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Asian equities shrug off weaker China Industrial Profits Wall Street staged a powerful rally overnight thanks to mostly impressive results from US retailers. The S&P 500 rallied by 1.99%, the Nasdaq leapt 2.68%, and the Dow Jones climbed by 1.62%.

27-05-2022 05:09 GMT by Jeffrey Halley

Friendly Friday

Asian equities move higher Asian markets have begun the day in an altogether positive mode after Wall Street outperformed overnight. Driving the equity rally were good results from department store retailers, notably high-end ones.

27-05-2022 04:55 GMT by Jeffrey Halley

Oil higher, gold softens

Oil Crude prices rose as a tight oil market was going to remain in place given the start of the summer driving season was going to keep a downward trajectory for US stockpiles. The EU is struggling to get Hungary on board for the required unanimous support needed for a ban on Russian oil. It still seems possible for the ban to get pushed through, but Hungary will need to have favorable terms. The gains for crude were limited as China’s Premier Li Keqiang delivered a downbeat outlook given the

26-05-2022 11:16 GMT by Edward Moya

Stocks edge higher, better retail earnings, claims improves, crypto bearish sentiment remains

US stocks are rallying as investors viewed both the Fed’s Minutes as a commitment to only gradual tighten policy to fight inflation and after a few retailers provided optimistic outlooks. The Fed locked itself into delivering a couple of half-point rate increases until the Jackson Hole Symposium and that has removed the risk of aggressive tightening in the short term. For some traders, having a strong idea on when the Fed will end its hiking cycle is the key for giving everyone the greenlight

26-05-2022 11:10 GMT by Edward Moya

AUD drifting ahead of retail sales

The Australian dollar started the week with gains of close to one percent, but has been mostly drifting since then. AUD/USD is trading quietly, just below the 0.71 line. It hasn't been a very good week on the Australian release front, raising concerns that the economy may be slowing down.

26-05-2022 10:20 GMT by Kenneth Fisher

Oil steady, gold dips as US dollar rises

Oil markets slumber Oil prices had another comatose session by their standards, barely rising from the day before. Nevertheless, both Brent crude and WTI have held on to all their recent gains, suggesting the weaker side is the upside in prices for now.

26-05-2022 06:13 GMT by Jeffrey Halley

Currency markets are quiet

US dollar edges higher after FOMC minutes The US dollar staged a modest relief rally overnight after the FOMC Minutes came out. Nevertheless, some decent ranges were seen across the majors.

26-05-2022 06:06 GMT by Jeffrey Halley

FOMC minutes settle nerves

FOMC to stick to 50bps moves The FOMC Minutes, released overnight, settled a few nerves temporarily, signalling another couple of 50bps rate hikes in June and July before a pause in September. The dreaded 75bps hike threat was off the agenda and with some slowdowns in recent US data, notably in the housing market, it was enough to spur a relief rally of sorts in US equities and the US dollar. Once again, that is translating to an uneven response by Asian markets thanks to China nerves.

26-05-2022 02:54 GMT by Jeffrey Halley

Oil higher, gold pares losses after minutes

Oil Crude prices were little changed after the EIA crude oil inventory report showed stockpiles are declining again as refiner activity picked up. The Strategic Petroleum Reserve saw a big draw of 6 million barrels, with crude stocks now at the lowest levels in over thirty years.

25-05-2022 16:14 GMT by Edward Moya

Fed minutes confirm half-point hike expectations for next 2 meetings, another round of soft US data, RBNZ hikes again, bitcoin stuck below USD 30k

US stocks edged higher as investors anticipate a quickly weakening economy will force the Fed into tapping the breaks with their tightening cycle. The FOMC minutes are over three weeks old, but they did give a glimmer of hope that they could adjust their policy tightening stance later in the year. The Fed mostly sees 50 basis point increases appropriate at the next couple of meetings as they are behind the curve with fighting inflation. The Fed is optimistic about the economy, but they are

25-05-2022 16:11 GMT by Edward Moya

Market Insights Podcast (Episode 333)

OANDA Senior Market Analyst Ed Moya previews the day's market news with Jonny Hart. They discussed markets, the latest round of US economic data, President Biden's comments on China, the RBNZ rate decision and cryptos.

