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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

Oil on wild ride, gold powers higher

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

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