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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

Oil remains volatile, gold pares losses

The only guarantee for oil markets It's been a volatile start to the week in oil markets, continuing in much the same way we ended last, with traders still working through the announcements from the G7 and OPEC+, as well as the latest Covid moves from China. In many ways, none of the above improve visibility in the crude oil space; they arguably actually make the outlook more uncertain. But the intial response to the above has seemingly been negative for crude prices, with the loosening of Chine

06-12-2022 10:11 GMT by Craig Erlam

USD/CAD eyes Bank of Canada meet

The Canadian dollar is slightly lower on Tuesday. In the European session, USD/CAD is trading at 1.3620, up 0.24%. What does the Bank of Canada have planned? The Bank of Canada has been aggressive in its tightening, including a whopping full-point hike in July, which brought the cash rate to 2.50%.

06-12-2022 08:24 GMT by Kenneth Fisher

Aussie steadies as RBA hikes by 25 bp

The Australian dollar is in positive territory on Tuesday, after sustaining losses of 1.4% a day earlier. In European trade, AUD/USD is trading at 0.6721, up 0.35%. RBA raises cash rate by 25 bp The Reserve Bank of Australia lifted interest rates by 25 basis points, bringing the cash rate to 3.1%.

06-12-2022 04:30 GMT by Kenneth Fisher

ISM Service Index sends stocks lower, Crypto volatility

US stocks are declining as Wall Street debates whether this bear market rally has finally come to an end. With the exception of an inflation-fueled ISM Services index, it should be relatively on the data front until Friday’s one-two punch of PPI and the University of Michigan report.

05-12-2022 16:13 GMT by Edward Moya

Oil rallies post OPEC+/Russian price cap, gold tumbles

Oil Oil prices are rallying as OPEC+ has shown it is committed to keeping prices supported and on optimism China will continue to loosen Covid controls. Risk appetite on Wall Street is fading away and that might prevent crude prices from pushing much higher right now.

05-12-2022 16:03 GMT by Edward Moya

Euro dips lower on weak euro data

EUR/USD is steady at the start of the week. In the North American session, EUR/USD is trading at 1.0534, down 0.06%. The US dollar has been struggling and fell 1.5% against the euro last week.

05-12-2022 10:46 GMT by Kenneth Fisher

Market Insights Podcast (Episode 407)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the aftermath of the US jobs report, further reports of China loosening Covid restrictions, PMIs and how oil has responded to the G7 Russian oil price cap and OPEC+.

05-12-2022 10:06 GMT by Craig Erlam

USD/JPY roars back after solid NFP

The Japanese yen has been on an impressive streak but has dropped sharply on Monday. USD/JPY is trading at 135.83, up 1.13% on the day. Nonfarm payrolls boosts US dollar The US dollar is showing some signs of life, courtesy of Friday's US employment report, which was stronger than expected.

05-12-2022 10:01 GMT by Kenneth Fisher

A nervy start to the week

What could have been a really positive week for equity markets is off to a much more nervy start, with stocks in Europe treading water and US futures slightly lower. The US jobs report on Friday was red hot once more, extinguishing any hope that investors could hop aboard the Fed pivot train and ride stock markets higher into year-end. Perhaps it's not quite so dramatic but it was a real setback, something we should be used to by now. The wages component was the killer blow.

05-12-2022 09:02 GMT by Craig Erlam

Oil higher, gold retreats

Oil higher as China looks to ease Covid restrictions Oil prices are higher on Monday, rallying 2%, after the G7 imposed a $60 price cap on Russian oil and OPEC+ announced no new output cuts. Both bring a degree of uncertainty, with the details of the cap and the impact on Russian sales still unclear. From the OPEC+ perspective, it can't be easy to make reliable forecasts against that backdrop and the constantly evolving Covid situation in China, which currently looks far more promising from a de

05-12-2022 08:57 GMT by Craig Erlam

Australian dollar calm ahead of RBA

The Australian dollar has posted slight gains at the start of the trading week. AUD/USD is trading at 0.6801, up 0.10%. RBA likely to deliver 25-bp hike The Reserve Bank of Australia meets on Tuesday and is expected to hike by 25 bp for a third straight time.

05-12-2022 06:09 GMT by Kenneth Fisher

Market Insights Podcast (Episode 406)

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 nonfarm payroll report, what is driving the oil markets, and discuss Bitcoin resilience. They also discuss what the week ahead has in store for financial markets.

02-12-2022 13:59 GMT by Edward Moya

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