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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

Aussie stabilizes after slide, NFP looms

After three straight losing sessions, the Australian dollar is in positive territory today. In the European session, AUD/USD is trading at 0.6802, up 0.21%. It has been a rough stretch for the Australian dollar, which fell 2.89% in August.

02-09-2022 07:03 GMT by Kenneth Fisher

Euro rebounds after sharp losses, NFP next

The euro is in positive territory today after taking a nasty spill on Thursday. In the European session, EUR/USD is trading at 0.9984, up 0.40%. Euro slides as risk appetite slides Thursday was a day to file away and move on for the euro, as EUR/USD tumbled 1.07%.

02-09-2022 05:20 GMT by Kenneth Fisher

Oil prices rebound, gold struggling

JCPOA talks seemingly stall but Macron remains confident Oil prices are higher today after falling close to their summer lows over the course of the week. The rebound comes as nuclear talks between Iran and the US appear to have stalled, with the former claiming they had sent a "constructive" response to proposals and the latter quickly deeming them "not constructive".

02-09-2022 04:33 GMT by Craig Erlam

All eyes on the jobs report

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

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