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European stock markets are softer in early trade on Tuesday following a similar session in much of Asia as investors turn more cautious ahead of Thursday's US inflation data. The commentary from Fed officials at the start of the week was more hawkish than what investors wanted to hear following a knockout jobs report. Considering the rhetoric in the weeks leading up to Friday, it shouldn't have come as a great surprise that policymakers are sticking to the "higher for longer" narrative. There ha

10-01-2023 06:57 GMT by Craig Erlam

Euro rally fizzles after hawkish Fedspeak

The euro has run out of steam, after an impressive two-day rally that lifted EUR/USD by 2%. On Tuesday, the euro is unchanged at 1.0734. There are no major releases out of Europe or the US today, which could mean a quiet day for the euro.

10-01-2023 06:05 GMT by Kenneth Fisher

Japanese yen yawns as inflation hits 4%

The Japanese yen continues to have a quiet week. USD/JPY is showing little movement on Tuesday, trading at 131.84. Tokyo Core CPI hits 4.0% Tokyo Core CPI, a key inflation indicator, was higher than expected and in December hit 4.0% for the first time since 1982.

10-01-2023 04:01 GMT by Kenneth Fisher

Market Insights Podcast (Episode 417)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed Brazil's riots, China's reopening momentum and the impact on oil prices, and the recent outperformance some blockchain protocol cryptos are having over Bitcoin and Ethereum.

09-01-2023 15:04 GMT by Edward Moya

Stocks rally on soft landing hopes, Goldman Layoffs, oil rallies on China optimism, gold higher, Solana impresses

US stocks are rallying as soft-landing hopes grow ahead of this week’s key CPI report that should show disinflation trends remain intact. Wall Street is pricing in the Fed to be one and done with tightening and possibly cutting rates at the end of the year. Today’s risk-on rally for stocks got a boost from a weaker dollar and optimism that China’s reopening was gaining steam. Corporate headlines are showing consistent stories of a weakening consumer which should help bring down inflation.

09-01-2023 14:27 GMT by Edward Moya

Oil rallies on China optimism, gold higher

Crude prices are rallying as China’s borders open, refiners get big quotas, and as the dollar slides. Chinese hopes for an improving reopening from Covid could help propel oil prices much higher. Oil’s downward trend was approaching critical support, so energy traders were eagerly looking for any reason to jump back into the oil trade. The macro environment seems like it is improving and that should help keep oil’s rally going. If the soft landing actually happens, oil might trade closer to

09-01-2023 14:21 GMT by Edward Moya

Continuing encouragement

The year got off to a promising start last week, buoyed by a goldilocks jobs report that left investors in a good mood going into another interesting period. Last week's jobs report ticked every box. Jobs growth was good but not too much, participation improved, wage growth moderated and revisions to the November data eradicated any fears that the report initially triggered.

09-01-2023 12:32 GMT by Craig Erlam

Euro extends rally as inflation sinks

The euro is on a tear, climbing almost 2% since Thursday. Earlier today, EUR/USD rose to 1.0731, its highest level in a month. Eurozone inflation falls sharply Germany and other eurozone members recorded lower inflation in December, and eurozone inflation was expected to also soften.

09-01-2023 09:25 GMT by Kenneth Fisher

USD/JPY eyes inflation, household data

The Japanese yen is calm on Monday and is trading slightly higher, at 132.27. The yen ended the week on a strong note, posting gains of about 1% on Friday. USD/JPY has shown significant volatility since late December.

09-01-2023 06:10 GMT by Kenneth Fisher

Canadian dollar flies on superb jobs report

The Canadian dollar has extended its gains on Monday, after climbing close to 1% on Friday. In the European session, USD/CAD is trading at 1.3396, down 0.35%. Canada creates over 100K jobs The final employment report of 2022 was a winner.

09-01-2023 04:17 GMT by Kenneth Fisher

Market Insights Podcast (Episode 416)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the US jobs report, energy prices, eurozone inflation data and what to watch out for next week.

06-01-2023 14:39 GMT by Craig Erlam

Week Ahead - Inflation remains key

This week’s main event will be when a little inflation report comes out. The US CPI report for December is expected to show disinflation trends remain firmly in place. The year-over-year CPI reading is expected to cool from 7.1% to 6.6%, while the monthly reading is expected to remain flat.

06-01-2023 12:45 GMT by Craig Erlam

NFP React: Stocks rise on strong jobs report and slowing wage pressures, ISM Services contract, oil rises, gold higher as Fed hiking job almost done, crypto pares losses

US stocks initially rallied after the NFP report showed the labor market remains strong and as wage price spiral risks are easing. The Fed will stay on their tightening course but risks of more hikes in the Spring are easing as optimism is growing that wage pressures will continue to drop. Stocks are getting a boost here as Fed rate hike bets get slashed, but earnings risks should keep the gains somewhat limited. The focus will shift to next week’s inflation report and traders should not be sur

06-01-2023 10:15 GMT by Edward Moya

Treading water

Markets are treading water ahead of the release of the first jobs report of the new year, with investors very aware of just how important this could be after last month's setback. The November report contained everything the Federal Reserve did not want to see. Strong jobs growth - with upward revisions to prior releases - much higher wages than anticipated and weaker participation.

06-01-2023 07:38 GMT by Craig Erlam

Oil inches higher, gold eyes NFP

Steadying after a rough week Oil prices are creeping higher again this morning after steadying on Thursday. They came under some pressure over the previous 48 hours amid concerns about China's economy over the next quarter or two.

06-01-2023 07:32 GMT by Craig Erlam

Sterling slips as Construction PMI falters

The British pound has extended its losses on Friday. In the European session, GBP/USD is trading at 1.1847, down 0.52%. Construction PMI declines It has been a tough start to the year for the pound, which is down 2% against the dollar this week and is trading at 6-week lows.

06-01-2023 07:17 GMT by Kenneth Fisher

USD/CAD eyes Canada, US job reports

The Canadian dollar has edged lower on Friday. In the European session, USD/CAD is trading at 1.3620, up 0.36%.

06-01-2023 05:28 GMT by Kenneth Fisher

Euro on hold ahead of Eurozone CPI

It has been a busy week for EUR/USD, although the currency is unchanged on Friday. We could see some volatility before the weekend, with the release of the eurozone inflation and US employment reports. Eurozone CPI expected to fall Market participants and ECB policy makers are eagerly awaiting December's eurozone inflation report.

06-01-2023 04:07 GMT by Kenneth Fisher

Oil rebounds, gold falls as pressure remains on Fed

Oil Crude prices were due for a rebound after one the worst starts of a year. It’s been a few decades since oil had this bad of a start and energy traders jumped all over the news that the Colonial Pipeline had to halt operations after a leak occurred.

05-01-2023 15:38 GMT by Edward Moya

Stocks decline post hot labor data, Amazon layoffs, ADP/Claims/Challenger impress, bitcoin flat

US stocks are declining after Wall Street digested hawkish Fed minutes, robust labor data, and another round of Fed speak that suggests they will hold rates at higher levels. This latest round of data confirms the Fed's messaging that more rate hikes are coming.

05-01-2023 15:33 GMT by Edward Moya

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