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Dollar eyes FOMC rate decision Currency markets had a choppy but ultimately range trading session overnight, as higher US yields once again supported the US dollar modestly, while pre-FOMC caution limited its gains. The Asian session is being marked by similar price action, the US dollar easing today as investors lighten their exposure.

15-06-2022 05:47 GMT by Jeffrey Halley

Noisy pre-FOMC consolidation

The sell-everything trade has mostly paused for breath over the last 24 hours, with US equities finding their feet overnight, Asian equities rallying today, and the US dollar giving back some of its recent gains. Bond markets remain the exception.

15-06-2022 04:19 GMT by Jeffrey Halley

Morning rebound faded as PPI remains elevated, Oracle impresses, MicroStrategy all-in on bitcoin, bitcoin holding above USD20k

Wall Street was quick to fade the morning rebound that stemmed a modest improvement with producer prices, possibly providing some hope that core inflation continues to ease for businesses. Wholesale prices are still climbing higher and while they are slightly off the record annual pace, this report does not change anything for the Fed. Aggressive tightening over the next handful of policy meetings is the only course of action for the Fed. PPI PPI rose 0.8% for the month and 10.8% over the pas

14-06-2022 13:20 GMT by Edward Moya

Oil market remains tight, gold lower ahead of Fed

Oil gains on tight supplies, China concerns Crude prices rallied as energy traders focus on the supply-demand imbalance that shows no signs of easing and shrugs off China COVID concerns and the early signs of crude demand destruction in the US. Gasoline prices are above five dollars a gallon nationally and no relief is expected anytime soon. Refiners need to get diesel inventories higher otherwise we could see some shortages in the near future. President Biden will visit Saudi Arabia in the m

14-06-2022 13:16 GMT by Edward Moya

New Zealand dollar sliding, GDP next

NZD/USD has extended its losses today. In the North American session, NZD/USD is trading at 0.6222, down 0.59% on the day. The New Zealand dollar continues to fall, and fast.

14-06-2022 10:26 GMT by Kenneth Fisher

Anxiety heightened ahead of the Fed

European stocks are tumbling again on Tuesday, while US futures are marginally higher ahead of the open after a terrible start to the week. Markets await FOMC meeting The mood has turned very negative since the latter half of last week, with the ECB initially leaving investors in a haze and the US inflation data on Friday delivering the knockout blow. While Wall Street is eyeing a marginally higher open, I'm far from convinced it can maintain that ahead of the Fed decision tomorrow. Expectations

14-06-2022 09:51 GMT by Craig Erlam

Yen steady ahead of FOMC meeting

The Japanese yen continues to drift this week. In the European session, USD/JPY is trading at 134.30, down 0.09% on the day. All eyes on the Federal Reserve The Federal Reserve holds its policy meeting on Wednesday.

14-06-2022 07:40 GMT by Kenneth Fisher

Aussie stabilizes after nasty tumble

It has been a rough spell for the Australian dollar, which has steadied after a four-day slide. This downswing saw AUD/USD plunge over 300 points and break below the symbolic 70 level. Market nerves weigh on the Australian dollar Ahead of Wednesday's FOMC rate meeting, risk sentiment is nowhere to be found.

14-06-2022 05:53 GMT by Kenneth Fisher

Oil steady, gold slides

The supply-side squeeze keeps oil prices elevated Oil prices remained almost unchanged overnight, with Brent crude finishing at USD 122.10, and WTI closing at USD 121.10 a barrel. The continuing squeeze on refined products globally, as well as a lack of investment to bring online more supplies from OPEC members, or other sources, means lost Russian production is nowhere near being covered by global markets.

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

Risk aversion boosts US dollar

Higher yields, safety first, sends US dollar higher The dollar index soared overnight, driven by risk aversion, higher yields and ramped-up hiking expectations from the FOMC this week. The dollar index finished 0.97% higher at 105.20, easing slightly in Asia to 105.10.

