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On the fence

A relatively slow session so far in the middle of the week, with the focus very much still on the Fed and interest rates ahead of the Jackson Hole Symposium that kicks off tomorrow. It's interesting that the fear of what could be said is seemingly having a far greater impact on sentiment and the markets than what has actually been communicated in recent weeks. Investors have repeatedly turned a blind eye to Fed commentary since the last meeting which has enabled stock markets to recover a lot of

24-08-2022 08:43 GMT by Craig Erlam

Pound under pressure, US Durable Goods looms

The British pound has reversed directions today and is in negative territory. In the European session, GBP/USD is trading at 1.1778, down 0.44%. Weak US New Home Sales sends pound higher Tuesday was an interesting day for the pound.

24-08-2022 07:34 GMT by Kenneth Fisher

Oil jumps, gold lower as dollar rally halted

Oil higher on soft US data Crude prices are rallying as the dollar’s rally came to abrupt halt on growth concerns. A weakening US economy should be bad news for oil, but today’s soft economic readings suggest that OPEC+ will easily be able to justify production cuts soon. The oil market will remain tight whether business activity continues to weaken sharply or if economic growth remains choppy. Gold/USD Gold got its groove back after the dollar plunged after a round of ugly US economic data

23-08-2022 15:18 GMT by Edward Moya

Volatile session, US service PMIs plunge, housing keeps on cooling, bitcoin rises

US stocks edged lower after a wrath of weakening economic data and after Macy’s wasn’t that pessimistic about the consumer. Financial markets will remain in choppy waters until Fed Chair Powell’s Jackson Hole speech on Friday.

23-08-2022 15:16 GMT by Edward Moya

GBP/USD jumps on weak US housing data

The British pound has jumped 0.82% today, as the currency has rebounded somewhat from its worst week of the year. GBP/USD plunged 2.53% last week, as the US dollar has found its mojo after weeks of beating a retreat.

23-08-2022 10:14 GMT by Kenneth Fisher

Choppy trade

It's been a choppy day of trade, with much of Asia and Europe treading water while the US is expected to open marginally higher. It's clear that investors already have an eye on the Jackson Hole Symposium later in the week and we're perhaps seeing some apprehension and anxiety ahead of that. I'm not entirely sure where that has come from because they've been perfectly happy to bat away hawkish warnings in recent weeks and if anything, the data has turned slightly in their favour. It may simply b

23-08-2022 09:05 GMT by Craig Erlam

Oil moves higher, gold eyes Jackson Hole

Saudi Arabia has no appetite for lower oil prices Oil prices are rising again on Tuesday, building on the recovery at the start of the week following output warnings from Saudi Arabia. Considering what we've seen in oil markets this year, the repeated inability of producers to hit output targets and the record profits of oil companies, it's quite staggering that the largest member of the OPEC+ alliance is even considering cutting production to address the falling price. It begs the question; eve

23-08-2022 09:00 GMT by Craig Erlam

NZD drifting, US New Home Sales next

The New Zealand dollar is paddling in calm waters, as NZD/USD trades close to 1-month lows. In the European session, NZD/USD is trading at 0.6176, up 0.10%.

23-08-2022 07:11 GMT by Kenneth Fisher

Euro drops to new 20-year low

EUR/USD has stabilized after a rough start to the week. In the European session, EUR/USD is trading at 0.9931, down 0.10% on the day and its lowest level since November 2002. After weeks in retreat, the US dollar has rebounded and is showing broad strength.

23-08-2022 05:00 GMT by Kenneth Fisher

Crude demand outlook takes a hit, gold stumbles on strong dollar

Oil Oil bulls thought they were in the clear, but ‘just when they thought they were out, they pull me back in.’ Oil’s true enemy is global growth fears and they are not going away anytime soon. In addition to a weakening crude demand outlook, Iran reportedly gave into a ‘red line demand’ that might be a gamechanger in reviving the elusive nuclear deal.

22-08-2022 11:45 GMT by Edward Moya

Europe’s energy crisis, Jackson Hole, crypto resilience

This was supposed to be a quiet Monday, but inflation pressures are heating up again over Europe’s troubling energy crisis, crop shortages from severe heat and droughts, and production shutdowns in China. Stocks are declining as it looks like inflation will continue to rise and that should keep the Fed staying hawkish. Energy Crisis Europe’s recession is a foregone conclusion, especially as the risks of disruptions for energy supplies remain elevated. Maintenance for Nord Stream 1 is a big ris

22-08-2022 11:41 GMT by Edward Moya

Euro slides to 20-year low

It was a case of the Monday morning blues for the euro. The week started with EUR/USD falling below parity, a psychologically significant line.

22-08-2022 11:32 GMT by Kenneth Fisher

Market Insights Podcast (Episode 367)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the LPR cut in China, maintenance on Nord Stream 1 and bitcoin.

22-08-2022 08:59 GMT by Craig Erlam

Yen falls to 137 as US dollar shines

The Japanese yen is drifting at the start of the week. In the European session, USD/JPY is trading at the 137 line. The US dollar flexed some muscles last week, posting strong gains against the major currencies.

22-08-2022 08:18 GMT by Kenneth Fisher

Oil slips, gold under pressure

Oil choppy as traders await JCPOA decision Oil prices are off more than 1% this morning as choppy trade continues. There remain many factors influencing the oil price right now from a tight market to a diminishing growth outlook and a potential Iran nuclear deal.

22-08-2022 07:06 GMT by Craig Erlam

Nervously awaiting Jackson Hole

Stock markets are off to a bad start on Monday as investors question whether the recovery trade has gone too far. Last week brought an end to the late summer winning streak that saw stock markets recover a significant - and some would argue overly so - portion of the losses endured this year. And it seems that has set the tone going into this week, with Asia and Europe posting losses of more than 1% and US futures pointing to a similar open. Naturally, all eyes are on Jackson Hole later in the w

22-08-2022 07:00 GMT by Craig Erlam

Cdn. dollar down despite solid retail sales

The Canadian dollar is coming off a rough week, as USD/CAD climbed 1.70%. In today's European session, USD/CAD is trading at the 1.30 line. Canadian retail sales beats estimate Canadian retail sales jumped 1.1% in June, which was much stronger than the 0.3% forecast.

22-08-2022 05:47 GMT by Kenneth Fisher

Gold - Is the recovery over?

OANDA Senior Market Analyst Craig Erlam discusses whether gold can break $1,800 or if the recent rally is over.

19-08-2022 13:32 GMT by Craig Erlam

Week Ahead - On to Jackson Hole

Jackson Hole has been heavily discussed since the Fed's supposed "dovish pivot" last month when it adopted a more data-dependent stance. While policymakers have pushed back against the idea of a pivot, markets have continued to price in a slower path of tightening.

19-08-2022 13:04 GMT by Craig Erlam

Oil remains steady, gold under pressure

Are oil prices stabilising? Oil prices are paring yesterday's gains in what is yet another volatile session and week. The list of downside risks has definitely grown lately, with growth certainly top of it.

19-08-2022 07:50 GMT by Craig Erlam

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