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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, crude oil's worst quarter in over two years, and what is happening in crypto markets. They also discuss what the week ahead has in store for financial markets.

30-09-2022 14:23 GMT by Edward Moya

Mid-Market Update: Good Riddance September and Q3, Core inflation heats up, Inflation expectations improved, Oil softens, Gold and Bitcoin rise as yields decline

It is fitting that the S&P 500 index finishes the month and quarter near its lows. Since the middle of August it has mostly been a one-way move lower with the exception of a bounce that came from the hope of a Fed pivot.

30-09-2022 12:15 GMT by Edward Moya

New Zealand dollar tumbles

The New Zealand dollar is down sharply today. In the European session, NZD/USD is trading at 0.5676, down 0.85%. New Zealand dollar can't find its footing It has been a tumultuous week in the currency markets, and the New Zealand dollar is about to record a losing week for a seventh straight time.

30-09-2022 08:26 GMT by Kenneth Fisher

Week Ahead - Jobs report eyed

It remains all about the Fed as it continues down an aggressive tightening path. Wall Street will now fixated on how quick this economy is going to weaken. A weakening consumer will help drive down inflation but so far this economy has shown a lot of resilience in the service sector. Investors will have a handful of key economic releases to follow this week. On Monday, the ISM manufacturing report is expected to soften but still remain in expansion territory while prices paid, new orders

30-09-2022 08:15 GMT by Craig Erlam

A busy end to the week

Stock markets are bouncing back on Friday, although I don't think anyone is getting excited by the moves which pale in comparison to the losses that preceded them. This looks like nothing more than a dead cat bounce after a steep decline over the last couple of weeks as investors have been forced to once again accept that interest rates are going to rise further and faster than hoped. Double-digit eurozone inflation Inflation in the eurozone hit 10% in September ahead of schedule, with markets e

30-09-2022 07:17 GMT by Craig Erlam

Oil edges higher, gold rally continues

Oil edges higher into the weekend Oil prices are rising again as we head into the weekend, with the focus now on the OPEC+ meeting next week. There's been plenty of rumours about how the alliance will respond to the deteriorating economic outlook and lower prices.

30-09-2022 07:08 GMT by Craig Erlam

EUR/USD falls as inflation jumps

The euro is showing limited movement today, after a two-day rally. In the European session, EUR/USD is trading at 0.9759, down 0.55%. It has been a week of swings for the euro, which has traded in a 300-point range.

30-09-2022 06:56 GMT by Kenneth Fisher

Japanese yen shrugs after solid data

The yen has been drifting for most of the week and the trend is continuing today. USD/JPY is almost unchanged at 144.32. Japanese data surprises on the upside Japan has released strong industrial production and retail sales data, a further indication that the Japanese economy is improving.

30-09-2022 04:59 GMT by Kenneth Fisher

Pound takes a breather after wild ride

British pound calm after tumultous week The British pound has posted slight gains, after a spectacular showing on Thursday. In the European session, GBP/USD is trading at 1.1145, up 0.26%. For anyone looking for lots of volatility, look no further.

30-09-2022 04:08 GMT by Kenneth Fisher

US close – stocks slump on Fed hawks and hot economic data, Apple and Meta hit hard, dollar softens into quarter-end, oil falls, gold pared losses, bitcoin holds onto $19k

US stocks are weakening once again after hot inflation readings and another round of hawkish Fed speak. Risky assets don’t stand a chance of a meaningful rally if the economy continues to show resilience while inflation continues to be significantly above the Fed’s Funds rate. Fed’s Mester signaled that a recession won’t prevent the Fed from tightening policy further and Bullard reiterated their determination to get rates to a level that can cool inflation. Big-Tech Woes

29-09-2022 16:26 GMT by Edward Moya

Stubborn inflation

Another miserable day for European equity markets as the prospect of recession becomes ever more real. US markets aren't faring any better after the jobless claims data that showed the labour market is still performing remarkably well despite all of the challenges the economy faces. While that would ordinarily be celebrated, on this occasion that resilience could translate to stubborn inflation and more rate hikes. Focus will now shift to inflation, income and spending figures tomorrow.

29-09-2022 13:00 GMT by Craig Erlam

Oil in choppy waters, gold recovers

Oil choppy amid OPEC+ rumours The battle between the economic outlook and OPEC+ continues in the oil market, with prices boosted by reports of discussions between producers around an output cut ahead of the meeting next week. This shouldn't come as a huge surprise under the circumstances as the alliance has previously alluded to its willingness to cut further if fundamentals change. The question is whether they'll take the leap given the enormous uncertainty in the economic outlook at this poi

29-09-2022 13:00 GMT by Craig Erlam

Australian dollar remains volatile

AUD/USD has reversed directions today and is down 1.07%, trading at 0.6425. Aussie roller-coaster continues The currency markets have been busy this week, and the Australian dollar hasn't missed out on the action. On Wednesday, AUD/USD traded in a range of almost 200 points and ended the day with sharp gains of 1.3%, but has pared most of those gains today.

29-09-2022 10:20 GMT by Kenneth Fisher

Japanese yen dips, retail sales next

The yen has reversed directions today and is in negative territory. In the North American session, USD/JPY is trading at 144.59, up 0.33%.

29-09-2022 09:30 GMT by Kenneth Fisher

Canadian dollar slides, GDP next

The Canadian dollar continues to show sharp volatility this week. USD/CAD has jumped 0.65% today and is trading at 1.3693. We are seeing significant volatility in the currency markets this week, with weaker risk appetite propelling the US dollar higher.

29-09-2022 05:50 GMT by Kenneth Fisher

GBP/USD slides as turmoil continues

Pound sharply lower despite BoE intervention The roller-coaster continues for the British pound, which is down sharply today. In the European session, GBP/USD is trading at 1.0774, down 1.05%. It has been a remarkable week for the British pound, which has exhibited sharp volatility since Friday, when Chancellor Kwarteng unveiled his mini-budget.

29-09-2022 04:29 GMT by Kenneth Fisher

Market Insights Podcast (Episode 380)

Jonny Hart discusses what is driving markets today with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about US stock market volatility, BOE action, the short-term backdrop for crypto, and end on a positive note with Biogen's landmark Alzheimer's data.

28-09-2022 14:16 GMT by Edward Moya

Stocks rally as BOE intervenes, promising news from Biogen, bitcoin

US stocks are rallying after the BOE’s intervention tentatively halted the bond market selloff. The theme on Wall Street is rising risks for a hard landing next year, while we are hearing a steady chorus of Fed speak that mostly confirmed the market’s expectation that rates will rise to 4.25%-4.50% by the end of the year. Some traders are growing confident that we are close to seeing the end of the Fed's tightening cycle, but that is still too early to say. BOE The UK economy was hit with Br

28-09-2022 12:55 GMT by Edward Moya

Energy traders eye OPEC+ supply cuts, gold rallies as yields tank

Oil Energy traders are widely awaiting the next OPEC+ meeting that will likely make sure the oil market remains tight. Oil is back above the $80 level on seasonal stockpiling, some resilience in the economy that is delaying recession risks, and mostly on expectations OPEC+ will cut production between 500k and 1 million bpd.

28-09-2022 12:51 GMT by Edward Moya

GBP/USD jumps after BoE intervention

The pound started the day with losses but has reversed directions and soared in the North American session. GBP/USD is trading at 1.0838, up 0.98%. Bank of England steps in to calm markets The new Truss government has started off on the left foot, sending the pound to a record low in the process.

28-09-2022 12:28 GMT by Kenneth Fisher

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