rise in inflation, BoE decision looms

The British pound is in positive territory on Tuesday. In the European session, GBP/USD is trading at 1.2277, up 0.50%. UK inflation accelerates For Bank of England policy makers, the "how not to start the day" manual likely included inflation climbing higher.

22-03-2023 06:10 GMT by Kenneth Fisher

Recovery rally pauses ahead of the Fed

Equity markets are treading water this morning ahead of the Fed rate decision and following a decent rebound a day earlier. It very much feels like we're just taking one day at a time at the minute. Every day that passes without drama is one closer to the point at which we can put the mini-banking crisis behind us.

22-03-2023 04:45 GMT by Craig Erlam

Oil prices fall, gold awaits Fed decision

Stalled recovery Oil prices are slipping again today after recovering strongly from the lows over the last couple of days. There's still a lot of lost ground to make up which may highlight the apprehension behind the recovery as well as the potential longer-term consequences for the economy. Time will tell how significant an impact that will have but the fact that we're already seeing profit-taking isn't a great signal.

22-03-2023 04:40 GMT by Craig Erlam

US Close: Fed expected to hike one more time, Yellen calms markets, Oil rebounds, Gold hit by profit-taking, Bitcoin awaits Fed

US stocks are higher as officials signal they will do whatever it takes to protect the banking system. Treasury Secretary Yellen’s comments at the American Bankers Association conference sparked today’s risk-on mood.

21-03-2023 15:52 GMT by Edward Moya

Canadian dollar shrugs as inflation falls

The Canadian dollar is slightly lower on Tuesday. In the North American session, USD/CAD is trading at 1.3687, up 0.17%. Canada's CPI continues to ease Canada's headline inflation fell to 5.2% y/y in February, down from 5.9% y/y in January and beating the consensus estimate of 5.4%.

21-03-2023 10:46 GMT by Kenneth Fisher

Oil rises, gold pulls back as markets jitters ease

Will economic fears fully abate? Oil prices are rising again on Tuesday, adding to Monday's recovery to trade more than 6% from the lows. Brent fell close to $70 yesterday, the lowest level since late-2021 is a sign of how much the banking crisis has reverberated throughout the markets.

21-03-2023 10:07 GMT by Craig Erlam

USD/CHF - Swiss franc climbs higher, SNB meeting eyed

The Swiss franc is showing some strength on Tuesday. In the European session, USD/CHF is trading at 0.9238, down 0.58%. SNB expected to hike but by how much? The turmoil which has roiled the financial markets over the past week has eased today.

21-03-2023 09:01 GMT by Kenneth Fisher

EUR/USD - euro extends rally, market turmoil eases

The euro has put together a 3-day rally and is up again on Tuesday. In the European session, EUR/USD is trading quietly at 1.0756, up 0.30%. Financial markets settle down Let's start with some good news.

21-03-2023 06:51 GMT by Kenneth Fisher

Market Insights Podcast (Episode 446)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed the UBS take over of Credit Suisse, preview the FOMC decision, and talk cryptos.

20-03-2023 14:52 GMT by Edward Moya

USD/JPY - Yen steady as markets remain jittery

The Japanese yen has started the trading week quietly. In the North American session, USD/JPY is trading at 131.67, down 0.14%. The markets are coming off a week of turmoil, as the banking crisis threatens to spread.

20-03-2023 13:30 GMT by Kenneth Fisher

Another hugely important weekend

It's been another lively start to the week following a busy weekend in which Swiss authorities have been working tirelessly to complete the sale of Credit Suisse and avoid further fallout on the open. So far it looks as though those efforts have not been in vain, along with those of a selection of major central banks to ensure access to dollar funding continues. This is now the second weekend that central banks, governments, and regulators have spent putting out fires, and, while markets are rec

20-03-2023 13:06 GMT by Craig Erlam

Oil gets support, gold breaks $2000

Oil seeing some support The sell-off in oil markets appears to be running into support following the near-20% decline over the last couple of weeks. Traders have been forced to reassess the outlook for the global economy in light of recent issues in the banking sector and it would appear they're no longer so optimistic. That may of course change as things settle down, assuming they do in the short term, but for now, they're taking a far more cautious stance.

20-03-2023 13:00 GMT by Craig Erlam

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