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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

Swissie falls hard as SNB raises rates

The Swiss franc is sharply lower today, after the Swiss National Bank raised rates by 0.75%. In the European session, USD/CHF is trading at 0.9834, up an impressive 1.79% on the day. SNB sends rates into positive territory There were no surprises from the SNB, which delivered a sharp 0.75% rate hike today, bringing the benchmark rate to 0.25%.

22-09-2022 07:39 GMT by Kenneth Fisher

BOE delivers 50bp hike, sterling steady

As expected, the Bank of England hiked interest rates by 0.50%, bringing the cash rate to 2.25%. There was an outside chance that the BoE would press the rate pedal to the floor and deliver a 0.75% increase, but in the end, members decided unanimously on a less aggressive hike.

22-09-2022 07:13 GMT by Kenneth Fisher

Yen goes on roller-coaster after BoJ meet

It has been a wild ride for the Japanese yen today. USD/JPY initially jumped over 1% earlier today but has reversed directions.

22-09-2022 04:39 GMT by Kenneth Fisher

FOMC React: Hard landing will lead to a pause, housing market cools, Putin’s escalation, bitcoin stabilizes

Stocks initially tumbled after the Fed remained very much committed to winning the war against inflation. The Fed is not taking any chances with inflation and they are prepared to send this economy into a recession.

21-09-2022 15:40 GMT by Edward Moya

Oil’s wild ride, gold finds a bottom

Oil goes on rollercoaster ride Oil prices went on a rollercoaster as energy traders watched President Putin escalate the war in Ukraine and as the EIA report signals some crude demand weakness. The EIA crude oil inventory report was a lot to process, but it really didn’t deliver that many surprises: Production remains steady at 12.1 million b/d, which is impressive considering oil rig counts have been declining, Imports from Canada are roaring back and that should help restore stockpiles, Jet

21-09-2022 15:35 GMT by Edward Moya

Euro slides on Putin warnings, Fed next

Euro falls as risk sentiment sours The euro has posted sharp losses today and has fallen below the 0.9900 line. In the North American session, EUR/USD is trading at 0.9875, down 0.96% on the day. Ukraine's recent offensive has pushed Russian forces back and appears to have rattled the Kremlin.

21-09-2022 12:04 GMT by Kenneth Fisher

Pound falls to new 37-year low, Fed looms

The British pound continues to lose ground. GBP/USD is trading at 1.3436.

21-09-2022 10:40 GMT by Kenneth Fisher

How aggressive will the Fed be?

We're seeing caution in the markets on Wednesday as the Fed kicks off a 24-hour central bank extravaganza. That may be me getting a little carried away but there's no doubt that the next day or so offers crucial rate announcements from major central banks around the world and only one is expected to resist the urge to change anything.

21-09-2022 09:33 GMT by Craig Erlam

Oil jumps on Putin comments, gold eyes Fed

Energy spikes after Putin's announcement The successful Ukrainian counter-offensive in the east appears to have triggered an act of desperation by the Kremlin with this morning's announcement by Vladimir Putin confirming what had been rumoured on Tuesday. "Referendums" will now take place in various Russian-controlled territories and a partial mobilisation of troops will strengthen the country's numbers after recent setbacks. The decision has caused a stir in energy markets, with oil trading aro

21-09-2022 09:29 GMT by Craig Erlam

Japanese yen steady ahead of Fed, BoJ

USD/JPY continues to show limited movement this week. In the North American session, USD/JPY is trading at 144.10, up 0.27%. BoJ unlikely to change policy The Japanese yen has depreciated by over 20% this year, and the yen's slide will be high on the agenda at the Bank of Japan's meeting on Thursday.

21-09-2022 08:40 GMT by Kenneth Fisher

Market Insights Podcast (Episode 376)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss Chinese interest rates, Japanese inflation and preview the week's central bank meetings.

20-09-2022 13:49 GMT by Craig Erlam

Yields surge as Fed begins 2-day policy meeting, Riksbank sets the tone, Mixed housing data, dollar higher, Nasdaq embraces crypto

US stocks are weakening as Wall Street expects the Fed to remain aggressive with their fight against inflation and as Ford reminds us supply chain issues are still troubling. Yields are surging as the inflation-fighting Fed is expected to remain relentless with the tightening of policy, which is raising the risk of a severe recession.

20-09-2022 12:44 GMT by Edward Moya

Oil lower, gold stumbles

Oil Oil prices are lower as energy traders await a wrath of central bank decisions that will trigger mid-cycle slowdowns that will cripple the short-term crude demand outlook. Commodities are broadly weaker as this week is all about the aggressive monetary policy tightening to combat inflation. OPEC+ may have a strong case to lower output after this week’s central bank decisions. A global economic slowdown is here and unless the oil market sees some surprise disruptions or broader market rally

20-09-2022 12:37 GMT by Edward Moya

USD/CAD jumps as Canadian CPI falls

The Canadian dollar is sharply lower today. In the North American session, USD/CAD is trading at 1.3329, up 0.59% on the day. Canada's inflation surprises to the downside Canada's August inflation report fell to 7.0%, down sharply from 7.0% in July and below the consensus of 7.3%.

20-09-2022 09:53 GMT by Kenneth Fisher

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