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Extreme hawkishness, risky assets broadly head lower, Housing cools, UAE plans on more output, gold slides, cryptos crushed

This week is not just about the Fed, but about a wrath of central banks that are mostly considering super-sized rate hikes. It is difficult to be buying up stocks with this lousy macro backdrop, persistent inflation pressures, global growth weakness, and slashed earnings outlooks.

19-09-2022 12:46 GMT by Edward Moya

Oil, gold under pressure from central banks

Oil Crude prices were under pressure as fears of an aggressive central bank tightening are driving concerns for a quickly weakening global economy and as the UAE plans to increase oil output. The global economy is slowing and that has been troubling for the crude demand outlook. Oil pared losses as Wall Street saw a broad reversal at the NY open. While pessimism remains elevated for global growth, extreme positioning before the Fed seems unlikely. Gold Gold is breaking as surging real rate

19-09-2022 12:37 GMT by Edward Moya

Australian dollar falls, RBA minutes loom

The Australian dollar has started the week with considerable losses. In the North American session, AUD/USD is trading at 0.6694, down 0.40%. Will minutes shed light on RBA's plans? It's a light calendar this week for Australian releases.

19-09-2022 12:25 GMT by Kenneth Fisher

SNB expected to deliver 0.75% hike

The Swiss franc has started the week in negative territory. In the North American session, USD/CHF is trading at 0.9674, up o.31%. Swiss National Bank to continue tightening The Times They Are a Changin. This is nowhere more apparent than in Switzerland, where the SNB is poised to end the negative rate era on Thursday.

19-09-2022 10:14 GMT by Kenneth Fisher

USD/JPY pushes above 143, Core CPI next

The Japanese yen is trading lower today. In the North American session, USD/JPY is trading at 143.52, up 0.44%.

19-09-2022 09:12 GMT by Kenneth Fisher

GBP dips, UK says goodbye to Queen Elizabeth

The British pound has started the week in negative territory after posting a losing week. GBP/USD is trading at 1.1374, down 0.31% on the day.

19-09-2022 05:22 GMT by Kenneth Fisher

Oil steadies, gold plunge, bitcoin under pressure

OPEC+ threats lending support It's been another volatile week for oil prices, with global growth fears dampening the demand outlook but OPEC+ sitting in the background ready to respond if prices drop too far. Brent crude remains above $90 at the moment which may stop the alliance from calling one of the emergency meetings it warned of but if growth fears continue to rise, that may change.

16-09-2022 17:35 GMT by Craig Erlam

Not what investors had in mind

A confidence hit This isn't the end of the week that investors had in mind when they were front-running Tuesday's inflation report in anticipation of another deceleration in price growth. The mood has turned far more pessimistic over the last few days, from the possibility of the much discussed "dovish pivot" from the Fed next week to a potential 1% hike and recession next year. That's quite the shift on the back of one economic release but that's the weight that investors had put on the report

16-09-2022 17:33 GMT by Craig Erlam

Week Ahead - Aggressive tightening

Many on Wall Street are watching the Fed’s rate hiking cycle and are getting nervous they will tip the economy into a recession. With scorching inflation, the FOMC may consider a full-point rate hike but will likely settle on delivering its third consecutive 75 basis-point increase. At Wednesday’s policy meeting, Fed Chair Jerome Powell will likely acknowledge downside risks to growth are here and unrelenting inflation is forcing them to maintain an aggressive pace of tightening.

16-09-2022 16:28 GMT by Craig Erlam

US Close: Stocks remain in doom and gloom mode after FedEx Warning, Oil's bad week, Gold steadies, Bitcoin follows equities lower

US stocks were dealt another blow after FedEx warned that the economy was about to enter a ‘worldwide recession.’ Wall Street was already nervous that the Fed’s inflation fighting mission was going to trigger a recession, but now it seems corporate America is already showing signs that the economy is slowing. FedEx FedEx shares plunged the most in forty years after they had withdrawn their guidance. A weakening economy and rising competition from Amazon complicate how FedEx will perform this

16-09-2022 14:46 GMT by Edward Moya

New Zealand dollar extends losses

The New Zealand dollar remains under pressure, as NZD/USD is having a dreadful week, down 2.47%. In the North American session, NZD/USD is trading at 0.5950, down 0.27%. NZ Manufacturing PMI surprises to the upside It has been a solid week for New Zealand data, but that hasn't helped the New Zealand dollar, which has fallen to its lowest level since May 2020.

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

Pound slides after soft retail sales

The British pound continues to lose ground after a brutal retail sales report. The pound dropped as low as 1.1350 earlier today, its lowest level since March 2020.

16-09-2022 04:13 GMT by Kenneth Fisher

Japanese yen - calm before the storm?

After some mid-week volatility, USD/JPY has settled down. In the European session, the yen is trading quietly at 143.59. Markets eye BoJ meeting For anyone following the Japanese yen, next week promises to be interesting, at the very least.

16-09-2022 03:13 GMT by Kenneth Fisher

USD/JPY - Will Japan intervene?

OANDA Senior Market Analyst Craig Erlam discusses the latest moves in USDJPY amid intervention warnings and what it could mean going forward.

15-09-2022 17:33 GMT by Craig Erlam

Crude lower, gold pummeled

Oil falls as US economy slows Crude prices got knocked again as demand fears intensified after a wrath of economic data shows the US economy is slowing down. Oil fundamentals are still mostly bearish as China’s demand outlook remains a big question mark and as the inflation fighting Fed seems poised to weaken the US economy. The US Department of Energy also clarified that the restocking of the Strategic Petroleum Reserve (SPR) won’t happen due to prices falling at a certain level and that th

15-09-2022 15:33 GMT by Edward Moya

Stocks lower on Fed fears, mixed US data, ethereum merge Success

US stocks edged lower as investors stare at a weakening economy that will get tested by an inflation-fighting Fed. The latest round of data suggests the Fed can stick to aggressive rate hikes as the labor market remains strong and as the economy slowly softens.

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

GBP/USD dips on strong US data, UK GDP next

The British pound is in negative territory today and has fallen below the 1.15 line. In the North American session, GBP/USD is trading at 1.1497, down 0.38%. US retail sales, jobless claims beat forecast US retail sales rose 0.3% MoM in August, rebounding from -0.4% in July.

15-09-2022 15:10 GMT by Kenneth Fisher

NZD steady after solid GDP

New Zealand GDP surprises on the upside New Zealand posted a stronger-than-expected GDP report for Q2. The economy climbed 1.7%, reversing the 0.2% decline in the first quarter.

15-09-2022 10:26 GMT by Kenneth Fisher

Australian dollar yawns after jobs report

The Australian dollar is showing little movement today after the solid Australian employment report. Australian employment rebounds The Australian labour market remains resilient, as indicated by a solid August employment report. The increase in employment of 33.5 thousand was very close to the consensus of 35 thousand, with the gain of 58.8 thousand full-time jobs especially impressive.

15-09-2022 05:46 GMT by Kenneth Fisher

Oil steady, gold vulnerable

Oil steady after inventory data Oil prices have steadied a little after rebounding strongly this past week. There are many forces dictating the price action in oil markets right now, with economic uncertainty right up there alongside a potentially unpredictable OPEC+.

15-09-2022 04:10 GMT by Craig Erlam

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