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We're unsurprisingly seeing some caution in financial markets on Wednesday as we await the Federal Reserve rate decision. Markets have heavily priced in a 75 basis point rate hike from the FOMC and there doesn't appear to be any doubt about that outcome. The communication that accompanies it is where the interest is, with increasing numbers anticipating a hint at a slower pace from December. In many ways that would make a lot of sense.

02-11-2022 10:07 GMT by Craig Erlam

Oil steady, gold eyes FOMC

Oil steady after Chinese rumours fuel surge Oil prices are relatively flat, trading with some caution on Wednesday after another decent move higher the day before. The prospect of fewer restrictions in China is certainly a good reason for the move on Tuesday, assuming of course there's any actual truth or substance to it. Broadly speaking though, it continues to trade around the middle of what appears to be the newly established range between $90 and $100, in the case of Brent.

02-11-2022 10:05 GMT by Craig Erlam

Euro shrugs after soft manufacturing data

EUR/USD is in positive territory today. In the European session, the euro is trading at 0.9905, up 0.32%. German, eurozone manufacturing PMIs fall The manufacturing sector in the eurozone continues to struggle, as PMIs in Spain, Italy and France slowed in October and remained in contraction territory, with readings below 50.0.

02-11-2022 09:20 GMT by Kenneth Fisher

NZ dollar jumps on solid jobs report

NZD/USD is sharply higher today. In the European session, the New Zealand dollar is trading at 0.5883, up 0.71%. New Zealand employment data shines New Zealand posted a strong employment report for the third quarter, indicative of a robust labour market.

02-11-2022 08:25 GMT by Kenneth Fisher

Aussie climbs despite weak mfg. data

AUD/USD has posted strong gains today. In the European session, the Australian dollar is trading at 0.6424, up 0.48%. The Australian dollar rose as much as 0.80% after the Reserve Bank of Australia raised rates by 25 basis points on Tuesday, but couldn't consolidate and ended the day virtually unchanged. Lowe urges caution The RBA rate hike raised the cash rate to 2.85%, its highest level since April 2013.

02-11-2022 06:23 GMT by Kenneth Fisher

Stocks drop as labor market stays hot, ISM softens, bitcoin vulnerable if Fed stays hawkish

US stocks are struggling here as the labor market refuses to cool, which should prevent the Fed from delivering a dovish hike tomorrow. Wage pressures are not going away anytime soon and that will prevent inflation from cooling. Wall Street saw a major reversal after another round of economic data showed the labor market remains robust and that could keep the door open for the Fed to remain aggressive with tightening in December. Momentum was building on expectations for the Fed to downshi

01-11-2022 14:39 GMT by Edward Moya

Crude rallies on China reopening hopes, gold pares gain after JOLTS data

Oil Crude prices jumped after rumors that China was preparing for a full reopening in March 2023. Oil is looking bullish again as it did a decent job holding onto gains despite a strong reversal with king dollar. Risks to energy supplies remain elevated after reports that Iran was planning an attack on targets that include Saudi Arabia and Northern Iraq. The news was not all bullish for crude prices as the Atlanta Fed GDPNow lowered their GDP forecast from 3.1% to 2.6%.

01-11-2022 14:34 GMT by Edward Moya

NZD higher ahead of employment report

NZD/USD is showing some strength today. In the North American session, the New Zealand dollar is trading at 0.5838, up 0.41%.

01-11-2022 12:40 GMT by Kenneth Fisher

Euro pares gains

EUR/USD posted strong gains earlier but was unable to consolidate. In the European session, the euro is trading at 0.9885, up 0.01%. The ECB's delivered a jumbo rate hike of 75 basis points last week, bringing the benchmark rate to 2.0%.

01-11-2022 11:39 GMT by Kenneth Fisher

Recovering ahead of the Fed

Another volatile session in store in financial markets as we await the next move from the Fed amid rising expectations of a dovish pivot to close out the year. While a 75 basis point hike looks locked in tomorrow, the messaging is what investors are interested in. Despite inflation remaining at eye-watering levels, there's a growing belief that the central bank will signal a desire to ease off the brake over the following few meetings starting with a 50bps hike in December. It may come too late

01-11-2022 05:48 GMT by Craig Erlam

Oil steady, gold edges higher

Oil steadies amid bullish OPEC forecasts Oil prices are higher once more on Tuesday, with Brent and WTI up close to 1.5%. Little has changed over the last week on the oil front, with the price appearing to stabilize after a pretty turbulent period. OPEC released its 2022 oil market report on Monday and sees demand continuing to grow in the coming years.

01-11-2022 05:45 GMT by Craig Erlam

Global contraction, Fed in focus, GameStop Mania returned, bitcoin steady above $20k

US stocks are finishing October on a down note as Wall Street braces for any signs from the Fed that they are near the end of their tightening cycle. All the major global manufacturing readings show the economic slowdown is getting uglier.

31-10-2022 13:24 GMT by Edward Moya

Oil lower on demand fears, gold hurt by strong dollar

Oil Crude prices pared losses after energy traders were reminded that while the market might flip to a surplus next quarter, OPEC will keep prices supported. The release of the OPEC 2022 world oil outlook still supports both medium and long-term cases for higher prices.

31-10-2022 13:16 GMT by Edward Moya

Market Insights Podcast (Episode 392)

Jonny Hart looks back on last week's business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about Brazil's presidential election, global manufacturing weakness, and crypto resilience. They also discuss what the week ahead has in store for financial markets.

31-10-2022 13:04 GMT by Edward Moya

Sterling sinks at start of week

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

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