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Risk aversion providing support to US dollar The US dollar held onto most of yesterday’s early-session gains overnight, boosted by a rise in US yields in New York, as investors continue to pour haven flows into the greenback. The huge rallies in commodity prices are also supportive, with a large portion of that international trade priced in US dollars. The dollar index finished 0.74% higher at 99.24 overnight, with some profit-taking pushing it slightly lower to 99.16 in Asia as the news ticke

08-03-2022 04:16 GMT by Jeffrey Halley

Asian markets calm but vulnerable

Asian equities remain fragile as oil rises today Overnight, Wall Street endured a torrid session as it played catch-up to the sell-off seen in Asia earlier in the day. Fears over the surge in commodity prices torpedoing world growth, and profits, continue to weigh on equity markets, which came into 2022 at juicy valuations, thanks to two years of central bank largesse.

08-03-2022 03:50 GMT by Jeffrey Halley

The eye of the hurricane

Equity markets settle down A sense of calm has returned to Asia this morning, thanks to the news headline tickers staying quiet about anything Ukraine, energy or otherwise commodity-related. Overnight, US markets played catchup to yesterday morning's carnage in Asia, but although Wall Street had an ugly day, they didn’t add anything new to the story. That state of affairs is unlikely to last though and one senses we are in the eye of the hurricane, a period of calm before the winds return o

08-03-2022 03:40 GMT by Jeffrey Halley

Oil skyrockets on Russia oil ban talks, gold nearing record levels

Oil pares huge gains Crude prices skyrocketed to a 13-year high at the start of the week as energy traders were thinking the war in Ukraine could lead to an even tighter oil market as the US tries to convince the Germans to agree upon a ban of oil imports from Russia. After hitting the USD 137 level, Brent crude oil prices have settled back to the USD 120 region as Germany resists cutting off essential Russian energy supplies. Oil prices over USD 100 throughout the summer will become a bigger

07-03-2022 15:53 GMT by Edward Moya

Stocks lower as surging oil prices threaten growth prospects, Kohl’s investor day disappointment, Bitcoin back to being a risky asset

US, European stocks fall as oil prices skyrocket US stocks declined as surging commodity prices continued to add to worry that economic growth prospects will take a big hit as the Ukraine uncertainty persists. The crippling effect of oil prices above USD 130 would send many European economies into a recession and that sent major European stock indexes into bear market territory. Long-term investors however are growing confident that most of the exposure risk for European banks with the Russia

07-03-2022 15:50 GMT by Edward Moya

NZ dollar slips, mfg. sales next

The New Zealand dollar has started the week in negative territory. NZD/USD is down 0.50%, and is trading at 0.6825 in the North American session. The currency enjoyed its best week since August 2021, with gains of 1.75%.

07-03-2022 12:48 GMT by Kenneth Fisher

Oil pares gains, gold passes USD 2000

Oil prices remain high but give back huge early gains Oil prices were up more than 17% at one stage after the open but that has been pared right back as the day has progressed, with Brent now up 1.5% around USD 120 a barrel. In a sign of how ridiculous the situation is right now, that's coming as quite a relief compared to how bad it was looking at one stage. The market has shown its vulnerable side now though and it's quite concerning.

07-03-2022 12:02 GMT by Craig Erlam

Panic start to the week

European markets entered bear market territory at the start of the week as panic set in at the open in response to reports of the US looking to impose a ban on imported Russian oil. To make matters worse, the reports appeared to suggest Europe is considering similar action as well which would be a monumental blow for Russian producers and the economy. It would also be a massive problem for Europe as there isn't exactly an abundance of alternatives out there right now. The initial reports sent

07-03-2022 11:59 GMT by Craig Erlam

Aussie coming off sizzling week

Aussie rally ends The Australian dollar has taken a breather, as it trades just slightly below the 0.74 line. AUD/USD has posted small losses on Monday, after posting impressive gains of 2% last week. The war in Ukraine has dampened risk appetite, which in normal times would hurt the risk-sensitive Australian dollar.

07-03-2022 09:26 GMT by Kenneth Fisher

Euro decline continues

The euro is coming off a nasty week and has continued its downswing on Monday. EUR/USD fell 3% last week and the pair has dropped 0.9% on Monday, to 1.0830.

