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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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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Shanghai surprise
It seems appropriate on Oscar’s day that one of the worst films ever made according to critics, Shanghai Surprise, is also dominating Asian markets today. In what was really not much of a Shanghai surprise, Chinese authorities announced over the weekend that Shanghai the city, would enter a two-stage lockdown to stymie surging covid cases and allow mass testing.
28-03-2022 03:16 GMT by Jeffrey Halley
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Week Ahead - An encouraging recovery
Are investors correct to be optimistic? Investors appear remarkably calm at the moment given the level of uncertainty we're facing this year, from inflation to interest rates and even Covid, when you consider China is still embracing lockdowns. Throw soaring commodity prices into the mix and there's plenty of reason to be pessimistic. But when you look at financial markets, that isn't what we're seeing.
25-03-2022 17:51 GMT by Craig Erlam
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Bitcoin - Buoyed by oil and gas claim
Can it break resistance? In the latest twist in the crypto space, Russian lawmaker Pavel Zavalny, claimed the country may consider accepting payment for oil and gas in bitcoin from friendly countries. I mean, this should seriously be taken with a pinch of salt for a number of reasons. Not least Russia's widely known opposition to cryptos.
25-03-2022 16:51 GMT by Craig Erlam
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Market Insights Podcast (Episode 311)
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
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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
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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
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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
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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
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