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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

Aussie tumbles after hawkish Powell

The Australian dollar has started the week in negative territory, extending the sharp losses seen on Friday. In the European session, AUD/USD is trading at 0.6849, down 0.63%. US dollar flies after Powell's rate remarks The US dollar ended the week on a high note, courtesy of Fed Chair's hawkish speech at the Jackson Hole Symposium on Friday.

29-08-2022 04:58 GMT by Kenneth Fisher

Week Ahead - Fed needs more data

What will the jobs report tell us? The build-up to the Jackson Hole symposium last week was quite tense. Investors have spent the weeks since the July Federal Reserve meeting celebrating the "dovish pivot" and then in the days leading up to Powell's speech, doubt started to creep in.

26-08-2022 15:19 GMT by Craig Erlam

Market Insights Podcast (Episode 369)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. This week they discuss Fed Chair Jerome Powell's speech at Jackson Hole, US economic data and the UK energy price cap.

26-08-2022 14:28 GMT by Craig Erlam

Jackson Hole Reaction: No doves allowed, ECB hike expectations rise, Oil slumps, Gold lower, Bitcoin dips below $21k

US stocks declined after Fed Chair Powell delivered a short and clear message that they will continue to raise rates and hold them at a higher level until they are confident inflation is under control. The market reaction was for rate cuts to get priced further out and a minimal boost for additional pricing to get done before the end of the year. Powell is not budging on having restrictive policy and that should mean the economy will steadily weaken going forward. Powell drove home the point t

26-08-2022 11:19 GMT by Edward Moya

Euro edges up to parity ahead of Powell

EUR/USD has edged higher today and is trading at the parity line. It could be a volatile North American session, with Fed Chair Powell addressing the Jackson Hole central bank conference. German consumer confidence slides Germany posted another soft release today in what has been a miserable week.

26-08-2022 07:55 GMT by Kenneth Fisher

Oil stable at $100, gold eyes Powell speech

Oil steadies around $100 Oil prices are a little higher, with Brent hovering around $100 a barrel and WTI above $93. It's been well supported this week by comments from Saudi Arabia Energy Minister Abdulaziz bin Salman, who claimed there's a disconnect between market pricing and fundamentals, suggesting OPEC+ could cut output in the future. Suddenly the prospect of a nuclear deal between the US and Iran, or a global growth slowdown, isn't quite the bearish development for oil that many hoped.

26-08-2022 06:56 GMT by Craig Erlam

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