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Wild fluctuations in oil Oil prices are continuing to whipsaw while remaining within the broad ranges they've traded within since early December. Yesterday we saw Brent and WTI testing the lower end of these in response to the turmoil that erupted in the financial system that triggered widespread risk aversion. Today we're seeing them trade lower again, albeit still higher than yesterday's lows.

14-03-2023 04:56 GMT by Craig Erlam

Market Insights Podcast (Episode 443)

Craig Erlam joined Jonny Hart to discuss the latest on SVB and what it means for interest rate expectations and this week's big US data.

14-03-2023 03:21 GMT by Craig Erlam

US Close: Regional Banks crushed, Chaotic Stock session as Fed Regulators intervened, Oil pummeled, Gold surges, Bitcoin posts best rally since FTX turmoil

US stocks had a chaotic day as bank stocks crumbled and interest rate sensitive sectors rallied as Treasury yields tumbled. Over the weekend, Federal regulators rushed in to squash a growing liquidity crisis.

13-03-2023 15:04 GMT by Edward Moya

Euro hits 1-month high as Silicon Valley Bank collapse weighs on US dollar

The euro has posted sharp gains at the start of the week, extending its rally against a retreating US dollar. In the North American session, EUR/USD is trading at 1.0740, up 0.95% and its highest level since February 15. Perhaps it is fitting that today's economic calendar has no US or European releases, allowing investors to focus their full attention on the fallout from the collapse of the Silicon Valley Bank (SVB).

13-03-2023 12:37 GMT by Kenneth Fisher

GBP/USD - Pound extends gains on US bank debacle, UK employment report and US inflation next

The British pound continues to rally and punched as high as 1.2141 earlier today before retreating. In the European session, GBP/USD is trading at 1.2100, up 0.56%. There are no economic releases out of the US or UK or Monday, but the markets have plenty to digest after the sudden collapse of the Silicon Valley Bank (SVB).

13-03-2023 09:10 GMT by Kenneth Fisher

AUD/USD - Aussie jumps as SVB collapse sends US dollar sliding

The Australian dollar is considerably higher on Monday. In the European session, AUD/USD is trading at 0.6617, up 0.58%.

13-03-2023 06:44 GMT by Kenneth Fisher

Market Insights Podcast (Episode 442)

Craig Erlam joins Jonny Hart to discuss the US jobs report, SVB Financial fallout, UK Budget, and the week ahead.

10-03-2023 18:43 GMT by Craig Erlam

Week Ahead - ECB Playing Catch-Up

The labor market is still strong but is showing signs it is ready to soften as wages cool. Wall Street will pay close attention to the February inflation report. Disinflation trends are struggling here and a hot report could not only lock the Fed into boosting their hiking pace but possibly lead markets into expecting a higher peak rate. Headline inflation is expected to slow from 6.4% to 6.0%.

10-03-2023 17:50 GMT by Craig Erlam

US Close: A cooling wage/hot payroll report, Banking System Fears, Rate Hike bets slashed, SVB fails, Oil rebounds, Gold shines bright, Crypto breaks below $20k

US stocks settled lower in a volatile session as traders digested a cooling wage/ robust job growth report and SVB contagion risks. This was supposed to be an easy Friday with one massive jobs report, but SVB, a large bank with exposure across a range of sectors failed and triggered distress for several other smaller banks. At the end of the day, traders are seeing this cooling/hot payroll report as confirmation that Fed policy is restrictive and that the their tightening work is almost done.

10-03-2023 13:44 GMT by Edward Moya

British pound flirts with 1.20 as GDP outperforms, US nonfarm payrolls expected to slow

The British pound has extended its gains and is trading at 1.1996 in Europe, up 0.62%. Earlier, GBP/USD pushed above the symbolic 1.20 level. UK GDP rises 0.3% The UK ended a light calendar week on a bright note, as January GDP posted a modest gain of 0.3%, above the estimate of 0.1% and following a -0.5% reading in December.

