All Articles

Fed speak kills risk appetite, stocks decline, US data, cryptos weaken

US stocks are declining as the Fed sticks to the hawkish script that supports the idea that this economy is quickly heading towards a recession. Equities extended declines after the latest round of Fed speak reminded us that policymakers could remain very hawkish, despite a downshift to a half-point pace in December.

17-11-2022 11:28 GMT by Edward Moya

Oil lower on demand woes, gold slumps

Oil Oil prices are getting punished as crude demand concerns show no signs of easing. The world’s two largest economies are struggling here as China battles COVID and the US is seeing a significant drop in manufacturing activity. China’s new case total rose above 23,000, which is the highest level since April and is approaching its record high.

17-11-2022 11:22 GMT by Edward Moya

Pound takes a dive, retail sales next

The British pound is sharply lower on Thursday as the US dollar has rebounded against the major currencies. In the North American session, GBP/USD is trading at 1.1787, down 1.07%.

17-11-2022 10:56 GMT by Kenneth Fisher

Stalled rebound

The risk rebound in the markets has stalled and equity markets are down around 1% on Thursday following quite a good run over the last month. The day we've all been waiting for The Autumn Statement has been a long time coming after the disastrous mini-budget almost two months ago. The UK's fiscal credibility was in the gutter, the pound was crushed and borrowing costs soared.

17-11-2022 09:14 GMT by Craig Erlam

Oil prices fall, gold stalls

Oil slips amid easing geopolitical risk and China woes Oil prices are slipping as we move through the week, with easing geopolitical risk and Chinese demand weighing. Prices spiked earlier in the week after missiles landed in Poland, risking a dramatic escalation in the war in Ukraine.

17-11-2022 09:11 GMT by Craig Erlam

Yen dips ahead of key inflation data

The Japanese yen continues to flirt with the 140 level. In the European session, USD/JPY is trading at 140.25, up 0.51%. Japan releases the October National CPI later today, which is expected to rise to 3.5%, following the September reading of 3.0%.

17-11-2022 07:59 GMT by Kenneth Fisher

Aussie slides despite strong job data

The Australian dollar is considerably lower on Thursday. In the European session, AUD/USD is trading at 0.6671, down 1.02%. Employment data shines Australia's tight labor market got even tighter in October.

17-11-2022 06:08 GMT by Kenneth Fisher

Oil slides, gold softens

Oil Yesterday’s bullish triggers for oil prices were quickly undone today. Oil prices declined after flows from the Druzhba pipeline resumed and preliminary analysis of the missile that killed two in Poland was likely an errant missile fired by Ukraine’s defense system. It looks like we aren’t seeing an immediate escalation from the Russians and that has tentatively removed some of the short-term supply risks. Oil struggled for direction after a mixed EIA crude oil inventory report as stockp

16-11-2022 15:18 GMT by Edward Moya

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

All news & analysis