All Articles

Stock selloff resumes, bitcoin nears USD 30k

Risk aversion sends Wall Street lower Wall Street remains uninspired to ‘buy the dip’ as inflation seems poised to remain stubbornly high, which will force the Fed to tighten policy to levels that will jeopardize the soft landing most traders were expecting. No one can confidently answer the question of when stocks will hit the bottom, but if the options market is the primary focal point for many traders, that could suggest downward pressure on stocks could last a while longer. Too many invest

09-05-2022 13:30 GMT by Edward Moya

Japanese yen hits 20-year low

The Japanese yen is slightly lower at the start of the week. In the Asian session, the yen fell as low as 131.35, which marked a 20-year low. Will BoJ step in to defend the yen? The speed of the Japanese yen's depreciation has been remarkable, falling 12% against the US dollar in just three months.

09-05-2022 09:52 GMT by Kenneth Fisher

Euro steady after G-7 pledge oil ban

G-7 commits to ban Russian oil The euro has started the week quietly, although there have important developments in the West's sanction battle with Russia. On Sunday, G-7 leaders pledged to phase out or ban the import of Russian oil. As the war in Ukraine continues, the West has ratcheted up its sanctions against Moscow.

09-05-2022 07:34 GMT by Kenneth Fisher

Oil, gold looking for direction

Oil prices trade sideways Oil prices booked modest gains on Friday night after an on-target US Non-Farm Payroll release suggested that the US economy continues to perform well. Brent crude rose 1.86% to USD 113.05, and WTI rose by 1.80% to USD 110.50 a barrel.

09-05-2022 04:09 GMT by Jeffrey Halley

Risk-aversion lifts US dollar in Asia

China concerns boost the US dollar The US dollar booked some modest gains post-Non-Farm Payrolls on Friday, but the dollar index resistance zone at 104.00 held once again. The dollar index finished 0.11% higher at 103.66 having traded in a wide range intra-day.

09-05-2022 03:52 GMT by Jeffrey Halley

Equities dip, dollar up on China nerves

China tightens lockdown in Shanghai Asian equity markets are off to a bad start today, although the US dollar has been steadily rising versus Asian currencies, and the risk-sentiment barometers, the Australian and New Zealand dollars are having a tough day at the office. There is no one theme that is causing Asian equities to crate, but if I had to pick one, it would be that concerns over the depth of the China slowdown are accelerating, with virus restrictions tightening in Beijing and apparent

09-05-2022 03:42 GMT by Jeffrey Halley

Market Insights Podcast (Episode 328)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. After the data frenzy of last week, this one seems pedestrian by comparison. But beware, there are plenty of geopolitical risks out there and we have a football team of Fed speakers to shake things up this week. We start the Podcast with a wrap of Asian markets which are under pressure today as China slowdown worries really start to compound.

09-05-2022 03:13 GMT by Jeffrey Halley

Week Ahead – Volatile Markets

Every asset class has been on a rollercoaster ride as investors are watching central bankers all around globe tighten monetary policy to fight inflation. Financial conditions are starting to tighten and the risks of slower growth are accelerating.

06-05-2022 19:11 GMT by Edward Moya

Market Insights Podcast (Episode 327)

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 how financial markets reacted to another strong nonfarm payroll report, the FOMC decision, what happened in the oil market, and why cryptos crashed. They also discuss what the week ahead has in store for financial markets.

06-05-2022 17:42 GMT by Edward Moya

US Close: Another strong employment report, Wages growth slows, Stocks volatile, Oil rallies, Gold steadies

US stocks appear to be on a permanent rollercoaster ride as investors debate continued signs of a strong economy alongside rising rates, which remains a drag on higher valuation companies. For Wall Street to remain fully confident in piling back into stocks, inflation needs to be showing signs it is easing and that is not happening yet.

