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
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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
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
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
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
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
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
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 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
There's no such thing as a quiet week in the markets these days and this week has undoubtedly been no different.
The jobs report was always expected to be the highlight but the Bank of England gave it a good run for its money on Thursday, hiking by the most in 27 years while putting out some pretty dire economic forecasts. It would appear we have very little to look forward to for the next couple of years here in the UK.
While I believe other central banks are slowly gravitating toward the econo
05-08-2022 07:01 GMT
by Craig Erlam
Oil prices slump overnight
Although OPEC+ was a damp squib, rising recession fears saw oil prices slump once again overnight after a negative global outlook from the Bank of England policy meeting. Both Brent crude and WTI have now comprehensively broken lower through their 200 DMA’s, a negative technical development.
05-08-2022 04:24 GMT
by Jeffrey Halley
Asian markets rise as Pelosi crisis eases
The further from Asia Nancy Pelosi goes, the more supportive of local equities it becomes, it seems, as Asian markets draw a collective sigh of relief and climb into the green today. China’s military exercises around Taiwan seem to be getting the “one and done” treatment.
05-08-2022 04:06 GMT
by Jeffrey Halley
The day is finally here and today is my last markets note for OANDA. Like Elvis, I will be leaving the building, and it seemed appropriate that today’s title image is of me in my Elvis Presly jumpsuit.
05-08-2022 03:49 GMT
by Jeffrey Halley
OANDA Senior Market Analyst Craig Erlam discusses the moves in GBPUSD in the aftermath of the Bank of England's recession warning.
04-08-2022 14:17 GMT
by Craig Erlam
The Australian dollar is slightly higher today. AUD/USD is trading at 0.6936, up 0.22% on the day.
The RBA will be in focus for the second time this week, with the release of the RBA Monetary Statement on Friday.
04-08-2022 11:55 GMT
by Kenneth Fisher
Oil
The oil market is a mixed bag as demand destruction is met with limited spare capacity. Ongoing weakness should be unlikely since the oil market remains tight, but the break of the key technical USD 90 level could unleash some momentum selling.
04-08-2022 11:11 GMT
by Edward Moya
Stocks continue to ignore the deepest yield curve inversion since the early 2000s. The S&P 500 index has rebounded over 13% from the June lows as many on Wall Street anticipate that the Fed will stop quantitative tightening next year and begin cutting interest rates. If the next couple of inflation and nonfarm payroll reports support the Fed pivot argument, we might stop hearing these bear market calls.
Equities might struggle to keep the rally going as investors continue to see economic
04-08-2022 11:06 GMT
by Edward Moya
The euro is showing little movement for a second straight day. In the North American session, EUR/USD is trading at 1.0187, up 0.14% on the day.
With a light economic calendar today in both the US and Europe, the euro is likely to continue to have a quiet day.
04-08-2022 09:55 GMT
by Kenneth Fisher
USD/JPY continues to gain ground and has pushed across the 134 line. In the European session, the pair is trading at 134.12, up 0.20%.
The week started off nicely for the Japanese yen, which took advantage of broad weakness in the US dollar.
04-08-2022 07:10 GMT
by Kenneth Fisher
We're seeing a little more positivity in the markets after another lively week and there's still plenty to come as we get closer to the weekend.
Fed officials have been out in force again; this time with a focus on market expectations of a swift reversal from rate hikes to cuts early next year. Both Mary Daly and Neel Kashkari were very clear that it's unreasonable to expect such a policy u-turn given the inflation environment, with Kashkari even saying he's not sure what markets are looking at
04-08-2022 05:39 GMT
by Craig Erlam