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OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discuss a surprisingly soft inflation report, crude oil drivers, and Bitcoin's resilience.

13-12-2022 15:12 GMT by Edward Moya

USD/JPY takes a tumble after soft CPI

The Japanese yen is sharply higher on Tuesday. In the North American session, USD/JPY is trading at 134.97, down 1.95%. US inflation underperforms again The US dollar is in broad retreat after US CPI was softer than expected.

13-12-2022 11:45 GMT by Kenneth Fisher

CPI React: Stocks surge on cool inflation report, bitcoin nears $18k

US stocks embraced a very cool inflation report that supports the idea that the Fed could be done with hiking rates after the February FOMC meeting. The Fed might not have to take rates to 5.00% or higher and that is surprising news for stock traders. Fed tightening is looking like it will just need a half-point increase tomorrow and a 25bp increase in February.

13-12-2022 10:34 GMT by Edward Moya

Oil rebound extends, gold shines

Oil Crude prices got a boost from a cool inflation report that supports the case that the US economy could still have a soft landing. The oil market can’t justify prices below the $70 level even if bumpy times are ahead. Disruptions from the Keystone Pipeline remind us how tight the oil market remains. China will struggle to deliver a complete reopening until early next year, but that demand outlook should start to improve soon. The OPEC monthly report noted that, “The year 2023 is e

13-12-2022 10:31 GMT by Edward Moya

Euro on hold ahead of US CPI

EUR/USD continues to have a quiet week and is unchanged on Tuesday, trading at 1.0538. US inflation expected to fall The currency markets have been calm today, but that could change in the North American session, with the release of the US CPI report. The consensus stands at 7.3%, following a 7.7% gain in October.

13-12-2022 07:23 GMT by Kenneth Fisher

Will US inflation shake up pound?

The British pound remains calm this week and is trading at 1.2286, up 0.20%. It is a busy week on the economic calendar, but GBP/USD isn't showing much interest. Today's UK employment data was within market expectations, which resulted in a muted reaction from sleepy sterling.

13-12-2022 05:48 GMT by Kenneth Fisher

Oil on the move, gold eyes CPI

Bouncing back Oil prices are advancing again on Tuesday, with Brent approaching $80 a barrel and WTI nearing $75. This comes amid further relaxations of Covid curbs in China, the threat of lower Russian output in response to the G7 price cap, an outage on the Keystone pipeline in the US, and the promise of US purchases around $70. That's a lot of supportive factors for the price even in what appears to be an environment tilted towards oversupply.

13-12-2022 04:42 GMT by Craig Erlam

All eyes on the CPI

Stock markets are tentatively higher in Asia while Europe and the US are poised for a similarly modest start to trade in what is the start of a hectic 72 hours in the markets. For so many weeks now, the December Fed decision has dominated the minds of traders, while sentiment in the markets has been dictated by how small changes in various data points influence the outcome of the meeting. When a meeting or event generates this much hype, it can often disappoint and be something of an anticlimax

13-12-2022 04:39 GMT by Craig Erlam

The waiting game, US CPI and FOMC meeting on tap, Yellen, Binance under the spotlight

It was supposed to be a very quiet stock market session ahead of a pivotal inflation report and the last FOMC meeting of the year. There was a lot of positive news to start the week and that helped push equities higher.

12-12-2022 15:46 GMT by Edward Moya

Oil rebounds, gold softens

Oil Crude prices are rising on hopes China’s demand situation will quickly improve and on concerns that supplies will be kept tight by both Russia and OPEC. China’s reopening is coming; it won’t happen overnight, but it will provide a major boost to demand in the outlook next quarter.

12-12-2022 15:41 GMT by Edward Moya

Oil volatile, gold choppy ahead of Fed

Oil volatility likely to continue Another volatile start to the week in oil markets, where Brent and WTI now find themselves around 3% higher on the day. This comes after WTI fell close to $70 a barrel, the level at which the White House previously indicated it will begin refilling the SPR which could provide some initial support for the price. The outage on the Keystone pipeline between Canada and the US could be offering further support for the price, as could renewed Russian threats to cut su

12-12-2022 13:00 GMT by Craig Erlam

EUR/USD steady, US inflation next

EUR/USD is almost unchanged on Monday, trading at 1.0537. Will US inflation report shake up euro? It has been a relatively quiet December for the EUR/USD, which hasn't veered far from the 1.0550 line. That could change this week, with key events out of the US.

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

USD/JPY dips lower as PPI jumps

The Japanese yen has started the week with losses. In the North American session, USD/JPY is trading at 137.44, down 0.64%. Japan's PPI almost unchanged at 9.3% Japanese wholesale inflation climbed 9.3% y/y in November, a drop lower than the 9.4% gain in October.

12-12-2022 11:41 GMT by Kenneth Fisher

AUD/USD drops, confidence data next

The Australian dollar has started the week in negative territory. In European trade, AUD/USD is trading at 0.6766, down 0.44%. Australian dollar eyes confidence releases Australian confidence indicators headed south in the most recent releases - will we see an improvement on Tuesday?

12-12-2022 07:41 GMT by Kenneth Fisher

Pound shrugs as GDP beats forecast

It promises to be a very busy week in the UK, with a host of key events on the calendar. Monday started on a positive note, as GDP for October climbed 0.5%, up from -0.6% in September and ahead of the 0.4% consensus. Investors will have plenty of data to digest, including employment, inflation, retail sales and the Bank of England rate decision.

12-12-2022 05:55 GMT by Kenneth Fisher

Week Ahead - Blockbuster end to the year

US Two blockbuster events will have Wall Street on edge as the disinflation trade may have gotten ahead of itself. The last major piece of economic news before the Fed meets will be the November inflation report which is expected to show pricing pressures are decelerating. The headline reading from a month ago is expected to rise 0.3%, a tick lower from the pace in October. On a year-over-year basis, inflation is expected to decline from 7.7% to 7.3%.

09-12-2022 15:53 GMT by Craig Erlam

Market Insights Podcast (Episode 409)

Jonny Hart looks back on the week's business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about a hot PPI report, the US Senate, and cryptos. They also discuss what the week ahead has in store for financial markets.

09-12-2022 12:48 GMT by Edward Moya

Mid-Market update: Stocks waver post PPI and UMich survey, oil jumps as Putin considers output cut, gold shines, bitcoin anchored at $17k

US stocks are settling higher after a mixed round of pricing data seemed unlikely to change what the Fed will do next week. Stocks are finishing a down week on a positive note as expectations remain high that the Fed will downshift to a slower pace. Inflation is heading lower but we won’t know for a couple quarters if more tightening will be required by the Fed. For now, investors appear confident that the Fed will stop tightening once the terminal rate peaks around the 5.00% to 5.25% levels.

09-12-2022 12:37 GMT by Edward Moya

GBP/USD edges higher, US PPI looms

The British pound has posted slight gains today. In the European session, GBP/USD is trading at 1.2257, up 0.32%. After a rather uneventful week for the US dollar, next week could be marked by plenty of action, with a host of key releases on both sides of the pond.

09-12-2022 07:15 GMT by Kenneth Fisher

Japanese yen eyes US PPI

The Japanese yen is in positive territory on Friday. In the European session, USD/JPY is trading at 135.92, down 0.57%. USD/JPY has been rather muted this week, with the exception of Monday, when the pair jumped 1.8%.

09-12-2022 06:36 GMT by Kenneth Fisher

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