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GBP/USD - Pound steady, inflation expectations ease

We have seen some strong movement from the British pound this week, which is not surprising given the turmoil which has gripped the financial markets in the wake of the US banking crisis. In the European session, GBP/USD is showing little movement and is trading at 1.2119. Big banks to the rescue Market mayhem has been the buzzword this week, as the financial markets were shaken by the collapse of Silicon Valley Bank (SVB) over the weekend.

17-03-2023 08:43 GMT by Kenneth Fisher

USD/JPY - Yen climbs to 1-mth high on market turmoil

The Japanese yen is in positive territory on Friday, trading at 133.02, up 0.56%. USD/JPY touched a one-month low on Thursday, falling as low as 131.72. How will BoJ react to the new wage agreement? The Kazuo Ueda era has begun at the Bank of Japan.

17-03-2023 06:26 GMT by Kenneth Fisher

EUR/USD - Euro heads higher as ECB delivers 50-bp hike

It has been a busy week for the euro, reflective of the gyrations we're seeing in the financial markets. EUR/USD has bounced back from a mid-week slide and is trading at 1.0661, up 0.46% on the day. ECB moves full steam ahead In the midst of market turmoil and fears of a full-blown financial crisis, the ECB held its rate meeting on Thursday and had everyone guessing about its intentions.

17-03-2023 05:20 GMT by Kenneth Fisher

US Close: Stocks rally as bank jitters ease, No surprises from Yellen, ECB hikes, Oil rebounds, profit-taking time for gold, Bitcoin edges higher

US stocks are rallying as Wall Street worries over the banking sector are easing after the big banks offer support to First Republic and as the SNB gave Credit Suisse a lifeline. Banking jitters are fading quickly for now and that has everyone scrambling back into risky assets. Yellen Treasury Secretary Janet Yellen’s testimony to the Senate did not yield any surprises. She defended the proposed budget and reiterated that there will be a careful look at what happened with SVB.

16-03-2023 13:52 GMT by Edward Moya

Oil remains volatile, gold could be eyeing $2000

Volatile amid worrying economic outlook It's been another volatile session in oil markets, bouncing back from their lows while remaining negative on the day. A failure to get back into the green would represent a fourth consecutive day of losses, albeit to a much lesser extent than the last three. Traders are clearly concerned about the economic outlook this year in light of recent bank failures and uncertainty at Credit Suisse.

16-03-2023 13:13 GMT by Craig Erlam

A gamble from the ECB?

It's been another wild session in financial markets and the ECB had the unenviable task today of making a decision on interest rates amid all of the uncertainty and turbulence. One thing that was clear from Lagarde's press conference is that it isn't just markets that expect the tightening cycle may have come to an abrupt end following the events of recent days.

16-03-2023 13:11 GMT by Craig Erlam

Australian dollar climbs on strong employment data

The Australian dollar has taken investors on a roller-coaster ride this week, reflective of the gyrations we're seeing in the financial markets. In the North American session, AUD/USD is trading at 0.6656, up 0.56%. Australian job growth outperforms Australia's employment report for February was stronger than expected.

16-03-2023 13:04 GMT by Kenneth Fisher

New Zealand dollar extends losses as GDP contracts

The New Zealand dollar has had a busy week, which is not surprising given the turmoil which has gripped the markets. NZD/USD has extended its losses on Thursday and is trading at 0.6162, down 0.40%. New Zealand GDP declines The markets were braced for a soft GDP report for Q4, but the decline was sharper than expected.

16-03-2023 09:38 GMT by Kenneth Fisher

EUR/USD - Credit Suisse woes knock down euro, will ECB hike today?

The euro has rebounded on Thursday after sliding 1.5% a day earlier, its worst daily showing since September 2022. In the European session, EUR/USD is trading at 1.0613, up 0.35%. The financial markets are in turmoil, with fears growing that the Silicon Valley collapse could lead to a full-blown banking crisis.

16-03-2023 06:21 GMT by Kenneth Fisher

Market Insights Podcast (Episode 444)

Craig Erlam joins Jonny Hart to discuss the big stories in the markets on Wednesday and what a day it has been. Credit Suisse sent equity markets into a tailspin, while UK Chancellor Jeremy Hunt sought to unleash his growth plan for the country.

16-03-2023 04:04 GMT by Craig Erlam

Worst yet to come?

