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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

Oil rebounds, gold tries to form a range

Oil 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 position to cut production if needed.

18-08-2022 13:38 GMT by Edward Moya

USD/JPY eyes Japanese CPI

It hasn't been a good week for the Japanese yen, as USD/JPY has climbed 1.24%. The yen is almost unchanged today, trading at 135.16. Japan wraps up the week with a key inflation release on Friday.

18-08-2022 11:39 GMT by Kenneth Fisher

British dips below 1.20, retail sales next

The British pound continues to lose ground and has fallen below the 1.20 line for the first time since July 26th. GBP/USD is trading at 1.1996 in the North American session, down 0.47%. Pound eyes UK retail sales It has been a busy economic calendar in the UK this week.

18-08-2022 10:18 GMT by Kenneth Fisher

Market Insights Podcast (Episode 366)

Jonny Hart discusses what is driving markets today with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about the yesterday's US retail sales report, UK inflation and BOE rate hike expectations, Elon Musk's tweet about buying Manchester United, and Ethereum's outperformance to Bitcoin.

18-08-2022 09:14 GMT by Edward Moya

Aussie bounces back after soft jobs report

The Australian dollar edged lower following today's Australian employment report but has reversed directions. In the European session, AUD/USD is trading at 0.6957, up 0.28%. Australian employment report disappoints Australia released the July employment report, and the numbers were surprisingly soft.

18-08-2022 06:10 GMT by Kenneth Fisher

Oil prices steady, gold under pressure

Oil steady after inventory boost Oil prices are treading water following Wednesday's rally which came on the back of the EIA inventory data. The surprising and substantial drawdown alongside record crude exports provided a boost just as the price was testing multi-month lows.

18-08-2022 05:29 GMT by Craig Erlam

Steady after Fed Minutes

The European session is off to a mixed start after both the US and Asia posted small losses overnight. The Fed minutes on Wednesday didn't really offer anything we didn't already know. Even those that leapt at the opportunity to buy the supposed "dovish pivot" are aware that this isn't quite the case and the minutes really back that up.

18-08-2022 05:26 GMT by Craig Erlam

Oil surges post EIA report, gold vulnerable

Oil rises on EIA surplus Crude prices rose after the EIA crude oil report posted a surprisingly large draw. US stockpiles plunged by 7.1 million barrels last week, much more than consensus estimate draw of 100K barrels.

17-08-2022 12:49 GMT by Edward Moya

Stocks drop ahead of Minutes, Retail Sales moderates, Target's optimism for H2, Musk's Manu tweets

US stocks are softening ahead of the Fed’s Minutes as profit taking overtakes another round of upbeat corporate outlooks. Solid outlooks from Target and Lowes did not tell Wall Street anything new, which has returned the focus solely on the Fed’s tightening path.

17-08-2022 12:41 GMT by Edward Moya

Aussie slides below 70

The Australian dollar is taking it on the chin today. In the North American session, AUD/USD is trading at 0.6925, down 1.30% on the day. China's weakness weighing on Aussie The Australian dollar is having a miserable week, down 2.76%.

17-08-2022 09:51 GMT by Kenneth Fisher

New Zealand dollar slides after RBNZ hike

RBNZ delivers another 0.50% hike The New Zealand dollar has taken a tumble today. In the European session, NZD/USD has declined by 0.88% and is trading at 0.6289.

17-08-2022 08:53 GMT by Kenneth Fisher

Pound yawns as UK inflation hits 10.1%

The British pound is almost unchanged today, trading just above the 1.21 level. UK inflation hits double-digits It hasn't been a good week for the UK, with today's inflation report following grim wage growth numbers. Headline inflation in July hit 10.1% YoY, up from 9.4% and above the estimate of 9.8%.

17-08-2022 06:03 GMT by Kenneth Fisher

Oil edges higher, gold flat

Oil rebounds off support as JCPOA talks continue Oil prices are edging higher on Wednesday, bouncing off technical support over the last 24 hours as Chinese Premier Li pushed for more pro-growth measures from local officials. There are growing downside risks as a result of the growth outlook and ongoing uncertainty around Chinese Covid restrictions. What's more, talks between the US and Iran are continuing around the nuclear deal which, if it gets over the line, could be a big positive for oil s

17-08-2022 04:50 GMT by Craig Erlam

Mixed ahead of Fed minutes

A mixed start to trade in Europe after a more promising session in Asia overnight where stocks may have been boosted by talk of more pro-growth policies in China. That followed disappointing data late last week and early this from the world's second-largest economy so the comments came at a good time. Still, we're not seeing investors getting too carried away by comments alone, action needs to follow and small rate cuts from the PBOC don't really fall into that category. More misery for the UK a

17-08-2022 04:46 GMT by Craig Erlam

Maybe it is a bottom, retail earnings impress, crypto rally stalls

If it looks like a bottom, acts like a bottom, and trades like a bottom, then it probably is a bottom. Bear market rally calls are suddenly becoming quiet these days.

16-08-2022 13:30 GMT by Edward Moya

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