All Articles

NZD/USD yawns as Manufacturing Sales shines

It has been a generally muted week for the New Zealand dollar, save for Monday, when it fell by 1.3% in the aftermath of the strong US employment report. With a light economic calendar this week in both the US and New Zealand, the markets are casting an eye to next week, which is loaded with key events.

09-12-2022 04:54 GMT by Kenneth Fisher

Stocks poised to snap 5-day losing streak, Jobless Claims, Bitcoin seesaws around $17,000

US stocks are rebounding as investors await a key round of pricing data points that could tilt the scales over how much more tightening the Fed will do in the February policy meeting. It looks like this losing streak for stocks will end not because of positive catalysts but on exhaustion from this 5-day losing streak. Jobless claims didn’t really tell us anything new but some investors were excited over an analyst upgrade given to Boeing’s stock. Wells Fargo increased their Boeing price targ

08-12-2022 14:07 GMT by Edward Moya

Oil pops on Keystone Pipeline leak, gold edges higher

Oil Crude prices spiked higher after the Keystone Pipeline was shut after a leak in Nebraska. Earlier, Tribeca Shipping Agency reported 19 oil tankers are still awaiting passage through Turkey’s Bosphorus Strait.

08-12-2022 14:01 GMT by Edward Moya

Market Insights Podcast (Episode 408)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss how markets have traded this week, the Hang Seng's outperformance today, and oil.

08-12-2022 12:05 GMT by Craig Erlam

NZD/USD extends gains ahead of Mfg. Sales

The New Zealand dollar is slightly higher on Thursday. In the North American session, NZD/USD is trading at 0.6376, up 0.34%. New Zealand manufacturing in trouble New Zealand's manufacturing sector is showing signs of strain, as high costs and hiring challenges in a tight labour market remain key problems.

08-12-2022 11:54 GMT by Kenneth Fisher

US stocks dip ahead of the Fed

OANDA Senior Market Analyst Craig Erlam discusses the recent performance of US stocks in light of another hot jobs report and ahead of the final Fed meeting of the year.

08-12-2022 11:48 GMT by Craig Erlam

GBP/USD steady, inflation expectations next

The British pound is in negative territory on Thursday. In the European session, GBP/USD is trading at 1.2174, down 0.29%.

08-12-2022 07:48 GMT by Kenneth Fisher

USD/CAD yawns after BoC surprise

Bank of Canada surprises with 50 bp hike The Bank of Canada delivered a second straight 50-bp hike on Wednesday, which brought the cash rate to 4.25%. The markets had been split on whether the BoC would raise by 50 bp or 25 bp, pricing in 33 bp ahead of the decision.

08-12-2022 06:15 GMT by Kenneth Fisher

Oil under pressure, gold eyes Fed meeting

A floor in oil prices? Oil prices remain under pressure as traders continue to price in a slower global economy next year and the prospect of deeper recessions. China's efforts to reduce restrictions are probably preventing a much steeper decline in the oil price, although this won't be without disruption as Covid spreads like wildfire throughout the country after such a long period of zero-Covid measures. Then there's also the pledge by the White House to restock the SPR once oil falls to aroun

08-12-2022 05:15 GMT by Craig Erlam

A bit flat

Equity markets look a little flat on Thursday, perhaps a sign that we've entered into a waiting period ahead of some major data releases and central bank meetings. This month was always effectively split into two dominant weeks, the first of the month which included the jobs report that proved extremely impactful. And then next week when we get a flurry of interest rate decisions and some big data releases.

08-12-2022 05:11 GMT by Craig Erlam

Stocks lower on rising risks, Putin talks nuclear, Warnock wins, cryptos decline

US stocks declined as investors fixated over how bad of a recession will hit the US economy and weighed on geopolitical risks. The economy is entering slowdown mode as final Q3 nonfarm productivity data was revised higher and labor costs were significantly revised lower. Yield curve inversion deepens and nears a four-decade low which is clearly setting up this economy for a recession that won't be a mild one.

07-12-2022 15:30 GMT by Edward Moya

Oil lower, gold shines

Oil Crude prices declined as energy traders quickly abandoned bullish bets that we will see a price spike once the Russian cap on crude oil would be put in place. It seems oil markets are only caring about a steady deterioration with the demand outlook. The latest EIA crude oil inventory report showed inventories dropped less than expected and exports tumbled. Exports fell 30%, which is the lowest level since October. Gasoline inventories are rising as demand struggles. This report shows

07-12-2022 15:24 GMT by Edward Moya

The end of the bear-market rally?

Equity markets are struggling again on Wednesday, with the latest Chinese trade data highlighting the challenges facing the global economy going into 2023. It would appear the recovery in stocks - bear-market rally, or otherwise - has run out of steam, and investors are left wondering whether what follows next is another test of the lows or simply a correction of that impressive two-month surge. The difficulty investors have now is balancing the coming end of the tightening cycle with a potentia

07-12-2022 10:36 GMT by Craig Erlam

Oil under pressure, gold eyes PPI

Will $70 be a floor in oil? There's been a lot to absorb for oil traders over the last week, some of which have created more questions than answers. The trade data from China was obviously another blow as it pointed to weakening global demand, as has become the norm from manufacturing and trade data around the world recently.

07-12-2022 10:26 GMT by Craig Erlam

Aussie shrugs off soft GDP

The Australian dollar is showing limited movement for a second successive day. In European trade, AUD/USD is trading at 0.6696, up 0.12%. Australia's GDP misses forecast Australia's economy underperformed in Q3, with a modest gain of 0.6% m/m.

07-12-2022 08:33 GMT by Kenneth Fisher

All eyes on the Bank of Canada

The Canadian dollar has edged lower on Wednesday. In the European session, USD/CAD is trading at 1.3686, up 0.25%.

07-12-2022 05:55 GMT by Kenneth Fisher

Stocks down on recession worries, Apple Car delays, bitcoin flat

US stocks edged lower on recession worries and as more CEOs voice concerns about the downturn that is coming. Layoff announcements are becoming more noticeable as Morgan Stanley is expected to cut about 2% of its global staff and BuzzFeed announced plans to reduce its workforce by 12%. Goldman Sachs CEO Solomon warned of ‘bumpy times’ and that activity levels will likely be constrained in a ‘tougher economic environment.’ JPMorgan CEO Dimon focused on the possibility of a ‘mild to hard’ rece

06-12-2022 16:28 GMT by Edward Moya

Oil tumbles, gold's safe-haven status

Oil Crude prices tumbled as recession worries dominated the headlines and as the oil market lost its tightness. It seems to have happened quickly but the crude demand outlook is getting crushed as we are in a slowdown basically across all the major economies. Supplies seem plentiful over the near-term and that has everyone hesitating on what was one of the easiest trades of the year. Energy traders are not confidently buying dips, but they will if the current selloff sends prices close to

06-12-2022 16:26 GMT by Edward Moya

Pound edges higher

The British pound has recovered after starting Tuesday with losses. In the North American session, GBP/USD is trading at 1.2247, up 0.40%. The US dollar is finally showing some improvement this week after a recent rough spell against the pound.

06-12-2022 11:20 GMT by Kenneth Fisher

Wind out of the sails

Stock markets are making small losses on Tuesday, while US futures are relatively unchanged ahead of the open. The recovery rally has lost momentum in recent sessions which is understandable after that jobs report. That's not to say optimism can't and won't return but that wages component was a huge body blow.

06-12-2022 10:14 GMT by Craig Erlam

All news & analysis