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Gold and oil rebound, bitcoin above $20,000

Oil pares losses ahead of next week's OPEC+ meeting Oil prices are recovering following the sell-off over the last couple of sessions. The prospect of a deeper economic slowdown, perhaps even global recession, has naturally turned traders more bearish on the price of oil as demand would naturally slump in those circumstances relative to prior expectations. Of course, there is another side to that equation, supply.

27-09-2022 06:43 GMT by Craig Erlam

More turmoil to come?

A steady start Stock markets have steadied in Asia and early European trade on Tuesday but that is not reflective of the mood in the markets at the moment so it may struggle to hold. The volatility in FX markets at the start of the week has been extreme but it's also been building for weeks as authorities desperately try to arrest the decline in their currencies, particularly against the US dollar. On Monday it was the UK that was front and centre following the mini-budget on Friday that show

27-09-2022 06:30 GMT by Craig Erlam

Oil and gold slide, bitcoin resilient

Oil slips further amid economic concerns Economic woes continue to weigh on oil prices, with Brent and WTI off around 1% again today and trading at pre-invasion levels. With more and more central banks being forced to take extraordinary measures no matter the cost to the economy, demand is going to take a hit which could help rebalance the oil market. Of course, OPEC+ has made its position on this perfectly clear and should it wait until the next scheduled meeting on 5 October, I expect there'

26-09-2022 12:16 GMT by Craig Erlam

Sterling hits record low

Concerns building Economic fears are sweeping through the markets once again this morning, with the UK taking a particular drubbing as the pound hit a record low against the dollar. Friday's mini-budget has gone down like a lead balloon, much like the pound again this morning, and serious questions are already being asked about the economic competency of the new government. So much so that markets are factoring in a strong chance of a substantial emergency rate hike from the BoE in order to shor

26-09-2022 12:10 GMT by Craig Erlam

Week Ahead - Recession fears mounting

Now that Wall Street has had some time to digest the FOMC decision, the focus shifts to how quickly the economy is weakening and a wave of Fed speak. A wide range of economic releases includes more Fed regional surveys, durable goods orders, consumer confidence, new home sales, initial jobless claims, personal income & spending, and the PCE deflator. An overwhelming amount of Fed speak include 16 appearances by policymakers.

23-09-2022 15:04 GMT by Craig Erlam

Market Insights Podcast (Episode 378)

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 the aftermath from the FOMC decision, Japan's yen intervention, and what is happening in crypto markets. They also discuss what the week ahead has in store for financial markets.

23-09-2022 14:28 GMT by Edward Moya

US Close - Unsettling volatility, stocks crushed, GBP plunges, oil tanks, gold gutted, bitcoin lower

Unsettling market volatility is going to be here for a while as Wall Street broadly downgrades their end of year S&P 500 targets. The bond market is telling us they firmly believe Fed Chair Powell has rolled up his sleeves and is ready for this fight with inflation to get ugly.

23-09-2022 14:22 GMT by Edward Moya

GBP/USD - Under pressure

OANDA Senior Market Analyst Craig Erlam discusses cable which has fallen to its lowest level since 1985.

23-09-2022 09:45 GMT by Craig Erlam

Euro slides on soft PMIs

The euro is down sharply today, as the US dollar continues to post gains against the major currencies. In the European session, EUR/USD is trading at 0.9746, down 0.90%.

23-09-2022 07:57 GMT by Kenneth Fisher

CAD extends losses, retail sales next

The Canadian dollar is in negative territory for a fourth straight day. In the European session, USD/CAD is trading at 1.3522, up 0.24% on the day. The US dollar continues to shine, particularly against risk-sensitive currencies such as the Canadian dollar.

23-09-2022 06:42 GMT by Kenneth Fisher

GBP/USD can't find its footing

GBP/USD is down sharply today and has fallen below the 1.11 level for the first time since 1985. In the European session, GBP/USD is trading at 1.1125, down 1.16%. The British pound can't seem to find any love.

23-09-2022 05:59 GMT by Kenneth Fisher

Oil drifting, gold in choppy waters

Oil drifts lower amid recession risk The threat of a global recession continues to weigh on oil prices, with widespread monetary tightening over the last couple of days fueling fears of a significant hit to growth. Central banks now appear to accept that a recession is the price to pay for getting a grip on inflation, which could weigh on demand next year. At the same time, the market still remains tight and OPEC+ is perfectly willing to restrict supply further even as it fails to deliver on quo

23-09-2022 05:01 GMT by Craig Erlam

Piling on the misery

A negative end to the week in Asia, and Europe has quickly followed as the prospect of much more tightening and a recession weighs on sentiment. The last 48 hours have seen central banks around the world aggressively tightening as they continue their fight against high inflation. There are a couple of exceptions including the BoJ which instead facilitated the first FX intervention since 1998.

23-09-2022 04:57 GMT by Craig Erlam

Yen settles down after wild ride

It was certainly a day to remember for the Japanese yen on Thursday. USD/JPY traded in a stunning 550-point range, as the yen fell sharply before reversing directions and closing the day up over 1 per cent.

23-09-2022 04:32 GMT by Kenneth Fisher

Market Insights Podcast (Episode 377)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the major central bank rate decisions including the Fed, BoE and CBRT and the first FX intervention by Japan in 24 years.

23-09-2022 00:58 GMT by Craig Erlam

A historic day in FX (BOJ, BOE, SNB, SARB, BCB), global tightening sends stocks lower, bitcoin surprisingly steady

Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession. The Fed has succeeded in convincing markets that they will remain aggressive with fighting inflation and that has many expecting another 75bp rate increase in November. The aftermath following the Fed was a wave of aggressive tightening by several other central banks. Most of these rate hikes around the world are not done yet which means the race to restricti

22-09-2022 13:59 GMT by Edward Moya

Oil rises, gold vs rising real yields

Oil Crude prices remain volatile as energy traders grapple with a deteriorating demand outlook that is still vulnerable to shortages. Supply risks and tight market conditions should give oil some support above the $80 level, but a quicker tumble to a global recession will keep prices heavy. Oil pared gains after eurozone consumer sentiment plunged to a record low as the energy crisis and aggressive central bank tightening is killing economic growth prospects.

22-09-2022 13:50 GMT by Edward Moya

New Zealand dollar dips to 2.5 year low

The New Zealand dollar is in negative territory for a fourth straight day. NZD/USD fell as low as 0.5803 in the Asian session, its lowest level since March 2020. Putin threats, Fed hikes weighs on kiwi The New Zealand dollar is in serious trouble.

22-09-2022 09:54 GMT by Kenneth Fisher

A wild 24 hours

Stock markets aren't faring too badly on Thursday, which is arguably surprising considering how eventful the last 24 hours have been. It's hard to know where to start on a day like today. While the Fed's hawkish rate hike is probably the dominant driver in the broader markets, the dangerous nuclear threats from the Kremlin are causing quite a stir and then there's the small matter of Japan's first FX intervention in 24 years which has triggered some huge moves in the yen. Fed resists the urge Th

22-09-2022 09:20 GMT by Craig Erlam

Oil rises on Putin threat, gold choppy

Oil rises amid more nuclear threats Oil prices are rising again on Thursday after giving up initial gains a day earlier. Nuclear threats are increasingly becoming the norm from the Kremlin but energy prices remain very sensitive to them.

22-09-2022 09:16 GMT by Craig Erlam

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