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The pound continues to lose ground and is trading at its lowest level since May 2020. GBP/USD fell below the 1.22 level earlier and hasn't had a daily winning session since May 4th. Negative growth raises alarm bells The UK economy is struggling, a grim fact which was brought home by the Q1 GDP report earlier today.

12-05-2022 07:17 GMT by Kenneth Fisher

Market Insights Podcast (Episode 329)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discuss US inflation, a potential ECB rate hike and bitcoin.

12-05-2022 07:08 GMT by Craig Erlam

Euro drops to January 2017 lows

The euro has fallen close to the 1.04 level, which has held since January 2017. In the European session, EUR/USD is trading at 1.0429, down 0.81% on the day. ECB hints at a rate hike in Q3 After years of monetary easing which was fueled by low inflation levels, the ECB is slowly but surely switching gears and talking openly about a rate hike.

12-05-2022 05:57 GMT by Kenneth Fisher

Oil jumps, gold under pressure

Oil markets remain volatile Oil prices spiked overnight, led by a combination of Shanghai reopening, potential gas supply disruption through Ukraine, Russian sanctions on EU energy entities and a plunge in gasoline inventories in the US. Brent crude rose 5.90% to USD 107.50, and WTI leapt 6.60% higher to USD 105.50 a barrel.

12-05-2022 04:40 GMT by Jeffrey Halley

Asian currencies falter

US dollar in choppy waters The dollar index had another choppy range overnight but ultimately closed nearly unchanged once again as the G-10 currency space was content to watch from the sidelines. Recessions fears being offset by lower US yields.

12-05-2022 04:22 GMT by Jeffrey Halley

US inflation pushes equities lower

Asian equities follow Wall Street lower Asian equities markets are mostly lower today after Wall Street tumbled once again after US inflation data reinforced the Fed tightening path. Admittedly, it took Wall Street some time to come to that conclusion, but the day finished with the S&P 500 down 1.65%, the Nasdaq tumbling by 3.18%, and the Dow Jones losing 1.01%.

12-05-2022 04:10 GMT by Jeffrey Halley

Asia Wobbles Post-US Inflation

US inflation higher than expected US Inflation printed at 8.30% YoY overnight, less than the previous month's 8.50%, but slightly more than the 8.10% median forecast by markets. Equities vacillated after the data as the street tried to make up its mind whether to price in “peak-US-inflation,” or not.

12-05-2022 03:55 GMT by Jeffrey Halley

Oil pullback ends, gold steadies

Oil Energy traders are bullish on oil prices again as China’s COVID situation shows signs of improving and after the dollar eased following a hot inflation report that did little to change short-term Fed rate hiking expectations. The oil market can’t justify oil prices below USD 100 given the potential shock that will occur once the EU is able to move forward with their ban on Russian crude.

11-05-2022 12:02 GMT by Edward Moya

Inflation remains hot, stocks rebound as peak inflation appears to be in place, bitcoin breached USD 30k

At first, it looked like inflation broke the S&P 500’s back as investors sold everything following across the board hot beats with every inflation headline, as the initial take was that the Fed will need to do more to fight inflation. Today’s market reaction to the inflation report will make it hard to attract any investor who is still on the sidelines. The risks on Wall Street are growing and now include a Fed policy mistake, liquidity and credit risks, and growth concerns. The Fed is still

11-05-2022 11:56 GMT by Edward Moya

Pound rises on US inflation, GDP looms

The British pound is in positive territory, as the currency tries to break a four-day losing streak. In the European session, GBP/USD is trading at 1.2355, up 0.36% on the day. US inflation slows, but is higher than expected US inflation dipped in April, but still came in above the forecast.

11-05-2022 10:20 GMT by Kenneth Fisher

Oil rallies, gold remains vulnerable

Oil higher while gas volatile amid Ukraine force majeure Oil prices are rallying on Wednesday after briefly dipping below USD 100. WTI fell back to around USD 98.20 before recovering to trade more than 3% higher on the day.

