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Limping into 2023

Another big year ahead though Stock markets are limping into 2023, with investors seemingly making the most of the festive break to refuel for what is going to be another wild year. Equities are a little lower on the final trading day of the year but broadly speaking, over the last week there has been no development, just choppy trading with no conviction or direction. It would appear investors are positioned for an opening quarter of significant uncertainty, which is about right. So much now

30-12-2022 12:16 GMT by Craig Erlam

Aussie finishes strong in 2022

The Australian dollar has been rising since last Friday and is in positive territory today. In the European session, AUD/USD is trading at 0.6801, up 0.37%. The final week of the year, bookended by Christmas and New Year's, is usually quiet, with reduced trading volumes and a very light economic calendar.

30-12-2022 06:56 GMT by Kenneth Fisher

Euro shrugs as Spain's inflation drops

It's the last trading day of 2022, and EUR/USD is almost unchanged in what should be a quiet day in the currency markets. In the European session, EUR/USD is trading at 1.0674, up 0.13%. Spain's CPI drops below 6% The week between Christmas and New Year's is usually very light on data, and there were no tier-1 events in Germany or the eurozone this week.

30-12-2022 06:10 GMT by Kenneth Fisher

Swiss franc touches 9-month high

The Swiss franc is steady on Friday. In the European session, USD/CHF is almost trading at 0.9240, up 0.08%.

30-12-2022 04:29 GMT by Kenneth Fisher

Euro higher as US jobless claims rise

We're seeing limited movement in the currency markets this week, which is not uncommon during the week between Christmas and New Year's. Trading volume remains thin and the data calendar is very light.

29-12-2022 10:49 GMT by Kenneth Fisher

British pound quiet as a mouse

The British pound has shown little movement since before Christmas and remains quiet on Thursday. This is not surprising as trading volumes are down during the holidays and there are few key events on the calendar this week.

29-12-2022 07:48 GMT by Kenneth Fisher

Oil falls, gold range-trading

Paring gains again Oil prices are dropping for a second day, erasing some more of the pre-Christmas rally amid uncertainty over the Chinese outlook and the limited impact of Russia's response to the G7 price cap. Volatility is likely going nowhere fast as we navigate another highly uncertain year, albeit one that surely promises plenty of surprises and twists and turns along the way. The US refilling the SPR should be supportive for the market and could have put a bit of a floor in place, althou

29-12-2022 06:51 GMT by Craig Erlam

Still drifting

We continue to drift into year-end with investors having little to cling onto that's going to drive markets one way or another. That is so often the case this time of year and while 2022 could have been different, given how chaotic the rest of the year has been, it has proven to not be the case. Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe.

29-12-2022 06:48 GMT by Craig Erlam

Japanese yen rebounds on BOJ purchases

The Japanese yen has posted gains on Thursday, putting the brakes on this week's dollar rally of over 1%. In the European session, USD/JPY is trading at 133.64, down 0.60%. This week has been marked by low liquidity, with many traders closing their books or taking a holiday at the end of the year.

29-12-2022 06:07 GMT by Kenneth Fisher

New Zealand dollar pares sharp gains

The New Zealand dollar has posted gains on Wednesday. In the North American session, NZD/USD is trading at 0.6306, up 0.49%.

28-12-2022 12:49 GMT by Kenneth Fisher

An eye on the New Year

We're seeing choppy trade in financial markets on Wednesday in what is always quite thin trade as traders continue the festivities into the new year. And there's certainly a strong sense of holiday trade to the markets today, with light news flow combined with lower liquidity creating choppy but ultimately insignificant moves. It very much feels like we're now just drifting into 2023 at which point I expect things will quickly pick up again. The key trading themes will continue to dominate in ea

28-12-2022 12:40 GMT by Craig Erlam

Swiss franc showing strength

Market activity is subdued on Wednesday in thin post-holiday trade. In the European session, USD/CHF is almost trading at 0.9280, down 0.14%. Over the final two months of the year, the Swiss franc has looked sharp against the US dollar.

28-12-2022 07:30 GMT by Kenneth Fisher

Yen extends losses after summary of opinions

The Japanese yen continues to lose ground this week and is in negative territory on Wednesday. In the European session, USD/JPY is trading at 134.11, up 0.49%. Post-Christmas holiday trading remains thin, but USD/JPY has made steady gains and climbed 1% this week.

28-12-2022 04:47 GMT by Kenneth Fisher

Japanese yen dips, inflation rises

US and Japanese markets are open on Tuesday, but trading remains thin after the Christmas holiday. There are some key Japanese events on the calendar, although US releases are all tier-2 events.

27-12-2022 12:21 GMT by Kenneth Fisher

Canadian dollar ends week with gains

Canadian and US markets are closed on Monday and we are seeing very little movement from USD/CAD at the start of the new trading week. Canada's GDP stays steady Ahead of the Christmas holiday, there was plenty of action on Friday. Canada's GDP remains steady, with a modest 0.1% gain in November, identical to the October release.

26-12-2022 12:03 GMT by Kenneth Fisher

Yen edges lower, Kuroda says no exit planned

With most financial markets closed on Monday, trading will be thin. Japanese markets are open and USD/JPY has edged higher, trading at 132.82, up 0.34%. Kuroda plays down yield curve move The Bank of Japan announced a policy change last week, and the ramifications were massive for the Japanese yen, as USD/JPY jumped as much as 4.8% following the move.

26-12-2022 06:23 GMT by Kenneth Fisher

Week Ahead - Happy Holidays!

US Thin trading conditions could persist as much of Wall Street will be taking off this week. While trading volumes might be lower it will be a week filled with lots of economic readings. There will be no earnings and no Fed speak. On Monday, US markets will be closed to observe the Christmas holiday. Tuesday contains several economic releases that are expected to show the economy is weakening. Wholesale inventories in November are expected to increase at a slower pace, both the October

23-12-2022 12:05 GMT by Edward Moya

Mid-Market Update: Mixed Economic Data keeps stocks volatile, Oil rallies as Russia hints at output cut, Gold rallies, Cryptos edge higher

US stocks pared earlier losses as traders digest a wide range of mixed economic data that overall supports the story that inflation is coming down. Wall Street had a tale of two rounds of economic readings. The first wave, before the opening bell showed CAPEX is weakening and softer consumer demand. The second round of data was rather upbeat as consumer sentiment improved and inflation expectations dropped even further. New Home Sales also unexpectedly improved, but no one is betting that th

23-12-2022 11:06 GMT by Edward Moya

Yen steady after core inflation as expected

The dust is beginning to settle after the Bank of Japan's stunning move earlier this week. At its policy meeting, the BoJ widened the yield curve on long-term bonds from 0.25% to 0.50%. The move blindsided the markets, which had anticipated a ho-hum BoJ meeting with no changes in policy.

23-12-2022 07:48 GMT by Kenneth Fisher

Canadian dollar eyes GDP, US data

The Canadian dollar has edged lower on Friday. In the European session, USD/CAD is trading at 1.3600, down 0.33%. We could see stronger movement from the Canadian dollar in the North American session, with key events in both Canada and the US.

23-12-2022 06:43 GMT by Kenneth Fisher

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