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US Close: Stocks lower on earnings and geopolitical risks, Dollar strength, Oil rises on demand hopes, Gold crushed, Bitcoin steadies

US stocks are declining on poor earnings and mounting geopolitical risks that will likely make it harder for disinflation trends to remain strong. Earnings season may also get the name layoff season as more companies announce their job reduction measures. Today, Dell confirmed they will lose about 6,650 jobs. Much of Wall Street is getting nervous over US-China tensions. A few months ago, China was not investable.

06-02-2023 15:22 GMT by Edward Moya

Oil edges higher, gold struggling

Edging higher Oil prices are a little higher at the start of the week with a few factors potentially behind the move. Turkey's decision to temporarily halt flows to the Ceyhan terminal may have lifted prices a little given the uncertainty around the situation, although, with reports of no damage to pipelines, the impact should be marginal.

06-02-2023 11:14 GMT by Craig Erlam

Digesting the data

Equity markets are off to a difficult start on Monday, no doubt weighed down by the prospect of more rate hikes and tensions between the world's two largest economies. While there were some promising aspects of the jobs report - cooling wage growth and higher participation - it's impossible to ignore the fact that the labour market remains red hot. Of course, no one will be surprised if we see huge revisions next month - we've seen some substantial ones recently after all - but for now, it's har

06-02-2023 11:09 GMT by Craig Erlam

EUR/USD extends losses

The euro continues to lose ground and has started the week in negative territory. In the European session, EUR/USD is trading at 1.0783, down 0.19%.

06-02-2023 08:02 GMT by Kenneth Fisher

Australian dollar takes an NFP tumble

After a miserable end to the week, the Aussie is steady on Monday and is trading at 0.6912. The January US nonfarm payrolls was a blowout that shocked the markets. The economy created a stunning 517,000 new jobs, crushing the estimate of 185,000 and well above the previous read of 260,000.

06-02-2023 04:31 GMT by Kenneth Fisher

Market Insights Podcast (Episode 427)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the jobs report, earnings from Apple, Amazon and Alphabet, and interest rate decisions from the ECB and BoE.

03-02-2023 17:12 GMT by Craig Erlam

Week Ahead - Nearing the end of rate hikes?

Now that Wall Street has had enough time to process the dovish FOMC decision and another robust nonfarm payroll report, the focus shifts predominantly to Fed speak and economic data that should support the disinflation process. Traders will pay close attention to initial jobless claims and the University of Michigan sentiment report. Other notable economic releases include trade data, consumer credit, and the monthly budget statement.

03-02-2023 15:35 GMT by Craig Erlam

US Close - Fed irked by NFP shocker and ISM data, Oil sharply reverses, Gold crushed, Bitcoin rally stalls

After a busy and volatile week that included the end of Fed Chair Powell’s hawkish tone and mega-cap tech earnings disappointments, Wall Street should not have been surprised that today’s employment report would rattle markets. An impressive nonfarm payroll report was quickly followed by a report that showed the service sector is refusing to break. US stocks are dropping as investors realize the bearish move love with Treasury yields is over as the Fed may have to deliver a couple more rate hik

03-02-2023 14:13 GMT by Edward Moya

Tech earnings hit sentiment ahead of jobs report

Stock markets have been under a little pressure on Friday and the US is poised to open in the red also, with the Nasdaq hit particularly hard. This comes on the back of some disappointing earnings from heavyweight tech firms Apple, Amazon, and Alphabet. Each had their own reasons for disappointing the street but ultimately the one thing they all have in common is the economy and the outlook, and it's hitting both the top and bottom lines. Whether that's through fewer device purchases or lower sp

03-02-2023 07:36 GMT by Craig Erlam

Oil prices edge lower, gold under pressure

Oil settles after a volatile start to 2023 Oil prices are a little lower again at the end of the week, settling it seems somewhere around the middle of the new year range. Sweeping risk aversion in the markets and concerns around a potential deeper slowdown driven by higher rates will have that effect but once again it's worth noting that sentiment in this market is fickle.

