The Japanese yen has posted strong gains for a third straight day. USD/JPY is trading at 138.43, down 0.82% on the day.
24-11-2022 12:21 GMT
by Kenneth Fisher
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OANDA Senior Market Analyst Craig Erlam talks about how gold responded to the release of the FOMC minutes.
24-11-2022 12:13 GMT
by Craig Erlam
OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the Fed minutes, BoK rate hike, Chinese lockdowns, and oil as the G7 finalise the Russian price cap.
24-11-2022 11:54 GMT
by Craig Erlam
The New Zealand dollar continues to gain ground this week. In the North American session, NZD/USD is trading at 0.6267, up 0.35%.
New Zealand will release retail sales for Q3 later in the day.
24-11-2022 11:28 GMT
by Kenneth Fisher
Equity markets are making steady gains in Europe and Asia on Thursday, while Wall Street is closed for the Thanksgiving bank holiday.
The day got off to a decent start as investors on this side of the pond played catch-up following the late rally in the US. All considered it hasn't been the most lively of weeks but the FOMC minutes did ensure investors went into the Thanksgiving break on a bit of a high.
A dovish boost before Thanksgiving
The most notable takeaway from the minutes - which were n
24-11-2022 09:06 GMT
by Craig Erlam
Oil tumbles amid price cap talks and stricter Chinese restrictions
Oil prices are a little lower again on Thursday as the G7 continues to work towards a price cap on Russian oil. Brent crude fell heavily on Wednesday amid reports that the group could settle on a level around $65 which is roughly where they currently sell it at, and with a sizeable profit.
24-11-2022 08:58 GMT
by Craig Erlam
EUR/USD is unchanged on Thursday, trading at 1.0393. With the US markets closed for the Thanksgiving holiday, we're unlikely to see much movement from the US dollar.
German business confidence edged slightly higher in November.
24-11-2022 06:30 GMT
by Kenneth Fisher
The British pound has steadied on Thursday, after soaring 1.4% a day earlier. In the European session, GBP/USD is trading at 1.2074, up 0.17%.
The pound has enjoyed a splendid November, gaining 5.3%.
24-11-2022 04:44 GMT
by Kenneth Fisher
The British pound has posted sharp gains on Wednesday. In the North American session, GBP/USD is trading at 1.2063, up 1.51%.
23-11-2022 11:14 GMT
by Kenneth Fisher
The Canadian dollar has edged lower on Wednesday. In the North American session, USD/CAD is trading at 1.3428, up 0.42%.
Is Canada heading towards a recession?
The Canadian consumer is in a sour mood.
23-11-2022 08:37 GMT
by Kenneth Fisher
The New Zealand dollar has extended its rally on Wednesday. In the European session, NZD/USD is trading at 0.6181, up 0.47%.
RBNZ delivers record hike
The Reserve Bank of New Zealand pushed the rate pedal to the floor today, with a supersize rate hike of 75 basis points, a record high.
23-11-2022 05:41 GMT
by Kenneth Fisher
Is an output hike really feasible?
Oil prices are marginally higher on Wednesday, continuing the recovery from a sell-off that was triggered by speculation that OPEC+ could consider a significant hike in output when it meets early next month. The move would certainly come as a surprise considering its two million barrel cut last month, the deteriorating global economic outlook, Chinese Covid restrictions, and the uncertainty around the Russian oil price cap.
Of course, the cap may be part of the
23-11-2022 03:46 GMT
by Craig Erlam
Equity markets appear to be treading water on Wednesday as we await the latest batch of FOMC minutes later in the day.
Asia played a bit of catchup overnight after Europe and the US posted decent gains on Tuesday that built throughout the session. But futures on both sides of the pond are barely changed from yesterday's close which may change as the day progresses, of course.
I'm not sure whether it's the FOMC minutes release, the Thanksgiving bank holiday, or just the lack of major catalysts th
23-11-2022 03:43 GMT
by Craig Erlam
US stocks are rallying as Wall Street continues to expect the Fed to downshift their tightening pace next month and on optimism that the risk of a railroad strike fueling inflation is low. The latest round of Fed speak did not teach us anything new.
22-11-2022 13:28 GMT
by Edward Moya
Oil
Crude prices are still rebounding from yesterday’s Saudi denial that OPEC+ was considering an output increase. Oil is having a tug-of-war with China's Covid demand concerns getting countered with what appears to be a motivated Saudi Arabia to keep the oil market tight.
White House official Hochstein said that the US can still manage any energy emergency with the SPR. He also noted that it will be opportunistic about refilling the SPR and that they could look to immediately repurchase oil w
22-11-2022 13:21 GMT
by Edward Moya
The Canadian dollar is in positive territory on Tuesday. In the North American session, USD/CAD is trading at 1.3400, down 0.39%.
Canada's retail sales decline
The Canadian consumer was not in a spending mood in September, as retail sales declined by 0.5%, following a 0.4% gain a month earlier.
22-11-2022 12:18 GMT
by Kenneth Fisher
As was to be expected, it's been a choppy week so far in financial markets with Europe a very mixed bag on Tuesday while US futures are marginally higher after making marginal losses on Monday.
On the one hand, we could be seeing investors warily waiting for the FOMC minutes and taking in all of the speeches from various Fed officials in the meantime. On the other, this week may just be a void in an otherwise turbulent year thanks to a lack of major catalysts and the US Thanksgiving bank holiday
22-11-2022 11:18 GMT
by Craig Erlam
OPEC+ speculation drives oil market volatility
Oil prices are bouncing back as OPEC+ members continue to reject reports of an output hike at the next meeting. An announcement from the G7 around the Russian oil price cap is due any day now and could complicate the group's mission to balance supply and demand in the market, especially if the Kremlin responds by slashing exports to participating countries, as they've threatened.
That Russia is a key member of the alliance seriously complicates matt
22-11-2022 11:11 GMT
by Craig Erlam
The New Zealand dollar has rebounded on Tuesday with strong gains. In the European session, NZD/USD is trading at 0.6151, up 0.83%.
Will RBNZ go all out?
The Reserve Bank of New Zealand has been tightening aggressively, delivering five straight 50-point hikes.
22-11-2022 07:31 GMT
by Kenneth Fisher
The Japanese yen has stabilized on Tuesday and is trading at 141.58, down 0.37%. USD/JPY rocketed higher on Monday, gaining 1.2%.
BoJ Core CPI jumps to 2.7%
With inflation continuing to gain traction in Japan, there shouldn't have been much surprise that BoJ Core CPI accelerated in October for a ninth successive month.
22-11-2022 04:26 GMT
by Kenneth Fisher