06-05-2022 16:15 GMT by Edward Moya

Sterling falls below 1.23

The British pound has stabilized on Friday, after sustaining huge losses a day earlier. GBP/USD is trading at 1.2342 in the European session, down 0.11%.

06-05-2022 06:12 GMT by Kenneth Fisher

Equities make a U-turn, head south

New York slump sends Asian equities lower New York equity markets did a massive volte-face overnight and decided that Jerome Powell had been hawkish after all and that higher rates and recession risks were a higher possibility. The Wednesday relief rally vanished into thin air as US stock markets saw every sector in every index get thrashed.

06-05-2022 03:54 GMT by Jeffrey Halley

Oil trades sideways, gold pares gains

Oil prices trade sideways After initially leaping higher after the proposed EU ban on Russian oil was released, oil markets have spent the past two sessions consolidating those gains. Overnight, oil traded in a wide and choppy range, but ultimately, Brent crude finished just 0.80% higher at USD 110.95, and WTI rose 0.95% to USD 108.55 a barrel.

06-05-2022 03:47 GMT by Jeffrey Halley

US dollar regains its losses

US dollar rebounds on risk aversion The US dollar reversed higher, unwinding all its post-FOMC losses as risk aversion swept other asset markets and US 10-year yields rose and closed above 3.0%. Support at 102.50 held beautifully on a closing basis, signalling more US dollar gains ahead.

06-05-2022 03:32 GMT by Jeffrey Halley

Bear market Friday

Equity markets take a tumble It’s a little hard to know where to start today after a massive risk aversion wave swept markets overnight, so let’s start where I believe the rot really began, the Bank of England policy decision overnight. The Bank of England raised rates by 0.25% to 1.0% in a split decision (three members wanted 0.50%), which was in line with expectations.

06-05-2022 03:08 GMT by Jeffrey Halley

NZD falls right back down

The New Zealand dollar has reversed directions on Thursday and is sharply lower. In the North American session, NZD/USD is trading at 0.6418, down a massive 1.90% on the day. US dollar rebounds after FOMC The New Zealand dollar is showing plenty of volatility.

05-05-2022 11:28 GMT by Kenneth Fisher

Pound takes a tumble after BoE hike

The British pound is fading badly on Thursday. GBP/USD has dropped a staggering 2.15% today and has fallen below the 1.24 line for the first time since July 2020.

05-05-2022 10:13 GMT by Kenneth Fisher

Market Insights Podcast (Episode 326)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. It's the Bank of England Podcast today as I step into the breach, once again, for Craig Erlam. But before that, we discuss last night's Federal Reserve rate hike, its market impact, and the nuances of the statement. I also give my thoughts on whether the relief rally in equities it sparked, and the US Dollar sell-off will actually last. Then it's to the Bank of England who have j

05-05-2022 09:39 GMT by Jeffrey Halley

Oil surges as EU nears Russian ban, gold gets groove back

Oil soars on EU oil sanctions, Fed Crude prices surged after EU outlined plans on phasing Russian oil and following the FOMC decision that signaled Wall Street has passed peak hawkishness. The oil market will remain tight going forward and now that a peak in the dollar is in place crude prices should have extra support here. The latest EIA crude oil inventory report posted a surprise build but energy traders fixated over the strategic petroleum reserves falling to the lowest levels in over two

05-05-2022 08:05 GMT by Edward Moya

Fed Reaction: Fed confident in soft landing, not considering 75bps, stocks rally, Musk’s ape tweet

Fed hikes by a half-point A historic Fed decision is in the books and Fed Chair Powell did not disappoint. The Fed delivered the first-rate hike in 22 years and signaled more rate increases are appropriate and that the balance sheet runoff will begin in June. Growth is cooling and that could get a lot worse as the Ukraine invasion will continue to drive upward pressure on prices. Wall Street still believes the Fed will be able to deliver a soft landing and that is good news for equities. The

05-05-2022 08:00 GMT by Edward Moya

All news & analysis