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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

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

US Close: Election hangover, China inflation and lockdown hopes, oil drops, gold rally stalls, crypto turmoil

US stocks declined as the midterm election results are still not clear, but still seems to favor a divided government outcome. Wall Street is having an election hangover that most likely saw an end to Biden's blue wave.

09-11-2022 16:54 GMT by Edward Moya

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

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

Aussie rally takes a breather

The Australian dollar is in negative territory today after an impressive rally. AUD/USD is trading at 0.6487, down 0.27%. US dollar steadies after selloff The US dollar has been in retreat since Friday, after a mixed nonfarm payroll report raised the likelihood of the Fed easing up in December and raising rates by just 0.50%, rather than 0.75%.

09-11-2022 04:58 GMT by Kenneth Fisher

Stocks ease as US midterm results filter in

Equity markets are mixed on Wednesday as investors continue to watch events unfold in the US for a sense of what impact they'll have on sentiment. The impact of the midterms will probably be short-lived, if impactful at all, as far as markets are concerned. Of course, the political implications may be significant if Democrats can manage to retain control of the House and Senate but at this stage, only one of those looks plausible which means deadlock in Washington. The bigger takeaway from the e

09-11-2022 04:17 GMT by Craig Erlam

Oil edges lower, gold jumps higher

Oil eases amid a surge in inventories Oil prices are a little lower again on Wednesday after falling around 3% a day earlier. This came following a strong move in recent weeks in which crude prices rallied around 20% on the back of the OPEC+ output cut and the prospect of less restrictive Covid measures in China, which have not been confirmed. The API inventory data came late in the day on Tuesday after the bulk of the losses had already occurred.

09-11-2022 04:12 GMT by Craig Erlam

Election Day, stocks rally, dollar short-covering, cryptos down on Binance rescue of FTX

US stocks rallied as Americans head to the polls in what is expected to be an election that gives Republicans control of the House. It might take longer than election night to get a final conclusion on the Senate.

08-11-2022 15:08 GMT by Edward Moya

Oil lower on China concerns, gold pops

Oil edges lower Crude prices edged lower after as China continues to struggle with COVID. Bets that China will reopen soon are losing momentum as cases jumped in Guangzhou and other key Chinese cities. Brent crude is still close to the $100 a barrel level for now and it seems short-term risks to supplies have traders looking for a bullish move higher. Gold powers higher Gold had a great day as the dollar tumbled ahead of the midterm elections and a pivotal inflation report.

08-11-2022 15:01 GMT by Edward Moya

AUD/USD resumes rally with massive gains

The Australian dollar has posted sharp gains, as the US dollar is lower against the majors in the North American session. AUD/USD is trading at 0.6542, up 0.97%. Business confidence slows to zero Australia's NAB Business Confidence for October slipped to zero, down from 5 points in September.

08-11-2022 11:43 GMT by Kenneth Fisher

Yen yawns as household spending rises

The Japanese yen continues to have a quiet week. In the European session, USD/JPY is trading at 146.34, down 0.18%. Household spending rebounds Japan's household spending bounced back in September, with its first gain in three months.

08-11-2022 06:03 GMT by Kenneth Fisher

Caution ahead of midterms and inflation data

A cautious start to trading on Tuesday, with investors seemingly having one eye on midterm results in the US and another on Thursday's inflation data. It's hard to see past both of these things this week. The question for many is whether investors will respond positively to the deadlock in Washington.

08-11-2022 04:10 GMT by Craig Erlam

Oil prices ease, gold eyes inflation

Oil pares gains as China Covid cases jump Oil prices are easing a little on Tuesday, a day after Brent crude came within a whisker of $100 again. It's traded below this major psychological level since July but recent developments have propelled the price higher again, up more than 20% from the September lows. OPEC+ had a big hand to play in that but speculation around China's zero-Covid commitment may also be a factor in recent gains.

08-11-2022 04:08 GMT by Craig Erlam

Midterms matter; all about CPI, bitcoin rally stalls

US stocks edged higher as Wall Street awaits both the midterm elections which could bring an end to President Biden’s blue wave and a pivotal inflation report. Tuesday’s US midterm elections could be market-moving if we see a Democratic surprise or if Republicans dominate the polls, but most traders are zeroing in on Thursday’s inflation report.

07-11-2022 15:07 GMT by Edward Moya

Oil waiting to pop, gold enters trading range

Oil Oil’s early boost from a weakening dollar could not last as energy traders debate whether optimism was premature over an easing of Covid rules in China. Chinese officials continue to push back on the idea that a relaxation in Covid rules is coming.

07-11-2022 15:03 GMT by Edward Moya

Market Insights Podcast (Episode 395)

Jonny Hart discusses what is driving markets today with OANDA Senior Market Analyst Ed Moya in New York. This week they preview both the US midterm elections, a pivotal inflation report, and discuss what's driving crypto markets.

07-11-2022 13:22 GMT by Edward Moya

Soaring euro punches past parity

EUR/USD has extended its impressive rally and is trading at 1.0019, up 0.60% on the day. The US dollar was broadly lower on Friday after the nonfarm payroll report and the euro rocketed 2.1%. German industrial orders rebound The week started on a high note in Germany, as Industrial Production for September rose for the first time in two months, up 0.6% MoM.

07-11-2022 12:57 GMT by Kenneth Fisher

A choppy start to the week

It's been a relatively lackluster start to the trading week, following the one previous that was anything but. There's no doubt that the last seven days have left investors with plenty to work out and the jobs report on Friday yielded a response in the markets which probably sums up how confused investors appear right now. It was another hot report with little in it to suggest we're seeing cracks appearing that will deliver the slack that the Fed thinks it needs. Trade around the report was vola

07-11-2022 12:12 GMT by Craig Erlam

Oil ticks higher, gold choppy

Continuing to creep higher Oil prices are continuing to creep closer to $100 amid ongoing speculation over China's Covid-zero commitment and a little more positive sentiment in broader markets. Brent and WTI are treading water but it's been choppy at times, with the former coming within a dollar of triple figures. That won't make good headlines at a time when the Democrats in the US need all the good headlines they can get as people head to the polls.

07-11-2022 12:08 GMT by Craig Erlam

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