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The Canadian dollar started the week with gains, but has reversed directions on Wednesday. USD/CAD is trading at 1.2978, up 0.47% on the day. CPI expected to hit 7.4% Canada releases the May inflation report later today, and the markets are bracing for another rise.

22-06-2022 06:26 GMT by Kenneth Fisher

Oil pares gains, gold range trades

Oil prices slump in Asia Oil prices probed the topside intraday overnight but gave back those gains with Brent crude almost unchanged at USD 114.60 a barrel, and WTI edging 0.55% lower to USD 109.65 a barrel. In Asia, both contracts have slumped, with WTI notably, falling through longer-term support.

22-06-2022 04:57 GMT by Jeffrey Halley

Currency markets continue sideway trading

US dollar steady ahead of Powell testimony With the notable exception of the Japanese yen once again, currency markets refused to buy into the snake oil promises of the equity markets. The US dollar did push lower intraday across the board but recovered as US yields held firm.

22-06-2022 04:40 GMT by Jeffrey Halley

Asia markets drop ahead of Powell testimony

Asian equities ignore the overnight Wall Street rally Wall Street rallied broadly overnight, with the three main indexes having banner days as the call of buy-the-dip proved irresistible after a weekend in the Hamptons. The S&P 500 rallied by 2.45%, the Nasdaq leapt 2.51% higher, and the Dow Jones booked a healthy 2.19% gain.

22-06-2022 04:30 GMT by Jeffrey Halley

Gone in 60 seconds

Gone in 60 Seconds was a movie released in 2000 starring Nicholas Cage who is charged with stealing 50 high-end cars in three days. It is actually a remake of my preferred 1974 version, where the “hero” is set a much more reasonable target of stealing 48 cars in five days, but I guess that is productivity progress for you.

22-06-2022 04:21 GMT by Jeffrey Halley

Oil rebounds, gold struggles

Oil rallies on tight supplies Oil prices are rallying as last week’s selloff was overdone given how the short-term crude demand outlook remains for the US and China. The oil market remains too tight over the short-term and rising expectations over tougher sanctions with Russian crude should keep demand especially strong here. Energy traders saw oil prices slide almost 15% in just a week, despite a very tight market. The paid-for crude prices wasn’t justified and more of a reflection of the r

21-06-2022 14:06 GMT by Edward Moya

Blockchain of broken dreams, stocks bounce back, data shows slowing growth and not a collapse

Blockchain of Broken Dreams Crypto traders have been walking a lonely road that no one knows how low it will go. Wall Street has been closely checking the vital signs of the cryptoverse and the good news is that it is still alive. Bitcoin’s shadow is not the only thing rallying today as US stocks bounce back after a disastrous trading week sent it to bear market territory. For the longest time, it seems bitcoin hodlers were walking on the boulevard of broken dreams.

21-06-2022 14:02 GMT by Edward Moya

Bitcoin - Sinking fast

OANDA Senior Market Analyst Craig Erlam talks about bitcoin which has continued to plunge in a tough environment.

21-06-2022 11:52 GMT by Craig Erlam

British pound calm ahead of inflation

The pound is having a quiet week, after some sharp swings last week. Monday was a holiday in the US, and it was a quiet session for the US dollar.

21-06-2022 10:12 GMT by Kenneth Fisher

Oil prices recover, gold stuck in range

Oil risks remain tilted to the upside Oil prices are around 1% higher, continuing to recover from Friday's sharp sell-off. The oil market remains extremely tight but it seems the rising threat of recession created a compelling argument for it to correct lower last week.

21-06-2022 09:22 GMT by Craig Erlam

Plenty of action to come

European stocks are making small gains again on Tuesday, benefiting from the relatively calm start to the week. The US returns following the bank holiday weekend which could see activity pick up, with particular focus on what the various central bankers have to say. Jerome Powell's testimony in Congress on Wednesday and Thursday will naturally be the highlight but in this rapidly changing environment, all views will have the potential to get things moving. There's no doubt that the next few days

21-06-2022 09:14 GMT by Craig Erlam

Japanese yen punches past 136

After a quiet start to the week, the US dollar is again rallying against the hapless Japanese yen. USD/JPY is currently trading at 136.18, up 0.78% on the day.

21-06-2022 08:05 GMT by Kenneth Fisher

RBA's Lowe signals 50-bps hike

It continues to be a quiet week for the Australian dollar, in sharp contrast to last week's roller-coaster ride. AUD/USD has edged higher today, as the market response to the RBA minutes and a speech from Governor Lowe has been muted. RBA minutes, Lowe offer few clues Anyone looking for some guidance from the RBA minutes came away disappointed, as the gist of the minutes was a defence of the surprise move to raise interest rates by 50bps at the meeting.

21-06-2022 06:53 GMT by Kenneth Fisher

Oil moves higher, gold range-trades

Oil prices start reversing the Friday slump As I outlined above, oil futures have started reversing the Friday price slump as speculative capitulation collides with the reality of tight energy markets in the real world. Brent crude held USD 112.00 overnight, finishing 0.92% higher at USD 114.05 a barrel.

21-06-2022 05:25 GMT by Jeffrey Halley

US dollar steady after US holiday

Currency markets trade sideways over the US holiday Not a lot has changed in currency markets overnight despite some decent intraday ranges. The US holiday and a slow news reel ensured that currency traders took the option of easing into the week, awaiting the US return this evening.

21-06-2022 05:12 GMT by Jeffrey Halley

Asian equities move higher

Asian markets regain confidence US futures moved higher in Asia yesterday and continued gaining through European time as a lack of really negative headlines allowed the buy-the-dippers to dip their toes in the market. That also helped European equities sage a decent recovery as well, with markets ignoring the shock result in the French parliamentary elections.

21-06-2022 04:26 GMT by Jeffrey Halley

A quiet day in Asia

With the US on holiday yesterday, activity was muted overnight. Currency, precious metal, and crypto markets traded sideways, while equities used a slow news night to stage a modest recovery, led by European equities.

21-06-2022 04:14 GMT by Jeffrey Halley

Aussie eyes RBA minutes

It was a roller-coaster week for the Australian dollar, with much of the volatility driven by central bank rate moves. AUD/USD ended the week with a huge decline of 1.62% but has started the week in positive territory. Last week's releases indicate that the labour market remains robust and that inflation expectations are accelerating.

20-06-2022 11:35 GMT by Kenneth Fisher

A steady start

European stocks are making steady gains on Monday, recovering a small portion of last week's heavy losses as economic concerns mounted. There has undoubtedly been a shift in the market mindset over the last week and a half that has weighed heavily on risk assets. The prospect of a recession is being considered far more broadly and what's more, central banks are increasingly resisting the urge to push back against it. It seems inflation has gone from being the primary concern to the only one.

20-06-2022 10:48 GMT by Craig Erlam

Bullish outlooks for oil and gold

Oil hit by recession fears, gas prices remain high Oil prices are steady on Monday after tumbling late last week as economic fears took hold. The market remains extremely tight but the threat of recession is one of the few negative forces for crude prices.

20-06-2022 10:46 GMT by Craig Erlam

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