25-05-2022 15:46 GMT by Edward Moya

Swiss franc rally takes a breather

Swiss banks are traditionally known for avoiding publicity, and the same can be said for the Swiss franc, which is usually fairly steady and doesn't make the headlines. Earlier this month, however, the Swissie hit a milestone, as it achieved parity with the US dollar, the first time that's happened since December 2019. Swiss franc flirts with parity The Swiss franc was steamrolled by the US dollar in April, as USD/CHF surged by 5.48%, its best one-month performance since May 2012.

25-05-2022 11:50 GMT by Kenneth Fisher

Oil consolidates, gold dips ahead of FOMC

Risks remain tilted to the upside in oil Oil prices are continuing to consolidate around the upper end of their trading range over the last couple of months. Concerns about Covid cases in Beijing and global growth are continuing to prevent a much larger rally in oil prices as a result of the undersupply in the market, a potential EU ban on Russian imports and the reopening in Shanghai. We're seeing gains again today of around 1% but these are still relatively small and represent a slowing of mom

25-05-2022 11:15 GMT by Craig Erlam

Awaiting FOMC minutes

Stock markets are a little flat on Wednesday as investors await minutes from the May FOMC meeting. I'm not sure what exactly investors are holding out for. A lot has changed in the markets over the last few weeks and we've had a lot of Fed commentary in that time that is arguably more relevant than almost anything we can take from the minutes. That said, this is nothing new and investors are always wary of what could happen.

25-05-2022 11:11 GMT by Craig Erlam

Euro rally hits a wall

Euro falls sharply The euro has reversed directions on Wednesday and is sharply lower. In the European session, EUR/USD is trading at 1.0663, down 0.67% on the day.

25-05-2022 09:27 GMT by Kenneth Fisher

NZ dollar jumpy after RBNZ decision

The New Zealand dollar is almost unchanged on Wednesday. NZD/USD posted strong gains in the Asian session but has surrendered most of those gains. RBNZ shows hawkish teeth The Reserve Bank of New Zealand delivered on expectations, with a 0.50% rate hike which brings the cash rate to 2.0%, its highest level since 2016.

25-05-2022 06:54 GMT by Kenneth Fisher

Oil and gold head higher

White House unnerves oil markets Oil prices continued to range trade overnight, finishing almost unchanged in New York. Asia, though, has seen both Brent crude and WTI rise.

25-05-2022 05:33 GMT by Jeffrey Halley

US dollar’s orderly retreat continues

Recession jitters send US dollar lower The US dollar eased once again overnight, as US recession fears continue to lead to a repricing lower of Fed tightening expectations. With quantitative tightening starting next week and no signs of inflation falling, that may be more hope than reality.

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

A mixed day for Asian equities

Nasdaq slides, Asia in mixed mood Overnight, a procession of poor US data delivered another kidney punch to US equities, with the tech-heavy Nasdaq bearing the brunt once again, as the more value-heavy Dow Jones remained steady. The S&P 500 fell by 0.80% as the Nasdaq slumped by 2.35%, while the Dow Jones managed a tiny 0.16% gain.

25-05-2022 04:45 GMT by Jeffrey Halley

Least worst choices

RBNZ hikes by 50-bps The Reserve Bank of New Zealand has raised policy rates by 0.50% to 2.0% this morning, with Governor Orr setting a hawkish tone in the press conference afterwards. In the statement itself, the RBNZ’s “least worst choices” policy seemed to imply that although external risks remained, the domestic economy was strong and could tolerate tighter monetary conditions.

25-05-2022 04:32 GMT by Jeffrey Halley

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