07-03-2022 05:56 GMT by Kenneth Fisher

Oil powers higher, gold hits USD 2000

Oil prices, I don’t know what to say…… Panic has been seen again in oil markets in Asia today, with Brent crude spiking to nearly USD 140 on the open before settling at USD 128.00 a barrel. A combination of toxic factors over the weekend has combined to induce more panic buying in Asia.

07-03-2022 04:36 GMT by Jeffrey Halley

US dollar climbs as risk appetite sinks

US dollar rises on geopolitical/economic nerves The US dollar rose into the end of the week on Friday as investors loaded up on weekend risk protection. Nothing has changed over the weekend to alter the need to hold US dollars; if anything, with the US seemingly about to ban Russian oil imports, and no good news from Ukraine, the situation has hardened. The dollar index has risen by 0.57% this morning to 99.06, but the US dollar pain has been unevenly spread.

07-03-2022 04:27 GMT by Jeffrey Halley

Asian markets slide as oil surges

Oil prices sink Asian equity markets The massive oil-price spike this morning, has sunk equity markets across Asia, coming after a weak finish on Friday in New York despite a monster Non-Farm Payrolls print. With most of Asia being massive net energy importers, it is hard to construct a bullish case tight now, and with the stagflationary wave coming sure to hit Asia hard, any rallies will probably be measured in days and not weeks. On Friday, US equities finished on a weak note as markets watc

07-03-2022 04:09 GMT by Jeffrey Halley

Oil price spike crushes Asian markets

Oil surges on talk of banning Russian crude Oil prices are 8.50% higher this morning in panicked early buying in futures markets after weekend reports that the US was looking at completely banning Russian oil imports, and the Russians themselves inserted some hefty last-minute demands on the US in the small print of the almost-finished Iran nuclear deal. With the latter in jeopardy, and the former sure to lead to higher domestic prices, it is no surprise that Asian traders, a region heavily rel

07-03-2022 03:57 GMT by Jeffrey Halley

Market Insights Podcast (Episode 303)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. It's all about oil today with Brent crude touching $140.00 a barrel in early Asia before retreating to $129.00, a 10% gain. We ask what is behind the explosion in prices on the back of news over the weekend.

07-03-2022 03:44 GMT by Jeffrey Halley

EUR/USD - Further pain to come?

Sell-off accelerates in risk-averse trade The decline in the EURUSD pair has really accelerated over the last week after the West imposed severe sanctions against Russia that will have implications for the global economy, in particular Europe. Sanctions rarely work one way but they are designed to ensure the maximum and majority pain is imposed on the recipient country. Unfortunately for Europe, the recipient country is also an important trading partner and its main source of natural gas among

04-03-2022 15:18 GMT by Craig Erlam

Market Insights Podcast (Episode 302)

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 War in Ukraine, what does the latest nonfarm payroll report does to Fed rate hike expectations, and recapped what happened with energy markets. They also discuss what the week ahead has in store for financial markets.

04-03-2022 13:04 GMT by Edward Moya

Week Ahead - Enormous uncertainty

It's been another week of significant volatility in financial markets, one in which European indices edged closer to bear market territory, oil prices hit a 10-year high around $120, and safe-haven gold came close to $2,000.

04-03-2022 12:58 GMT by Craig Erlam

Commodities and Cryptos: Oil higher, Gold shines, Bitcoin lower after Nuclear plant seized

Oil Crude prices rallied after Russian troops seized control of Europe’s largest nuclear power plant in Southeastern Ukraine. A fire at the nuclear site was extinguished and early reports were that there was no immediate indication of a rise in radiation levels. Yesterday, hopes were growing that a third round of talks could happen and lead to a ceasefire and later that night Russia forces continued to make gains. Oil prices has been a one-way market, but the potential return of Iranian crud

04-03-2022 12:48 GMT by Edward Moya

NFP React: Investors shrug off strong payrolls and focus on War in Ukraine and inflation, Strong Payroll gain but soft wages

US stocks might be less exposed to the war in Ukraine, but the hit to global growth and inflation impact can and will eventually drag down the US economy. Equities declined after Russia seized Europe's largest nuclear plant. It does not seem like the Kremlin will be backing down anytime soon and that is leading to widespread selling of global equities. In the past 24 hours, financial markets went from hoping of talks of a potential ceasefire to seeing the Russians seize a nuclear plant, which

04-03-2022 12:47 GMT by Edward Moya

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