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Choppy trading continues Oil remains choppy this week with Brent and WTI slipping around 1% in early trade on Tuesday, wiping out similar gains at the start of the week. There is undoubtedly more optimism around the Chinese economy which will stimulate more demand this year but at the same time, sentiment is cooling on the global economy as interest rates are projected to go a little higher than previously anticipated. This was always likely to be a quarter of big swings in sentiment as it was t

21-02-2023 03:40 GMT by Craig Erlam

Plenty to look forward to

It hasn't been the most thrilling start to the week but the good news is that it should improve from here as the US rejoins and the economic calendar fills out. We were basically treading water on Monday which is often the case on a US bank holiday. The fact that the calendar was as thin as it was elsewhere naturally doesn't help and it may be no bad thing either.

21-02-2023 03:36 GMT by Craig Erlam

Market Insights Podcast (Episode 434)

Craig Erlam joins Jonny Hart to discuss how financial markets are trading at the start of the week, why China outperformed following the LPR decision, and the week ahead.

20-02-2023 15:21 GMT by Craig Erlam

Japanese yen steady at 134

USD/JPY has started the week quietly as it continues to trade at the 134 line. It was a rough week for the yen, which declined by 2% and dropped as low as 135.11, its lowest level this year.

20-02-2023 10:02 GMT by Kenneth Fisher

Oil remains choppy, gold under pressure

Choppy trade continues Oil prices are bouncing back a little after slipping throughout the last week from their recent highs. The optimism around China today may be responsible for the gains we're seeing in crude which would make a lot of sense given it's the world's largest importer and expected to recover strongly from the Covid transition. But as we've seen over the last few months, there's more to this story than just China and the decline over the last week was likely a reflection of more p

20-02-2023 08:25 GMT by Craig Erlam

Euro drifting, markets eye PMIs

The euro showed some volatility at the start of last week but since then it has been in calm waters and has stayed close to the 1.0.7 line.We'll get a look at eurozone and German PMIs on Tuesday. ECB signals another 50 bp hike The ECB has been criticized for sending mixed messages to the markets, but Christine Lagarde was crystal clear last week when she told EU lawmakers that “in view of the underlying inflation pressures we intend to raise interest rates by another 50 basis points at our nex

20-02-2023 05:17 GMT by Kenneth Fisher

AUD/USD - A head and shoulders breakout?

OANDA Senior Market Analyst Craig Erlam discusses the latest moves in AUD/USD and questions whether we're seeing a head and shoulders breakout.

19-02-2023 16:50 GMT by Craig Erlam

GBP/USD - Shifting Expectations

OANDA Senior Market Analyst Craig Erlam discusses how cable has responded to the change in US and UK interest rate expectations over the last couple of weeks, and what he believes the key levels to watch are.

19-02-2023 16:41 GMT by Craig Erlam

US Close: Stocks punished on rate fears, Fed speak, Dollar higher, Gold finds support, Crypto lower

Wall Street appears to be closing out the week on a down note as investors become rattled over the prospect of more tightening by the Fed. It isn’t just Fed expectations that are rising, traders are also expecting the ECB to send rates much higher.

17-02-2023 16:17 GMT by Edward Moya

Market Insights Podcast (Episode 433)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed the return of the bond bears following a wave of hawkish Fed speak, oil's weekly loss, crypto markets, and the week ahead.

17-02-2023 16:13 GMT by Edward Moya

Oil slides, gold under pressure

Oil slides but remains in range We’re continuing to see oil prices fluctuate, although recent choppiness has occurred largely near the upper end of their range since early December. Brent and WTI are on the decline on Friday, matching up with overall risk appetite in the markets but broadly speaking, little has changed. One major upside risk to prices remains China and its recovery from the transition to living with Covid.

17-02-2023 08:24 GMT by Craig Erlam

Finally hitting home

Equity markets are ending the week in the red after finally falling victim to the persistent disappointment of US economic data on Thursday. It's taken a lot but it would appear investors' eternal optimism is being shaken, with the latest PPI figures finally driving the message home that bringing the economy in for a soft landing will be extraordinarily challenging and there'll likely be plenty of turbulence along the way. In reality, the message should have sunk in much sooner but investors wer

17-02-2023 08:19 GMT by Craig Erlam

Week Ahead - Economic data dominates

The latest round of economic data (retail sales, CPI, PPI, jobless claims) are all signaling more Fed rate hikes are coming. Wall Street will pay close attention to the flash PMIs, which could show manufacturing and service sector activity is stabilizing, existing home sales, jobless claims, and personal income & spending data.

17-02-2023 06:49 GMT by Craig Erlam

USD/JPY breaks above 135

The Japanese yen is down sharply on Friday. In the European session, USD/JPY is trading at 134.93, up 0.73%.

17-02-2023 04:39 GMT by Kenneth Fisher

EUR/USD at 3-week low after strong US data

The euro is down for a third straight day and fell earlier to 1.0629, its lowest level since Jan. 23.

17-02-2023 03:26 GMT by Kenneth Fisher

US Close: Stocks lower post hot PPI report and hawkish Fed speak, Fed's Mester saw case for 50 bp rise, Oil edges higher, Gold rebounds after six-week low, Bitcoin rises

A hot PPI report and unexpected initial jobless claims decline sent stocks lower as investors started to price in more Fed tightening. This week was a rude awakening for the disinflation process.

16-02-2023 14:28 GMT by Edward Moya

Canadian dollar extends losses

The Canadian dollar continues to lose ground on Thursday. In the North American session, USD/CAD is trading at 1.3461, up 0.50%. Soft data weighs on Canadian dollar Weak Canadian releases are weighing on the Canadian dollar, which is down about 1% this week.

16-02-2023 11:11 GMT by Kenneth Fisher

GBP/USD steadies, eyes UK retail sales

The British pound has steadied on Thursday. In the European session, GBP/USD is trading at 1.2053, up 0.25%.

16-02-2023 07:16 GMT by Kenneth Fisher

Aussie shaky after soft job data

It has been a busy session for the Australian dollar, which started the day with losses but has recovered. In European trade, AUD/USD is trading at 0.6919, up 0.23%. Mixed Australian data Australia delivered some mixed data earlier today.

16-02-2023 05:16 GMT by Kenneth Fisher

Sustained belief

Equity markets are poised to open in the green once more on Thursday, continuing what has been a rather strange week of trade so far. We've seemingly gone from euphoria at the start of the year on the back of some really encouraging economic data to turning a blind eye to it when it suits. It's all really quite odd, especially when other corners of the market are behaving in a more orthodox manner, which begs the question, what do equity (and crypto) traders know that the rest of us do not? In t

16-02-2023 03:54 GMT by Craig Erlam

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