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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

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

Tech stocks lower after Micron's warning, NFIB all about inflation, Housing Market cools, Oil pops,Bitcoin stuck in range

US stocks edged lower after a round of economic data reminded Wall Street that stagflation is here. Stocks won’t be able to do much as summer trading volumes are here and ahead of a pivotal inflation report. Tech stocks continue to weaken after another semiconductor maker delivered a revenue warning.

09-08-2022 15:04 GMT by Edward Moya

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

Pound edges higher, markets eye US inflation

The British pound has posted slight gains today. GBP/USD is trading in the European session at 1.2106, up 0.21% on the day. The economic calendar has been light so far this week.

09-08-2022 07:43 GMT by Kenneth Fisher

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

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

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

US Close - Stock rally faded, Nvidia's warning, Oil rebounds, Gold above $1800, and Bitcoin eyes breakout

With persistent inflation and a strong labor market, the Fed is on a clear path to raise rates. This week is all about inflation and many traders are expecting to see the inflation to decelerate.

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

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

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

Australian dollar roars higher

The Australian dollar continues to exhibit sharp volatility. AUD/USD declined by 0.82% on Friday but has bounced back today and soared 1.15%.

08-08-2022 10:32 GMT by Kenneth Fisher

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

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

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

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

Market Insights Podcast (Episode 361)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the US jobs report, BoE decision and forecasts, and the week ahead.

05-08-2022 12:37 GMT by Craig Erlam

Week Ahead - Fear returns ahead of inflation data

Can the Fed afford to ease off the brake? The end of last week was a bit of a reality check for investors that were maybe getting a little carried away with the supposed "dovish pivot" from the Fed and turning a blind eye to the data and what central bank policymakers were saying. Perhaps the experience of the last 12 months can explain the latter but there's no ignoring the data that we saw on Friday. The US economy is certainly not behaving like it's in a recession; rather the labour mar

05-08-2022 12:10 GMT by Craig Erlam

GBP/USD slides as Nonfarm Payrolls surges

The British pound is falling sharply in the North American session, after a massively strong US nonfarm payment release. GBP/USD is trading at 1.2040, down 0.98% on the day. US Nonfarm Payrolls smashes higher It wasn't so long ago that US nonfarm payrolls was one of the most anticipated events on the economic calendar and often had a significant impact on the movement of the US dollar.

05-08-2022 08:50 GMT by Kenneth Fisher

Oil dips under USD 90, gold awaits NFP

Oil slips below USD 90 as recession fears mount Oil prices are marginally higher on Friday after spending most of the week on the decline. It hasn't been the most bullish week of headlines for crude, whether that be all of the recession chat (most notably from the UK), the new OPEC+ deal or the EIA inventory build.

05-08-2022 07:06 GMT by Craig Erlam

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