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Mid-Market Update: Stocks lower on inflation expectations rise, JPMorgan impresses, Beyond Meat job layoffs, US Data, Kwarteng sacked, Oil tumbles, Gold in danger, Bitcoin bucks the trend

US stocks were unable to hold onto gains after inflation expectations unexpectedly rose for the first time in seven months. Wall Street can't seem to get a handle on how high the Fed will have to take rates.

14-10-2022 11:39 GMT by Edward Moya

New Zealand dollar mini-rally fizzles

NZD/USD is in negative territory today, after three days of slight gains. In the European session, NZD/USD is trading at 0.5622, down 0.33%.

14-10-2022 07:58 GMT by Kenneth Fisher

GBP/USD dips, US retail sales next

GBP/USD has reversed directions today and is in negative territory. In the European session, GBP/USD is trading at 1.1274, down 0.34%. Pound jumps on tax cut U-turn The pound continues to show strong volatility and jumped 2% on Thursday.

14-10-2022 07:02 GMT by Kenneth Fisher

Making sense of the ridiculous

Stock markets are ending the week with a strong rally after a frankly ridiculous reversal on Thursday following the US inflation data. A 40-year high in the core reading initially triggered selling in futures which was swiftly followed by an unbelievable rebound that saw US indices recover more than 5% from the lows. The recovery in the Dow coincided with a test of the late September lows, while in the S&P 500 the low was roughly 20% from the summer recovery peak so there must have been a huge t

14-10-2022 06:17 GMT by Craig Erlam

Oil steadies, gold declines

Oil stabilising A strong rebound in oil prices on Thursday coincided with the broader risk reversal in the markets, taking Brent back towards $95 a barrel. This sits right in the middle of the range that Brent may establish itself in now, between $90 and $100.

14-10-2022 06:07 GMT by Craig Erlam

USD/JPY creeping higher

USD/JPY continues to move edge higher and is up 1.6% this week. In the European session, USD/JPY is trading at 147.67, up 0.25%. The Japanese yen is once again on a downswing, after hugging the key 145 line.

14-10-2022 05:12 GMT by Kenneth Fisher

US Close: Head-Scratching Day on Wall Street, Massive stock market reversal, FX volatility to remain extreme, Oil pops despite massive build, Gold little changed, Bitcoin back above $19k

Today’s market reversal was a head-scratcher. Despite a hot inflation report, US equities turned positive as some investors are convinced core inflation will soon start trending lower.

13-10-2022 14:36 GMT by Edward Moya

Oil steadies, gold edges higher, bitcoin slides

Oil steadying Oil prices are steadying again after a three-day decline that's coincided with further concerns around the economic outlook and gloomy forecasts. The output cut from OPEC+ last week triggered a surge in prices but that has partially been offset by the increasingly dire forecasts for the economy which will naturally weigh on demand.

13-10-2022 08:32 GMT by Craig Erlam

Another wild session

More u-turns incoming? Equity markets in Europe are marginally higher as bond market concerns ease and we await the latest inflation data from the US. The Bank of England bond market intervention deadline is looming which in recent days has made investors very nervous about a potential sequel to the mini-budget doom loop that forced the central bank to respond initially. Those fears have eased slightly after the BoE made its biggest emergency purchase so far on Wednesday, totalling more than £

13-10-2022 08:32 GMT by Craig Erlam

FOMC Minutes React: Calibration means Pivot can’t be too far, Pepsico impresses, Oil tumbles, Gold pares losses, Crypto hovers around $19k

US stocks got a little boost after the FOMC minutes provided a sprinkle of dovish hints. The word of the week is ‘calibrate’.

12-10-2022 14:52 GMT by Edward Moya

Market Insights Podcast (Episode 386)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the Bank of England, UK GDP, Bank of Korea rate decision and preview the Fed minutes.

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

Oil creeps higher, gold paring losses, bitcoin consolidates

Edging higher but growth concerns remain Oil prices are nudging higher after paring recent gains so far this week. There are two dominant forces in the oil market at the moment; the economic outlook being the primary downside risk and OPEC+ the upside.

12-10-2022 09:55 GMT by Craig Erlam

Is the UK already in recession?

One eye on the Fed minutes? Stock markets are recovering slightly on Wednesday after another volatile start to the week. It's clear this week that investors have one eye on the US, with Fed minutes this evening, US inflation data tomorrow and the start of earnings season likely to be the primary drivers into Friday's close. Any hope of a helping hand from the Fed minutes may not be forthcoming, with the commentary to an extent outdated at this point and policymakers seemingly unified in their

12-10-2022 09:35 GMT by Craig Erlam

US Open: Stocks drop as yields rise, IMF warning, Chip stocks crushed on curbs, King Dollar advance stalls, Crude lower on demand fears, Gold still vulnerable, Bitcoin holds onto $19k for now, Google partners with Coinbase

Tech stocks are hovering near 2-year lows on bond market chaos and expectations for a gloomy earnings season. Investors are nervous after this week's inflation data, Fed tightening calls will demand for more aggressive hikes beyond November and that we could be seeing another major round of selling. The IMF slashed their global growth outlook and warned that the ‘worst is yet to come’.

11-10-2022 09:54 GMT by Edward Moya

AUD/USD falls to new 18-month low

AUD/USD continues to lose ground and can't find its footing. The Aussie started the week on the wrong foot, with a decline of 1.0% on Monday.

11-10-2022 05:45 GMT by Kenneth Fisher

Will GDP shake up GBP/USD?

GBP/USD is trading quietly for a second straight day. In the North European session, GBP/USD is trading at 1.1035, down 0.18%. The pound has not posted a winning day since October 12th and has lost 400 points during that time.

11-10-2022 04:39 GMT by Kenneth Fisher

Increasingly pessimistic

European stock markets are poised for another weak open as much of Asia reopened on Tuesday to large declines. Asia is flashing red as it nears the close and Europe may be facing a similarly bleak day. JP Morgan CEO Jamie Dimon didn't hold back in his assessment of the economic outlook, adding to the warnings of the IMF and World Bank, among many others.

11-10-2022 03:20 GMT by Craig Erlam

Oil eases, gold takes a tumble

Oil eases amid more recession warnings Oil prices are paring recent gains for the second day as the IMF and World Bank warn of an increased risk of a global recession. Those warnings won't come as an enormous surprise given the immense economic headwinds as a result of the pandemic and Russia's invasion of Ukraine, not to mention the baffling decision by OPEC+ last week to cut output by two million barrels per day which will only add to them. Oil prices rose around 20% from their September lows

11-10-2022 03:16 GMT by Craig Erlam

Oil still pushing, Gold slides, bitcoin struggles

Oil higher despite weak Chinese PMI Oil prices are continuing to edge higher at the start of the week, albeit at a much slower pace with Brent now not far from $100 a barrel. OPEC+ may be comfortable with that after slashing output targets by two million barrels per day but I'm not sure anyone else will be. The Chinese PMI data overnight highlighted the challenges facing the world's largest crude importer as it tries to balance its zero-Covid policy with economic growth.

10-10-2022 12:56 GMT by Craig Erlam

A flat start to the week

Struggling to bounce back We're seeing mild risk aversion in the markets at the start of the week, perhaps some apprehension ahead of what could be a big few days for the US. The jobs report on Friday remained strong which supports the view that the Fed won't yet ease off the brake, much to the dismay of equity investors. They may still be hoping that this week's inflation data will swing the central bank but given previous comments, that doesn't appear realistic unless we see a significant miss

10-10-2022 12:47 GMT by Craig Erlam

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