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Mid-Market Update: A busy earnings start, Sentiment Rebounds, Tesla woes remain, Oil’s good week, Gold shines, Crypto breakout?

US stocks were initially softer after the banks delivered a disappointing start to earnings season along with a downbeat outlook for the economy. Stocks are heading lower as Wall Street anticipates earnings will decline significantly and margins will be tested. This is the quarter that companies will announce layoffs and cost-cutting measures as the economy still appears to be recession-bound. Stocks pared losses after consumer sentiment rose to a 9-month high. Plunging gas prices were a k

13-01-2023 11:14 GMT by Edward Moya

Earnings to spoil the party?

It's been another lively week in financial markets and one in which investors have become increasingly hopeful that 2023 won't be as bad as feared. In a way, the week started with the jobs report the Friday before as it was this that enabled the enthusiasm to build. The labour market has been a major barrier to optimism as the Fed was never going to pivot quickly unless there were signs in the labour market that slack was building and wages cooling.

13-01-2023 07:49 GMT by Craig Erlam

Optimism boosts oil and gold

Will economic optimism be spoiled? Oil prices are on the rise again on Friday, buoyed by renewed optimism on interest rates. The fact remains that the first half of the year, at least, will be enormously challenging for the global economy but lower terminal rates and even cuts later in the year will cushion the blow and could see it outperform current expectations.

13-01-2023 07:36 GMT by Craig Erlam

Australian dollar edges lower

The Australian dollar has edged lower on Friday, after jumping close to 1% a day earlier. In the European session, AUD/USD is trading at 0.6950, down 0.26%. US inflation slows in December US inflation was expected to fall in December and there were no surprises.

13-01-2023 07:27 GMT by Kenneth Fisher

Canadian dollar showing strength

The Canadian dollar has edged higher on Friday. In the European session, USD/CAD is trading at 1.3341, down 0.20%.

13-01-2023 06:22 GMT by Kenneth Fisher

GBP/USD edges higher as GDP outperforms

The British pound is slightly higher on Friday. GBP/USD is trading at 1.2234, up 0.24%.

13-01-2023 04:25 GMT by Kenneth Fisher

Market Insights Podcast (Episode 418)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the latest US inflation data, what it means for interest rates and the impact it had on financial markets.

12-01-2023 16:37 GMT by Craig Erlam

Dollar slips after inflation data

OANDA Senior Market Analyst Craig Erlam discusses EURUSD in the aftermath of the US inflation data.

12-01-2023 16:26 GMT by Craig Erlam

Volatile session after another cool CPI report, Fed’s Harker/Collins support another downshift, Claims suggest labor still too strong, Oil rallies on weaker dollar, Gold tests $1900, Bitcoin nears $18,500

US stocks initially rallied as inflation continues to ease and as Fed members are clearly signaling a smaller tightening pace going forward. The dollar also headed lower as a subdued inflation report should let the Fed slow their hiking pace again. It became clear fairly quickly that stocks would not hold onto initial gains as we will likely remain being data-dependent going forward. The labor market is still hot and much of the relief we saw with energy prices appears to be going away this mon

12-01-2023 10:28 GMT by Edward Moya

GBP/USD drifting, UK GDP next

The British pound is drifting for a third straight day. In the European session, GBP/USD is trading at 1.2161, down 0.09%.

12-01-2023 07:06 GMT by Kenneth Fisher

Japanese yen jumps on BoJ report

The Japanese yen has awoken from this week's slumber and is sharply higher on Thursday. In the European session, USD/JPY is trading at 130.96, down 1.16%. BOJ may be planning review of policy The BOJ has been in the headlines since the December meeting when it widened the band around its 10-year bond yield target.

12-01-2023 05:02 GMT by Kenneth Fisher

Will the inflation report deliver?

European equity markets opened cautiously higher on Thursday, following a mixed session in Asia amid nerves around the US inflation release later in the day. This inflation print has been the main topic of conversation all week. The jobs report last Friday changed the dynamic in the markets and ensured that not only was this CPI report going to be important but in all likelihood pivotal ahead of next month's Fed meeting. We've gone from inflation declining but the labour market being stubbornly

12-01-2023 04:12 GMT by Craig Erlam

Oil prices steady, gold eyes US inflation

Oil steadies as traders grow more optimistic Oil prices have steadied this morning after recovering strongly on Wednesday. Enthusiasm is building in the aftermath of last week's jobs report and a positive inflation reading today could further fuel that.

12-01-2023 04:06 GMT by Craig Erlam

Oil shrugs off massive build, gold awaits CPI data

Oil Energy traders should get used to seeing oil prices head higher. Oil demand is coming back and expectations are high that China’s demand is about to skyrocket.

11-01-2023 14:57 GMT by Edward Moya

Calm before inflation storm, air travel got grounded, is WWE the next meme stock? Crypto softens

US stocks are drifting higher as optimism remains intact that a pivotal inflation report will continue to show disinflation trends remain in place. Right now might be the calm before the inflation storm as we are not seeing major positioning ahead of this CPI report.

11-01-2023 14:54 GMT by Edward Moya

Japanese yen edges lower

The Japanese yen continues to have a quiet week. USD/JPY has edged up 0.20% and is trading at 132.50. Markets await US inflation report There is optimism in the air ahead of the US inflation report for December.

11-01-2023 11:55 GMT by Kenneth Fisher

Oil and gold jump ahead of inflation report

Buoyed by economic optimism Investor optimism going into tomorrow's US inflation report appears to be feeding through to the oil market, with Brent and WTI both up more than 2% on the day. It will be interesting to see if they can hold onto those gains considering how they've failed to do so over the last four days.

11-01-2023 11:21 GMT by Craig Erlam

All eyes on the inflation report

Investors remain in an upbeat mood going into tomorrow's US inflation report, buoyed still by the December jobs report and the prospect of the economy being less squeezed by interest rates. Fed Chair Jerome Powell may have refrained from commenting on the monetary policy outlook on Tuesday but the chances are he wouldn't have said anything investors would have liked even if he had addressed it. It's been clear from other commentaries that policymakers are sticking to the hawkish script. Another

11-01-2023 11:16 GMT by Craig Erlam

EUR/USD close to 6-month high

The euro is drifting on Wednesday, trading at 1.0730. EUR/USD has climbed about 1% this week, and Monday's high of 1.0760 is its highest level since June 22nd.

11-01-2023 07:18 GMT by Kenneth Fisher

Australian dollar shrugs as CPI jumps

The Australian dollar is trading quietly on Wednesday. AUD/USD is at 0.6904, up 0.14%. Australian CPI climbs to 7.3% Australian inflation pushed higher in November, rising to 7.3% following a 6.9% gain in October.

11-01-2023 04:18 GMT by Kenneth Fisher

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