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Dollar stages corrective recovery on a quiet day Currency markets are quiet post the US holiday overnight, and that has allowed a modest short-covering US dollar rally to develop after US yields ticked higher in Asia. The dollar index has added 0.26% to 101.63 this morning, mid-range between support/resistance at 101.00 and 102.50. EUR/USD has given back most of its overnight gains, easing 0.28 to 1.0750 today.

31-05-2022 04:07 GMT by Jeffrey Halley

Asia sending mixed signals

Asian markets mixed after the US holiday US markets were closed overnight, but European markets enjoyed a positive overnight session, grasping the baton from Asia. Equity markets have had some of the gloss removed thanks to hawkish ECB comments and higher than expected German inflation.

31-05-2022 03:49 GMT by Jeffrey Halley

Asia drifts in post-holiday doldrums

With US markets closed overnight, Asian markets are drifting today. Equities are mixed with currency markets are indulging in some modest US dollar short-covering as US bond futures fall (yields up).

31-05-2022 03:32 GMT by Jeffrey Halley

EUR/USD - Recovery losing momentum

Running into resistance The dollar has given back a decent portion of its recent gains over the last couple of weeks and has now reached some very interesting levels. The greenback correction has coincided with a hawkish shift from the ECB which has lifted the euro, making the impact on the EURUSD pair all the more significant. But how much further can it run? It's now reached a potentially significant area around 1.08 where the top of the steeper descending channel crosses the 50 and 61.8

30-05-2022 12:27 GMT by Craig Erlam

Oil extends gains

Oil prices rally Oil prices are continuing to edge higher as China further eases lockdown restrictions in Shanghai. The lockdowns in China have countered some of the supply shortages in recent months and stopped oil prices from rising too far but with restrictions lifting and the EU closing in on a Russian import ban, we could see Brent back at the early March highs.

30-05-2022 12:24 GMT by Craig Erlam

Small gains amid higher inflation in Europe

It's not been the most eventful start to the week and with bank holiday's littered throughout, that may remain the case. European equity markets are modestly in the green as risk appetite held up following some positive moves last week. The slight paring back of interest rate expectations appears to be behind the recovery we've seen this past week which makes me seriously question its sustainability. The idea of the economy slowing and fewer rate hikes being warranted just doesn't scream stock

30-05-2022 12:21 GMT by Craig Erlam

Euro gains ground in thin holiday trade

The euro is coming off an excellent week, with gains of 2.15%. EUR/USD is trading in positive territory on Monday and is poised to record its first winning month. German inflation rises For those hoping for an inflation peak in the eurozone, it appears that the wait will continue.

30-05-2022 12:12 GMT by Kenneth Fisher

Australian dollar extends rally

The Australian dollar continues to gain ground. AUD/USD has risen 0.31% on the day and is slightly below the 0.72 line.

30-05-2022 10:21 GMT by Kenneth Fisher

NZ dollar shines as US dollar retreats

The New Zealand dollar continues to take advantage of US dollar weakness. NZD/USD posted sharp gains last week, climbing 2.01%. Will Business Confidence improve? The week kicks off with ANZ Business Confidence, which has been in deep-freeze for months.

30-05-2022 07:14 GMT by Kenneth Fisher

Oil rises, gold trading sideways

Brent crude rises above USD 120.00 The disconnect between energy prices and optimism in equity markets continues today in Asia. On Friday, oil prices surged once again, driven by an unrelenting squeeze on refined products, notably diesel and gasoline, globally, with the US driving season about to begin in earnest.

30-05-2022 05:32 GMT by Jeffrey Halley

US dollar dips on risk appetite

Still improving risk sentiment sends US dollar lower The US dollar declined once again on Friday as improving risk sentiment continues to unwind the 2022 US dollar rally. That has spilt over into Asian markets today, with regional currencies booking some decent gains versus the greenback this morning.

30-05-2022 05:01 GMT by Jeffrey Halley

Asia extends Wall Street gains

Asian markets rally on positive Wall Street and China hopes US markets closed out the week on another positive note after US data alleviated inflation fears and thus, future Fed tightening, and showed strength among US consumers still. Realistically, after such a positive week, it would have taken a lot to knock the FOMO gnomes of Wall Street off their path of bottom-picking nirvana.

30-05-2022 04:47 GMT by Jeffrey Halley

China Covid hopes boost Asia

Asian markets are mostly positive this morning as Shanghai announced a raft of stimulus measures and both Shanghai and Beijing eased Covid-19 restrictions. The devil is in the detail of course, and workers in both cities still face challenges either going to work, or even being allowed to leave the house.

30-05-2022 04:24 GMT by Jeffrey Halley

Market Insights Podcast (Episode 335)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. It's June already and a blockbuster week for data releases around the world. First of all, we take a look back at last Friday's impressive US equity close.

30-05-2022 03:09 GMT by Jeffrey Halley

Week Ahead - Another action-packed week

Will the recovery continue? It's likely to be another action-packed week despite numerous countries seeing it shortened by bank holidays. The jobs report is typically the highlight when it comes to the first week of the month but there will be competition from the OPEC+ meeting, Bank of Canada rate decision and inflation data. We've seen a shift in markets over the last couple of weeks, with interest rate concerns being replaced by recession fears and then risk appetite improving after a c

27-05-2022 19:02 GMT by Craig Erlam

Back to winning ways

How sustainable is it? Another positive session in equity markets as bargain hunters are tempted back in to cap off the first winning week in eight in the US. It's been a rough ride and despite this week's performance, there could still be more pain to come. But at these levels, it's only natural that the vultures are circling.

27-05-2022 17:19 GMT by Craig Erlam

Market Insights Podcast (Episode 334)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss the latest moves in stocks and oil, as well as the cost-of-living crisis in the UK.

27-05-2022 16:17 GMT by Craig Erlam

AUD hits 3-week high, retail sales climb

The Australian dollar is showing strong gains today. In the European session, AUD/USD is trading at 0.7145, up 0.66% on the day. Australia released retail sales earlier today, salvaging what had been a lacklustre week for Australian releases.

27-05-2022 08:03 GMT by Kenneth Fisher

Canadian dollar higher on retail sales

The Canadian dollar hasn't made any spectacular daily gains since May 13th, when it shot up 1.1%. The currency has, however, made slow but steady progress against its US cousin.

27-05-2022 07:24 GMT by Kenneth Fisher

Improved risk sentiment sends USD lower

US dollar stuck in choppy waters The choppy range trading of the past few session continued overnight as the US dollar swung on day-to-day moves in risk sentiment. A powerful session by Wall Street, along with almost unchanged closes in US bond markets saw improved risk sentiment send the greenback lower overnight.

27-05-2022 06:28 GMT by Jeffrey Halley

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