All Articles

Stocks lower post earnings and Fed speak, Micron/Target results, FTX contagion hits Genesis

US stocks declined after a disappointing round of earnings, retail sales topped expectations which suggests the economy can handle more rate hikes, and some hawkishness from Fed’s Daly and Williams. Fed’s Daly noted that 4.75% to 5.25% is a reasonable range for the Fed to raise interest rates, which is a little higher than what money markets are pricing in.

16-11-2022 15:15 GMT by Edward Moya

Australian dollar dips as wages jump

The Australian dollar is in negative territory on Wednesday. In the North American session, AUD/USD is trading at 0.6732, down 0.34%. Australia's wage growth climbs Australia's labour market has been tight for months, with unemployment at a 50-year low of 3.5% and not enough people to fill job vacancies. This has put pressure on wages, and the dam finally burst today as wage growth posted its largest quarterly gain since 2012.

16-11-2022 12:14 GMT by Kenneth Fisher

Oil steadies, gold eyes resistance

Oil steadies after strikes in Poland Oil prices are softer on Wednesday after a brief bout of volatility late Tuesday following reports of missile strikes in Poland. That unsurprisingly jolted financial markets, sending oil prices higher initially, but that quickly settled and crude prices are now back where they were before. It goes without saying that any significant escalation in the war in Ukraine will likely add a substantial risk premium to oil prices, with Russia being a major producer an

16-11-2022 11:39 GMT by Craig Erlam

US consumer remains strong

Equity markets in Europe are back in the red on Wednesday, while the US looks largely unchanged around the open on Wall Street. Reports of missile strikes in Poland on Tuesday naturally caused a shudder in the markets. The prospect of a sudden and unexpected escalation in the war in Ukraine, particularly involving a NATO state, doesn't bear thinking about but we were almost forced to, and under the circumstance, the reaction was fairly modest. It could have been much worse but investors appear t

16-11-2022 11:35 GMT by Craig Erlam

Canadian dollar steady ahead of inflation

The Canadian dollar has edged lower on Wednesday, trading at 1.3254, down 0.18%. Canadian dollar eyes inflation The Canadian dollar has performed well in the month of November, with gains of 2.7%. The unexpectedly soft inflation report out of the US ignited risk appetite, sending equities soaring and the US dollar sharply lower.

16-11-2022 07:33 GMT by Kenneth Fisher

Pound rises even as inflation tops 11%

The British pound has moved higher on Wednesday. In the European session, GBP/USD is trading at 1.1934, up 0.56%.

16-11-2022 05:19 GMT by Kenneth Fisher

Stocks volatile after PPI cools and Russian missiles crossed into Poland, BlockFi the next crypto domino to fall

US stocks initially rose after an economic report showed inflation is cooling and after Walmart’s earnings provided optimism this was still going to be a decent holiday season. It was a busy morning with economic data and earnings, but the overall take is that a soft landing still seems possible. Stocks tumbled after reports that Russian missiles crossed over into Poland. This is a significant escalation as Poland is a NATO state.

15-11-2022 15:20 GMT by Edward Moya

Oil rises on geopolitical angst, gold steady but faces strong resistance at $1800

Oil Crude prices remain volatile as energy traders digest another round of economic data that supports the idea that the Fed could still deliver a soft landing and as stockpiles remain near 18-year lows. Earlier crude was lower as Beijing struggles with surging Covid cases. Also what’s keeping the oil market on edge is the proposed price cap on Russian crude. Some analysts expect only a modest drop in Russian production but we won’t find that out until next month. Oil surged after reports

15-11-2022 15:16 GMT by Edward Moya

Japanese yen rises despite GDP decline

The Japanese yen hit its highest level since August 29th, as the currency powers higher. In the North American session, USD/JPY is trading at 139.17, down 0.53%. The US dollar can't find its footing, and even a soft GDP reading out of Japan hasn't put a dent in the current yen rally.