03-02-2023 07:31 GMT by Craig Erlam

Swissie takes a pause after busy week

The Swiss franc is unchanged on Friday, trading at 0.9132. USD/CHF has posted sharp swings over the past several days and is down 0.80% this week. Swiss releases have been a mixed bag this week.

03-02-2023 06:59 GMT by Kenneth Fisher

Pound stems nasty slide

The British pound is showing little movement on Friday, after plunging 1.2% a day earlier. In the European session, GBP/USD is trading at 1.2210. Major central bank announcements have been in the spotlight this week, including the Federal Reserve and Bank of England rate decisions.

03-02-2023 05:43 GMT by Kenneth Fisher

ECB raises rates but euro falls

The euro is catching its breath on Friday after some sharp swings over the past two days. EUR/USD is trading quietly at the 1.09 line. Fed, ECB send euro on a wild ride This week's central bank rate announcements sent the euro on a roller-coaster ride.

03-02-2023 03:57 GMT by Kenneth Fisher

Stocks rally on Fed aftermath and Meta results, ECB plays catch up, oil in no man’s land, gold lower, bitcoin rallies

US stocks are rallying as the Fed has one or two more quarter-point rate rises left in this rate-hiking cycle. The post-Fed playbook was fairly straightforward as traders bought up risky assets after Fed Chair Powell’s dovish tone.

02-02-2023 15:30 GMT by Edward Moya

GBP/USD sliding after dovish BoE hike

The British pound has posted sharp losses on Thursday and continues to lose ground in the North American session. GBP/USD is trading at 1.2251, down 0.98%. BoE raises rates, but less pessimistic The major central banks remain the focus of the market's attention.

02-02-2023 12:07 GMT by Kenneth Fisher

Euro drifting ahead of ECB meeting

The euro is showing limited movement on Thursday, ahead of the ECB rate meeting. In the European session, EUR/USD is trading at 1.1000. Euro jumps on dovish Powell Investors liked what they heard from Jerome Powell at the Fed meeting, which sent the US dollar broadly lower.

02-02-2023 07:10 GMT by Kenneth Fisher

Fed and earnings lift stocks

Equity markets are off to a strong start on Thursday, buoyed it seems by the Fed's latest decision and Meta earnings. While Powell was determined not to overplay the shift in the Fed's views on inflation and interest rates, certain comments were well received by the markets. The acceptance that the disinflation process has begun, being one obvious comment, but this was also paired with him stressing that they need substantially more evidence and to hike a couple more times before monetary policy

02-02-2023 05:12 GMT by Craig Erlam

Aussie hits 8-month high after Fed meet

After a sluggish start to the week, AUD/USD bounced back on Wednesday with gains of 1.18%. The pair has edged lower on Thursday and is trading at 0.7137 in the European session. Powell sends US dollar lower The Federal Reserve raised rates by 25 basis points at the Wednesday meeting, as expected.

02-02-2023 04:41 GMT by Kenneth Fisher

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP cools, No surprise from OPEC/US stockpiles rise, Gold higher, Crypto

US stocks went on a Fed rollercoaster ride; weakening after the statement suggested the Fed will stick to their rate hiking guns, but rallying after a dovish press conference that didn't see Powell defend their dot plots and had him say for the first time that the disinflation process has begun. If the next couple of inflation reports show pricing pressures continue to ease, the Fed may finish this tightening cycle in March.

01-02-2023 15:34 GMT by Edward Moya

Pound in holding pattern ahead of Fed, BOE

It has been a quiet week for the British pound, but that could change in a hurry, with the Fed announcing its rate decision later today, followed by the Bank of England on Thursday. Markets eye Fed decision It's a virtual guarantee that the Federal Reserve will raise rates at today's meeting by 25 basis points. This would bring the benchmark rate to 4.75%.

01-02-2023 12:43 GMT by Kenneth Fisher

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