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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

Winning streak coming to an end?

Asia has ended the week in negative territory while Europe and the US may be on course to end their winning streaks amid choppy trade. August can often be an odd time for the markets, with summer holiday's often leading to reduced activity and interest. Of course, these days a quiet week in the markets is hard to come by and this week has certainly not been without drama.

19-08-2022 07:48 GMT by Craig Erlam

USD/CAD eyes 130, retail sales next

The Canadian dollar is lower for a third straight day. In the European session, USD/CAD is trading at 1.2984, up 0.29% on the day. Markets brace for soft Canadian retail sales The US dollar has rebounded this week against the majors, including the Canadian dollar. USD/CAD is on the verge of breaking above the 1.30 line, which has held firm since July 18th.

19-08-2022 06:47 GMT by Kenneth Fisher

Yen slide continues as inflation rises

The struggling Japanese yen is in negative territory for a fourth straight day. In the European session, USD/JPY is trading at 136.71, up 0.61%. Japanese Core CPI hits 14-year high Japan's core inflation continued to accelerate, with a gain of 2.4% YoY in July.

19-08-2022 04:12 GMT by Kenneth Fisher

Oil gains ground, gold struggling

Oil rallies after strong US numbers Oil prices rallied after another round of impressive US economic data boosted optimism for an improving crude demand outlook. The US economy still looks good and China’s economy could be ready to bounce back fairly soon. Momentum from yesterday’s bullish EIA crude oil inventory still lingers, but technical resistance at the $90 a barrel level is capping WTI’s rally for now. OPEC Secretary General Al Ghais reminded energy traders that OPEC could be in a posi

18-08-2022 13:58 GMT by Edward Moya

Mixed session for stocks, Bed Bath & Beyond mania, bitcoin in vacation mode

US stocks traded mixed as investors grappled with relatively strong US economic data that might keep the door open for aggressive Fed tightening for the rest of the year. The economy still looks good as the housing market continues to cool. Initial jobless claims dipped, easing concerns a little bit that the labor market was starting to head in the wrong direction. The Philly Fed Business Outlook was a nice surprise given the disastrous Empire manufacturing survey from the beginning of the we

18-08-2022 13:54 GMT by Edward Moya

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