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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

Aussie rally continues, business confidence next

The US dollar has continued its retreat against most of the major currencies today. The Australian dollar has jumped on the bandwagon, climbing about 2% in just two days.

12-09-2022 11:16 GMT by Kenneth Fisher

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

Oil bounces back, gold edges higher

Oil higher despite demand concerns Oil has recovered earlier losses to trade around 1% higher on the day. Crude could extend its winning run to three sessions if it holds on, recovering from the lows which came on the back of lower global growth expectations and Covid lockdowns in China.

12-09-2022 07:13 GMT by Craig Erlam

Risk rebound continues

European stocks are off to a positive start on Monday, following a relatively muted day in Asia amid bank holiday closures in China, Hong Kong and South Korea. UK growth continues to struggle The UK economy grew slightly less than expected in July, with growth supported by consumer-facing services on the back of the Women's EUROs and the Commonwealth Games. With the additional bank holiday this month, the economy could be facing a small technical recession, albeit one that won't be nearly as bad

12-09-2022 07:08 GMT by Craig Erlam

British pound rallies as USD retreats

GBP/USD has started the trading week with sharp gains. In the European session, GBP/USD is trading at 1.1678, up 0.80% on the day. Pound soars despite weak UK data It's a busy economic calendar this week in the UK. The markets were treated to a data dump today, highlighted by GDP and Manufacturing Production. In July, GDP grew by a modest 0.2% MoM, shy of the estimate of 0.5%, but an improvement from the -0.6% reading in June.

12-09-2022 06:44 GMT by Kenneth Fisher

Week Ahead - All About Inflation, BOE decision pushed back, Xi to meet Putin

As the world mourns the death of Queen Elizabeth II, the longest-serving British monarch, a series of royal protocols will now unfold. Her majesty was a reassuring constant throughout a world that was always changing. The world will now reflect on memories of her Majesty. The financial world will see some scheduling changes but will mostly roll on.

09-09-2022 15:27 GMT by Edward Moya

Markets Today: World mourns Queen Elizabeth II, Stocks Rally despite more hawkishness, Oil higher on supply risk and weaker dollar, Gold rises, Bitcoin jumps

As the world mourns the death of Her Majesty Queen Elizabeth II, world leaders pay tribute for her incredible service and leadership. The UK enters a 10-day mourning period that will see some events delayed or suspended. The BOE announced they will push back their interest rate decision to September 22nd.

09-09-2022 13:00 GMT by Edward Moya

Market Insights Podcast (Episode 373)

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 Queen Elizabeth II's legacy, the ECB policy decision, the UK energy plan, and Ethereum's Merge. They also discuss what the week ahead has in store for financial markets.

09-09-2022 12:58 GMT by Edward Moya

AUD soars as China's inflation drops

The Australian dollar has posted sharp gains today. In the European session, AUD/USD is trading at 0.6837, up 1.27%. China inflation falls unexpectedly China's economy has been stalling, as global demand has weakened and China rigorously enforces a zero-Covid policy.

09-09-2022 08:16 GMT by Kenneth Fisher

Pound soars as US dollar retreats

GBP/USD has recorded sharp gains today. In the European session, GBP/USD is trading at 1.1608, up 0.92% on the day.

09-09-2022 06:51 GMT by Kenneth Fisher

USD/CAD slides ahead of Canada employment data

The Canadian dollar usually is calm prior to the North American session, but USD/CAD has posted steady gains in the Asian and European sessions. USD/CAD is trading at 1.2993, down 0.73% on the day. Canada's job market expected to rebound Canada releases the August employment report later today, with a market consensus of 15.0 thousand.

09-09-2022 05:08 GMT by Kenneth Fisher

ECB hike sends euro soaring

EUR/USD hasn't posted a winning week since August, but a spectacular rise today should put that trend to rest. In the European session, the euro is trading at 1.0102, up an impressive 1.03%. ECB delivers There were plenty of expectations ahead of Thursday's ECB meeting, as the markets waited to see if the ECB would raise rates by 0.75% or play it safe with a smaller hike.

09-09-2022 04:18 GMT by Kenneth Fisher

Back to school, ECB signals more hikes to come, Powell sticks to hawkish script, Bitcoin hovers around $19k

Parents are rejoicing back to school time and Wall Street is embracing the consistency in the Fed’s messaging that they will keep at it until the job is done with inflation. Stocks are rising after Fed Chair Powell stuck to his hawkish script and affirmed the commitment to tighten policy until inflation is back towards its target.

08-09-2022 12:48 GMT by Edward Moya

AUD/USD falls on strong US jobs data

The Australian dollar is in negative territory today. In the North American session, AUD/USD is trading at 0.6739, down 0.43%. US unemployment claims propels USD higher US unemployment claims fell to a 3-month low, another indication that the US job market remains robust.

08-09-2022 11:14 GMT by Kenneth Fisher

Sliding yen has Tokyo worried

The Japanese yen remains under pressure. In the North American session, USD/JPY is trading at 143.96, up 0.14%.

08-09-2022 09:58 GMT by Kenneth Fisher

Will ECB deliver 75 basis point hike?

EUR/USD has stabilized today, after sliding 1.0% on Wednesday. In the European session, EUR/USD is trading at 1.0009, up 0.09%. All eyes on ECB What can we expect from the ECB at today's meeting?

08-09-2022 07:02 GMT by Kenneth Fisher

Oil bounces back, gold recovers

OPEC+ will be watching closely Oil prices are rebounding slightly on Thursday, up almost 1%, after collapsing more than 5% a day earlier on renewed global growth concerns. With policymakers around the world still hawkish on interest rates, most notably in the US, and China locking down major cities in its zero-tolerance fight against Covid, the demand outlook is weakening. After such a long period of supply driving the crude price, it's demand that appears to be dominating now with traders antic

08-09-2022 04:53 GMT by Craig Erlam

ECB just getting started

A mixed session in Asia overnight after Wall Street rebounded on Wednesday, while Europe is poised to open a little higher as well. It's been a frankly awful few weeks for stock markets so yesterday's gains will come as a mild relief, albeit one I don't think anyone is getting particularly excited about. Given the economic backdrop, this could be nothing more than a dead cat bounce.

08-09-2022 04:51 GMT by Craig Erlam

Oil’s bloodbath, gold shines

Oil The oil market is a blood bath as the crude demand outlook took a major hit after Chinese and US trade data showed global demand is sharply weakening. It appears the risk of losing Russian energy supplies is no longer keeping oil prices supported and that has energy traders solely fixated on the demand side drivers. WTI crude could hold $80 given how strong the US economy remains and now that most of the demand shock from China's deteriorating COVID situation has been priced in. Gold Ju

07-09-2022 12:53 GMT by Edward Moya

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