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Oil loses ground, gold eyes inflation
Paring gains Oil prices are falling again on Tuesday after initially recouping losses at the start of the week. While traders remain very optimistic about China and to a lesser extent, the resilience of the global economy this year, the fact remains that it won't be a smooth process, and that has already been evident in the economic data in the opening weeks of 2023. It will be interesting to see how oil prices respond to today's US inflation data as interest rates are now at a point where every
14-02-2023 07:38 GMT by Craig Erlam
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The moment we've been waiting for
Stock markets got the week off to a strong start and that optimism is carrying through to the inflation report release, it would appear. European indices are trading around half a percentage point higher early in the day and US futures indicate a slightly positive open as well. Of course, all of that will probably change between now and the opening bell, with the inflation data being released an hour before. As was the case yesterday, I'm quite surprised at the level of optimism we're seeing in
14-02-2023 07:35 GMT by Craig Erlam
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AUD/USD unchanged ahead of US CPI
The Australian dollar is unchanged on Tuesday, after starting the week with strong gains. In the European session, AUD/USD is trading at 0.6966. Australia's Business Confidence jumps Australia's NAB Business Confidence rebounded in January, rising from 0 to 6 and above the forecast of 1 point.
14-02-2023 07:16 GMT by Kenneth Fisher
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Pound steady after jobs report
UK wage growth eases The British pound is slightly higher on Tuesday, as the markets digest today's UK employment report. Wage growth rose by 5.9% in the October-December period, down from 6.5% and the lowest since the three months to July 2022.
14-02-2023 04:02 GMT by Kenneth Fisher
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Surprisingly Optimistic
It's been a promising start to the week in financial markets, albeit one built on surprising optimism ahead of tomorrow's US inflation report. I would expect to see a little more apprehension, even anxiety, in the run-up to the release after the jobs report left investors on edge. In an ideal world, slack would be gradually appearing in the labour market as inflation steadily fell to 2%, allowing the Fed to take its foot off the break.
13-02-2023 12:35 GMT by Craig Erlam
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Oil edges lower, gold eyes inflation report
Profit-taking ahead of CPI data Oil prices are a little lower at the beginning of the week. Last week saw them bounce back strongly on optimism around China's economic recovery, post Covid transition.
13-02-2023 12:26 GMT by Craig Erlam
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NZ dollar surges, eyes inflation expectations
The New Zealand dollar has started the week in positive territory. In the North American session, NZD/USD is trading at 0.6357, up 0.76%. Will NZ inflation expectations keep rising? It has been a long break for the Reserve Bank of New Zealand, which last met in November.
13-02-2023 12:19 GMT by Kenneth Fisher
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US Open: Stocks edge higher, Standard hawkish speak from Fed’s Bowman, Oil drops on demand risks, Gold vulnerable, Crypto lower
US stocks are rising as traders digest more balloon incidents and ahead of a key inflation that might tilt the Fed rate hiking scale.  The initial move to start the week is higher, but traders might struggle to remain excessively bullish before tomorrow’s inflation data.  Pricing pressures are expected to rise last month and we should not be surprised if the Valentine's day inflation report is very hot as used car prices and energy costs clearly rebounded last month. Risky assets could struggle
13-02-2023 10:22 GMT by Edward Moya
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Yen slides as Ueda set to lead BoJ
The Japanese yen has started the week with sharp losses. In the European session, USD/JPY is trading at 132.54, up 0.86%. Japan's GDP expected to rebound There are high hopes for the Japanese economy, which is expected to climb by 2% in the fourth quarter, following a 0.8% decline in Q3.
13-02-2023 06:17 GMT by Kenneth Fisher
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Market Insights Podcast (Episode 430)
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed the University of Michigan Sentiment Report/inflation expectations, Japan PM Kishida's expected pick to head the BOJ, crypto weakness, and the week ahead.
10-02-2023 15:09 GMT by Edward Moya
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Week Ahead - A valentine's day treat
The Valentine’s Day inflation report is the main event of this week.  Disinflation trends will get tested here and we could potentially have a major turning point with Wall Street’s expectations on how high the Fed will have to take interest rates. The January inflation report is expected to show headline CPI from a month ago rose 0.5%, up from the -0.1% reading in the prior month.  Inflation from a year ago is expected to improve from 6.5% to 6.2%.
10-02-2023 11:28 GMT by Craig Erlam
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British pound dips after soft GDP
The British pound is almost unchanged on Friday and is trading at 1.2116 in the North American session. UK avoids recession UK GDP declined 0.5% in December, following a 0.1% gain in November and worse than the forecast of -0.3%. GDP managed a 0% growth rate in Q4 after a -0.2% reading in Q3.
10-02-2023 09:08 GMT by Kenneth Fisher
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Resilience
Equity markets are ending the week on a flat or slightly downbeat note which has largely reflected the mood all week, really. Central bankers, particularly from the Fed, have been out in force stressing caution over interest rate expectations. And it's clearly had an impact following that red-hot jobs report last Thursday.
10-02-2023 07:31 GMT by Craig Erlam
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China boosts oil, gold edges higher
Stronger China buoys oil Oil is heading for a strong week of gains, wiping out last week's losses, as analysts continue to be encouraged by China's transition to living with Covid. While the buzzword for large parts of the global economy this year is "resilience", when it comes to China it's more a question of just how strongly it will bounce back. The assumption, once they began removing restrictions, was that the first quarter or two would be tough but the second half of the year would see gro
10-02-2023 07:21 GMT by Craig Erlam
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Yen jumps on report of BoJ appointment
It has been a busy day for the Japanese yen, which jumped as much as 1.1% today before paring most of those gains. In the European session, USD/JPY is trading at 131.04, down 0.37%. Report says BoJ has chosen next governor The Japanese yen posted sharp gains after a Nikkei report that Kazua Ueda would be selected as the Bank of Japan's next governor.
10-02-2023 06:30 GMT by Kenneth Fisher
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Pound jumps as BoE hints at 50-bp hike
The British pound has posted sharp gains on Thursday. In the North American session, GBP/USD is trading at 1.2153, up 0.68%. BoE points to further rate hikes BoE Governor Andrew Bailey was in the spotlight today as he testified about last week's Monetary Policy report before a parliamentary committee.
09-02-2023 12:04 GMT by Kenneth Fisher
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