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Interventions on the way? The rally in USD/JPY has massively accelerated in recent weeks as markets and the Fed have become increasingly hawkish on US interest rates. This has happened at a time when many central banks are heading in that direction, even the ECB which at one point looked years away from interest rates above 0%. While they haven't yet conceded on the kind of rate hikes that the markets are pricing in, they're certainly heading in that direction. The BoJ is the outlier here.

29-03-2022 12:03 GMT by Craig Erlam

Euro surges on Ukraine talks

It's been a dramatic afternoon, as EUR/USD has rocketed in the North American session, gaining 1.16%. The pair is currently trading just above the 1.11 level. Euro flies as peace talks show progress The euro has been showing limited movement for a week, which led me to caption Monday's post as, "Euro looking for direction".

29-03-2022 09:49 GMT by Kenneth Fisher

Oil edges higher, gold eases

Oil higher as political OPEC+ prepares to continue gradual output increases Oil prices are a little higher today, slightly paring heavy losses on Monday sustained on the back of intensifying lockdowns in China as the government has enacted harsh measures to contain the Covid outbreak. The country remains committed to its zero-Covid policy which will ultimately weigh on crude demand in the near term.

29-03-2022 08:46 GMT by Craig Erlam

Ceasefire talks lift stock markets

Stock markets across Europe are rallying on Tuesday, buoyed by positive noises coming from Turkey where Ukraine and Russia may be nearing a ceasefire agreement. While there are reportedly still plenty of gaps in the demands of the two teams, there appear to have been compromises found on some big issues including Ukraine's previous ambitions of NATO membership. The next couple of days could be crucial but the signs are promising which we're seeing reflected in the markets today. There has been

29-03-2022 08:39 GMT by Craig Erlam

Aussie shrugs despite strong retail sales

Australian retail sales outperform Australian retail sales posted a 1.8% gain for a third straight month. The February release beat the consensus estimate of 1.0% and is a further indication that the economic recovery continues. The Australian dollar has sparkled in March, gaining 3.20%.

29-03-2022 07:54 GMT by Kenneth Fisher

Japanese yen settles down

The Japanese yen has stabilized on Tuesday, after starting the week with sharp losses. USD/JPY is trading at 123.60 in the European session. Yen flirts with 125 line The yen took investors on a wild ride on Monday.

29-03-2022 06:14 GMT by Kenneth Fisher

Oil sinks on China concerns, gold tumbles

China worries push oil lower An already nervous oil market saw prices slump overnight as a lack of two-way liquidity in futures markets exacerbated China’s consumption outlook as the lockdown of Shanghai was tightened. Brent crude fell by 8.20% to USD 109.50, while WTI fell by 8.15% to USD 103.45 a barrel.

29-03-2022 04:45 GMT by Jeffrey Halley

US yields support dollar strength

US yields continue underpinning US dollar strength with the dollar index rising by 0.32% to 99.12 overnight, where it remains in Asia today. Weakness in the yen also helped lift the dollar index which traded as high as 99.36 intraday.

29-03-2022 04:34 GMT by Jeffrey Halley

Lower oil lifts Asian equities

New York had a mixed session overnight. Energy and financial sectors suffered as oil prices fell and the US yield curve inversions continued.

29-03-2022 04:28 GMT by Jeffrey Halley

China lockdowns sink oil

China’s Covid-19 lockdown of Shanghai saw oil prices slump overnight, as investors fretted about more sweeping containment measures, which would negatively impact China's energy consumption. Brent crude and WTI plummeted over 8.0% in overnight trading, although the rot had started earlier in the day in Asia.