14-06-2022 03:56 GMT by Jeffrey Halley

Asian equities fall once again

Markets nerves ahead of FOMC meeting Overnight, panic around rate hike expectations by the Fed increased and US bond yields rose aggressively across the curve. Recessionary fears increased and in the self-fulfilling negative feedback loop created, US equities were once again crushed.

14-06-2022 03:12 GMT by Jeffrey Halley

The bears come out to play

Equity markets jittery, US dollar soars Things didn’t improve from Friday overnight in New York, as the market scrambled to price in a 0.75% by the FOMC, whose two-day meeting starts today. Among the biggest casualties were the bond market, where yields soared, and the 2/10-year tenor spent part of the day inverted.

14-06-2022 02:59 GMT by Jeffrey Halley

US Close: Panic ahead of the Fed, S&P 500 back in Bear Market, King Dollar, Oil market to remain very tight, Gold weakens, Crypto crash

US stocks only had one way to go after inflation fears intensified and raised the risk of stronger tightening by the Fed and a much sooner recession. Wall Street is facing a plethora of negative headlines, but the problem is that until we see a deterioration with credit conditions and market functioning, the Fed has the greenlight to tighten as much as possible to get inflation under control. An ugly inflation report is being followed by a ‘ferocious’ COVID outbreak in Beijing that will weigh

13-06-2022 16:40 GMT by Edward Moya

Aussie sinks as risk sentiment slides

The Australian dollar has started the week with sharp losses. AUD/USD is trading at 0.6933, down 1.55% on the day. US recession fears send Australian dollar tumbling The week ended with a disappointing US inflation report.

13-06-2022 11:38 GMT by Kenneth Fisher

Action-packed start

We're only a few hours into trading on Monday and already it's been action-packed across the board, setting us up for another blockbuster week. We'll start with equity markets which are in freefall as the reality of high inflation, even faster monetary tightening and a cost-of-living crisis really kick in. Investors spent the last couple of weeks of May asking themselves whether the worst is priced in and they very much now have their answer. We all sensed the change in tone from ECB President L

13-06-2022 11:20 GMT by Craig Erlam

Oil edges lower, gold sinks

Oil pares gains amid Covid restrictions and economic fears Oil prices are a little lower again on Monday after a remarkable run over the last month that saw crude rally more than 20%. While many factors remain bullish as a result of the extreme tightness in the market, there are two things that have constantly been a potential downside risk and we're seeing both flaring up. Covid cases in China mean more restrictions and lockdown risk, while global economic fears are now mounting and we're now n

13-06-2022 11:14 GMT by Craig Erlam

Pound closing in on 2-year low

The British pound is down sharply at the start of the week, as US inflation and weak UK numbers are weighing on the pound. In the European session, GBP/USD is trading at 1.2174 down 1.16% on the day.

13-06-2022 07:40 GMT by Kenneth Fisher

Oil dips after US inflation, gold rises

Recession fears push oil lower Oil prices edged lower on Friday as US inflation eroded hopes of a Fed-derived soft landing. The falls were modest though, highlighting that despite economic slowdown nerves, the supply/demand situation remains as stagflationary tight as ever.

13-06-2022 06:08 GMT by Jeffrey Halley

Haven buying lifts the US dollar

Inflation boosts US dollar The US inflation data spurred a sharp rise in US yields across the curve, a selloff by equities, and in turn, a haven-derived rush into US dollar. The dollar index tore through resistance at 104.00 on its way to a 0.85% gain to 104.18 on Friday, rising another 0.26% to 104.46 in Asia.

13-06-2022 05:54 GMT by Jeffrey Halley

Equity sell-off continues in Asia

Asia equities slide on higher US inflation On Friday, the higher-than-expected US inflation data dissolved hopes of a less aggressive FOMC, prompting a mass sell-off of equity markets in the US and Europe. The S&P 500 slumped by 2.91%, the Nasdaq tumbled by 3.52%, and the Dow Jones fell by 2.73%.

13-06-2022 05:22 GMT by Jeffrey Halley

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