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Stocks rally as ECI softens and confidence weakens, Mixed earnings (Exxon, UPS, GM, McDonalds), a great January for Cryptos

US stocks are rallying after some standout earnings and economic data that suggests disinflation trends should remain in place for a while. Wall Street is slowly growing confident that this week's Fed rate hike might end up being the last one in this tightening cycle. US Data The quarterly employment cost index provided optimism that wage pressures are cooling. The fourth quarter ECI report printed at 1.0%, a decline from the 1.2% prior and lower than the 1.1% consensus estimate.

31-01-2023 13:45 GMT by Edward Moya

NZD/USD steady ahead of employment release

The New Zealand dollar has edged lower on Tuesday. In the North American session, NZD/USD is trading at 0.6462, down 0.10%. Markets await New Zealand job data New Zealand releases the Q4 employment report later today.

31-01-2023 11:51 GMT by Kenneth Fisher

A huge few days ahead

We're seeing plenty of caution in the markets this week which is perhaps not entirely surprising given what lies ahead. Earnings season isn't going as well as hoped and there are some big names coming up this week that could potentially dampen the mood further. It was always going to be a challenging period given the level of economic uncertainty, not to mention the staggering number of layoffs we're seeing, in the tech space in particular. Then we have the various central bank announcements, th

31-01-2023 11:03 GMT by Craig Erlam

Canadian dollar pares losses after GDP

The Canadian dollar has edged lower on Tuesday. In the North American session, USD/CAD is trading at 1.3410, up 0.17%.

31-01-2023 09:27 GMT by Kenneth Fisher

Aussie slides on soft retail sales

It has been a rough start to the week for the Australian dollar. AUD/USD has dropped 0.68% on Tuesday and is down 1.36% on the week.

31-01-2023 04:50 GMT by Kenneth Fisher

Stocks lower ahead of week filled with massive macro risks, Spain’s hot CPI report, Germany contracts, crypto drops

US stocks are selling off in what will be a massive week of corporate earnings, a key Fed decision, and an employment report that should keep wage pressures alive. The January rally has hit a wall and probably won’t have a chance of returning until we get beyond Wednesday’s Fed press conference and Apple’s results after the Thursday close.

30-01-2023 14:31 GMT by Edward Moya

Oil and gold dragged down on weakening outlook and inflation risks

Oil Crude prices are declining as the risks to the global outlook become overwhelming; China’s economy isn’t roaring back, global recession fears are returning after inflation unexpectedly rose in Spain, and as investors remain cautious ahead of a busy week of central bank decisions and peak earnings season. Oil is pulling back here as the vibe on Wall Street is to be ready to de-risk later this week. Growth prospects are weakening here and that should not do any favors for an already we

30-01-2023 14:22 GMT by Edward Moya

AUD/USD dips, retail sales next

The Australian dollar has started the week in negative territory. In the North American session, AUD/USD is trading at 0.7081, down 0.40%.

30-01-2023 11:18 GMT by Kenneth Fisher

Japanese yen remains calm

The Japanese yen had an uneventful week and edged higher on Monday. USD/JPY is trading at 130.06 in the European session, up 0.18%. US PCE slows to 4.4% Last week wrapped up with Core PCE slowing to 4.4% in December, down from 4.7% a month earlier.

30-01-2023 09:01 GMT by Kenneth Fisher

Euro starts week with gains

The euro is in positive territory on Monday. EUR/USD is trading at 1.0907 in the European session, up 0.36%. It was a quiet week for the euro, which continues to hug the 1.09 line.

30-01-2023 05:52 GMT by Kenneth Fisher

Market Insights Podcast (Episode 424)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed the BOC's conditional pause, Intel and American Express earnings, this week's crypto news, and the week ahead.

27-01-2023 15:07 GMT by Edward Moya

Week Ahead - All eyes on the Fed, ECB, BOE and NFP report

US Traders will focus on the FOMC decision, but they should also closely watch mega-cap tech earnings, and the nonfarm payroll report. The Fed is expected to continue slowing their rate hiking pace with a small 25 basis point rate rise. Disinflation trends are clearly here, but Core PCE suggest price pressures are coming and the labor market refuses to break and could prompt the Fed to remain vigilant with its inflation fight.

27-01-2023 14:00 GMT by Edward Moya

Mid-Market Update: Stocks edge higher, Core PCE, Intel's woes, Oil dips below $80, Gold hovers, Bitcoin wavers at $23K

US stocks are slightly higher as investors digest mixed earnings and hold onto hopes that the Fed will not overtighten. Stocks have gone from oversold to elevated levels as recession risks fade and investors doubt the Fed will follow through with their dot plot forecast.

27-01-2023 12:54 GMT by Edward Moya

Sterling dips, markets await US Core PCE

The British pound is slightly lower on Friday. In the European session, GBP/USD is trading at 1.2366, down 0.37%. Will US Core PCE continue to drop? There are no UK releases today, so all eyes will be on the US Core PCE, which is considered the Federal Reserve's preferred inflation indicator.

27-01-2023 07:20 GMT by Kenneth Fisher

Australian dollar shrugs as PPI falls

The Australian dollar is almost unchanged on Friday, trading at 0.7112. Australia's PPI slips Just a day after Australian CPI unexpectedly rose, the Producer Price Index went in the opposite direction. PPI in the fourth quarter slowed to 5.8% y/y, down from 6.4% in Q3 and below the consensus of 6.3%.

27-01-2023 05:51 GMT by Kenneth Fisher

USD/JPY dips as Tokyo Core CPI rises

The Japanese yen is in positive territory on Friday. In the European session, USD/JPY is trading at 129.76, down 0.33%. Tokyo CPI hits 4.3% Inflation indicators in Japan continue to head northwards.

27-01-2023 04:50 GMT by Kenneth Fisher

The end of global tightening, Tesla, Chevron, airlines, bitcoin softens

US stocks rallied after recession risks eased following better-than-expected GDP data. So today’s data was good news that was able to send stocks a little bit higher, but not all the way as rate cut bets were pared back.

26-01-2023 12:09 GMT by Edward Moya

Oil gets a GDP boost, gold drops ahead of Fed

Oil Crude prices got an unexpected boost from a US economy that doesn’t want to break. Another round of US data supported the argument that this economy still could get a soft landing, which is very positive for the short-term crude demand outlook.

26-01-2023 11:59 GMT by Edward Moya

Canadian dollar rises on sharp US numbers

The Canadian dollar is in positive territory on Thursday. In the North American session, USD/CAD is trading at 1.3363, down 0.16%.

26-01-2023 11:50 GMT by Kenneth Fisher

Euro continues to drift

The euro has been in calm waters all week and the trend has continued on Thursday, as EUR/USD continues to hug the 1.09 line. What is the ECB's game plan? With inflation designated as public enemy number one, the ECB is no doubt pleased that inflation has fallen for two straight months, dropping to 9.2% in December. Still, this is well above the ECB's inflation target of 2%, and the newly-hawkish Christine Lagarde has declared that the ECB will "stay the course" to ensure that inflation comes

26-01-2023 08:51 GMT by Kenneth Fisher

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