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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

USD/CAD hits 3-week high ahead of BoC

The Canadian dollar has extended its gains today, as the US dollar has retreated against all the major currencies. In the European session, USD/CAD is trading at 1.3547, down 0.44%.

26-10-2022 06:44 GMT by Kenneth Fisher

Aussie extends rally as inflation outperforms

AUD/USD is sharply higher for a second straight day. In the European session, the Australian dollar is trading at 0.6484, up 1.412.

26-10-2022 04:29 GMT by Kenneth Fisher

Stocks rally as yields fall, softening US data, cryptos impress

US stocks got a boost from another round of decent earnings and as softening economic data that supports the argument for the Fed to downshift its tightening pace after next week's policy meeting. Earnings from UPS, General Motors and General Electric did not unravel the optimistic outlook corporate America has been providing this earnings season.

25-10-2022 14:35 GMT by Edward Moya

Canadian dollar rises, markets eye BoC

The Canadian dollar is showing some strength in today's North American session. USD/CAD is trading at 1.3649, down 0.41%. Bank of Canada expected to hike rates by 0.75% This week's calendar is unusually light, with only two events out of Canada.

25-10-2022 09:52 GMT by Kenneth Fisher

GBP/USD jumps as Sunak takes the reins

The pound has posted sharp gains today. In the European session, GBP/USD is trading at 1.1353, up 0.66%. Will Sunak be up to the job? Rashi Sunak is the new Prime Minister of the UK, the latest move in what has been a dizzying pace of political developments in the UK.

25-10-2022 09:03 GMT by Kenneth Fisher

Australian dollar steady after slide

AUD/USD has steadied today after two days of sharp swings. In the European session, the Australian dollar is trading at 0.6317, up 0.09%. It was a brutal start to the week for the Australian dollar, which sank 1.1 per cent on Monday.

25-10-2022 07:51 GMT by Kenneth Fisher

US Close- stock rally continues, US manufacturing activity contracts, oil lower, gold steady, Asia in focus, PM Sunak, ethereum gains

US stocks rallied as momentum builds on calls that the Fed will be tapping the tightening brakes after next week’s policy meeting and ahead of mega-cap tech earnings. No one wants to aggressively buy big tech stocks until we hear this week's big earnings from Apple, Alphabet, and Amazon. Investors are getting more confident that inflation will soften as the consumer rethinks massive purchases. Fed rate hike expectations will remain volatile, but expectations are growing that a weaker economy w

24-10-2022 14:41 GMT by Edward Moya

Canadian dollar starts week with losses

The Canadian dollar has started the week with losses. In the North American session, USD/CAD is trading at 1.3721, up 0.57%. The week ended on a high note, as Canadian retail sales for August were stronger than expected.

24-10-2022 12:03 GMT by Kenneth Fisher

Pound drifting, Sunak takes over as PM

The pound pushed higher at the start earlier today but has given up all of these gains. GBP/USD is trading at 1.1293, down 0.03%. Sunak takes over as PM Rushi Sunak has become the new UK Prime Minister after Penny Mordaunt dropped out of the Conservative leadership race.

24-10-2022 09:51 GMT by Kenneth Fisher

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

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

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

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

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

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

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

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

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

Yen steady as inflation hits 31-year high

Core CPI hits 3.0% Inflation in Japan continues to rise. Core CPI rose to 3.0% YoY in September, its highest level since August 1991.

21-10-2022 04:09 GMT by Kenneth Fisher

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