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Steady post-inflation shock
Stock markets are a bit mixed on Thursday following a rollercoaster week in the run-up to, and aftermath of, the US inflation report. Safe to say, investors got ahead of themselves in a desperate attempt to board the peak inflation train early. The collapse on Tuesday - carrying into Wednesday in Asia and Europe - looked quite severe on the face of it but it was simply an unwinding of positions built on the anticipation of a good set of numbers in the days leading up to it. While the Fed is no
15-09-2022 04:06 GMT by Craig Erlam
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Stocks rebound, No big surprises from PPI, crypto outlook
Following the biggest drop in more than two years, US stocks are rebounding as investors still believe the Fed will pivot before they risk sending the economy into a severe recession. ​ Recession risks are obviously going up now that the Fed will likely need to take rates above 4.00%, but it is still unlikely we will see them take rates to the 5.00% level. ​ Today’s PPI numbers show that underlying trends are improving and that should lead to optimism that we will continue to see prices come dow
14-09-2022 15:49 GMT by Edward Moya
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Oil rallies as Chengdu eases lockdowns, gold weakness continues
Oil rebounds as China relaxes Covid restrictions Oil is rebounding as China begins to ease some of their COVID lockdowns. ​ The next major move in crude was always going to be triggered by the world’s biggest oil consumer and the loosening of lockdown restrictions should put a firm bottom in place. ​ In addition to Chengdu’s easing of COVID restrictions, the White House is debating when they should refill the Strategic Petroleum Reserve (SPR). ​ Crude prices seem poised to rally further now that
14-09-2022 15:42 GMT by Edward Moya
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Market Insights Podcast (Episode 375)
Jonny Hart discusses what is driving markets today with OANDA Senior Market Analyst Ed Moya in New York.  This week they talk about a very hot US inflation report, China's COVID situation and the impact on oil prices, what seems to be a neverending crypto winter, and Ethereum's Merge.
14-09-2022 15:12 GMT by Edward Moya
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Oil outlook uncertain, gold under pressure
A still uncertain outlook for oil demand Oil prices suffered alongside risk assets on Tuesday, albeit to a much lesser extent, with the threat to the US economy of much higher interest rates a downside risk. Of course, it's yet another risk that I'm sure OPEC+ will be keen to stress it would adapt to in its desperation to ease market volatility and keep prices high. The oil price is a little higher after the IEA monthly report which claimed oil use for power generation will hit 700,000 barrels p
14-09-2022 08:08 GMT by Craig Erlam
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A harsh lesson
Stock markets have stabilized a little after Tuesday's rout which saw risk assets pummelled across the board. There appears to have been a tendency in recent months to front-run certain releases in the hope that it's going to prove to be the "pivot" moment when everything starts to look up, central banks can ease off the brake and risk assets will have bottomed. That certainly looks to have been the case over the last week as investors were lured into a false sense of security following the July
14-09-2022 08:03 GMT by Craig Erlam
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NZ dollar falls to 26-month low
NZD/USD remains under pressure and is trading below the symbolic 0.60 level. Earlier today, the pair fell to 0.5976, its lowest level since May 2020. New Zealand dollar slides after US inflation data It was Black Tuesday for the New Zealand dollar, as NZD/USD declined by 2.24%.
14-09-2022 07:50 GMT by Kenneth Fisher
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USD/JPY slides after BoJ rate check
The Japanese yen has posted sharp gains today. USD/JPY is trading at 143.09, down 1.00% on the day. Is Japan planning a currency intervention? The yen has taken investors on a roller-coaster ride this week.
14-09-2022 06:45 GMT by Kenneth Fisher
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Aussie stabilizes after freefall
The Australian dollar is licking its wounds today, after a brutal collapse on Tuesday. AUD/USD is trading at 0.6739 in the European session, up 0.12%. US inflation sends USD soaring On Tuesday, I noted that the Australian dollar had edged higher, thanks to decent consumer and business confidence data.
14-09-2022 04:26 GMT by Kenneth Fisher
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Oil fundamentals remain intact, gold shines
Oil prices rise Crude prices are rising as the dollar weakens and prospects of an Iran nuclear deal revival fade away. Risk appetite is back and that is mainly due to the falling dollar, which is adding fuel to the rally in crude.
13-09-2022 14:42 GMT by Edward Moya
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Scorching inflation report, done deal for Fed to go 75bp in Sept and probably also in November, dollar surges, bitcoin plunges
US stocks are crumbling after a very hot inflation has Wall Street nervous that they were too optimistic in forecasting the end of the Fed’s tightening cycle. ​ Markets are no longer confident that the Fed will only deliver a 75bp increase this month, a half-point increase in November and a 25-basis-point increase in December. The Fed will likely have to be even more aggressive with raising rates and that is bad news for risky assets.
13-09-2022 12:44 GMT by Edward Moya
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Euro slides after hot US inflation report
The US dollar, on the ropes for the past few days, came out swinging today and has posted sharp gains against all of the major currencies. In the North American session, EUR/USD is trading at 1.0012, down 1.12%.
13-09-2022 11:16 GMT by Kenneth Fisher
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Australian dollar extends gains on solid data
The Australian dollar continues to rally and has climbed above the 0.69 level for the first time in September. AUD/USD has gained 150 points since Thursday, as the US dollar continues to lose ground. Australia released key confidence indicators earlier today, and the decent numbers gave the Aussie a slight push higher.
13-09-2022 06:13 GMT by Kenneth Fisher
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Stocks rally ahead of key inflation report, Ukraine's counteroffensive gains momentum, dollar drops, o ethereum profit-taking benefits bitcoin and others
Wall street eyes US inflation report US stocks are rising as investors anticipate inflation to show even further signs of slowing and as Ukraine’s counteroffensive gains momentum in the East. ​ The start of the trading week was supposed to be all about the August inflation report, but Kyiv’s sudden momentum has many hoping that this moment is a turning point in the war against Russia.
12-09-2022 14:47 GMT by Edward Moya
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Oil turns negative, gold hurt
Oil  Commodities across the board got crushed after a very hot inflation report sent the dollar higher as expectations were boosted for a much more aggressive Fed. Inflation is proving to be much more troubling and that is raising the risk of the Fed sending the US economy into a recession. ​ Energy traders are looking at a tight oil market that is going to have a rough short-term outlook as the consumer is going to be a lot weaker given the robust rate of inflation with core prices. China’s zer
12-09-2022 12:40 GMT by Edward Moya
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Euro climbs to 3-week high
The euro is red hot, having gained close to 2% in just two days. EUR/USD is trading at 1.0144, up 0.97% on the day. ECB gives euro boost The ECB showed last week that its hawkishness was not limited to words, as the central bank delivered a massive 0.75% rate hike, for only the second time in its history.
12-09-2022 08:37 GMT by Kenneth Fisher
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