It's been another remarkable day in financial markets and it, unfortunately, doesn't feel like the worst is behind us. Fear has once again gripped the markets, concerned about a repeat of past crises - one in particular, for obvious reasons - and the implications for the financial system and the global economy. Of course, this is natural when so little is known about the situation and what it ultimately means for the health of the rest of the system. In the absence of facts, everyone is left wit

15-03-2023 20:48 GMT by Craig Erlam

Oil plunges, gold flies on jittery markets

Oil plummets amid economic fears Oil prices have been caught up in the doom and gloom of what we're seeing in equity markets and after months of consolidation, economic concerns have triggered an aggressive breakout to the downside. Brent and WTI are off around 7% today and at levels last seen late in 2021 and it could get worse if the situation deteriorates further if the situation evolves into a broader banking crisis. There's no evidence it will at this point and as such, there's every chance

15-03-2023 20:45 GMT by Craig Erlam

Mid-Market Update: Stocks fall as banking worries persist, Credit Suisse crisis, Euro plunges, Oil crashes through $70, Gold demand surges, Bitcoin softer

US stocks are dropping as Wall Street anticipates further global banking turmoil after Credit Suisse fails to secure additional capital and their CDS hit crisis levels. Weak banks are feeling exposed to the past year of global central bank tightening and they will likely now have to deal with skyrocketing funding costs. The bloodbath is not just hitting financials, but also sending energy, material, and industrial stocks lower. Yields/FX Treasury yields are in freefall and so our Fed rate

15-03-2023 13:35 GMT by Edward Moya

British pound sinks on banking sector fears

The British pound has taken a nasty tumble on Wednesday. In the North American session, GBP/USD is trading at 1.202, down 1.1% on the day. Credit Suisse drags down US banking sector, boosts US dollar Since the collapse of the Silicon Valley Bank, the financial markets have been on a roller-coaster ride.

15-03-2023 12:44 GMT by Kenneth Fisher

NZD/USD - US retail sales decline, PPI softens, New Zealand GDP next

The New Zealand dollar is in negative territory on Wednesday, ending a 3-day rally that saw NZD/USD climb 160 points. In the North American session, NZD/USD is trading at 0.6205, down 0.50%. New Zealand GDP projected to contract in Q4 New Zealand releases fourth-quarter GDP later today, with the markets braced for a slowdown compared to Q3.

15-03-2023 10:11 GMT by Kenneth Fisher

AUD/USD falls ahead of employment report

The Australian dollar, which has posted strong gains early in the week, has run into a wall on Wednesday. In the European session, AUD/USD is trading at 0.6638, down 0.66%. Australian job growth expected to rebound Australia releases the February employment report on Thursday (Australia time).

15-03-2023 07:29 GMT by Kenneth Fisher

Mid-Market Update: Bank rebound fuels risk rally, Disinflation trends are not back, Too early for rate cut and hold calls, Oil struggles, Gold softens, Crypto rally

Banking contagion risks are evaporating and Wall Street is ready to pile back into risky assets. US stocks are surging as regional bank stocks bounce back and after the eight straight deceleration with the annual inflation pace supports the case for some that the Fed’s tightening work is almost done. CPI Today’s inflation data still supports the case for another quarter-point rate hike by the Fed. Wall Street seems to be focusing on both the strong rise with shelter prices as that made up 70

14-03-2023 13:28 GMT by Edward Moya

Australian dollar steadies as markets calm down

The Australian dollar is unchanged on Tuesday after climbing 1.29% a day earlier. In the North American session, AUD/USD is trading at 0.6673. US inflation eases With the Fed slowly but surely gaining the upper hand on stubborn inflation, US CPI reports have become key market movers.

14-03-2023 13:23 GMT by Kenneth Fisher

British pound's rally fizzles as markets settle down

The British pound has reversed directions after an impressive rally that saw GBP/USD climb 370 points. In the European session, GBP/USD is trading at 1.2154, down 0.24%. US dollar recovers The collapse of the Silicon Valley Bank (SVB) on Friday sent the financial markets into turmoil on Monday.

14-03-2023 06:12 GMT by Kenneth Fisher

Calm but for how long

Some calm appears to have returned to financial markets in early trade in Europe this morning but how long will it last? While everyone will be hoping that the turmoil that swept through markets since Friday is dealt with and behind us, I'm not sure anyone can say with any confidence that this is the case and investors will remain very sensitive to ongoing developments. What's more, we've seen a dramatic repricing of interest rate expectations, to the extent that markets now price peak rates to

14-03-2023 05:03 GMT by Craig Erlam

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