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Fed React: Stocks slump on hawkish FOMC statement, dollar pares losses, Delta, oil rises, gold down post-Fed, cryptos pare gains

US stocks tumbled after the Fed downshifted to a half-point rate hike pace but signaled ‘ongoing increases’ will be appropriate to combat inflation. Risk aversion roared back and that helped the dollar pare earlier losses.

14-12-2022 14:39 GMT by Edward Moya

Japanese yen extends gains ahead of Fed

The Japanese yen continues to press higher against the US dollar on Wednesday. In the North American session, USD/JPY is trading at 135.08, down 0.38%.

14-12-2022 13:15 GMT by Kenneth Fisher

Aussie calm ahead of Fed, jobs data

The Australian dollar has posted slight gains on Wednesday. In North American trade, AUD/USD is trading at 0.6865, up 0.16%.

14-12-2022 10:10 GMT by Kenneth Fisher

Will the Fed deliver?

Equity markets are paring gains ahead of the Federal Reserve announcement on Wednesday, perhaps a little caution ahead of the final decision of the year. Today's announcement, forecasts, and commentary will set the scene for next year, in particular the first quarter which is still fraught with uncertainty over just how far the central bank will go. Policymakers have been clear this year that regaining control of inflation comes first, no matter the economic consequences. Of course, the two are

14-12-2022 08:34 GMT by Craig Erlam

Oil showing volatility, gold eyes Fed

Huge uncertainty for oil There remains immense uncertainty over the outlook for crude demand and supply which is leading to plenty of volatility in oil markets. The price has rebounded in recent days after WTI fell close to $70, the level at which the White House has previously indicated it will start refilling the SPR following a year of repeatedly drawing it down. With China finally navigating away from zero-Covid, which alone brings huge uncertainty for next year, the global economy slowing,

14-12-2022 08:27 GMT by Craig Erlam

NZD/USD awaits Fed, GDP

Federal Reserve expected to hike by 50 bp All eyes are on the Federal Reserve, which winds up its policy meeting later today. Policy makers are expected to raise rates by 50 basis points at this final meeting of 2022, with an outside chance of a more aggressive 75 basis point hike.

14-12-2022 07:23 GMT by Kenneth Fisher

Pound shrugs as UK inflation dips

There was good news on the UK inflation front, as the November data pointed to a drop in inflation. CPI fell to 10.7% y/y, down from 11.1% in October and below the consensus of 10.9%.

14-12-2022 04:23 GMT by Kenneth Fisher

Market Insights Podcast (Episode 410)

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

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