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It's been a slightly better day for stock markets in Europe as they continue to fluctuate in the same ranges they've traded in for the last month. US indices are having a mixed start, with the Dow outperforming, up around 1%, while the S&P is managing small gains and the Nasdaq is getting hit in the aftermath of Netflix's results. The tech sector has had a rough year as a result of the drastically changing interest rate environment and results like those from Netflix don't help.

20-04-2022 12:46 GMT by Craig Erlam

NZ dollar soars ahead of CPI

The New Zealand dollar has recorded strong gains on Wednesday. In the North American session, NZD/USD is trading at 0.6807, up 1.1% on the day. The US dollar is in full retreat against the majors today.

20-04-2022 12:37 GMT by Kenneth Fisher

Market Insights Podcast (Episode 320)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the latest market moves in light of higher yields, the BoJ moves to protect its yield curve control (YCC) policy, Chinese support measures and the ECB.

20-04-2022 12:20 GMT by Craig Erlam

Canadian dollar jumps as CPI surges

Canada's inflation outperforms The Canadian dollar is up sharply on Wednesday, as Canada's inflation report was hotter than expected. In the North American session, USD/CAD is trading at 1.2519, down 0.74% on the day. Canada's CPI for March jumped 6.7% YoY, a full percentage point higher than the 5.7% gain in February.

20-04-2022 09:43 GMT by Kenneth Fisher

Japanese yen rebounds on BoJ

It has been a busy day for the Japanese yen. The currency came tantalizingly close to the symbolic 130 level earlier today, but then reversed directions.

20-04-2022 07:47 GMT by Kenneth Fisher

Oil down on IMF, gold whipsaws

IMF China forecast slams oil prices Libya’s production and export issues have been quickly forgotten as the IMF belatedly lowered its forecast for China's GDP this year, citing Covid-zero challenges amongst others. Lower China growth equals lower oil consumption in the simplistic minds of day traders, and oil prices duly slumped.

20-04-2022 05:49 GMT by Jeffrey Halley

US dollar eases in Asia

BoJ intervention boosts yen The Japanese yen is once again driving the dollar index direction today. Having risen by 0.18% to resistance at 101.00 overnight, it has retreated by 0.28% to 100.71 this morning.

20-04-2022 05:40 GMT by Jeffrey Halley

FOMO fears send Asian markets higher

Asian equities, ex-China, follow New York higher The perpetually bullish FOMO gnomes of Wall Street sent US equities sharply higher overnight as the day’s roster of Fed speakers refused to be as bullish as James Bullard. That allowed the fast money to pile back into a hope versus reality rally as equity markets clung to the belief that the Fed has it right.

20-04-2022 05:13 GMT by Jeffrey Halley

China disappoints on stimulus hopes, again

China maintains LPRs China disappointed markets that were looking for more comprehensive stimulus measures as it left both its one and five-year Loan prime Rates (LPR) unchanged. Although the PBOC did announce some targeted support measures for homeowners and small businesses and set a much weaker CNY fix versus the US dollar today, equities in China have bucked the trend elsewhere, heading directly south. China continues to stay wedded to deleveraging parts of the economy while attempting to a

20-04-2022 03:57 GMT by Jeffrey Halley

Oil slides, gold eyes USD 2000

Oil slips back but upside risks remain Another volatile day of trade in oil markets has seen Brent and WTI falling around 5%. Lower growth forecasts and slower Chinese growth at the end of the first quarter amid lockdowns appear to have driven the bulk of the move, although it comes following a strong four-day rally after the world's second-largest economy started easing restrictions. There remain plenty of upside risks to the oil price, even at these levels, which makes today's large declines a

19-04-2022 13:52 GMT by Craig Erlam

A mixed day in stock markets

Europe in the red, US equities climb A mixed day that has seen European indices slip a little into the red, while Wall Street is enjoying better returns of more than 1% on Tuesday. US equities are managing decent gains even as yields continue to head higher and traders are forced to consider the possibility of 75 basis point increases, something not seen in almost three decades. That is what James Bullard has indicated, although even he - one of the more hawkish members of the FOMC - acknowledge

19-04-2022 13:46 GMT by Craig Erlam

New Zealand dollar stems the bleeding

The New Zealand dollar is unchanged on Tuesday, but the currency has been under pressure. NZD/USD has managed only one gain in the past two weeks.

19-04-2022 13:35 GMT by Kenneth Fisher

Australian dollar rebounds on hawkish RBA

The Australian dollar is back in positive territory on Tuesday, after four straight losing sessions. In the North American session, AUD/USD is trading at 0.7384, up 0.51% on the day. RBA hints at an earlier rate hike The RBA sent a hawkish message to the markets, as the minutes from the April meeting provided a strong hint that a rate hike is coming sooner than had been expected.

19-04-2022 10:43 GMT by Kenneth Fisher

Yen slides to 128 against dollar

The Japanese yen's downswing has continued full force this week, as the currency can't find its footing. USD/JPY is trading at 128.40 in Europe, up 1.1% on the day. Yen closing in on 130 The yen continues its nasty slide, with the currency having fallen for twelve successive sessions against the dollar.

19-04-2022 07:23 GMT by Kenneth Fisher

A bullard in a China shop

The who can be the most hawkish Federal Reserve President continued overnight as James Bullard came out swinging, suggesting that Fed Funds may need to rise to a “neutral” rate of 3.50%, and suggesting a 0.75% rate hike along the way wasn’t out of the question. The impact of the statements was minimal in the end as it likely doesn’t reflect the views of the FOMC, yet.

19-04-2022 05:34 GMT by Jeffrey Halley

Oil rises, gold eases lower

Libya nerves lift oil prices Libyan officials announced several force majeure on oil deliveries overnight, as expected. With export terminals effectively shut down due to protests or occupation, oil prices edged higher, helped by the Ukrainian comments that Russia’s eastern assault had begun.

19-04-2022 05:32 GMT by Jeffrey Halley

US dollar rally continues

Bullard's hawkish comments boost US dollar The dollar index rose once again overnight, flattered by further losses by the Japanese yen and a slight rise in US yields overnight after the Bullard comments. The dollar index rose 0.32% to 100.80 overnight, adding another 0.18% to 101.00 as the yen tumble continues in Asia.

19-04-2022 05:19 GMT by Jeffrey Halley

Asian markets mixed

Asian equities are having a mixed session New York equity markets had a noisy but ultimately ranging session overnight as upbeat Bank of America results were balanced out by Ukraine geopolitical caution and the Fed’s Bullard talking 0.75% rate hikes. The S&P 500 edged 0.02% lower, the Nasdaq fell by 0.14%, and the Dow Jones slid just 0.10%.

19-04-2022 04:29 GMT by Jeffrey Halley

Japanese yen extends slide

It was another rough week at the office for the Japanese yen, as USD/JPY fell 1.67%. The crumpling yen hasn't eked out a daily gain since March and has extended its losses today.

18-04-2022 13:26 GMT by Kenneth Fisher

More woes ahead for the euro?

The euro is down slightly on Monday, as EUR/USD trades at the key 1.0800 line in North America. With German and French markets closed for Easter Monday, it's likely to be a quiet day for the euro. Euro struggling at 2-year low The euro continues to lose ground, and last week EUR/USD tested a multi-decade support line at 1.0800.

18-04-2022 11:20 GMT by Kenneth Fisher

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