All Articles

Oil tumbles on recession nerves, gold slides

Oil plummets overnight on recession fears Recession fears saw oil markets plummet overnight, with both Brent crude and WTI taking out their 2022 rising support lines in no uncertain terms. Brent crude slumped by 7.90% to USD 104.75, having tested USD 101.00 a barrel intraday.

06-07-2022 04:38 GMT by Jeffrey Halley

US dollar soars on haven demand

US dollar broadly higher as risk sentiment fizzles The US dollar soared versus both developed and emerging market currencies overnight, as recession fears saw a spike in haven demand for US dollars. Quite a bit of that looks to have been recycled into US bond markets as well, adding to the recessionary downward pressure on yields.

06-07-2022 04:29 GMT by Jeffrey Halley

Asian down on recession, Covid fears

Asian equities slump on China lockdown fears US equities endured a torrid session overnight, dropping initially, but then rallying hard as US yields fell across the curve. With markets racing to price in a US recession, the US equity performance was somewhat counterintuitive with the rate-sensitive Nasdaq outperforming.

06-07-2022 04:18 GMT by Jeffrey Halley

Recession meltdown

Recession fears buffeted markets overnight, with the price action across various asset classes looking like a self-sustaining negative feedback loop, triggering more stop losses as prices slumped and dragging in trend-following momentum-hunting fast money. European equities, euro take a tumble Europe endured a torrid day as the Norwegian oil worker strike proved the last straw for an energy-starved Europe. European equities plummeted and rightly so, as Europe's energy-from-Russia Achilles heel w

06-07-2022 04:07 GMT by Jeffrey Halley

Pound dives below 1.19 as dollar soars

The British pound has taken a nasty tumble today, falling 1.63%. In the North American session, GBP/USD is trading just above the 1.1900 line. Bailey warns about economic outlook The US dollar is having its way with all of the major currencies today, with the exception of the Japanese yen.

05-07-2022 12:26 GMT by Kenneth Fisher

Euro tumbles to 20-year low

Euro slides below 1.03 The euro enjoyed a quiet Monday, as the currency markets were calm with US markets closed for a holiday. The euro started the Tuesday session without incident, but the roof fell in late in the Asian session.

05-07-2022 11:07 GMT by Kenneth Fisher

Aussie slammed after RBA hike

The Australian dollar is sharply lower on Tuesday. In the European session, AUD/USD is trading at 0.6796, down 1.0% on the day. RBA hikes by 0.50%, Aussie plunges The RBA delivered a 0.50% rate hike for a second straight month, bringing the cash rate to 1.35%.

05-07-2022 06:22 GMT by Kenneth Fisher

Asian equities China tariff rally fades

China's Covid flare-up weighs on Asian markets US OTC equity markets were closed overnight for the July 4th holiday, but US futures posted consistent gains as markets pinned their hopes on a reduction of US tariffs on Chinese goods this week. S&P 500 futures are 0.40% higher, Nasdaq futures have rallied by 0.85%, and Dow futures have gained 0.55%. That theme saw Asian markets open higher this morning, but that rally seems to have faded as the session marched on.

05-07-2022 05:32 GMT by Jeffrey Halley

Oil stable, gold vulnerable

Oil is steady in Asia Oil price continued their recovery from Thursday’s recession-fear sell-off as the supply-demand balance in the real world continues to underpin prices in the futures market. Brent crude rose by 2.15% overnight, easing 0.35% to USD 113.40 a barrel in subdued Asian trading.

05-07-2022 05:27 GMT by Jeffrey Halley

US dollar remains firm

US dollar steady after July 4th holiday A US holiday overnight torpedoed volatility in currency markets, but overall, the US dollar continues to maintain its gains versus the DM and EM currency space, despite insipient bullish sentiment in other asset classes and falling US yields. It seems that while markets tie themselves in knots in other asset classes, the US dollar remains the favoured seat to watch the fun and games from in the stadium.

