All Articles

Stock markets are back in the red again on Thursday, as we await further talks between delegations from Ukraine and Russia. Wednesday's rebound was predictably short-lived against the backdrop of reports of intensifying attacks by Russian troops as they close in on cities across the country. The sanctions that have been levelled at Russia since the invasion started have been far more severe than many expected and we're learning more about their devastating impact with every passing day. While

03-03-2022 15:32 GMT by Craig Erlam

Commodities and Cryptos: Oil weakens on Iranian supply prospects, Gold higher, Bitcoin rally exhausted

Oil Crude prices are ping ponging back and forth as energy traders remain focused on the fallout from Russia’s invasion of Ukraine and as Iran inches closer to a nuclear deal. In early trade, WTI crude rallied to the highest levels since 2008, after the Russian military captured the Ukrainian city of Kherson. Expectations for another round of Russia-Ukraine talks led to some hope that a possible ceasefire could be agreed upon but talks seem to have been pushed into the beginning of next week.

03-03-2022 15:06 GMT by Edward Moya

US Close -Stocks edge lower, ISM Services Index disappoints, No surprises from Day 2 of Powell

US stocks went on a bumpy ride as investors continue to trade off every incremental update with the Ukraine-Russia conflict and following a wrath of mixed US economic data. Stocks were under pressure early after a French official said President Macron’s conversation with Vladimir Putin did not provide any reason to be optimistic that we could see a de-escalation/ceasefire.

03-03-2022 15:06 GMT by Edward Moya

New Zealand dollar edges higher

The New Zealand dollar has posted small gains on Thursday, as NZD/USD has pushed above the 0.68 line in the North American session. New Zealand is hugely dependent on its export industry, and the Covid pandemic has taken its toll on exports, as global demand has fallen. However, with the worst of Covid hopefully behind us, global demand has picked up, which bodes well for New Zealand's economy.

03-03-2022 11:09 GMT by Kenneth Fisher

Australian dollar shrugs after strong data

PMIs, trade balance power higher Australia posted strong data earlier in the day, but the Australian dollar remains almost unchanged as it trades around the 0.73 level. Services PMI jumped to 57.4 in February, up from 46.6 in January. It was a similar story for Construction PMI, which climbed to 53.4, up from 45.9.

03-03-2022 06:02 GMT by Kenneth Fisher

Oil keeps climbing, gold steady

Oil rises once again in Asia Despite the noise in equity and bond markets overnight, the panic in oil markets continues with prices rallying aggressively once again. Brent crude leapt 6.80% higher to USD 114.50 a barrel overnight, while WTI rallied 4.75% to USD 111.40 a barrel.

03-03-2022 05:02 GMT by Jeffrey Halley

Currency markets are mixed

Euro steady, sterling rises The US dollar mostly retreated overnight as Fed rate hike expectations were pared for March and investors hoped for progress in the Ukraine-Russia meeting expected today. The dollar index eased slightly by 0.04% to 97.36, but with oil prices on fire in Asia today has resumed its ascent, climbing 0.16% to 97.51.

03-03-2022 04:48 GMT by Jeffrey Halley

Asian equities are cautiously higher

Asian markets eye Ukraine-Russia talks Overnight, news that a second Ukraine-Russia meeting in sunny Belarus sparked a relief rally in equities markets, which was given more momentum as Jerome Powell signally the Fed would only hike 0.25% this month, instead of 0.50%. As I said previously, peak-Ukraine FOMO is strong in equity markets right now, and the outcome of today’s meeting will dictate entirely whether this is yet another sucker’s rally.

03-03-2022 04:19 GMT by Jeffrey Halley

Powell sets the record straight

Powell says March hike to go ahead Jerome Powell sparked more volatility in markets overnight, as if we needed more, by quite clearly stating that the Federal Reserve would not be deterred from hiking at this month's FOMC meeting, despite uncertainty surrounding the Ukraine situation. His remarks suggested a 25 basis point hike was coming, taking 50 bps off the table. His remarks sparked more tumult in bond markets, which this week, have been behaving like the caffeine-addled tail-chasing f

03-03-2022 04:10 GMT by Jeffrey Halley

Market Insights Podcast (Episode 301)

Jonny Hart speaks to APAC Senior Market Analyst Jeffrey Halley about news impacting the market and the week ahead. Today we look at market developments in Asia following a relief rally on Wall Street overnight. Notably, oil prices have continued flying in Asia and much of the podcast ponders the fallout from spiralling commodity prices, notably stagflation or not.

