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Stocks rebound as yields drop, dollar domination trade, BOC downshifts hikes, crypto insolvencies

US stocks are rebounding as the global bond market selloff takes a break. Economic momentum remains for the US economy and that could only improve if inflation continues to soften.

07-09-2022 12:39 GMT by Edward Moya

Japanese yen can't buy any love

The Japanese yen is down sharply for a second straight day. USD/JPY is trading at 144.87 in the North American session, up 1.45% on the day.

07-09-2022 10:14 GMT by Kenneth Fisher

Oil eyes OPEC+, gold under pressure

Calling OPEC+ bluff? It's not just the resolve of Japan’s Ministry of Finance that's being tested by the markets at the moment, with oil prices trading not far from their late summer lows despite the warning shot from OPEC+ earlier this week. While the 100,000 barrel cut wasn't fundamentally significant, it was clearly intended as a warning not to drive the price lower or face further cuts.

07-09-2022 09:35 GMT by Craig Erlam

Risk aversion remains strong

Asian markets ended mostly lower on Wednesday as trade data from China weighed on sentiment, while Europe is also lower amid heightened economic uncertainty. Trade data another blow Chinese imports and exports slumped much more than expected last month as the economy continued to stall under the weight of Covid lockdowns, heatwaves, a property market wobble, slower global demand and a weaker yuan. The headwinds facing the Chinese economy are becoming increasingly fierce and recent efforts to sho

07-09-2022 09:31 GMT by Craig Erlam

Canadian dollar steady ahead of BoC meeting

The Canadian dollar has edged higher today. In the European session, USD/CAD is trading at 1.3173, up 0.17%. BoC expected to remain aggressive The Bank of Canada meets later today and policy makers are expected to keep their foot on the pedal and deliver a sizeable hike of 0.75%.

07-09-2022 07:51 GMT by Kenneth Fisher

Aussie stabilizes on solid GDP

AUD/USD has posted slight losses today, trading at 0.6726. This follows a disastrous Tuesday, when the Aussie fell 0.92%.

07-09-2022 06:56 GMT by Kenneth Fisher

US Close – September Swoon, OPEC+ bounce faded, Gold back in danger zone, Bitcoin jitters, Memes under pressure

The September swoon is in play as a resilient economy paves the way for more Fed tightening. Stocks are going to struggle because too much of the economy is doing well and that leaves Wall Street vulnerable to an extended period of rising interest rates.

06-09-2022 16:21 GMT by Edward Moya

Euro dips as 0.75% ECB hike in question

EUR/USD slipped to a new 20-year low earlier today, falling to 0.9864. Currently, the euro is trading at 0.9910, down 0.20%. Is ECB backtracking on a super-size hike? Eurozone government yields fell sharply today on reports that the ECB may decide to scale down an expected 75 basis point hike on Thursday.

06-09-2022 13:12 GMT by Kenneth Fisher

Pound up as construction data beats estimate

The British pound is in positive territory today. In the North American session, GBP/USD is trading at 1.1535, up 0.13%. UK Construction PMI remains in contraction mode The UK PMIs releases for August are reflecting weak conditions across the economy.

06-09-2022 09:39 GMT by Kenneth Fisher

Aussie slips after RBA raises rates

The Australian dollar is in negative territory today. In the European session, AUD/USD is trading at 0.6763, down 0.51%. RBA raises by 50bp The RBA isn't getting much love, even after raising rates by 50 basis points earlier today.

06-09-2022 05:41 GMT by Kenneth Fisher

Brent edges lower after OPEC, gold rises

Brent steadies after OPEC+ boost Brent crude is a little lower today after seeing decent gains at the start of the week following the OPEC+ output announcement. The decision to reverse the 100,000 barrel per day increase in September was more symbolic than fundamentally significant, in that it doesn't really change the dynamics in the market but it will make traders think twice about driving prices lower in the way they have recently. The disturbing global economic outlook combined with the pros

06-09-2022 04:22 GMT by Craig Erlam

Steady after a rocky start

It's been a mixed start to trade on Tuesday, similar to what we saw in Asia overnight, and as we await the return of the US after the long bank holiday weekend. Europe in particular was rattled on Monday by the Gazprom announcement that came after the close on Friday in relation to Nord Stream 1. The latest move in the apparent weaponisation of energy supplies has once more created huge uncertainty ahead of the winter.

06-09-2022 04:14 GMT by Craig Erlam

Yen edges lower, household spending next

The Japanese yen remains under pressure. USD/JPY gained 1.92% last week and has extended its gains today.

05-09-2022 13:17 GMT by Kenneth Fisher

AUD/USD edges lower ahead of RBA decision

The Australian dollar has started the week with slight losses. In the North American session, AUD/USD is trading at 0.6798, down 0.19%. Will RBA stay aggressive with a 50bp hike? The Reserve Bank of Australia meets on Tuesday, with investors unclear as to the size of the next rate move.

05-09-2022 10:51 GMT by Kenneth Fisher

Euro hits 20-year low on oil shutdown

The euro fell below the 0.9900 line earlier in the European session but has pared its losses. Currently, EUR/USD is trading at 0.9937, down 0.19%. Euro falls on Nord Stream 1 shutdown US markets are closed for the Labour Day holiday.

05-09-2022 07:04 GMT by Kenneth Fisher

Oil eyes OPEC and Nord Stream 1, gold steady

OPEC+ meets after price cap announcement Today's OPEC+ meeting has been somewhat overshadowed by all the talk of oil price caps and Nord Stream 1. The group is expected to leave output targets unchanged but it's likely that a cut will be at least discussed which, if followed through on, would create more volatility and uncertainty at a time of considerable unease.

05-09-2022 05:41 GMT by Craig Erlam

Market Insights Podcast (Episode 371)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the US jobs report, 24-year high in USDJPY, oil ahead of the OPEC+ meeting and Nord Stream 1.

02-09-2022 12:16 GMT by Craig Erlam

Week Ahead - Rate Hikes Keep Coming

The countdown to the September 13 inflation report begins as investors fixate over a wrath of Fed speak, with special attention going towards Chair Powell’s Thursday discussion on monetary policy. It is a slow start to the trading week as US markets are closed on Monday for Labor Day. Tuesday contains the release of the August ISM services index.

02-09-2022 11:22 GMT by Craig Erlam

A welcome US jobs report

Investors appear relatively pleased with the jobs report despite some initial choppy trade following the release. Nonfarm payrolls nudges above forecast The headline NFP figure was a little larger than expected at 315,000 which may have created that initial unease as a knockout report could have effectively paved the way for a 75 basis point rate hike this month. But once you dig a little deeper, there are aspects of the report that will please the Fed and support the case for easing off the bra

02-09-2022 09:47 GMT by Craig Erlam

Yen edges lower as NFP close to forecast

It has been a week to forget for the Japanese yen, as USD/JPY has climbed 2.23% and has pushed across the symbolic 140 line. In the North American session, USD/JPY is trading at 140.57, up 0.26% on the day. US Nonfarm Payrolls within expectations There was plenty of anticipation ahead of today's nonfarm payrolls, with a consensus of 300 thousand.

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

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