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Euro slips lower on soft German PMIs
EUR/USD has edged lower at the start of the week. In the European session, EUR/USD is trading at 0.9824, down 0.37%. Manufacturing, services PMI point to contraction Germany is the locomotive of the Eurozone, and a faltering economy means trouble for the entire bloc.
24-10-2022 07:29 GMT by Kenneth Fisher
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Another whipsaw day for the yen
The Japanese yen is sharply lower today, as USD/JPY has climbed 1.2% and is trading at 149.41 in Europe. The yen continues to exhibit strong swings for a second straight session. The yen started the week with sharp gains and jumped to 145.28, but the dollar has recovered and pushed the yen back above 149.
24-10-2022 05:55 GMT by Kenneth Fisher
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Market Insights Podcast (Episode 390)
OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the UK PM resignation and what will come next, FX intervention, Snap earnings, and the week ahead.
22-10-2022 06:04 GMT by Craig Erlam
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Week Ahead - Big tech earnings eyed
US Wall Street will pay close attention to the first look at third-quarter GDP. After two consecutive quarters of negative readings, growth is expected to bounce back into expansion territory with a 2.3% reading.
21-10-2022 19:24 GMT by Craig Erlam
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US Close – Japan Intervenes, Stocks rally on Fed pivot hopes, Oil edges higher, Gold pops after WSJ article on Fed, Crypto steady at $19k
Wall Street smashed the buy button after reports that the Fed would soon be ready to debate on how to slow the pace of tightening after the November FOMC meeting. A major reversal with Treasury yields occurred after the Wall Street Journal article signaled that after the Fed delivered one last 75 basis-point rate hike, it will consider smaller increases.
21-10-2022 14:11 GMT by Edward Moya
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Oil choppy, gold rally fizzles
Oil choppy as it establishes a new range Another choppy session in oil markets but one in which the price is once again broadly unchanged on the day. Yesterday we saw a decent rally before gains were erased and today we've seen the opposite.
21-10-2022 09:08 GMT by Craig Erlam
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British pound sinks on Truss turmoil
Pound slides on Truss resignation fallout The British pound is showing strong volatility in the wake of Prime Minister's Truss resignation. Truss resigned on Thursday after just 44 days in office, and the pound jumped as much as 1% before paring most of the gains.
21-10-2022 07:29 GMT by Kenneth Fisher
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Aussie falls on Fed's Harker's comments
AUD/USD has dropped lower today and is trading at 0.6252, down 0.43%. Fed expected to remain aggressive The Federal Reserve has signalled that it plans to remain hawkish, as the relentless battle with spiralling inflation continues. This aggressive stance was reaffirmed by Philadelphia Federal Reserve President Patrick Harker on Thursday.
21-10-2022 06:27 GMT by Kenneth Fisher
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Canadian dollar dips ahead of retail sales
The Canadian dollar is in negative territory today, as the US dollar is higher against the major currencies. In the European session, USD/CAD is trading at 1.3827, up 0.45%. Canada retail sales expected to improve Canada releases retail sales for August later today.
21-10-2022 05:30 GMT by Kenneth Fisher
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Oil rises on SPR, gold gains ground
Oil settling into a range Oil prices are higher on Thursday which comes after President Joe Biden confirmed the release of the final 15 million barrels from the SPR, as part of the 180 million previously agreed, and warned more could follow. That was already priced into the markets though and the price has fallen quite heavily over the last week and a half.
20-10-2022 12:48 GMT by Craig Erlam
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Another day, another prime minister
An absolute shambles Another UK Prime Minister has resigned and I've now lost count of how many Chancellors we're going to be up to if Jeremy Hunt is also replaced next week. Liz Truss' position was hanging by a thread and has been since the mini-budget but that unravelled at a remarkable pace. And now the UK is once again waiting to see who will be the next Prime Minister and how the process will be decided. Truss has no doubt been an unmitigated disaster and I'm not sure who exactly will make
20-10-2022 12:46 GMT by Craig Erlam
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Oil higher on possible Chinese COVID pivot, gold rebounds
Energy US natural gas declined to the lowest levels since March as supply concerns have slightly improved. ​ Over the past week, energy traders have digested a few winter weather forecasts and it seems many are thinking the south will be drier and warmer than usual, while the northern tier, Midwest and Ohio valley could have a colder winter. Oil prices rallied on hopes that China is starting to pivot with their COVID quarantine guidelines and as energy traders start to price in a hard floor for
20-10-2022 12:27 GMT by Edward Moya
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Euro gains ground on soft US data
EUR/USD has posted considerable gains and is back above the 0.98 level. In the North American session, EUR/USD is trading at 0.9828, up 0.57%. US housing, manufacturing data decline As the Federal Reserve continues to deliver outsized interest rate hikes, the financial markets are closely monitoring US economic data, looking for signs of a slowdown.
20-10-2022 12:18 GMT by Kenneth Fisher
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PM Truss resigns, British pound gains ground
Prime Minister Truss resigns The political soap opera continues in the UK, with Prime Minister Truss playing the part of the tragic hero. Truss resigned earlier today, which was perhaps not all that surprising given the chaos that has engulfed her government from the get-go.
20-10-2022 10:03 GMT by Kenneth Fisher
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Aussie briefly drops after jobs report
AUD/USD dropped close to 100 points in the Asian session but has recovered and is trading in positive territory. Australia's labour market remains solid Australia released September's employment report earlier Thursday, which indicated that the labour market remains robust. The economy added 13,300 full-time jobs, with a decline of 12,400 part-time jobs.
20-10-2022 06:10 GMT by Kenneth Fisher
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USD/JPY breaches 150
USD/JPY continues to gain ground USD/JPY is almost unchanged today but hit a milestone in the Asian session as it briefly darted above the 150 line, which has psychological significance. This marked the yen's lowest level since August 1990 as the currency continues to slide.
20-10-2022 04:51 GMT by Kenneth Fisher
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Market Insights Podcast (Episode 389)
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 Netflix and Procter & Gamble, what is driving oil markets, and crypto resilience.
19-10-2022 14:40 GMT by Edward Moya
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