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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

EUR/USD falls to new 20-year low

The euro is in negative territory today, after posting six straight days of losses. EUR/USD is trading at 0.9553 in Europe, down 0.41%. Referendums, Nord Stream explosions weigh on euro September can't end fast enough for the euro, which has declined a massive 4.8% against the dollar.

28-09-2022 05:16 GMT by Kenneth Fisher

Oil pares gains, gold loses ground

Oil rebound brief as gas spikes amid sabotage on Nord Stream pipelines Oil prices rebounded on Tuesday but that proved to be only a brief correction as economic doom and gloom has driven them lower again this morning. With Brent trading only a little above $80 and WTI below, you have to wonder how much more OPEC+ will tolerate and the size of output cut they may be considering next week in light of the new economic outlook and price. Gas prices have also been highly volatile in light of the late

28-09-2022 04:06 GMT by Craig Erlam

No letting up

It would appear we're in for another day of risk-off trade, with parts of Asia recording heavy losses and Europe opening on the backfoot. Fear of tightening-induced recessions has wiped out the recovery we saw in stock markets over the bulk of the summer as investors were once again burned by an over-eagerness to catch the bottom in the market despite there being little evidence of it being justified. That fear has now gripped the markets and we may see a little more caution going forward as the

28-09-2022 04:00 GMT by Craig Erlam

Market Insights Podcast (Episode 379)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the crashing pound, BoJ bond buying and bitcoin.

27-09-2022 16:06 GMT by Craig Erlam

Mid-Market Update: Stocks fragile rebound, crude stabilizes, gold bounce, bitcoin above $20k

After stocks fell to the lowest levels since 2020, Wall Street called a timeout to the massive rout that has many traders fearing central banks worldwide will trigger severe recessions. The latest round of Fed speak provide some optimism that the Fed is getting close to finishing up this rate-hiking cycle. Fed’s Evan said it will be appropriate to slow the pace of rate hikes at some point, while Bullard noted that US rates have arguably moved into restrictive territory. Today’s stock market

27-09-2022 11:11 GMT by Edward Moya

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

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