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Aggressive Powell boost dollar A very hawkish Jerome Powell overnight lifted US yields across the curve and sent the US dollar higher, aided by some Ukraine tailwinds as negotiations between the warring states went quiet. The dollar index rose 0.25% to 98.47, adding another 0.31% to 98.79 in Asia as the Japanese yen slumped.

22-03-2022 05:49 GMT by Jeffrey Halley

Powell backpedals faster

Powell says Fed could become more aggressive Fed Chairman Jerome Powell set the cat amongst the pigeons overnight stating that the Federal Reserve could raise interest rates more aggressively to tame inflation if needed, not ruling out 0.50% increases if necessary. That is quite the volte-face from three months ago and really isn’t helping the feeling that the Fed is well behind the curve vis-à-vis inflation.

22-03-2022 05:13 GMT by Jeffrey Halley

EUR/USD - Any hope of a reversal?

Or will the downtrend continue? The euro has rebounded well against the dollar over the last week as risk appetite has modestly improved but it's already running into some trouble. The pair has been in a long-term downtrend and we could soon see if that is set to continue. It has run into resistance around 1.1150 where prior support and resistance coincides with the 50 fib level - February highs to March lows. This also coincides with the mid-point of the descending channel which altogether

21-03-2022 18:13 GMT by Craig Erlam

US Close: Powell ready for super sized hikes, Inversion focus as bonds selloff, Boeing 737 plane crashed in Southern China, Oil rises as calls for EU to ban Russian energy grow, Gold sideways as yields surge, Bitcoin holds $41k

US stocks had an uninspiring start to the trading week after Fed Chair Powell delivered another round of hawkish comments and as commodity prices surged on growing expectations the EU could consider an oil embargo on Russia this week. The harsh reality of faster rate rises is setting in for some traders and that could eventually lead to a taper tantrum which might happen alongside stagflation. Monetary policy is still accommodative for now, but that could quickly change if the Fed delivers a c

21-03-2022 16:34 GMT by Edward Moya

Euro drifting on lack of data

It has been a quiet start to the week, as the euro trades at 1.1040 in the North American session. There are no tier-1 events out of the eurozone or the US, so we can expect limited movement from EUR/USD for the remainder of the day. The US dollar had a rough week, as it retreated against the majors, with the exception of the Japanese yen.

21-03-2022 12:59 GMT by Kenneth Fisher

Dollar/yen closing in on 120 level

It was another dreadful week for the Japanese yen, which fell 1.60%. USD/JPY climbed as high as 119.39 on Friday, its highest level since February 2016.

21-03-2022 10:29 GMT by Kenneth Fisher

Cad. dollar posts best week of 2022

The Canadian dollar is coming off its best week of the year, in which it gained 1.14%. The currency has posted slight gains on Monday, dropping below the 1.26 line for the first time since late January. Retail sales rebound The Canadian dollar has extended its rally on Monday, after posting four straight winning days.

21-03-2022 08:10 GMT by Kenneth Fisher

Oil edges up, gold under pressure

Oil prices spike higher once again Oil prices rose slightly in New York on Friday, with volatility modest by recent standards. Brent crude finished 0.85% higher at USD 107.80 a barrel, and WTI rose 1.70% to USD 105.35 a barrel. In Asia, however, prices have spiked higher once again, continuing a trend we saw all last week, where Asia bought oil no matter what the price action was in New York.

21-03-2022 06:30 GMT by Jeffrey Halley

Currency markets are ranging

Currency markets are ranging Currency markets had another choppy session on Friday, but ultimately, remained content to continue range trading. The US dollar rallied somewhat, despite US yields falling.

21-03-2022 05:53 GMT by Jeffrey Halley

Asian markets edges higher

Asian equities are cautiously higher Wall Street had another exuberant session on Friday, pricing in the worst of the Fed being out of the way, and expectations of progress in a resolution of the Ukraine-Russia conflict. Asia, with one eye on oil prices this morning, is somewhat more cautious.

21-03-2022 05:42 GMT by Jeffrey Halley

Asia awaits geopolitical developments

Asian markets are cautiously higher this morning as the weekend produced lots of noise, but little of real actionable substance. US markets continue to price in an almost certain Ukraine-Russia peace agreement and seem to be quickly putting an expectedly hawkish FOMC behind them.

21-03-2022 05:26 GMT by Jeffrey Halley

Market Insights Podcast (Episode 309)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. This week we start with a roundup of price action in Asia where China held its prime lending rates unchanged, which was surprising, given how aggressively they had talked up the stockmarket and stimulus last week. Oil is never far from everyone's lips, and Asia, once again, has bought black gold aggressively today.

21-03-2022 05:22 GMT by Jeffrey Halley

Market Insights Podcast (Episode 308)

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 Fed's first rate hike since 2018, China's COVID situation, and oil markets. They also discuss what the week ahead has in store for financial markets.

18-03-2022 21:58 GMT by Edward Moya

GBPUSD - Drifts lower after Fed and BoE

OANDA Senior Market Analyst Craig Erlam talks about how GBPUSD is trading after the Fed and BoE both raised interest rates.

18-03-2022 19:32 GMT by Craig Erlam

Week Ahead - Accelerated tightening

The global economy is facing an incredible amount of uncertainty at the moment which is continuing to drive the volatility we're seeing in financial markets. Whether it's uncertainty around inflation, interest rates, commodity prices, Covid or Ukraine, the growth outlook has become extremely unclear and is constantly subject to significant revisions.

18-03-2022 15:27 GMT by Craig Erlam

Commodities and Cryptos: Oil choppy, Gold lower, Bitcoin steady

Oil Crude prices are consolidating as energy traders process the IEA’s 10-point plan to reduce oil consumption and await to see if any progress in peace talks between Ukraine and Russia can be made. Oil will remain a volatile trade in both directions, but the geopolitical risks don’t seem like they will be going away anytime soon, so $100 oil is likely here to stay.

18-03-2022 12:13 GMT by Edward Moya

Mid-Market Update: Stocks fluctuate awaiting geopolitical updates, Hawkish Fed Speak

The end of another long week has Wall Street bracing for another rollercoaster ride as investors digest President Biden’s crucial call with Xi and await to see if any possible pathways emerge for ending the conflict in Ukraine, all while roughly $3.5 trillion of single-stock and index-level options expire. The days of seeing all the sectors in S&P 500 being green appear to be long gone. It could be a choppy ride as investors continue to rotate out of financials as the Treasury curve flattener t

18-03-2022 12:11 GMT by Edward Moya

Oil gains ground, gold edges lower

Oil higher as OPEC+ falls further short of targets In a further sign that calls for OPEC+ to raise output further are a wasted effort, IEA reported that compliance with pandemic-agreed cuts rose to 136% last month, up from 129% in January. In other words, the group is not only failing to hit its quotas, it's missing them by an estimated more than one million barrels per day.

18-03-2022 10:11 GMT by Craig Erlam

Caution into the weekend

Investors are opting for caution at the end of another strong rebound week, with equity markets a little lower as we near the close. The rebound we've seen over the last couple of weeks has been nothing short of extraordinary. So much so that I don't think it's unfair to suggest we're seeing an unhealthy amount of complacency creeping into the markets. I'm not sure what exactly is more appealing about equity markets right now.

18-03-2022 10:07 GMT by Craig Erlam

Oil powers upwards, gold declines

Oil prices spike higher once again Oil prices, like so many asset classes, went their own way overnight. Improving sentiment around markets being ignored as oil stage another massive rally in thin liquidity conditions.

18-03-2022 04:47 GMT by Jeffrey Halley

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