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Cautiously higher after strong jobs report

Equity markets are nudging higher at the end of the week after suffering losses a day earlier, as the consolidation phase continues. This continues to be a very headline-driven market and they're coming thick and fast. Talks between Ukraine and Russia are progressing well, it seems, but things can change rapidly, for better or worse.

01-04-2022 09:20 GMT by Craig Erlam

Euro stems bleeding as CPI hits 7.5%

Inflation sizzling in the eurozone Inflation has been skyrocketing in the US and UK, giving the Fed and BoE plenty of sleepless nights. Inflation levels had been lower in the eurozone, and ECB President Christine Lagarde has not made inflation a priority, arguing that high inflation would ease.

01-04-2022 07:34 GMT by Kenneth Fisher

CAD in holding pattern ahead of NFP

The Canadian dollar has posted small gains, trading just below the symbolic 1.25 line in the European session. We could see stronger movement from the currency when US nonfarm payrolls are released later today. The month of March has brought plenty of turbulence to the financial markets, highlighted by the Ukraine-Russia war, which shows no signs of ending anytime soon.

01-04-2022 06:33 GMT by Kenneth Fisher

Japanese yen slips, NFP next

The Japanese yen has reversed directions and is down sharply on Friday. In the European session, USD/JPY is trading at 122.68, up 0.81% on the day. All eyes are on US nonfarm payrolls, with an estimate of 490 thousand jobs.

01-04-2022 04:10 GMT by Kenneth Fisher

Oil edges lower, gold trades sideways

Oil is slightly softer in Asia Oil prices fell in Asia yesterday after the Biden SPR release story started circulating. That was confirmed overnight, with 1 million bpds for the next 180 days to be released.

01-04-2022 03:04 GMT by Jeffrey Halley

The US dollar reverses losses

Dollar recovers on Russia-Europe energy spat The US dollar rebounded overnight as the energy payment standoff with Russia and Europe took a turn for the worse, and quarter-end demand for US bonds boosted dollar demand. The dollar index rose 0.52% to 98.35, adding another 0.13% to 98.48 in Asia.

01-04-2022 02:55 GMT by Jeffrey Halley

Soft data leaves Asian equities cautious

Asian markets are having a mixed day Asian equities are having a very mixed day after stocks in the US ended the quarter on a soft note, although quarter-end flows may have muddied the price action. The S&P 500 fell 1.57%, the Nasdaq fell 1.54%, and the Dow Jones fell 1.56%, even as US yields eased on quarter-end buying and on target US data.

01-04-2022 02:47 GMT by Jeffrey Halley

Asia data weakens

Q2 of 2022 is going to start as messily as Q1 has finished, with markets buffeted by a multitude of strong winds from various directions, with the outcome no clearer for the future than ever. The Russian invasion of Ukraine continues to grab headlines, with massive downstream impacts on commodity prices globally.

01-04-2022 02:35 GMT by Jeffrey Halley

Pound shrugs as UK GDP revised upwards

UK economy up 1.3% in Q4 The British economy performed better than expected in the fourth quarter. Final GDP rose by 1.3% in Q4 of 2021, upwardly revised from the first quarterly estimate of a 1.0% gain.

31-03-2022 13:12 GMT by Kenneth Fisher

Oil pares losses post OPEC+, gold rallies on Putin gas threat

Crude prices pared losses after OPEC+ decided “to stay the course” and maintained the gradual output increase strategy. Oil was down earlier after reports that the Biden administration was considering a record reserve release of up to 180 million barrels from the country’s strategic petroleum reserve (SPR).

31-03-2022 12:38 GMT by Edward Moya

Worst quarter for stocks in two years, US data, Walgreens earnings, bitcoin lower

Equities fall on inflation jitters, Russia Stocks finished the quarter on a down note as the latest economic data shows inflation is weighing on the consumer and as President Putin vows to halt gas supplies to Europe unless payments are made in roubles. The worst quarter in two years isn’t so bad as the S&P 500 index is roughly 5% away from record highs. Wall Street will have a lot to debate over the next few months but a choppy stock market seems likely as no clear answers will be had on when

31-03-2022 12:34 GMT by Edward Moya

Equities drift lower

Equity markets are a little lower on Thursday, as the broad consolidation continues against the backdrop of gradual progress on Ukraine, fluctuating energy prices and inverting yield curves. There's plenty out there at the moment to make us nervous but at the same time, glimmers of hope after a nightmare start to the year. Talks between Ukraine and Russia are moving at a snail's pace and it's worth taking positive steps with a pinch of salt, but the noises coming from Turkey are as promising as

31-03-2022 09:14 GMT by Craig Erlam

Oil slumps on SPR report, gold consolidates

Oil slides as IEA steps in amid OPEC+ inaction Oil prices are falling heavily on the back of reports the US is poised to announce a substantial draw on the SPR. The withdrawal dwarfs previous moves by the administration, equating to one million barrels per day and 180 million overall, around a third of total reserves.

31-03-2022 09:07 GMT by Craig Erlam

Yen takes a breather

The Japanese yen has settled down after a raucous showing this week. USD/JPY is trading quietly around the 122 line in the European session. Yen stabilizes after wild ride The yen has steadied today, after taking investors on a roller-coaster ride this week.

31-03-2022 06:21 GMT by Kenneth Fisher

Asian markets edge lower after rally

Equities unwinding the “reduced operations” rally Equity markets spent most of last night unwinding the Russian “reduced operations” knee jerk rally, as even the most ardent FOMO bull came to realise the statement didn’t amount to much. Going forward, we can still expect more of these “peace in our time” knee jerk rallies at the slightest hint of progress in peace talks, no matter how tenuous the reasoning. The S&P 500 fell by 0.63%, the Nasdaq slumped by 1.21%, while the Dow Jones eased by 0.

31-03-2022 04:34 GMT by Jeffrey Halley

Oil slides on SPR, gold drifting

Oil tumbles on Biden SPR hopes Oil prices moved sideways overnight, Brent crude rising just 1.25% to USD 112.60, and WTI rising 2.25% to USD 107.45 a barrel. Both contracts modestly unwound the Ukraine knee jerk trade yesterday. In Asia, oil prices have slumped as stories started circulating that US President Biden will announce a multi-month SPR release today that could total 180 million barrels, with suggestions that other IEA members could join in a reserve release after their meeting on Fr

31-03-2022 04:29 GMT by Jeffrey Halley

US dollar index testing support

The US dollar retreated overnight once again, even as Ukraine hopes faded as quickly as they began. US bond yields moved lower once again, undermining the greenback.

31-03-2022 04:19 GMT by Jeffrey Halley

SPR Rumours Send Oil Lower

Biden expected to release oil from reserves Asian markets are being dominated today by the news that US President Biden is apparently considering a material release of oil from its strategic petroleum reserves (SPR), which could total a million barrels a day and potentially total 180 million barrel. That is roughly 1/3rd of the total SPR.

31-03-2022 03:48 GMT by Jeffrey Halley

USD/JPY - BoJ on the defensive

OANDA Senior Market Analyst Craig Erlam talks about USDJPY as the Fed and BoJ head on diverging monetary policy paths.

30-03-2022 16:52 GMT by Craig Erlam

US Close: Stocks edge lower, ADP in-line, Oil pares gains as gas demand continues to fall, Gold rallies as de-escalation optimism fades, Bitcoin hovers

US stocks declined as investors watched March inflation skyrocket in Europe, while waiting for any progress towards a Russia-Ukraine ceasefire deal. Stocks are going to have trouble rallying as geopolitics and inflation risks won't be going away anytime soon.

30-03-2022 15:52 GMT by Edward Moya

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