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OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed Netflix earnings, Google's layoff announcement, oil markets, crypto news, and the week ahead.

20-01-2023 13:30 GMT by Edward Moya

Stocks rally as Google job cuts support disinflation trends, Fed speak, Oil’s good week, Gold hovers near 9-month highs, Bitcoin above $21k

US stocks are rallying as tech stages a comeback following Google parent Alphabet’s announcement that they will cut its global workforce by more than 6%. The reduction of 12,000 jobs globally for Google confirms a clear trend of mega-cap cost-cutting measures. First it was Amazon and Microsoft with major job cut announcements and now it is Google. We should see this theme spread across other sectors throughout the year and that should help keep disinflation trends intact.

20-01-2023 12:09 GMT by Edward Moya

Week Ahead - Earnings season a highlight

US It will be a busy week filled with the first look at Q4 GDP, corporate earnings, and US debt ceiling gridlock. There is a lot of risk on the table and a key focal point for many will be the modest growth we will see alongside a plethora of data points that are signalling recession warnings.

20-01-2023 12:01 GMT by Craig Erlam

It's going to be a bumpy ride

It's been another eventful week and one that serves to remind us that while there may be more sources of optimism this year, compared with last, it's going to be a very bumpy ride. There's no doubt that there's been plenty more cause for optimism so far this year, especially compared with what we became accustomed to in 2022. The US could achieve the soft landing that many have doubted is possible, China could bounce back strongly from the dropping of Covid restrictions and the euro area may avo

20-01-2023 08:39 GMT by Craig Erlam

Oil remains choppy, gold near record high

Speed bumps ahead Oil prices have been choppy this week after climbing back towards their late December/early January peaks. It would appear the rally is running short of momentum amid a week of less promising data from the US and a downturn in market sentiment, more broadly.

20-01-2023 08:29 GMT by Craig Erlam

EUR/USD drifting continues

The euro continues to have a very quiet week, as EUR/USD appears content to trade around the 1.08 line. Lagarde brings her message to Davos It's difficult to think of ECB President Lagarde as a hawk, as she ignored rising inflation in the eurozone for a long period, insisting that it was transitory. The ECB was late to the global tightening party and found itself scrambling to curb inflation.

20-01-2023 07:30 GMT by Kenneth Fisher

USD/CAD eyes retail sales

The Canadian dollar is unchanged on Friday, trading at 1.3466 in the European session. We could see some volatility in the North American session, as Canada releases retail sales. Retail sales expected to decline The markets are bracing for a downturn in retail sales for November, with a forecast of -0.5% m/m for the headline figure and -0.4% for the core rate.

20-01-2023 05:41 GMT by Kenneth Fisher

Pound edges lower as retail sales slump

The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2360, down 0.27%. Retail sales fall sharply UK retail sales were dismal in December.

20-01-2023 04:08 GMT by Kenneth Fisher

Mid-Market Update: Stocks drop on tightening and growth fears, Fed speak, Treasury uses special measures, US Data, Oil higher, Gold shines, Bitcoin finds support ahead of $20k

US stocks are declining after another labor market statistic shows that despite all the big-tech post-pandemic layoffs, the jobs market remains hot. The labor market needs to break to allow the Fed to comfortably keep rates on hold.

19-01-2023 11:09 GMT by Edward Moya

Yen edges higher ahead of Tokyo CPI

The Japanese yen has edged higher on Thursday, after showing strong volatility a day earlier. In the North American session, USD/JPY is trading at 128.48, down 0.32%. There was plenty of anticipation ahead of the Bank of Japan meeting on Wednesday, with speculation that the central bank would follow up on the December meeting and change its policy settings.

19-01-2023 10:56 GMT by Kenneth Fisher

Central bank warnings

It's been a solid start to the year for equity markets but that optimism appears to be fading as policymakers queued up in Davos to push back against market interest rate expectations. Let's be clear on this; the markets have a much better record over the last 18 months of anticipating shifts in interest rates than central banks so to some degree these warnings will fall on deaf ears. But then, they come at a time when stocks have had a good run so perhaps it's a case of any excuse to lock in so

19-01-2023 08:38 GMT by Craig Erlam

Will retail sales weigh on British pound?

The British pound is almost unchanged on Thursday, trading at 1.2342 in the European session. Markets brace for another decline in retail sales All eyes will be on the UK's December retail sales, which will be released on Friday. The UK consumer has been holding tight to the purse strings, which is bad news for an economy that has tipped into recession.

19-01-2023 08:16 GMT by Kenneth Fisher

AUD/USD slides after soft Aussie job report

The Australian dollar has extended its slide on Thursday. AUD/USD is trading at 0.6884 in Europe, down 0.82%. Australian employment data disappoints Australia's December employment report was weaker than expected, sending the Australian dollar sharply lower.

19-01-2023 05:05 GMT by Kenneth Fisher

Market Insights Podcast (Episode 421)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the Bank of Japan decision, UK inflation, and US retail sales.

19-01-2023 00:23 GMT by Craig Erlam

Recession bound, Yellen restarts talks with China, BOJ, oil higher, gold holds $1900, bitcoin weakens

US stocks declined after traders digested softer economic readings that are starting to raise growth concerns. The ‘bad news is good news’ rally ran out of steam as investors started to realize a recession is coming. US data A swathe of economic data confirmed that disinflation trends clearly remain in place. Recession-bound risks are rising after a larger-than-expected PPI decline, a major downshift in spending, and plunging industrial production. This round of falling PPI pressures comp

18-01-2023 14:30 GMT by Edward Moya

Australian dollar hits 5-month high on soft US data

The Australian dollar punched across the symbolic 70 line earlier on Wednesday, for the first time since August. The Aussie has given up all of these gains and is unchanged at 0.6986 in the North American session. US retail sales fall December didn't bring much cheer to retailers, as the traditional holiday season was a massive disappointment.

18-01-2023 11:52 GMT by Kenneth Fisher

Pound jumps as inflation eases

The British pound is in full flight upwards on Wednesday. In the North American session, GBP/USD is trading at 1.2393, up 0.86%. UK inflation slows UK inflation eased for a second straight month in December.

18-01-2023 09:09 GMT by Kenneth Fisher

Stubborn

Equity markets are marginally higher in Europe, with the Nikkei outperforming in Asia on the back of a much weaker yen. BoJ stands firm The Bank of Japan has decided to stand its ground against market forces that have forced it to purchase huge amounts of JGBs in order to defend its yield curve control upper band. Despite mounting speculation that it could be prepared to further tweak the tool or abandon it altogether, the central bank has stubbornly dug in its heals and seemingly prepared itsel

18-01-2023 05:59 GMT by Craig Erlam

Oil edges upwards, gold pushes higher

Continuing higher Oil prices are a little higher again on Wednesday trading around the peak we saw earlier this month. The optimism that's driving equity markets higher is filtering through to commodity markets as well, with the prospect of stronger growth in the world's two largest economies boosting demand expectations. A move back towards $90 in Brent would take us to levels not seen since early November and suggest traders are feeling much better about the global economic outlook.

18-01-2023 05:57 GMT by Craig Erlam

Japanese yen sinks as BoJ holds steady

The Japanese yen has fallen sharply on Wednesday. In the European session, USD/JPY is trading at 129.38, up 0.96%.

18-01-2023 05:29 GMT by Kenneth Fisher

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