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Asian equity markets are slightly softer after Walmart results US markets had a mixed session overnight, with the S&P 500 and Dow Jones booking small gains while the Nasdaq fell. Overall, the picture was of continued range-trading, and investors positioning themselves for the earnings run this week, as well as the FOMC.

26-07-2022 04:21 GMT by Jeffrey Halley

Oil rises on Nord Stream, gold drifting

Russia lifts oil prices Russia has further reduced gas flows to Germany overnight, which is threatening to unwind oil’s move lower on Nord Stream 1 reopening. As that reality set in, Brent crude rose 1.20% to USD 104.85, and WTI gained 1.30% to USD 96.25 a barrel.

26-07-2022 04:16 GMT by Jeffrey Halley

Currency markets range-trade overnight

Will US dollar resume downward correction? Currency markets range-traded overnight, with very little to show in either the G-10, Asia FX, or EM space. The technical picture on the dollar index, however, is testing the bottom of its rising wedge, and it is shouting that the US dollar correction lower still has legs.

26-07-2022 04:01 GMT by Jeffrey Halley

The waiting game

Markets eye earnings, FOMC meeting As expected, markets were quiet overnight ahead of a deluge of tier-1 earnings, data, and the US FOMC policy decision over the rest of the week. Equity, currency, oil, and precious metals markets were content to range trade, with only bitcoin showing some life, falling by nearly 6.0%.

26-07-2022 03:29 GMT by Jeffrey Halley

Oil finds support, gold looks vulnerable

Oil After a rough few weeks, crude prices are showing signs of stabilization around the mid-USD 90s as the oil market still remains tight despite another wave of weakening economic data in the US and Europe. This week is all about geopolitics and the Fed for oil prices and that means, oil might struggle to make fresh lows. Global recession calls were supported by economic data from Germany that showed business confidence plunged to the lowest levels since early in the pandemic and after a wrat

25-07-2022 14:15 GMT by Edward Moya

Operation Hike to a hopefully a mild recession, Nord Stream flows to drop, cryptos drop

US stocks traded mixed ahead of both a pivotal week for corporate earnings and a Fed policy decision that will confirm its aggressive inflation-fighting stance. Investors won’t want to touch Nasdaq stocks until we hear from Alphabet tomorrow and if they don’t like what they hear they may wait to see Thursday’s massive results from Apple and Amazon provide any reasons to be optimistic with tech stocks.

25-07-2022 14:10 GMT by Edward Moya

Canadian dollar higher after solid retail sales

The Canadian dollar has started the week with gains. USD/CAD is trading at 1.2852 in the North American session, down 0.54% on the day. Canada's retail sales sparkle Canada released June retail sales on Friday, and the data was stronger than expected.

25-07-2022 10:35 GMT by Kenneth Fisher

EUR/USD shrugs as German confidence slips

The euro is in positive territory at the start of the week. In the North American session, EUR/USD is trading at 1.0245, up 0.30%. German business confidence sinks The US dollar lost some of its lustre last week and the euro took advantage.

25-07-2022 09:41 GMT by Kenneth Fisher

Oil stays below USD 100, gold recovers

Oil holds below USD 100 ahead of the Fed I'm sure oil traders have their sights set on many of the same events this week, as they try to better grasp the economic threat facing the US and other countries around the world. A recession is the primary downside risk for crude prices and it's all that's keeping them below USD 100 in the short term. A faster path of Fed tightening and disappointing earnings reports from the US this week could trigger further weakness in the oil market although I am sc

25-07-2022 08:59 GMT by Craig Erlam

Fed and earnings bring cautious optimism

A quiet start to what will otherwise be a lively week in financial markets with particular focus on the US as the Fed meets Wednesday and big tech report earnings. Stock markets are modestly in the green, with a fair amount of straw clutching at play once more. Earnings not being as bad as feared, the Fed only hiking by 75 basis points and China putting together a plan in the hope of averting the next wave of the property crisis is among the reasons being given for stock markets rising.

25-07-2022 08:56 GMT by Craig Erlam

Yen rebounds on lower US yields

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

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