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

US Close: Wild start on Wall Street, Biden’s Tax Fantasy, Apple’s Warning, China Lockdowns send oil lower, King Dollar sends gold lower, Bitcoin breakout

It’s been a bumpy start to the trading week as bond yields remain elevated as inflation fears continue to chip away whatever solid footing remains for the US economy. It is not 1970s style inflation yet, but eventually risk appetite will struggle as the robust consumer demand softens. Stocks have been resilient and have been somewhat supported on hopes that both the war in Ukraine won’t be a long one and that a lot of the inflation we are currently seeing will ease in the second half of the yea

28-03-2022 17:57 GMT by Edward Moya

Oil slumps ahead of OPEC+, gold dips

Oil slides ahead of OPEC+ meeting Oil prices are down more than 7% at the start of the week, wiping out almost all of last week's gains, as ceasefire talks and Chinese lockdowns take some of the pressure out of the market. Prices have become very elevated and are susceptible to further spikes as Europe looks to pivot away from Russia and sanctions bite. The fact that Russia and Ukraine are holding negotiations doesn't guarantee we'll see any substantial progress as we've seen all too often in

28-03-2022 13:11 GMT by Craig Erlam

A decent start to the week

European markets are starting the week on a positive note, with indices up close to 1% on the back of softer commodity prices and confirmed talks between Ukraine and Russia. Broadly speaking, stock markets remain in a consolidatory phase and have been for almost a couple of weeks but they've certainly received a mild boost at the start of the week. Whether that can be sustained or not may well depend on whether we can see progress in talks this week. Naturally, further talks between the two co

28-03-2022 13:05 GMT by Craig Erlam

Aussie dips ahead of retail sales

Aussie slips below 0.75 line After a strong week, the Australian dollar has reversed directions and dropped below the 0.75 line on Monday. Investors will be keeping an eye on Australian retail sales, which will be released on Tuesday.

28-03-2022 10:03 GMT by Kenneth Fisher

Euro looking for direction

The euro has shown limited movement over the past several days and that trend has continued on Monday. EUR/USD is almost unchanged, trading at 1.0985 in the European session.

28-03-2022 07:37 GMT by Kenneth Fisher

Dollar yen - up, up and away

The misery continues for the Japanese yen, which has plummeted at the start of the week USD/JPY is trading at 124.62 in the European session, up 2.06%. BoJ move sinks yen USD/JPY broke above the symbolic 125 line in the European session, as the yen is seeing all red today. The yen was hammered after the BoJ rushed to defend its yield target today, making two offers to buy unlimited 10-year JGBs at 0.25%, an implicit ceiling for 10-year bonds.

28-03-2022 05:46 GMT by Kenneth Fisher

Oil falls on China fears, gold eases

China worries push oil lower Oil prices consolidated their week’s gain on Friday, Brent crude closing at USD 119.25, and WTI closing at USD 112.65 a barrel. The Shanghai rolling lockdowns have prompted some consumption fears in China and pushed oil prices lower today.

28-03-2022 04:11 GMT by Jeffrey Halley

US dollar rises in Asia

Yen, euro start week with losses The US dollar moved sideways in New York on Friday, the dollar index finishing almost unchanged at 98.80. However, with the Bank of Japan standing in the JGB market today to cap rises in yields the dollar index has risen sharply, boosted by a weaker yen and euro.

28-03-2022 03:34 GMT by Jeffrey Halley

Asian equity heavyweights edge lower

Shanghai lockdown weighs on Asian markets With some exceptions, Asian equities are edging lower today, mostly driven by the rolling Shanghai covid lockdowns. US equities finished slightly higher on Friday, despite a rise in US yields, but futures on the S&P500, Nasdaq and Dow Jones have eased by around 0.25% this morning in sympathy. The Nikkei 225 is down 0.35%, with the South Korean Kospi just 0.10% higher.

28-03-2022 03:24 GMT by Jeffrey Halley

Market Insights Podcast (Episode 312)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. In today's episode, Asian markets were sprung a Shanghai Surprise (Not the Madonna movie) as Chinese authorities announced a rolling lockdown of the commercial heart of China to manage its omicron outbreak. We look at the impact on Asian markets today, notably equities and oil, as well as discuss China's "Covid-zero" policy.

28-03-2022 03:18 GMT by Jeffrey Halley

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