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Stock markets in Europe opened positively on Friday after what has been an otherwise rotten week, while Asia was fairly mixed ahead of the US jobs report. It will be interesting to see whether Europe can maintain the rebound today considering we're heading into the weekend not certain that gas will start flowing through Nord Stream 1 again tomorrow. Grid data suggests it will but until the gas starts actually flowing, it remains a risk.

02-09-2022 04:30 GMT by Craig Erlam

Sell in September, US data impresses, dollar can't be stopped, Bitcoin below $20k

It seems most of Wall Street believes September will be a month we won’t want to remember. We are less than two weeks away from a pivotal inflation report and three weeks from the FOMC meeting. The repositioning of portfolios is just beginning as the Fed accelerates the balance sheet runoff, while we are barely seeing signs that real economy is starting to feel the impact of tightening. US stocks are declining after another round of strong labor and manufacturing data confirm the Fed’s hawki

02-09-2022 03:56 GMT by Edward Moya

Oil crushed on USD and China lockdowns, gold tests $1700

Oil Crude prices are tumbling as China continues to struggle with its fight against COVID and as global recession fears grow as rates surge. China is the key question mark for the crude demand outlook and it seems that reopening momentum will remain elusive. The lockdown of Chengdu, a vital transportation hub, will trigger another massive shock for the Chinese economy. The mood is risk-off on Wall Street and that is driving the dollar to fresh records, which is also putting added pressure on

01-09-2022 14:31 GMT by Edward Moya

EUR/USD - Testing parity ahead of the jobs report

OANDA Senior Market Analyst Craig Erlam discusses EURUSD as it tests parity ahead of Friday's jobs report and the ECB rate decision next week.

01-09-2022 12:09 GMT by Craig Erlam

Canadian dollar falls on soft Mfg. PMI

The Canadian dollar has extended its losses for a third straight day. In the North American session, USD/CAD is trading at 1.3175, up 0.32%. Canada's Manufacturing PMI contracts Canada's Manufacturing PMI fell into negative territory in August, with a reading of 48.7, down from 52.5 in July.

01-09-2022 11:37 GMT by Kenneth Fisher

Off to a bad start

There's been a lot of economic data to digest so far on Thursday and yet nothing has really changed as far as markets are concerned, with September kicking off as August ended. We've rapidly transitioned from pivot-induced euphoria to recession anxiety. All because central bank policymakers have repeated messages that their colleagues delivered prior to Jackson Hole but were then ignored.

01-09-2022 11:15 GMT by Craig Erlam

Euro falls on soft German manufacturing data

The euro has posted sharp losses today and has dropped below parity. In the North American session, EUR/USD is trading at 0.9989, down 0.65%. German Manufacturing PMI remains in contraction Germany's manufacturing sector continues to struggle.

01-09-2022 09:05 GMT by Kenneth Fisher

Pound extends losses after weak Mfg. PMI

The British pound can't buy a break and has fallen for a fifth straight day. GBP/USD is trading at 1.1586 in Europe, down 0.29%. UK Manufacturing PMI contracts The UK manufacturing sector has been struggling for quite some time and in August, manufacturing production declined.

01-09-2022 06:48 GMT by Kenneth Fisher

Aussie yawns after Capex dips

The Australian dollar is showing limited movement today. In the European session, AUD/USD is trading at 0.6835, down 0.10%. Australian Capex falls for a second successive quarter Australian Private Capital Expenditure disappointed in Q2, with a reading of -0.3% (vs -0.3% in Q1), well below the forecast of 1.5%.

01-09-2022 05:09 GMT by Kenneth Fisher

Oil and gold decline

Oil Crude prices are falling as energy traders anticipate a brutal period for global growth. China factory activity remains depressed and another eurozone record high inflation reading has raised the prospects of much more aggressive ECB tightening that could trigger a severe recession. WTI crude pared losses after the EIA crude oil inventory report posted a hefty decline. The EIA report clearly showed demand destruction is showing up as gasoline demand struggles and crude exports soften.

31-08-2022 15:54 GMT by Edward Moya

Stocks drop ahead of NFP, the new ADP, China weakens, Oh Snap, bitcoin fights to hold $20k

US stocks are weakening ahead of a key labor market report that should pave the way for further aggressive rate hikes by the Fed. US Data So it begins. The labor market is cooling as private payrolls clearly showed a more conservative pace of hiring. ADP’s new methodology was in place and showed job growth slowed for a second-consecutive month as companies added the fewest jobs since early 2021. After taking a month, the ADP report showed the change in US private employment rose by 132,000

31-08-2022 15:50 GMT by Edward Moya

Market Insights Podcast (Episode 370)

Jonny Hart discusses what is driving markets today with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about the eurozone inflation, ECB expectations, the new ADP report, preview Friday's nonfarm payroll report and cryptos.

31-08-2022 15:41 GMT by Edward Moya

Swiss pares losses, CPI next

USD/CHF moved higher earlier in the day and briefly pushed above 0.9800 but has pared these gains. The Swiss franc is having trouble finding its footing, as USD/CHF has climbed 350 points in the past two weeks. Switzerland releases inflation and retail sales reports on Thursday.

31-08-2022 10:56 GMT by Kenneth Fisher

Euro inflation rises, but euro yawns

The euro continues to have a calm week. In the North American session, EUR/USD is showing little movement as it trades a whisker above the parity line. Eurozone inflation tops 9% Inflation in the eurozone continues to move higher.

31-08-2022 09:49 GMT by Kenneth Fisher

Aussie shrugs off soft construction data

The Australian dollar has stabilized today after sharp losses on Tuesday. In the European session, AUD/USD is trading at 0.6853, unchanged on the day. Construction Work Done slides Australia's construction sector continues to post soft numbers this week.

31-08-2022 08:03 GMT by Kenneth Fisher

Oil edges lower, gold slips

Oil edges lower but Saudi comments are still supportive Oil prices are a little lower again for a second day after spiking earlier in the week. It's a little indicative of the mood in the rest of the markets at the moment and the lack of certainty.

31-08-2022 06:15 GMT by Craig Erlam

Sentiment slips in Europe

Stock markets in Europe turned lower again on Wednesday while US futures are more mixed, similar to what we saw in Asia overnight. Conditions remain choppy in the aftermath of Jackson Hole last week. There's clearly a lack of conviction in the markets following a lot of hawkish central bank commentary in recent days.

31-08-2022 06:13 GMT by Craig Erlam

Japanese yen ticks higher on strong data

After starting the week with sharp losses, the Japanese yen has settled down. In the European session, USD/JPY is showing limited movement, trading at 138.66. Japanese data improves Japan posted solid numbers today, as retail sales and industrial production both improved in July.

31-08-2022 05:17 GMT by Kenneth Fisher

Oil slumps, gold slides as risk aversion firmly in place

Oil Oil prices declined as the global growth outlook continues to deteriorate and as geopolitical risks have yet to lead to any disruptions for crude exports. To start the trading week, it seemed energy traders were anticipating some disruptions from either Iraq or Libya and so far that doesn’t seem to be the case. Today, everything seems to be turning bearish for oil: First, global markets still have a Fed headache that has everyone bracing for further pain for households and businesses.

30-08-2022 13:05 GMT by Edward Moya

Stocks turn negative, US data supports further large rate hikes, Hungary hikes, bitcoin declines as risk aversion firmly in place

Turnaround Tuesday disappeared faster than dessert does at the Moya household. US stocks turned negative after confidence and job opening data supported the argument for the Fed to stick to an aggressive stance in fighting inflation.

30-08-2022 12:58 GMT by Edward Moya

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