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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

Market Insights Podcast (Episode 426)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed the ADP employment report, Tom Brady's retirement announcement, the OPEC+ decision, and Bitcoin's impressive January.

01-02-2023 12:19 GMT by Edward Moya

A chaotic day

It promises to be a chaotic day in financial markets and they're currently positioned cautiously in anticipation of what's to come. There's no doubt that investors have one eye on the Fed decision later in the day, as they have all week. It's not just about the rate hike itself, which will almost certainly be 25 basis points according to markets, but the signal the central bank sends about what lies ahead given the progress made in the economic data in recent months. There is growing evidence th

01-02-2023 10:43 GMT by Craig Erlam

Oil in choppy waters, gold range-bound

Oil choppy as OPEC+ leans towards sticking Oil prices are higher a little again on Wednesday, as choppy trade continues. With OPEC+ set to stick to current output targets, according to reports, focus will remain on demand and whether the global economy can achieve a more modest slowdown than feared in a very challenging environment. The Chinese Covid transition also remains key with early data suggesting it's been quite smooth so far and the recovery could be stronger than expected.

01-02-2023 10:39 GMT by Craig Erlam

Euro higher after eurozone inflation falls

It has been a quiet week for EUR/USD which continues to say close to the 1.09 line. The lack of activity could change in a hurry in the North American session, with the Fed rate announcement. Eurozone inflation slides in January Eurozone inflation is expected to be 8.5% in January, down from 9.2% in December and below the consensus of 9.0%.

01-02-2023 05:45 GMT by Kenneth Fisher

Market Insights Podcast (Episode 425)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss how the markets are trading ahead of a very busy few days.

31-01-2023 17:31 GMT by Craig Erlam

Oil and gold rise

Oil Crude prices turned positive after Exxon noted that they see oil supplies tight as some producers pull back. The oil market is awaiting a couple of major events, both the FOMC decision and the OPEC+ meeting on output. The EIA reported that cold weather made November US output dip for the first time since May.

31-01-2023 13:47 GMT by Edward Moya

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

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