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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

Market Insights Podcast (Episode 310)

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the latest moves in oil and gas, and the UK Spring Statement and inflation data.

24-03-2022 07:55 GMT by Craig Erlam

British pound stabilizes at 1.32

The British pound has shown some volatility this week but is flat on Thursday. In the European session, GBP/USD is trading at the round number of 1.3200. The currency markets have been taking a breather and sticking to the sidelines.

24-03-2022 07:35 GMT by Kenneth Fisher

Euro holds steady at 1.10

EUR/USD is calm, trading on both sides of the 1.1000 level. In the European session, the currency is at 1.0988. Roubles only, please The euro continues to trade in choppy waters, unable to maintain any momentum due to the uncertainties over the war in Ukraine.

24-03-2022 06:30 GMT by Kenneth Fisher

RUB-bed the wrong way

Putin shakes up oil markets Energy markets were shaken overnight as Russian President Putin directed that payments for Russian natural gas by “unfriendly nations” be paid for in roubles (RUB), giving government officials and the central bank a week to come up with a mechanism. As telegraphed yesterday, Russia also announced the full closure of the Caspian Pipeline Consortium’s Black Sea terminal because of “storm damage.” The rouble natural gas announcement sent European gas benchmarks 30% hig

24-03-2022 05:54 GMT by Jeffrey Halley

Asian markets mixed after Wall Street slips

Asian equities mixed after a torrid New York session Overnight, sharply higher energy prices, and a procession of hawkish Federal Reserve officials on the wires, saw the gains of the previous day mostly wiped out, despite yields falling. Energy markets were turbulent overnight as Russian President Putin directed that payments for Russian natural gas by “unfriendly nations” be paid for in roubles, giving government officials and the central bank a week to come up with a mechanism. The S&P 500

24-03-2022 05:48 GMT by Jeffrey Halley

Oil surges, lower US yields boost gold

Oil prices soar overnight Russian President Putin shocked the energy markets on Wednesday when he directed that payments for Russian natural gas by “unfriendly nations” must be paid for in roubles. The announcement and the full closure of the Caspian Pipeline Consortium’s (CPC) pipeline by Russia sent European natural gas prices 30% higher, and also aggressively lifted crude prices, helped by lower official US Crude Inventories.

24-03-2022 05:35 GMT by Jeffrey Halley

Currency markets looking for direction

Currency markets remain in a holding pattern Currency markets had another night of quite wide ranges, but ultimately closed once again not far from where they started. The currency space appears to have moved to the sidelines, for now, content to wait and watch for developments elsewhere for its next directional cues.

24-03-2022 05:22 GMT by Jeffrey Halley

Oil soars, gold looks for direction

Oil surges amid further supply issues Oil prices are more than 5% higher after Russia confirmed that oil exports via the Caspian Pipeline Consortium (CPC) will fall by around a million barrels a day for up to two months as a result of storm damage. This comes at a time of significant tightness in the market and could contribute to further increases in the price in the coming weeks. That is of course unless other producers step up and utilise the spare capacity in order to prevent oil prices fr

23-03-2022 12:56 GMT by Craig Erlam

Stocks slip as oil and gas surge

European stocks have posted losses of around 1% on Wednesday, paring some of the gains we've seen over the last couple of weeks.

23-03-2022 12:52 GMT by Edward Moya

Mid-Market Update: Stocks lower as soft landing fantasy seems unlikely, Energy prices jump, Gold rallies, Bitcoin Hovers

US stocks declined as the harsh reality sets in that the Fed most likely won’t be able to navigate a soft landing as geopolitical risks will continue to keep upward pressures on prices and force the Fed into a difficult decision later this year. The Fed will either have to tighten policy so much that it sends the economy into a recession, or it will once again have to flip flop and prevent policy from becoming too restrictive. Wall Street's resilience for risky assets can't handle a flip-flopp

23-03-2022 12:48 GMT by Edward Moya

Euro dips below 1.10 level

The euro has edged lower on Wednesday and is trading just below the 1.10 level, a psychologically important line. A tale of two central banks? The Federal Reserve came out swinging this week, reiterating its pledge to do everything it can to wrestle sizzling inflation back to lower levels. Fed Chair Powell said that inflation was putting the recovery at risk and he was prepared to raise interest rates by 0.50% increments if needed.

23-03-2022 12:43 GMT by Kenneth Fisher

Japanese yen steadies

March has been a sea of red for the Japanese yen, as USD/JPY has soared 5.04% this month. The currency is steady on Wednesday, after breaking above the 121 line earlier in the day. Rate differential weighing on yen The yen took a double-punch in the ribs on Tuesday, as USD/JPY jumped 1.14%.

23-03-2022 10:55 GMT by Kenneth Fisher

Pound slips as inflation surges

UK inflation outperforms The markets were bracing for inflation to accelerate in February, and the readings were even higher than expected. CPI hit 6.2% YoY, a new 30-year high.

23-03-2022 09:10 GMT by Kenneth Fisher

Oil surges, gold eases

Oil prices soar overnight Oil markets are a mess of volatility at the moment, along with my oil data feeds, as Brent crude and WTI endured another day of very choppy trading in a very wide intraday range. Brent crude gave back all its intraday gains, even after API Crude Inventories fell, to finish 1.85% lower at USD 114.50 a barrel.

23-03-2022 04:28 GMT by Jeffrey Halley

Asian equities follow Wall Street higher

Asian markets rally The perpetual armies of bullish investors dominated New York overnight, and also key fast-money markets like Japan today, as they wishfully priced there was no more bad news to come from Eastern Europe or the Fed. That sparked an “efficient market pricing” rally that saw New York record some impressive gains, with “value” the winner, over growth.

23-03-2022 04:12 GMT by Jeffrey Halley

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