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The yen is lower at the start of the week. USD/JPY is trading at 136.53, up 0.34%. For a change, the yen enjoyed a winning week against the dollar, the first in two months.

25-07-2022 07:51 GMT by Kenneth Fisher

Oil dips lower, gold tries to solidify

Oil prices ease in Asia Brent crude and WTI had another choppy intra-day session on Friday, but like currency markets, closed almost unchanged as the dust settled on the day. Futures markets remain deeply in backwardation, suggesting that in the real world, prompt supplies are as tight as ever, however rising recession fears globally do suggest that gains are likely to be limited in the shorter-term, geopolitics aside.

25-07-2022 06:50 GMT by Jeffrey Halley

US dollar moves higher in Asia

US dollar edges higher The US dollar has moved slightly higher in Asia today versus both the DM and Asia FX space, most likely due to the Russian attack on Odessa over the weekend. Friday saw a noisy session, with large intra-day trading ranges versus the major currencies.

25-07-2022 06:37 GMT by Jeffrey Halley

OANDA Market Insights Podcast (Episode 356)

Senior Market Analyst Jeffrey Halley talks about news impacting the market and the week ahead. In this week's action-packed episode, all eyes are on Wednesday's US FOMC policy meeting. Where goes US monetary policy goes the world, it could be argued, but a LOT is happening this week ex-FOMC.

25-07-2022 04:38 GMT by Jeffrey Halley

Asian equity markets mostly softer

Asia markets in cautious mode Wall Street unwound some of its gains on Friday, as investors lightened positions ahead of the weekend ahead of heavyweight US earnings this week and recession nerves. The S&P 500 finished 0.93% lower, the Nasdaq slumped by 1.87%, and the Dow Jones eased by 0.43%.

25-07-2022 04:34 GMT by Jeffrey Halley

FOMC week finally

Will FOMC opt for 75bp hike? This month has dragged on and seems to be lasting forever. One reason could be that it is my last full month as a keyboard warrior, toiling as the voice of reason as I try to make sense of the nonsense in the financial markets.

25-07-2022 04:21 GMT by Jeffrey Halley

Market Insights Podcast (Episode 355)

Jonny Hart looks back on the week's business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they talk about the ECB's ending of negative rates, the SARB policy decision, the restart of Nord Stream 1, and what is happening in crypto markets. They also discuss what the week ahead has in store for financial markets.

22-07-2022 13:01 GMT by Edward Moya

Week Ahead - Bring on the Fed

Europe took centre stage last week as leaders waited nervously to see if gas would start flowing through Nord Stream 1 again following scheduled maintenance (it did) and the ECB raised its deposit rate to 0%, ending eight years of negative rates. Next week the focus switches back to the US which has a big interest rate decision of its own and a number of major earnings reports.

22-07-2022 12:22 GMT by Craig Erlam

Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

US stocks are under pressure as recession fears run wild as business activity contracts and the labor market shows signs of weakness. Wall Street is seeing mixed earnings as social media companies are seeing softer advertising revenues, the US consumer is struggling to pay their phone bills, while American Express says their premium customers are more resilient to inflation. The US consumer is quickly weakening and if the job market cools quickly, the market will start to fear a recession coul

22-07-2022 12:18 GMT by Edward Moya

Making sense of it all

European stocks are modestly higher on Friday, with Wall Street looking a little flat ahead of the open. A choppy end to the week pretty much sums up how the rest of it has been, as investors have had to make sense of a wide range of data, earnings, rate decisions and geopolitical developments. And all at a time when there is immense uncertainty around the economic outlook as a result of inflation, Covid and the war in Ukraine. Most central banks have come around to the idea that aggressive tigh

22-07-2022 09:07 GMT by Craig Erlam

Oil prices fall, gold higher as yields drop

Oil slips further amid recession talk Oil prices are heading lower for a third day, with WTI now closer to USD 90 a barrel than USD 100. Perhaps a surprising twist considering the remaining tightness in the market but also a further sign that investors are increasingly coming around to the idea of a recession in the not-too-distant future.

22-07-2022 08:51 GMT by Craig Erlam

Euro unable to hold onto ECB gains

The euro has reversed directions today and fallen below the 1.02 line. In the European session, EUR/USD is trading at 1.0188, down 0.42%. ECB surprises with 50bp hike The markets were glued to the ECB meeting on Thursday, uncertain as to whether the rate lift-off would be a 25bp or 50bp hike.

22-07-2022 08:31 GMT by Kenneth Fisher

Pound edges lower as retail sales fall

The British pound is in negative territory today and has fallen below the 1.2000 line. In the European session, GBP/USD is trading at 1.1956, down 0.23%. Retail sales slide in June A busy economic calendar in the UK has wrapped up, with a host of releases.

22-07-2022 05:48 GMT by Kenneth Fisher

Oil falls, gold vulnerable

Oil prices fall overnight Brent crude and WTI had another session of 5.0% intraday ranges overnight, closing quite a bit lower than their opening levels. Global recession fears and the resumption of Russian gas flows to Europe seem to have been the catalyst, although I am sure that trading volatility recently is reducing liquidity as well, exacerbating movers.

22-07-2022 04:19 GMT by Jeffrey Halley

The end of a messy week

ECB surprise, Nord Stream gas reopens Volatility was the winner overnight, with a multitude of data points and events leaving market price action messier than a teenager's bedroom. The European Central Bank surprised markets by lifting policy rates by 0.50%, ending over a decade of negative interest rates.

22-07-2022 03:48 GMT by Jeffrey Halley

EUR/GBP - Jumps as ECB exits negative rates

OANDA Senior Market Analyst Craig Erlam discusses EURGBP amid the ECB decision to hike more than expected at the beginning of its tightening cycle.

21-07-2022 16:07 GMT by Craig Erlam

Oil drops below USD 100, gold rallies

Oil back below USD 100 Brent and WTI are both trading back below USD 100, something people around the world will be delighted to see as they look on in astonishment when filling their cars. Whether that can be sustained, I'm not sure.

21-07-2022 11:48 GMT by Craig Erlam

A busy day for central banks

A plethora of central bank meetings and the scheduled maintenance completion of Nord Stream 1 have guaranteed another frantic session in financial markets on Thursday. Where do we begin on a day like today? The resumption of gas flows through Nord Stream 1 at levels seen before the maintenance work began has come as a huge relief to European countries unable to easily cope without it.

21-07-2022 11:44 GMT by Craig Erlam

Oil weaker on demand outlook, gold steadies

Oil Crude prices are tumbling as energy traders reassess the short-term demand outlook given the disappointing summer driving season and as the US economy starts to show further signs it is quickly weakening. This morning’s data did not do any favors for crude after jobless claims data hit an eight-month high and the Philly Fed index showed a massive slowdown. The oil market is starting to see more supplies from Libya and with the pace of weakening global economic data suggesting, we might not n

21-07-2022 11:27 GMT by Edward Moya

Stocks chop, ECB abandons negative rates, bitcoin says, “Et tu, Musk?”

Wall Street is struggling to find reasons to be optimistic as investors digest a wrath of mixed corporate earnings, Russia resumes Nord Stream 1 gas flows, and the ECB acts aggressively with its first rate hike in 11 years. The earnings standout was Tesla, which posted strong earnings and kept its production forecast.

21-07-2022 11:22 GMT by Edward Moya

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