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GBP/USD soars as US inflation falls
The British pound has surged in today's North American session. GBP/USD has jumped a massive 1.20% on the day and is trading at 1.2218. US inflation underperforms The economic calendar is very light on both sides of the pond today, but that didn't matter as today's US inflation report has sent the US dollar on a nasty slide.
10-08-2022 09:19 GMT by Kenneth Fisher
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Yen drifting as US inflation looms
USD/JPY continues to show little movement this week, in sharp contrast to Friday, when the pair jumped a massive 1.55%. In the European session, USD/JPY is trading at 135.02 down 0.09%. The yen had shown some strength against the dollar recently, but took a tumble after the stunning US nonfarm payroll report on Friday.
10-08-2022 07:21 GMT by Kenneth Fisher
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Aussie remains calm ahead of US
The Australian dollar has posted slight gains today. AUD/USD is trading at 0.6974 in the European session, up 0.15%. Will US inflation report shake up currency markets? The economic calendar is light this week, with very few tier-1 events scheduled.
10-08-2022 06:34 GMT by Kenneth Fisher
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Oil falls under $90, gold rises ahead of US CPI
Oil slips amid positive nuclear talks and a surprise inventory build Oil prices are slipping again on Wednesday with WTI dropping back below $90 a barrel amid positive noises coming from the Iran nuclear talks. I don't think we're at the optimistic stage yet as we've seen talks break down before when a deal appears close but it's looking more promising than it has for many months.
10-08-2022 04:58 GMT by Craig Erlam
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Nerves ahead of US inflation
We're seeing plenty of apprehension ahead of the US inflation report on Wednesday, with Asia in the red and Europe following suit. It's impossible to get away from the fact that the inflation report has held the markets back this week. There's clearly a desperate desire to be more optimistic about the outlook; that's evident from the scale of the recovery already seen in equity markets despite there being seemingly little to celebrate. But the jobs report on Friday following on from the Fed comm
10-08-2022 04:51 GMT by Craig Erlam
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Oil pops, gold strong heading into inflation report
Oil Crude prices surged after Russian oil supplies were halted to Eastern Europe. A simple disruption that stemmed from Western sanctions that do not allow accepting transit fees from Moscow reminded us of how quick the oil market can tighten.
09-08-2022 15:07 GMT by Edward Moya
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Euro extends gains
The euro continues to move higher early in the week.  In the North American session, EUR/USD is trading at 1.0240, up 0.47% on the day. The US dollar, which has been on a downward correction recently, flexed some muscles on Friday, after a superb nonfarm payrolls report, and posted broad gains. However, the gains proved to be short-lived, and the euro has now recovered all of Friday's losses. Fed officials were already pushing back against the market's perception that the rate-hike cycle was a
09-08-2022 09:47 GMT by Kenneth Fisher
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Aussie rally takes breather
In the European session, the Australian dollar is trading at 0.6991, up 0.10% on the day. This follows massive gains on Monday, when AUD/USD soared 1.04% and briefly pushed above the symbolic 70 level. The US dollar's recent rally has fizzled, but don't count Uncle Sam out.
09-08-2022 05:59 GMT by Kenneth Fisher
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Oil dips lower, gold eyes US inflation
Oil edges lower as Vienna talks conclude Oil prices are marginally lower on Tuesday after recovering slightly at the start of the week. All of the talk of recession has caught up with crude prices over the summer, forcing a substantial correction that will be welcomed by those looking on in horror as they fill their cars. The question is how sustainable $90 oil is when the market remains very tight and OPEC+ is only willing to make small moves in order to address it.
09-08-2022 04:56 GMT by Craig Erlam
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Lacking direction
Equity markets are lacking any real direction in Asia and that appears to be carrying into the European session as well. Europe is seeing minor losses on the open, offsetting some of the small gains in choppy trade at the start of the week. This follows a similarly choppy session in the US on Monday as the Dow flirted with exiting correction territory and the Nasdaq bear market territory. We may have reached a point in which investors need to decide whether they truly buy into the recovery/no re
09-08-2022 04:50 GMT by Craig Erlam
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Market Insights Podcast (Episode 362)
OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss how the week has started in the markets, Chinese trade data and what to look out for in the coming days.
08-08-2022 15:56 GMT by Craig Erlam
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Euro edges higher despite soft confidence data
The euro has started the week in positive territory. In the North American session, EUR/USD is trading at 1.0217, up 0.36% on the day. The week wrapped up with a superb nonfarm payroll report, which sent the US dollar broadly higher.
08-08-2022 11:49 GMT by Kenneth Fisher
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NZ dollar rebounds on inflation expectations
The New Zealand dollar has started the week with strong gains. In the European session, NZD/USD is trading at 0.6281, up 0.63% on the day. US Nonfarm payrolls send dollar higher The week ended with a bang as US nonfarm payrolls smashed it out of the ballpark.
08-08-2022 07:55 GMT by Kenneth Fisher
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Cautious post-jobs report
A relatively slow start to the week as investors continue to digest Friday's jobs report and what it means for financial markets just as some optimism was returning. The report itself was strong almost across the board, with participation being the only outlier, but Fed officials will not have been quite so enthused which makes it a tough one for investors to get too excited about. On the one hand, it strengthens the argument that the economy is not really experiencing a recession as the labour
08-08-2022 04:36 GMT by Craig Erlam
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Oil ticks higher, gold flat after strong NFP
Iran talks resume as oil makes small gains Oil prices are a little higher today, recovering from the lows on Friday. The jobs report highlighted how strong the economy remains although traders are now increasingly nervous about more aggressive tightening sending the economy into a deeper recession further down the road.
08-08-2022 04:28 GMT by Craig Erlam
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NFP React: What economic slowdown? Jobs Shocker supports Fed 75bp argument for September, Stocks drop, Oil pares weekly losses, Gold rally ends, Bitcoin equity correlation ends
The July nonfarm payroll report delivered a juicy plot twist in the Wall Street’s Fed pivot playbook.  Stubbornly high inflation and a global economic slowdown was expected to drag down the US economy, but after today’s jobs report that does not seem to be the case. Fed officials were already pushing back on the idea of a Fed pivot and now it seems they will be debating whether they need to be even more aggressive to tackle inflation given how strong the labor market is performing.  US stocks pl
05-08-2022 12:50 GMT by Edward Moya
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