03-03-2022 02:49 GMT by Jeffrey Halley

EUR/JPY - Further downside to come?

Or is it due a correction? It's been a very volatile start to 2022 and risk aversion has certainly picked up in recent weeks following the Russian invasion of Ukraine. The shift to safe havens has benefited the usual currencies like the dollar, Swiss franc, and Japanese yen, with the latter making significant gains against the euro. The pair has fallen more than 4% over the last few weeks and despite rebounding a little on Wednesday, looks very vulnerable to a break lower. And this comes a

02-03-2022 19:06 GMT by Craig Erlam

Canadian dollar jumps on BOC hike

The Canadian dollar has posted strong gains on Wednesday. USD/CAD is trading at 1.26695 in the North American session, down 0.59% on the day. BoC raises rates The Bank of Canada went ahead and raised rates earlier today by 0.25%, to 0.50%.

02-03-2022 12:45 GMT by Kenneth Fisher

Oil powers higher, gold has support

OPEC+ displays little appetite for lower prices Oil prices are surging once again today and have topped USD 110 as reports of disruptions to Russian exports as a result of the sanctions emerge. This is something that was already being priced into the markets prior to and after the invasion and the severity of the sanctions have justified those moves.

02-03-2022 12:29 GMT by Craig Erlam

Sell-off on hold amid more talks

The sell-off is on hold on Wednesday as investors regroup following another big move lower a day earlier. European stocks are paring gains and the US has kicked things off in a similar fashion with energy naturally leading the way. I'm not sure broader market sentiment has improved in any way since yesterday given the intensification of the invasion of Ukraine and soaring oil prices but equity markets are seeing some reprieve. There is mild hope that talks between the Ukrainian and Russian del

02-03-2022 12:26 GMT by Craig Erlam

Oil higher, gold volatile

Oil jumps on disruption fears Crude prices have slingshot higher as Russia’s turmoil will worsen and likely lead to severe supply disruptions for oil markets. The oil market is very vulnerable to a major shortage of supplies now that OPEC+ has ratified a humble supply hike. With oil prices likely to remain elevated for the foreseeable future, the only thing that will send prices down is if demand destruction becomes noticeable. For every USD 10 increase in oil, that will take off 20 basis po

02-03-2022 10:45 GMT by Edward Moya

Stocks rebound ahead of Powell testimony, ADP impresses, Powell sets up March liftoff, bitcoin nears potential top

US stocks are rallying on hopes that the hard-hitting sanctions could be working on Russia and on expectations that Fed Chair Powell will signal the central bank will be in wait-and-see mode with regards to aggressively tackling inflation until they assess the war in Ukraine impact. Risk appetite will struggle to fully return until a true end in the war in Ukraine is in sight. Wall Street wants to take a break from the defensive playbook and hold off overloading on utilities, healthcare and con

02-03-2022 10:40 GMT by Edward Moya

Aussie rises on strong GDP

The Australian dollar is in positive territory, as investors reacted favourably to today's GDP report. AUD/USD is trading at 0.7275, up 0.37% on the day. Australia GDP climbs 3.4% Australia's economy rebounded in the fourth quarter, with a gain of 3.4% QoQ, just shy of the consensus of 3.5%. This is an impressive turnaround from Q3, which came in at -1.9%.

02-03-2022 10:20 GMT by Kenneth Fisher

Market Insights Podcast (Episode 300)

OANDA Senior Market Analyst Craig Erlam reviews the day's market news with Jonny Hart. They discuss another day of turbulence in financial markets as Russian sanctions begin to bite and the invasion of Ukraine intensifies.

02-03-2022 06:47 GMT by Craig Erlam

Slumping euro drops below 1.11

The euro has fallen for three straight days and continues to lose ground on Wednesday. EUR/USD has dropped below the 1.11 line for the first time since May 2020, at the height of the first wave of Covid-19.

02-03-2022 06:12 GMT by Kenneth Fisher

Oil rockets, gold shows slight gains

Oil prices explode higher on Russian supply shock Oil prices exploded higher in New York overnight, and have continued higher in Asia today as well, with Brent crude topping USD 110.00. My inbox is filled with pieces outlining supply disruptions from Russian oil today.

02-03-2022 05:16 GMT by Jeffrey Halley

All news & analysis