15-11-2022 11:30 GMT by Kenneth Fisher

Pound soars despite weak job data

The British pound has reversed directions on Tuesday and posted sharp gains. In the European session, GBP/USD is trading at 1.1902, up 1.22%.

15-11-2022 08:05 GMT by Kenneth Fisher

Australian dollar powers higher

The Australian dollar continues to gain ground and hit a two-month high earlier today. In the European session, AUD/USD is trading at 0.6756, up 0.85%. RBA to limit forward guidance The Reserve Bank of Australia minutes noted that the use of forward guidance had been useful during the Covid pandemic, but it would no longer remain a tool unless "appropriate".

15-11-2022 05:35 GMT by Kenneth Fisher

BoE facing tough decisions

Equity markets are looking slightly positive in early trade on Tuesday, adding to modest gains at the start of the week. While the rally is perhaps slowing a little after the strong gains of recent weeks, there doesn't appear to be much appetite at this stage to bail on it. Perhaps the experience of the last year and the huge declines in equity markets have left investors seeing substantial value and they've become excited at even the prospect of a bull run.

15-11-2022 04:20 GMT by Craig Erlam

Oil flat, gold hits key resistance

Oil treading water Oil prices are basically flat on Tuesday, sitting a little below the middle of their recent trading ranges as traders continue to weigh up the global economic outlook, OPEC+ production risks, and China's Covid approach. Prices remain choppy and that's likely to remain the case given the ongoing uncertainty around these key areas. Everyone became much more optimistic around the US after last week's inflation report but that appears to have quickly faded.

15-11-2022 03:59 GMT by Craig Erlam

Market Insights Podcast (Episode 398)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the latest surge in Covid cases in China, the modest relaxation of its zero-Covid policy, the OPEC+ report and the week ahead.

14-11-2022 15:53 GMT by Craig Erlam

Yields rise on Fed speak, stocks edge lower, what-the-FTX is happening with cryptos?

Bond yields marched higher after Fed’s Waller said the Fed has ‘a ways to go’ before pausing their rate hiking cycle. US stocks are declining after the latest Fed speak pushes back on the idea that the Fed is almost done hiking and after President Biden and Xi’s first in-person meeting delivered the standard rhetoric about avoiding a cold war.

14-11-2022 14:01 GMT by Edward Moya

Oil weakens, gold rally losing steam

Oil Crude prices softened but didn’t break as energy traders await how supplies will be disrupted when the Russian crude price cap begins early next month. Today’s oil price weakness was mainly attributed to a weakening short-term demand outlook by OPEC and nervousness that the Fed could still remain aggressive with raising rates. Warmer weather across Europe has been good news for natural gas prices and that has removed some of the extra demand that was expected to come crude oil’s way. The

14-11-2022 13:35 GMT by Edward Moya

British pound fall, jobs report next

The British pound has started the week with considerable losses. In the North American session, GBP/USD is trading at 1.1733, down 0.83%. US dollar claws back It was a week to forget for the US dollar, which tumbled against the major currencies.

14-11-2022 10:50 GMT by Kenneth Fisher

Australian dollar takes a pause

The Australian dollar is in negative territory today, after posting huge gains last week. In the European session, AUD/USD is trading at 0.6690, down 0.22%. The US dollar took a nasty spill last week, and the Australian dollar made the most of it, gaining 3.6%.

14-11-2022 08:37 GMT by Kenneth Fisher

USD/JPY claws back

After a huge rally last week, the Japanese yen has reversed directions today. USD/JPY is trading at 140.21, up 0.99%.

14-11-2022 04:53 GMT by Kenneth Fisher

A choppy start

It's been quite a choppy start to the trading week, with much of the focus on China where Covid relaxation measures and property market support have brought some relief. Unfortunately, both come at a time of record Covid infections in major cities including Beijing and Guangzhou. And those relaxation measures that were announced are not ambitious enough to make any difference in those cities seeing rising cases which means activity is going to weaken. There is hope that China could further relax

14-11-2022 03:48 GMT by Craig Erlam

All news & analysis