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Oil steady, gold surges
Oil is steady but upside risks remain The prospect of looser restrictions has boosted the price of oil recently and yet Brent still finds itself trading around the middle of its $90-$100 range. The US inflation data last week gave crude another boost as traders were left to dream again about a possible soft landing if the data continues that way and the Fed raises rates less. There's still a long way to go though and much of the world won't be so lucky, assuming it isn't already too late for the
14-11-2022 03:43 GMT by Craig Erlam
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Week Ahead - Moment of truth
After a round of soft inflation data triggered a buy-everything relief rally, Wall Street will focus on Fed speak and a plethora of data points that might show the economy remains resilient.  The key economic readings include manufacturing activity, retail sales, and housing data. There will be no shortage of appearances by the Fed this week. Brainard and Williams speak on Monday, while Tuesday includes speeches by Harker, Cook, and Barr.
11-11-2022 10:42 GMT by Craig Erlam
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Oil moves higher, gold sparkles
Can oil break $100 again? It's been quite the volatile week for oil, with Chinese rumours not going away, restrictions and mass testing being undertaken once more and the global economic outlook seemingly changing on a daily basis. There's no such thing as a boring week these days. Today it's the improvement in economic sentiment on the back of that inflation data alongside a modest relaxation of Chinese quarantine measures that are lifting prices.
11-11-2022 08:42 GMT by Craig Erlam
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The great deceleration
Equity markets are on course to end the week on a positive after Thursday's US inflation report gave hope that the great deceleration is well underway. That inflation report has been some time coming and investors breathed an enormous sigh of relief in response. The reaction to the number looks a little extreme, overdone even, but in fairness, investors have waited a long time for the chance to do that and so much negativity has been priced in during that time. The fact that equity markets are i
11-11-2022 08:39 GMT by Craig Erlam
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New Zealand dollar keeps on rolling
The New Zealand dollar is higher today, extending the huge gains seen on Thursday. In the European session, NZD/USD is trading at 0.6048, up 0.35%. NZ Manufacturing PMI contracts In the new era of spiralling inflation and rising interest rates, manufacturing in the major economies has been hard hit.
11-11-2022 07:34 GMT by Kenneth Fisher
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Yen extends rally as Japan's PPI eases
The Japanese yen is taking a breather after posting huge gains on Thursday. In the European session, USD/JPY is trading at 140.30, down 0.45%. Japan's PPI declines  The week wrapped up with a key inflation release.
11-11-2022 05:04 GMT by Kenneth Fisher
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British pound extends rally
The British pound has extended its gains today, following a huge Thursday. In the European session, GBP/USD is trading at 1.1729, up 0.15%. US dollar crashes after soft inflation report The US dollar was in full retreat on Thursday, after the October inflation report indicated that inflation had fallen more than expected.
11-11-2022 04:15 GMT by Kenneth Fisher
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Yen soars after US inflation surprise
The Japanese yen has skyrocketed in today's North American session. USD/JPY is trading at 141.81, down 3.1%. US inflation drags down the dollar The October inflation report was lower than expected, triggering a mass rush from the US dollar.
10-11-2022 12:02 GMT by Kenneth Fisher
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Oil higher, gold skyrockets
Oil Crude prices were heavy early as concerns grew over China’s COVID situation. ​ Energy traders were quick to jump back on the oil trade after a cool inflation report brought hopes back to life that the US economy could still have a soft landing. ​ The inflation report showed fuel oil prices surged 19.8% before the cold weather arrives. ​ The oil market is going to remain very tight this winter and that should keep oil prices heading higher. ​ Gold surges as US inflation dips Gold prices are s
10-11-2022 11:24 GMT by Edward Moya
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GBP/USD rockets as US inflation dips
The British pound has soared today, following the US inflation report. GBP/USD is trading at 1.1661, up a massive 2.7%. US dollar retreats as inflation falls The October inflation report was lower than what everyone had expected, which has triggered strong volatility in the currency markets.
10-11-2022 10:30 GMT by Kenneth Fisher
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Hope fades ahead of CPI data
We're seeing some risk aversion in financial markets on Thursday as we await inflation data from the US later in the week. It probably won't come as a surprise to many that we're seeing stock markets in the red considering how well they've performed in recent days and weeks. It would appear we've seen a lot of buying on the hope of a Fed pivot and some weaker inflation and labour market figures. Well, the Fed kind of pivoted but indicated that the terminal rate may be higher.
10-11-2022 04:10 GMT by Craig Erlam
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Oil slips, gold eyes inflation data
Oil slides amid Chinese Covid restrictions Oil prices fell again on Wednesday, taking losses over the last couple of days to more than 5%. Brent and WTI are basically flat on the day at the time of writing, settling towards the lower end of their recent trading ranges. While the narrative in recent weeks has focused on the potential for Chinese Covid restrictions to be relaxed, which has driven Chinese equities higher and lifted oil prices, the reality has seen case numbers soaring, restrictions
10-11-2022 04:06 GMT by Craig Erlam
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Market Insights Podcast (Episode 396)
OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the US midterm results, crypto sell-off and the upcoming inflation report.
10-11-2022 01:32 GMT by Craig Erlam
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Euro backtracks after strong rally
EUR/USD has reversed course today and is in negative territory. In the North American session, the euro is trading at 1.0043, down 0.30%. US dollar bounces back The US dollar has rebounded after a 3-day slide against the major currencies.
09-11-2022 12:01 GMT by Kenneth Fisher
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Japanese yen drifting, US inflation next
The Japanese yen has steadied after posting strong gains on Tuesday. In the European session, USD/JPY is trading at 145.67, up 0.03%. Japan recorded stronger-than-expected gains in household spending and retail sales, but it's questionable whether this positive trend will continue.
09-11-2022 06:29 GMT by Kenneth Fisher
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