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Oil pares losses as price cap talks continue Oil prices are higher on Friday, continuing to pare losses after being hit heavily in recent weeks by surging Covid cases in China and discussions around the price cap on Russian crude. Lockdowns in all but name appear to be popping up in major Chinese cities in an attempt to get a grip on record cases which will weigh heavily on economic activity once more and in turn demand. It's now a question of how long they last but clearly investors' enthusiasm

25-11-2022 07:50 GMT by Craig Erlam

USD/JPY rises in subdued trading

USD/JPY has reversed directions and posted gains on Friday, after three straight losing sessions. The yen is trading at 139.39, up 0.54% on the day.

25-11-2022 05:53 GMT by Kenneth Fisher

NZD/USD down despite rise in retail sales

The New Zealand dollar has edged lower on Friday. In the European session, NZD/USD is trading at 0.6244, down 0.33%. Retail sales post modest gain It wasn't a spectacular rebound by any means, but New Zealand's retail sales showed a gain in Q3.

25-11-2022 04:31 GMT by Kenneth Fisher

Japanese yen extends rally

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

Gold - Jumps after dovish Fed minutes

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

Market Insights Podcast (Episode 402)

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

NZD/USD higher ahead of retail sales

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

A "dovish" boost

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 prices slip, gold higher after FOMC

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

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

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