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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

British pound can't find its footing

Sterling falls to 2.5 year low The British pound is down sharply today as the downward trend continues. In the North American session, GBP/USD is trading at 1.1629, down 0.65%.

30-08-2022 12:39 GMT by Kenneth Fisher

Euro steady as German inflation accelerates

EUR/USD has edged higher for a second straight day, but has pared today's gains. In the North American session, EUR/USD is trading at 1.007, up 0.09%. German inflation rises to 7.9% German CPI is estimated to have climbed to 7.9% YoY in August, up from 7.5% in July and above the forecast of 7.8%.

30-08-2022 10:33 GMT by Kenneth Fisher

Swiss franc falls to 5-week low

USD/CHF is up for a third straight day. In the European session, the pair is trading at 0.9717, up 0.36%.

30-08-2022 08:50 GMT by Kenneth Fisher

Oil prices dip, gold under pressure

Saudi Arabia reinforces support Oil prices are easing a little with Brent potentially settling around $100 and WTI a little below around $95. While there remain many moving parts in the oil market at the moment, the comments last week from Saudi Arabia have reinforced support below the current price. It seems OPEC+ isn't interested in the oil price slipping much below $100 a barrel and while those warnings would be put to the test in the event of a nuclear deal, which still looks very challengin

30-08-2022 08:30 GMT by Craig Erlam

A curious rebound

Stock markets are bouncing back on Tuesday following a rocky couple of weeks as investors grew nervous about the economic impact of tightening. Fed Chair Jerome Powell could not have been more clear on Friday on the central bank's tightening stance and unlike the warnings from his colleagues, the message appeared to have finally gotten through. Which makes today's move all the more curious. It's not the fact that we're seeing a rebound as equity markets don't move in straight lines, rather it's

30-08-2022 08:25 GMT by Craig Erlam

USD/JPY stabilizes after hitting 139

The Japanese yen is in positive territory today after starting the week with sharp losses. USD/JPY is trading at 138.22, down 0.34%. Japan releases a host of events on Wednesday, including retail sales and consumer confidence.

30-08-2022 05:06 GMT by Kenneth Fisher

Stock selling continues, Europe in focus, bitcoin back above $20k for now

US stocks are declining after a weekend filled with global central bank hawkishness reinforced the message that global central bank tightening will deliver pain to households and businesses. Friday’s sharp selloff is continuing as expectations for the global energy crisis persist, which will keep inflation risks elevated and lead to a rapid deterioration of economic data. Powell sent a short and direct message that there won’t be a Fed pivot anytime soon and that has markets positioned for fur

29-08-2022 12:27 GMT by Edward Moya

Gold benefits on dollar rally break, oil rises

Gold edges higher as dollar rally halts Non-interest-bearing gold got crushed early as more global central bank rate hikes are getting priced in. Gold is edging higher as the dollar rally halted as the euro rises on expectations the ECB will deliver more rate hikes than investors initially thought.

29-08-2022 11:47 GMT by Edward Moya

NZD/USD falls to 6-week low

NZD/USD has stabilized today after ending the week with sharp losses. In the North American session, NZD/USD is trading at 0.6149, up 0.22% on the day.

29-08-2022 11:22 GMT by Kenneth Fisher

Euro rises to parity as ECB hints at 75bp hike

EUR/USD has edged higher today and is trading at the parity line. In the North American sesssion, EUR/USD is trading at 1.0019, up 0.57%. Euro bucks the trend, rises against greenback The US dollar has posted sharp gains against the major currencies, as Fed Chair Powell's hawkish speech at Jackson Hole left no doubt that the Fed will continue to tighten rates in its titanic battle with surging inflation.

29-08-2022 10:31 GMT by Kenneth Fisher

Yen slumps as Powell pledges tighter policy

The Japanese yen has started the week with sharp losses, with USD/JPY rising as high as 139.00 earlier today. In the European session, USD/JPY is trading at 138.52, up 0.75%. The month of August can't end soon enough for the yen, as USD/JPY has climbed 4.0%.

29-08-2022 07:58 GMT by Kenneth Fisher

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