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Euro rally fizzles in quiet holiday trade

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

Pound steadies after sterling performance

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

Sterling soars despite soft PMIs

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

USD/CAD eyes Macklem, FOMC

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

NZD/USD rises after RBNZ's jumbo hike

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

Oil ticks higher, gold eyes FOMC minutes

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

Awaiting the Fed minutes

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

Stocks rise on downshift hopes, Dollar lower for now, Best Buy brings holiday cheer, US data, Gold rebound faded, Crypto benefits from Wall Street rally

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 prices rebound, gold

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

USD/CAD rises as retail sales slip

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

Filling the void

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

Oil rebounds, gold gains ground

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

NZD dollar bounces back ahead of RBNZ meet

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

Yen steadies as inflation rises

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

Market Insights Podcast (Episode 401)

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart. They discuss the trading conditions during World Cup games, China's COVID situation, a potential rail strike in the US, and cryptos.

21-11-2022 22:13 GMT by Edward Moya

USD/JPY jumps to 142, BOJ Core CPI next

The Japanese yen is getting pummeled at the start of the trading week. In the North American session, USD/JPY is trading at 141.90, up 1.09%. Will BoJ Core CPI continue its upswing? Japan releases BoJ Core CPI, the Bank of Japan's preferred inflation indicator later today. The indicator has accelerated for eight consecutive months, as inflation continues to move higher.

21-11-2022 12:42 GMT by Kenneth Fisher

Stocks lower on China and rail strike concerns, King dollar returns, bitcoin tries to hold onto $16k

US stocks are lower as the global growth picture takes a hit following key China Covid lockdowns and as the US economy could have to deal with a massive rail worker strike before the holidays. Adding to the risk aversion tone are rising concerns that future Russian attacks on Ukraine’s nuclear power supply could be catastrophic. Wall Street is hesitant to buy up risk assets on this World Cup-filled and shortened holiday trading week as the first wave of headlines from Beijing to a rail union v

21-11-2022 11:05 GMT by Edward Moya

Crude crushed, gold stumbles

Oil Crude prices remain heavy as China continues to have setbacks with its COVID fight. The warnings from key Chinese officials are the primary driver behind oil’s current slump.

21-11-2022 10:54 GMT by Edward Moya

Aussie extends slide

The Australian dollar has posted losses over three straight days and is sharply lower on Monday. In the North American session, AUD/USD is trading at 0.6610, down 0.96%. RBA shifts gears The Reserve Bank of Australia has changed course and eased up the pace of hikes, but with inflation still accelerating, is it too soon?

21-11-2022 09:03 GMT by Kenneth Fisher

Euro drops below 1.03 as risk aversion climbs

EUR/USD has resumed its downswing and is in negative territory on Monday. In the North American session, the euro is trading at 1.0238, down 0.81%. The ECB holds its final policy meeting of the year on December 15th, and it's practically a given that the ECB will raise rates.

21-11-2022 07:46 GMT by Kenneth Fisher

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