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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

Japanese yen's slide continues

The Japanese yen is sharply lower on Thursday. In the North American session, USD/JPY is trading at 133.90 down 0.93%. What a difference a few days can make.

05-01-2023 10:53 GMT by Kenneth Fisher

Oil pares losses, gold eyes NFP

A rough couple of days Oil is slightly higher on Thursday, paring losses from the last couple of days. Prices fell almost 10% over the last couple of days as China's efforts to rapidly transition away from its zero-Covid campaign led to a powerful surge in cases, threatening to disrupt activity in the opening months of the year. While most would agree that the move should lead to higher, more sustainable growth later in the year, the near-term outlook is clouded by the transition.

05-01-2023 10:32 GMT by Craig Erlam

Tech leading the way

It's been a mixed day of trade in Europe and the US is poised to open marginally lower as traders take a step back following a lively start to the year. The Fed minutes may have put a slight dampener on things although I'm not entirely sure. The narrative from the central bank is very much in line with what we should expect.

05-01-2023 10:29 GMT by Craig Erlam

Gold - A strong start to the year

OANDA Senior Market Analyst Craig Erlam discusses gold's start to the year and what it will take for it to be maintained.

05-01-2023 10:01 GMT by Craig Erlam

Euro calm as data calendar remains light

EUR/USD is almost unchanged on Thursday. The economic calendar is light, with no tier-1 events out of the eurozone.

05-01-2023 08:43 GMT by Kenneth Fisher

AUD/USD steadies after banner day

The Australian dollar has posted limited losses on Thursday. In the European session, AUD/USD is trading at 0.6822, down 0.17%. Australian dollar soars as China mulls coal imports The Australian dollar rocketed higher on Wednesday, rising 1.6% and hitting a 3-week high.

05-01-2023 05:23 GMT by Kenneth Fisher

Market Insights Podcast (Episode 415)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discussed what the latest ISM says about both manufacturing activity and the labor market, why oil prices are struggling to start the New Year, and the latest news with cryptos.

04-01-2023 13:46 GMT by Edward Moya

Stocks higher on mixed US data, ISM contracts again, JOLTS impress, Salesforce layoffs, Aussie rises,, bitcoin higher but still in range

US stocks edged higher as investors grew confident that the Fed is nearing the end of its tightening cycle as the manufacturing sector is clearly in a recession, while the labor market refuses to break. This stock market rally however might be short-lived as the ISM report and JOLTS data painted a picture of a resilient labor market that should force the Fed into taking rates even higher into restrictive territory.

04-01-2023 13:46 GMT by Edward Moya

Oil slides again, gold grooves on

Oil Oil is extending declines on concerns that China’s struggles with COVID are not going away anytime soon and as the global economic worries persist as central banks take rates into very restrictive territory. Crude is not getting extra demand this winter as warm weather spans across the US and Europe. Despite all this oil price weakness, the technicals, specifically driven by the Biden administration's intention to buy up crude at around the $70 level to refill the strategic petroleum r

04-01-2023 13:41 GMT by Edward Moya

Canadian dollar jumps as US Mfg. PMI slips

The Canadian dollar is sharply higher on Wednesday. In the North American session, USD/CAD is trading at 1.3492, down 1.29%.

04-01-2023 12:04 GMT by Kenneth Fisher

Oil takes a hit, gold extends rally

Slide continues amid uncertain China outlook Oil prices have tumbled again today, hit it seems by the uncertain near-term economic prospects for China amid surging Covid cases. While reliable data is seemingly hard to come by, the view appears to be that there'll be significant disruption in the coming months and then a recovery from around the middle of the year which should then boost demand. Brent has now slipped back below $80 a barrel while WTI has fallen below $75, with both now only aroun

04-01-2023 09:10 GMT by Craig Erlam

Growing Optimism?

Equity markets are pushing higher on Wednesday, buoyed by softer yields and some promising PMI revisions in Europe. It would appear investors are increasingly coming around to the idea that central banks will be forced into cutting rates earlier than previously anticipated in order to support the economy. That would also suggest they anticipate inflation will subside faster than previously thought which would be welcome if true after a year of overshoots. I'm sure this is a position that will ch

04-01-2023 09:08 GMT by Craig Erlam

GBP/USD pushes above 1.20

The British pound has bounced back on Wednesday and recorded sharp gains. In the European session, GBP/USD is trading at 1.2055, up 0.74%. Food inflation jumps Ask any British consumer, and they'll tell you that food prices have been going through the roof.

04-01-2023 07:35 GMT by Kenneth Fisher

Euro rebounds as German inflation falls

After a dreadful showing on Tuesday, EUR/USD has rebounded today. In the European session, the euro is trading at 1.0618, up 0.66%. Investors eye German CPI German CPI was lower than expected in December.

04-01-2023 04:56 GMT by Kenneth Fisher

A tough year ahead, betting on China, Tesla disappointing deliveries, happy birthday bitcoin!

US stocks were unable to hold onto earlier gains as restrictive policy and recession fears remained front and center for investors. Discount buying triggered another bear market rebound that didn’t last long at all.

03-01-2023 15:05 GMT by Edward Moya

Oil struggles, gold’s great start

Oil Oil prices are tumbling as risk aversion sends the dollar higher and dampens expectations that the crude demand outlook will improve anytime soon. China’s reopening has too many question marks as hospitals are overwhelmed and medical supplies run low. Crude prices could struggle here as a strong dollar could be here to stay as investors can’t pass up the yield they are getting in fixed income. Manufacturing activity globally mostly appears to be stuck in contraction territory and that mi

03-01-2023 14:58 GMT by Edward Moya

EUR/USD slides to three-week low

The US dollar is showing strong gains against the majors on Tuesday, with the exception of the Japanese yen. EUR/USD has tumbled by 1.27% and is trading at 1.0528 in Europe. Investors eye German CPI EUR/USD is sharply lower today, despite a very light economic calendar.

03-01-2023 07:14 GMT by Kenneth Fisher

Japanese yen breaks below 130

The Japanese yen has posted winning sessions for three straight days and is in positive territory on Tuesday. Japanese markets are closed today for a holiday, so any strong movement from the yen is unlikely today. It's a very light day on the economic calendar.

03-01-2023 05:43 GMT by Kenneth Fisher

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