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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

Australian dollar at 4-week low

The Australian dollar remains under pressure, as AUD/USD is in negative territory at the start of the week, trading at 0.7367 in Europe. The currency has eked out just one winning daily session in the past eight and is trading at 4-week lows. Fed, China weighing on Aussie The Australian dollar can't seem to buy a break, as the currency fell on Friday and is down today, even with Australian markets closed for Easter Friday and Monday.

18-04-2022 07:51 GMT by Kenneth Fisher

Libya nerves lift oil prices

Oil prices are around 1.0% higher today in Asia as trading resumes after the Good Friday holiday. In thin trading, oil closed modestly higher on Thursday, and today, Brent crude has risen to USD 112.75 a barrel, and WTI to USD 108.00 a barrel.

18-04-2022 06:06 GMT by Jeffrey Halley

Fed tightening fears boost US dollar

US dollar soars on Fed tightening nervousness, weak euro The euro and yen have tumbled since Thursday, and US bond yields have noticeably firmed once again as Fed rate hike fears increase the closer we get to May’s FOMC. That has combined to punish the dollar index substantially higher, rising 0.50% to 100.33 on Thursday.

18-04-2022 05:51 GMT by Jeffrey Halley

Fed hike concerns weigh on Asia

Asia equity markets tumble on China/US fears Equity markets finished weaker in the US on Thursday as investors took risk off the table ahead of the long weekend, and Fed rate hike fears pushed US yields sharply higher, spiking equity prices. The S&P 500 fell 1.21%, the rate-sensitive Nasdaq tumbled by 2.14%, while the Dow Jones retreated by 0.32%, backstopped by firm oil prices.

18-04-2022 05:23 GMT by Jeffrey Halley

China GDP beat reveals cracks

With most of Europe, as well as Hong Kong, Australia, and New Zealand on holiday today, the focus of the day has been on this morning’s tier-1 data releases from China. China GDP YoY for Q1 beat expectations, rising by 4.80% (4.50% exp), and rising 1.30% QoQ (0.60% exp).

18-04-2022 04:47 GMT by Jeffrey Halley

Aussie under pressure from Fed, China

The Australian dollar has extended its losses today, as AUD/USD trades just above the 0.74 line in the European session. It has been a rough stretch for the currency, which has managed just one winning session since April 5th. The Australian dollar has been hurt by the Fed-powered US dollar as well as concerns about China's growth, as the country grapples with an outbreak of Covid. The Federal Reserve has embarked on a rate-tightening cycle, which began with a 0.25% hike at the March meeting.

15-04-2022 08:57 GMT by Kenneth Fisher

USD/JPY - up, up and away

The Japanese yen can't seem to buy a break, as the currency has been pummelled by the US dollar, and is down by a massive 9% this year. Earlier today, USD/JPY hit 126.68, its highest level since May 2002.

15-04-2022 07:35 GMT by Kenneth Fisher

Euro slides after ECB meeting

The euro has steadied on Friday, as EUR/USD trades slightly above the key 1.0800 line. Euro falls to April 2020 lows ECB policymakers didn't have much to say at the policy meeting on Wednesday, and the lack of any action was the rub that bothered investors and sent the euro lower by over 1% to 1.0757, its lowest level since April 2020. For those keeping track, it has been a miserable month of April, with EUR/USD down 2.23%. What did we learn from the ECB meeting?

15-04-2022 05:51 GMT by Kenneth Fisher

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