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OPEC+ defends cut as oil steadies around $90 Oil prices are continuing to stabilise around $90 a barrel as OPEC+ steps up its defence of its two million barrel per day cut amid a backlash from the US, in particular. Meanwhile, the world's largest economy is reportedly considering another release of strategic reserves in order to offset the impact of the cuts and stop fuel prices jumping as midterms near. How effective the SPR release will be may well depend on whether others join as we saw ear

18-10-2022 05:55 GMT by Craig Erlam

Flashing green

Asian stocks were flashing green on the second day of trading, while Europe is poised to open in a similarly positive manner as sentiment continues to improve, albeit from very low levels. There's still a strong feeling of a bear market rally about trading over the course of the last week. From the post-US-inflation rebound to what has now been a strong start to the week - in part driven by the UK's decision to no longer shoot itself in the foot - nothing about this screams sustainable. Of cou

18-10-2022 05:51 GMT by Craig Erlam

USD/JPY breaks above 149

USD/JPY has edged higher today and is currently trading at 149.17. The yen has fallen for eight straight sessions, losing 500 points in that time. Yen slide continues The yen continues to set new 24-year-old lows as the dollar/yen has pushed above the 149 line.

18-10-2022 05:10 GMT by Kenneth Fisher

Market Insights Podcast (Episode 388)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the new UK Chancellor's mini-budget reversal, Japanese intervention and earnings season.

17-10-2022 11:06 GMT by Craig Erlam

Oil edges lower, gold jumps, bitcoin on the rise

Settling down? It's been another turbulent few weeks in oil markets from global growth concerns to super-sized OPEC+ output cuts and it seems they're yet to fully settle down. Brent has seen lows of $82 and highs of $98 so perhaps what we're now seeing is it finding its feet somewhere in the middle.

17-10-2022 10:07 GMT by Craig Erlam

The mother of all U-turns

A humiliating blow Another turbulent start to the week, albeit a positive one broadly speaking with equity markets around 1% higher in Europe after a decent start to the week in Asia. Since Liz Truss became UK Prime Minister, uneventful days have eluded us and this week has also got off to another hectic start. While the Prime Minister had every intention of making waves in her first weeks in charge, she clearly didn't anticipate the storm that was brewing and I'm sure she more than anyone at

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

Market Insights Podcast (Episode 387)

Jonny Hart looks back on the week's business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about another hot inflation report, JPMorgan Earnings, University of Michigan inflation expectations, crude's bad week, and crypto resilience. They also discuss what the week ahead has in store for financial markets.

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

Week Ahead - Earnings season heats up

US After a hot inflation report, the focus shifts to how policymakers will change their tune on how aggressive the Fed should now be. On Tuesday, we will hear from the Fed’s Bostic and Kashkari.

14-10-2022 12:28 GMT by Craig Erlam

GBP/USD - Can UK u-turns save sterling?

OANDA Senior Market Analyst Craig Erlam discusses the latest developments in GBP amid higher US inflation and more political turmoil in the UK.

14-10-2022 11:52 GMT by Craig Erlam

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

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