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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

Japanese yen drifting at 135

The Japanese yen has steadied on Monday, trading just above the symbolic 135 level. Is 140 next for the yen? The BoJ didn't change its playbook at Friday's meeting, and what is usually a dull affair had a huge impact on the yen, as USD/JPY surged over 2%. The central bank reiterated its commitment to an ultra-accommodative policy, despite pressure on the yen, which is wallowing close to 24-year lows against the US dollar.

20-06-2022 10:10 GMT by Kenneth Fisher

Pound steady after rough week

The British pound is slightly higher at the start of the week, and I expect a quiet session, with US markets closed for a holiday. British pound under pressure There was plenty of volatility from GBP/USD last week, as the currency started the week with gains, only to reverse directions and end the week in the red, the third losing week in a row. Perhaps the biggest red flag from the pound's slide was the break below the symbolic 1.20 level last week, for the first time since 2020.

20-06-2022 07:40 GMT by Kenneth Fisher

Oil slides, gold range-trades

Oil slumps on recession fears Oil prices plummeted on Friday as increasing recession fears after soft US Manufacturing and Industrial Production data saw a mess sell-off in futures markets. Brent crude fell by 5.0% to USD 113.15 a barrel, but WTI plummeted by 6.0% to USD 110.00 a barrel.

20-06-2022 05:18 GMT by Jeffrey Halley

US dollar remains firm but choppy

Dollar in choppy waters The US dollar held onto its intraday gains on Friday, as US bond inflows seemed to support it as investors preferred safety over risk into the weekend and today's US holiday. With the weekend being relatively uneventful, the US dollar has eased in Asia, but overall continues a pattern of choppy range trading.

20-06-2022 05:13 GMT by Jeffrey Halley

Asian equities start the week lower

Recession fears weighing on markets Asian markets are off to a weak start as the recessionary fears sweeping the US on Friday, continue to weigh on sentiment in Asia. For once Asian markets are not moving in lockstep with the US ones, and I put that down to the distortions of options expiries on Wall Street on Friday.

20-06-2022 05:00 GMT by Jeffrey Halley

The “R” word

Recession fears are escalating The “R” word is being used more and more as recessionary winds start blowing more loudly through economic data and the price actions across the asset class spectrum. On Friday, US manufacturing and industrial production data were soft.

20-06-2022 04:40 GMT by Jeffrey Halley

Market Insights Podcast (Episode 343)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. It's another blockbuster episode today as we range far and wide across the global economy and financial markets. US markets are closed today but Asian equities, ex-China, are having a tough day at the office despite a steady US Close on Friday.

20-06-2022 04:01 GMT by Jeffrey Halley

Market Insights Podcast (Episode 342)

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 discuss the carnage on Wall Street, while recapping the Fed, SNB, BOJ, ECB, and BOE meetings and discuss the crypto markets. They also discuss what the week ahead has in store for financial markets.

17-06-2022 13:54 GMT by Edward Moya

US Close - A brutal week on Wall Street ends on a positive note, Fed reiterates commitment to restoring price stability, Oil plummets on outlook, Gold lower on strong USD, Bitcoin's danger zone

The stock market selloff may have been overdone and exaggerated given this quarter’s ‘triple witching’ event. The expiration of stock futures and options may have accelerated the selling pressure leading up to today. It has been a painful week on Wall Street as inflation has forced many central banks to become more aggressive with outlining their monetary tightening plans that will lead to significant slowdowns for their respective economies.

17-06-2022 13:35 GMT by Edward Moya

Week Ahead - Acceptance

Heading for a recession? This past week felt like a big moment for central banks and financial markets. It was the moment when the majority accepted that inflation isn't just a problem, it's one that needs to be dealt with powerfully in order to prevent it from spiralling out of control and becoming ingrained in the economy.

17-06-2022 12:21 GMT by Craig Erlam

Oil steady around US 120, gold under pressure

Oil steady as European gas prices surge Oil prices are relatively steady at the end of the week, just shy of USD 120. Despite the correction over the last week or so, the market remains extremely tight and the price risks still remain tilted to the upside.

17-06-2022 09:32 GMT by Craig Erlam

A week to remember

I think we've all earned a weekend break in the sun after a quite extraordinary week in the markets that saw plenty of central bank action, even from those not scheduled to meet. Stock markets are ending the week on a positive note, not that anyone is getting carried away with today's price action after turbulent trading conditions in recent days. Triple witching may also be a factor in today's moves which is another reason not to get excited. Recessions are increasingly likely as central banks

17-06-2022 09:28 GMT by Craig Erlam

British pound pares post-BoE gains

Pound jumps after BoE rate hike The pound had a wild day on Thursday, trading in a 350-point range. Sterling traded in a 300-point range overnight, with markets not quite sure to make of the BoE's 0.25% rate increase.

17-06-2022 07:21 GMT by Kenneth Fisher

Yen falls back down after BoJ balks

The Japanese yen continues to post strong swings this week and is up sharply on Friday. USD/JPY is trading at 134.67 in Europe, up 1.86% on the day. BoJ maintains yield curve control It's been a busy week, with the markets still digesting some dramatic moves by central banks.

17-06-2022 05:50 GMT by Kenneth Fisher

Oil trading sideways, gold range-trading

Oil trades sideways Oil, once again, endured big ranges overnight, only to finish not far from where it opened. Once again, Brent crude and WTI saw some heavy selling intraday as markets tried to price in a plethora of central bank hikes and potential recessions.

17-06-2022 04:40 GMT by Jeffrey Halley

Central bank tightening sends US dollar lower

US dollar retreats as central banks hike The US dollar fell overnight as traders turned short of USD/JPY ahead of the BOJ meeting, and central banks in the UK and Switzerland hiked policy rates. A rotation from equities to bonds overnight drove down US yields, further eroding short-term support.

17-06-2022 04:34 GMT by Jeffrey Halley

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