05-07-2022 05:16 GMT by Jeffrey Halley

Knot-tying masterclass continues

One of the more pleasing aspects of being aboard a slow boat into the rainforests of Borneo these past few days was the complete loss of mobile telephony signals. The temptation to look at emails, chats, social media, or news from the markets was compulsorily removed, thanks to the national park being bigger than all of Bali. I certainly haven’t missed much in my short absence.

05-07-2022 04:22 GMT by Jeffrey Halley

Euro calm in thin holiday trade

The euro is trading quietly in European trade at 1.0433. With US markets closed for the Fourth of July holiday, we can expect a quiet session today. US markets are closed today, putting the focus on eurozone data, which was a mixed bag.

04-07-2022 10:36 GMT by Kenneth Fisher

Will RBA hike boost the Aussie?

We are seeing plenty of volatility from the Australian dollar. AUD/USD is trading at 0.6883 in European trade, up 0.98% on the day. The Australian dollar has recovered most of its losses from Friday, when the pair slipped 1.28%. RBA set to hike, but by how much? All eyes are on the RBA, which holds its monthly policy meeting on Tuesday.

04-07-2022 08:23 GMT by Kenneth Fisher

Yen steady in holiday-thin trading

The currency markets will be in quiet mode today, as US markets are closed for the Fourth of July holiday. The yen hasn't shown much movement over the past week, although USD/JPY hit another 24-year high last week when it climbed to the 137.00 line. In the US, there are no tier-1 releases until Wednesday, with the release of the FOMC minutes.

04-07-2022 04:50 GMT by Kenneth Fisher

Market Insights Podcast (Episode 348)

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 why the S&P 500 had the worst first half performance since 1970, the key drivers for the oil market, and the house of pain that crypto markets are stuck in. They also discuss what the week ahead has in store for financial markets.

01-07-2022 15:11 GMT by Edward Moya

US Close - ISM hits 2-year low, Au Revoir 3.00% on recession worries, Choppy waters for Stocks, Commodity Markets tired of softening, Bitcoin tests $18K waters

US stocks can’t muster up a meaningful rally heading into the long weekend as recession worries grow after the ISM manufacturing report fell to a two-year low. Wall Street isn’t liking seeing so many key economic indicators have a trajectory that looks like they will retest some of the pandemic lows. A choppy period seems likely until investors feel confident that the economy is still in decent shape and that the Fed won’t miss the opportunity to decelerate their tightening pace in September.

01-07-2022 14:51 GMT by Edward Moya

Week Ahead - Peak Fed Tightening?

The focus has shifted in recent weeks from how far central banks are going to go in their tightening cycles to how much of an economic slowdown we are facing and if a recession is still avoidable.

01-07-2022 12:47 GMT by Craig Erlam

Euro slides as inflation jumps

The euro is sharply lower on Friday and is currently trading just above the 1.04 line, down 0.76%. Eurozone inflation outperforms Eurozone CPI for June was higher than expected, at 8.6% YoY. The estimate stood at 8.4% and inflation rose sharply from the May reading of 8.1%.

01-07-2022 10:02 GMT by Kenneth Fisher

A data-heavy end to the week

We're seeing choppy trading as we head into the weekend amid a flurry of economic data from across Europe. Things got underway with a plethora of PMI readings, although most were revised figures that aren't typically subject to large revisions meaning the market impact is relatively minimal. The euro area inflation data was always going to be this morning's headliner and considering the market reaction, it's been taken quite well. On the face of it, it looks like a mixed bag with the headline nu

01-07-2022 09:14 GMT by Craig Erlam

Oil edges higher, gold falls

Oil higher amid supply outages Oil prices are edging higher again on Friday after paring gains over the last couple of days. With OPEC+ opting to raise production by 648,000 again in August but not comment beyond then, there is a cloud of uncertainty over the supply side again.

01-07-2022 09:07 GMT by Craig Erlam

All news & analysis