11-05-2022 09:10 GMT by Craig Erlam

Cautious optimism

Stock markets are pushing cautiously higher again on Wednesday as investors await a huge inflation report from the US ahead of the open on Wall Street. The report is expected to be the first that will indicate inflation has peaked and a sharp decline is underway. That doesn't mean inflation is expected to return to target any time soon but it will come as a massive relief to investors, households and businesses alike after months of watching price pressures accelerate higher. The fear is that th

11-05-2022 09:04 GMT by Craig Erlam

Inflation on the mind of NZ dollar

The New Zealand dollar has posted strong gains on Wednesday. In the European session, NZD/USD is trading at 0.6345, up 0.86% on the day. NZD/USD has been on a nasty slide, with only one winning session since April 20th.

11-05-2022 07:29 GMT by Kenneth Fisher

Euro edges up, eyes US inflation

Lagarde signals a rate hike ECB President Christine Lagarde spoke today at an event sponsored by the Slovenia Central Bank, but what was of most interest were her remarks on future rate hikes. The ECB remains in dovish mode, but with inflation hitting 7.5% in the eurozone, the ECB will be tightening the monetary screws.

11-05-2022 06:28 GMT by Kenneth Fisher

Oil rebounds, gold trading sideways

Oil rallies in Asia Oil prices continued falling overnight as China slowdown nerves and increasingly, US recession fears weighed on prices. In Asia, we have seen a sharp bounce as energy markets price in most China stimulus after benign inflation data, with Ukraine gas disruption likely having a flow-through impact on oil prices. Overnight, Brent crude finished 3.55% lower at USD 101.50, and WTI closed 3.45% lower at USD 99.00 a barrel.

11-05-2022 05:23 GMT by Jeffrey Halley

Currency markets consolidate

US dollar trading sideways Currency markets were content to leave the equity FOMO gnomes to chase their tails overnight, while currencies traded sideways ahead of US inflation data tonight. The dollar index is almost unchanged over the past 24 hours at 103.80 this morning.

11-05-2022 05:07 GMT by Jeffrey Halley

Asia bets on China stimulus

Mainland China stocks are leading the way higher today after China's Inflation data showed a still very benign inflation landscape. Inflation YoY in April climbed to 2.10% (1.8% exp), and Inflation MoM for April increased by 0.40% (0.20% expected).

11-05-2022 04:09 GMT by Jeffrey Halley

US Close - Stock rebound in volatile trade, Crude prices crumble, Gold falls, Bitcoin follows Nasdaq rally

US stocks were all over the place as investors assess a wall of worry that include a weakening consumer, persistent supply chain issues, and growth concerns, while some investors think the selling of stocks is nearing the end. Billionaire hedge fund manager David Tepper noted that he covered his Nasdaq short and anticipates that 12,000 holds for the Nasdaq. The bond market selloff is clearly repositioning itself ahead of tomorrow’s inflation data as the 10-year Treasury yield is well below yest

10-05-2022 15:09 GMT by Edward Moya

Bitcoin - Massive Support

Will it break this time? It goes without saying that it's been a pretty torrid six months for bitcoin since hitting all-time highs close to $69,000. Soaring inflation has forced central banks around the world into action and at the most aggressive pace since the global financial crisis. What's more, there's much more to come, so much so that recessions may well be on the cards. Risky assets have been pummelled as a result, few more so than the ultimate risk asset - bitcoin.

10-05-2022 12:13 GMT by Craig Erlam

Pound stable but markets uneasy

The British pound is in calm waters early in the week, as GBP/USD trades slightly above the 1.23 line. There are no major releases out of the UK or the US, which means that the pound should enjoy a quiet day. Can the BoE get it right? The British pound plunged over 2% last Thursday, a most difficult feat, considering that the Bank of England actually raised interest rates at its meeting that day.

10-05-2022 10:28 GMT by Kenneth Fisher

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