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After a splendid week, in which GBP/USD jumped 2.8%, the pound has reversed directions and is sharply lower today. In the North American session, GBP/USD is trading at 1.1489, down 1.07% on the day. Markets eye Bank of England The Bank of England is on track to deliver its largest interest rate hike since 1989 on Thursday.

31-10-2022 13:03 GMT by Kenneth Fisher

Huge uncertainty

Uncertainty sums up the feeling in the markets at the moment and that is perfectly highlighted by the moves seen on the opening day of the week. Equity markets in Asia were a mixed bag, with the Shanghai Composite and Hang Seng making decent losses while those elsewhere made steady gains. Europe is slightly in the green as we move towards the close while the US is a sea of red, with tech shares being hit particularly hard. There's going to be a lot to take in this week, from the Fed on Wednesday

31-10-2022 12:24 GMT by Craig Erlam

Oil eases, gold choppy

Oil eases Oil prices are a little lower today although nothing has dramatically changed in recent weeks as far as the outlook is concerned. The global economy is facing major challenges, even recession, OPEC+ is prepared to make unpopular cuts alongside member Russia, whose war in Ukraine has been a dominant driver of market volatility.

31-10-2022 12:18 GMT by Craig Erlam

Aussie extends losses ahead of RBA meeting

AUD/USD is down for a third straight day. The Australian dollar is trading at 0.6395, down 0.24%. Will RBA deliver a 0.50% hike? The RBA kicks off a busy week of central bank decisions when it meets on Tuesday.

31-10-2022 09:46 GMT by Kenneth Fisher

Japanese yen falls to 148

All eyes were on the Bank of Japan rate meeting, which wrapped up on Friday. It was business as usual for the BoJ, which maintained its dovish stance.

31-10-2022 06:25 GMT by Kenneth Fisher

Week Ahead - All About the Fed and NFP

Will the fourth 75 basis-point rate hike be the last major rise before the Fed downshifts in December? Next week’s FOMC decision is widely expected to be a unanimous vote for one last major rate increase. With the Fed’s preferred price measure still showing inflation is running hot, that might make it harder for them to set up a possible downshift in its rate-hike pace for the December meeting.

28-10-2022 15:00 GMT by Edward Moya

US Close: tech slump? fuhgeddaboudit, US data cools downshift calls, oil slumps, gold lower on strong dollar, bitcoin hangs above $20k

The tech bloodbath is over and Wall Street still seems to be confident that the Fed is ready to downshift their tightening pace after they deliver a fourth consecutive 75bp rate hike next week. The labor market needs to weaken significantly before the Fed can have a slower pace of tightening.

28-10-2022 14:03 GMT by Edward Moya

Is Swiss franc headed to parity?

The Swiss franc is in negative territory for a second straight day. In the European session, USD/CHF is trading at 0.9975, up an impressive 0.69% on the day. Swissie weakens on KOF barometer The KOF Economic Barometer decreased in October to 90.9, down from 92.3 in September.

28-10-2022 09:17 GMT by Kenneth Fisher

Canadian dollar slips ahead of GDP

The Canadian dollar is lower today. In the European session, USD/CAD is trading at 1.3617, up 0.39%. Markets eye Canada's GDP The week wraps up with Canada's GDP for August.

28-10-2022 07:44 GMT by Kenneth Fisher

Yen slips after BoJ holds the course

USD/JPY has posted strong gains today. In the European session, the yen is trading at 147.42, up 0.78%. BoJ maintains policy All eyes were on the Bank of Japan, which wrapped up a crucial 2-day policy meeting on Friday.

28-10-2022 03:22 GMT by Kenneth Fisher

Asia Open: Mega-Cap Disappointment, Apple/Amazon Results, Commodities Brief, Cryptos edge lower

Mixed mega-cap tech earnings won’t provide Asia with a boost. A lot went wrong for big-tech today; Apple’s holiday outlook underwhelmed, inflation pain is more noticeable, and unfavorable exchange rates will hurt future sales. The news was not all terrible for Intel shares after posting solid results alongside the announcement of a cost-cutting plan that will save $10 billion by the end of 2028. The key theme across this round of mega-cap results is that an earnings slump is here as inflation

27-10-2022 21:21 GMT by Edward Moya

Market Insights Podcast (Episode 391)

Jonny Hart discusses what is driving markets today with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about earnings results from Meta and Caterpillar, a swathe of US data, and crypto strength.

27-10-2022 17:22 GMT by Edward Moya

Super Thursday! Massive earnings day, US GDP, ECB raises rates, FX, crypto momentum stalls

US stocks are struggling for direction after a mixed bag of earnings was accompanied by economic data that supports the idea that the economy is weakening. It looks like the economy is still headed for a recession, but that might reinforce Fed pivot calls which still seems to be driving some inflows back into equities.

27-10-2022 12:28 GMT by Edward Moya

Japanese yen hits 3-week high as BOJ meets

USD/JPY is showing little movement today, after gaining 1% on Wednesday. In the European session, USD/JPY is trading at 146.15, down 0.16%.

27-10-2022 09:35 GMT by Kenneth Fisher

Canadian dollar dips after BoC's dovish hike

The Canadian dollar is in negative territory today. In the European session, USD/CAD is trading at 1.3607, up 0.39%. Bank of Canada surprise The Bank of Canada unleashed a dovish surprise on Wednesday as it raised rates by 0.50%, below the consensus of a 0.75% hike.

27-10-2022 06:47 GMT by Kenneth Fisher

EUR/USD eyes ECB rate decision

EUR/USD is in a holding pattern ahead of today's ECB rate meeting. In the European session, the euro is trading at 1.0068, down 0.16%. ECB projected to hike by 0.75% The ECB holds its policy meeting later today, amidst difficult economic conditions in the eurozone.

27-10-2022 04:44 GMT by Kenneth Fisher

Thank you Canada, BOC's dovish surprise, big-tech disappointments, bitcoin above $20k

This bear market rally was about to run out of steam, but the Bank of Canada had other plans. A Canadian dovish surprise gave risky assets an unexpected boost.

26-10-2022 14:26 GMT by Edward Moya

Oil rallies, gold loves falling yields

Oil Oil is mustering up a nice rally as energy traders try to price in a China recovery that will unfold over the next few months. WTI crude has strong support in the mid-$80s as the oil market still remains tight and now that a short-term peak with the dollar is in place.

26-10-2022 14:24 GMT by Edward Moya

EUR/USD punches above parity, ECB next

EUR/USD continues to power forward and has breached the parity line for the first time since September 20th. The euro is red hot, having gained 2.1% this week, as the US dollar has hit a bump in the road and is lower against all the major currencies.

26-10-2022 11:56 GMT by Kenneth Fisher

Pound surges higher, UK budget delayed

The pound has extended its gains and has gained 2.3% this week. In the European session, GBP/USD is trading at 1.1581, up 0.75% on the day. Sunak delays budget Incoming UK Prime Minister Rashi Sunak faces profound challenges on the economic front.

26-10-2022 08:17 GMT by Kenneth Fisher

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