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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 the global impact from the war in Ukraine, oil markets, and cryptocurrencies. They also discuss what the week ahead has in store for financial markets.

25-03-2022 16:15 GMT by Edward Moya

US Close: OANDA - Stocks have another strong week, Oil turns positive after Aramco site hit, Gold edges lower, Bitcoin higher

US stocks posted another week of gains as investors watch developments in Russia’s war in Ukraine and as Fed rate hike expectations continue to grow. It seems the skyrocketing move higher with commodity prices has taken a break and that has allowed investors a chance to pile back into equities. Geopolitical risks remain very elevated and the rally in equities over the past two weeks is impressive.

25-03-2022 16:02 GMT by Edward Moya

Oil edges lower, gold stabilizes

Oil edges lower but market remains extremely tight Oil prices are slipping for a second day as it's become clear that the EU is not about to agree on a ban on Russian oil imports, no matter how much it would like to follow the actions of the US. While it would be devastating for Russia, it would also be so for European countries as there isn't exactly an abundance of affordable oil out there.

25-03-2022 10:40 GMT by Craig Erlam

Markets stabilize

European stock markets are making modest gains at the end of the week but broadly remain in consolidation, as has been the case throughout the week. Markets have priced in economic risks We appear to have hit a point in which the initial shock has been shrugged off and markets have corrected back to a point where the economic risks are deemed to be priced in. In the absence of any significant developments, equity markets have come to a relative standstill and could remain that way

25-03-2022 10:23 GMT by Craig Erlam

Japanese yen rebounds

The Japanese yen has managed to stem the bleeding today, as USD/JPY is trading at 121.66, down 0.54%. USD/JPY climbed almost 1% on Thursday, breaking above the 122 line for the first time since December 2015. Yen pummelled by rate differential March has been miserable for the Japanese yen, which is down a staggering 5.83% this month.

25-03-2022 08:56 GMT by Kenneth Fisher

Oil rising on new supply risks

OANDA Senior Market Analyst Craig Erlam discusses why oil prices are rising once more and whether they can continue to do so.

25-03-2022 08:27 GMT by Craig Erlam

German business climate dives, euro shrugs

German Ifo Index slides The week wrapped up on a sour note out of Germany, as the Ifo Business Climate Index fell sharply in March. The headline reading came in at 90.8, down from 98.5 in February.

25-03-2022 07:13 GMT by Kenneth Fisher

Pound dips as retail sales contract

The British pound is slightly lower on Friday after disappointing numbers from retail sales and consumer confidence. UK retail sales, consumer confidence fall Consumers held tighter to their pocketbooks in February, as retail sales declined. The headline figure showed a decline of 0.3% MoM, after a gain of 1.9% in January.

25-03-2022 05:53 GMT by Kenneth Fisher

Oil declines, gold edges upwards

Oil prices slide overnight Oil prices slid overnight after another very volatile day of price action with very wide ranges. Brent crude finished 2.60% lower at USD 118.20 a barrel, and WTI fell 2.75% to USD 111.30 a barrel.

25-03-2022 04:54 GMT by Jeffrey Halley

Currency markets remain in holding pattern

Currency markets looking for direction The currency space remained on the sidelines overnight, content to wait and watch for developments elsewhere for its next directional cues. The dollar index rose just 0.16% to 98.77.

25-03-2022 04:47 GMT by Jeffrey Halley

Asia markets mixed despite NY gains

Asian equities ignore New York to price in weekend risk Asian equities are having a mixed day once again, despite another sharp rally in New York overnight. The reasoning behind the rally in New York is tenuous, most especially, the EU declining to sanction Russian energy imports.

25-03-2022 04:37 GMT by Jeffrey Halley

Japan jaw bones USD/JPY Lower

Both Bank of Japan Governor Kuroda, and Minister of Finance Suzuki, have been on the wires this morning with the usual watching FX closely, FX stability important rhetoric. It is the first time in many years they’ve had to resort to this playbook as USD/JPY surged above 122.00 overnight as the US/Japan rate differential widened. The yen has been one of the largest casualties of a hawkish Federal Reserve, even as the rest of the currency space remains in fence-sitting denial.

25-03-2022 04:22 GMT by Jeffrey Halley

Gold - Will it soon test record highs again?

Is there still great demand for safe havens and inflation hedges? After a period of consolidation, gold prices have been rising again in recent days, hitting a 10-day high in the process. This comes even as central banks signal an aggressive tightening cycle this year to combat soaring inflation and risk appetite remains healthy as Ukraine and Russia continue to engage in negotiations. Clearly, there is still plenty of uncertainty and unease in the markets and while central banks are trying t

24-03-2022 18:59 GMT by Craig Erlam

Brent Crude - Interesting areas of support

Will corrections be shallow? Oil prices have been rising once again over the last week as the EU has considered banning Russian imports and an outage on a pipeline that runs through the country reduced output by around one million barrels per day. Sanctions imposed by the West have already caused significant disruption to Russian oil exports which could total around three million barrels per day, on top of the one million coming through the country from Kazakhstan. In an already very tight ma

24-03-2022 17:36 GMT by Craig Erlam

Oil declines, gold rallies as sanctions hit Russian bullion holders

Oil prices drop Crude prices are declining as energy traders expect that after all the EU leaders, NATO, and G7 meetings, Russian energy will not be sanctioned anytime soon. Mixed European manufacturing data and the snapping of robust factory activity in the US did not do much for changing the opinion of how the crude demand outlook will be in the next few months. The focus for oil remains with the war in Ukraine. Some Russian military advances have ground to a halt, which is complicating Put

24-03-2022 15:06 GMT by Edward Moya

Stocks rally after decent data with focus on Ukraine, bitcoin benefits from risk-on rally

US stocks rose as investors assess the impact of the latest round of sanctions against Russia, mostly impressive US data, and as oil prices edge lower. Wall Street knows that the US economy is still looking pretty good but they are trying to figure out how aggressive the Fed will be with tightening, how high oil prices will get, and will the war in Ukraine be over in a few months' time.

24-03-2022 15:00 GMT by Edward Moya

Dollar/Yen punches above 122

Yen slides close to 1 per cent The US dollar is pummelling the Japanese yen, as USD/JPY trades at 122.31 in the North American session, up 0.97% on the day. USD/JPY hasn't been at these levels since December 2015.

24-03-2022 14:34 GMT by Kenneth Fisher

Oil steadies, gold has firm support

Oil stabilises as OPEC expresses concerns Oil prices are a little flat after spiking higher on Wednesday in response to apparent storm damage on the Caspian Pipeline Consortium (CPC) that will affect around a million barrels per day from Kazakhstan for up to a couple of months. Coming at a time when the market is already extremely tight, it could ensure prices remain higher and vulnerable to further increases. OPEC has reportedly expressed its unease to the EU regarding a proposed ban on Russi

24-03-2022 12:17 GMT by Craig Erlam

Recovery losing momentum

It's been a relatively slow start to trading in equity markets as we approach the end of the week, with stocks losing the momentum that's driven the strong recovery in recent weeks. The recovery has arguably been overdone considering the invasion of Ukraine is ongoing and commodity prices are at sky-high levels and still prone to surges. But the fact that Ukraine and Russia remain in negotiations seems to be enough to keep investors on board. The threat of very high inflation and rapid rate hi

24-03-2022 12:14 GMT by Craig Erlam

Swiss franc steady after SNB meeting

In this topsy-turvy new world of ours, it's reassuring to know that some things stay the same. For example, the Swiss National Bank, which maintained its expansionary monetary policy at today's policy meeting.

24-03-2022 11:28 GMT by Kenneth Fisher

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