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
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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
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
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
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
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 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
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
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
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
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
It has been a busy week for the British pound. GBP/USD has climbed 0.66% today and is trading at 1.1566.
14-09-2022 09:48 GMT
by Kenneth Fisher
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
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
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
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
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
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
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
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