10-03-2023 07:42 GMT by Kenneth Fisher

Fear gripping the markets

Stock markets are deep in negative territory on Friday, a day that will not be as dominated by the US jobs report as expected. Financial stocks are being hit particularly hard this morning on the back of reports of SVB Capital attempting to sell stock in order to shield itself amid large losses and withdrawals. This comes shortly after the collapse of Silvergate Capital and as investors are already concerned about the ramifications of the Fed's aggressive tightening cycle. Ultimately, what we're

10-03-2023 07:14 GMT by Craig Erlam

Oil in choppy waters, gold awaits nonfarm payrolls

Choppy trading remains in oil Oil has pared earlier losses but remains lower on the day as we near the end of the trading week. We've basically just experienced last week but in reverse, in keeping with how oil markets have traded since early December. Choppy but ultimately range-bound action has been evident throughout that period and while traders will have an eye on the range lows - which have been gradually rising - there's currently little to suggest we're about to see a major breakout in e

10-03-2023 07:09 GMT by Craig Erlam

USD/JPY - yen slips after BoJ maintains policy settings, US nonfarm payrolls loom

The Japanese yen is trading at 1.36.83 in the European session, down 0.52%. USD/JPY fell 0.90% on Thursday but has recovered much of those losses today. Kuroda exits with a whimper Bank of Japan Governor Kuroda didn't fire any final shots at his final meeting today.

10-03-2023 06:34 GMT by Kenneth Fisher

Canadian dollar eyes US, Canadian job reports

The Canadian dollar continues to sag and has dropped 1.9% this week. Hold onto your hats, as we could have some further volatility from USD/CAD in the North American session, with the release of the US and Canadian employment reports. All eyes on NFP The highlight of the day is the US nonfarm payrolls report, which is expected to head back to earth after a blowout gain of 517,000 in January.

10-03-2023 04:57 GMT by Kenneth Fisher

British pound rebounds, UK GDP expected to improve

The British pound has taken advantage of broad US dollar weakness and is sharply higher on Thursday. In the North American session, GBP/USD is trading at 1.1925, up 0.71%. UK GDP expected to rebound It has been a light data calendar this week in the UK.

09-03-2023 12:01 GMT by Kenneth Fisher

EUR/USD - US data key ahead of the Fed

OANDA Senior Market Analyst Craig Erlam discusses EURUSD as we await some huge economic data releases and the Fed rate decision in two weeks.

09-03-2023 11:52 GMT by Craig Erlam

Canadian dollar slips to lowest level since October 2022 after Bank of Canada pauses

The Canadian dollar has edged higher on Thursday and trading slightly below the 1.38 line. The Canadian dollar is struggling and has declined by 1.5% this week. Bank of Canada holds rates As widely expected, the Bank of Canada took a breather at Wednesday's meeting and maintained the cash rate at 4.50%.

09-03-2023 09:43 GMT by Kenneth Fisher

US Open: Stocks turn positive after Jobless Claims rise, Biden’s Budget DOA, Yen strength, Oil rebounds, Gold stabilizes, Crypto pain post Silvergate liquidation

US stocks erased losses after some softening labor data helped cool down this week’s surging Fed rate hike bets. Wall Street is hoping we are about to see a quicker cooling of the labor market, but we probably won't see major positioning until after Friday's NFP report. Fed Chair Powell seems to have signaled they will accelerate the tightening pace to a half-point rate rise if we get both a hot NFP and inflation reports.

09-03-2023 09:26 GMT by Edward Moya

Cautious ahead of jobs report

It would appear investors are taking a cautious stance ahead of tomorrow's jobs report, a little spooked by Powell's comments in Congress and fearful of being caught on the wrong side of another hot jobs report. That's clearly the danger at this point, that we get another hot report that confirms January was no blip and instead indicative of a labour market that not only isn't cooling but perhaps getting hotter. The trend pre-January across many indicators pointed to a cooling in the economy and

09-03-2023 08:17 GMT by Craig Erlam

USD/JPY sharply lower ahead of Kuroda's last meeting

The Japanese yen is showing strength on Thursday. In the European session, USD/JPY is trading at 136.27, down 0.79%. Kuroda's last hurrah After 10 years at the helm of the Bank of Japan, Governor Kuroda chairs his final policy meeting on Friday.

09-03-2023 04:34 GMT by Kenneth Fisher

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