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Ending the week in the red
Stock markets are ending the week in the red after investors were dealt another inflation blow on Thursday which dampened sentiment once more. We were just starting to see confidence building in the markets, with investors seemingly coming to terms with the prospect of four or five rate hikes this year. But the relentless and broad-based price rises in the US delivered yet another hammer blow and ruined any momentum that had been building into the report. We're now entering into quite uncomfor
11-02-2022 08:33 GMT by Craig Erlam
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NZD dips as inflation expectations rise
The New Zealand dollar is down 0.38% on the day, as it trades at 0.6650 in the European session. NZD/USD went for a ride on Thursday, rising close to 1% before retreating and giving up these gains. This was a common thread for most of the major currencies, as the US dollar softened after the hot US inflation report but managed to recover most of these losses by the end of the day. RBNZ Inflation Expectations rises New Zealand has not been immune to surging inflation.
11-02-2022 06:50 GMT by Kenneth Fisher
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Pound yawns after UK GDP as expected
The pound is slightly lower on Friday, after taking investors on a roller-coaster ride a day earlier. GBP/USD was up over 100 points on Thursday after the US inflation report, but the pound surrendered almost all of these gains later in the day. The UK treated the markets to data dump on Friday, but the pound shrugged.
11-02-2022 03:42 GMT by Kenneth Fisher
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NZD rises, inflation expectations looms
It has been a banner week for the New Zealand dollar, which has climbed 1.79% and gained over a cent. The US dollar is broadly lower on Thursday, and NZD/USD has gained 0.71% on the day, after posting gains every day this week. New Zealand has been hit with high inflation as the country continues to emerge from Covid.
10-02-2022 12:42 GMT by Kenneth Fisher
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Oil rallies, gold steady
Oil Crude prices have been in a ping-pong session over the past couple of days as energy traders monitor headlines regarding the Russia-Ukraine geopolitical conflict and Iran nuclear talks.  The Biden administration reached out to the Saudis but was unable to make any progress in getting oil prices down.
10-02-2022 12:32 GMT by Edward Moya
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Pound jumps as US inflation jumps
The British pound finally woke up this week and has punched past the 1.36 level. GBP/USD is trading at 1.3615, up 0.78% on the day. The highly anticipated US inflation reading did not disappoint, coming in a 7.5% y/y for January.
10-02-2022 11:50 GMT by Kenneth Fisher
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Gold - Running out of steam?
Rally continues after US inflation data Gold is continuing to rally on Thursday and is on course to register an eighth day of gains in the last nine. That's not bad considering markets are continuing to price in more and more rate hikes from central banks around the world this year. But perhaps that's also the problem. This isn't a gradual tightening process.
10-02-2022 11:11 GMT by Craig Erlam
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Crude steady, gold pauses ahead of CPI
Crude prices remain elevated despite progress on nuclear talks Oil prices are marginally lower this morning but Brent crude remains above USD 90 and WTI is only a little shy of it. Prices rose a little on Wednesday after a couple of days of losses following the EIA inventory report, which showed a surprising 4.8 million barrel drawdown. This came as talks appear to be moving in the right direction between the US and Iran, which could see more than a million barrels re-enter the market.
10-02-2022 05:38 GMT by Craig Erlam
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Canadian dollar edges higher
The Canadian dollar has posted slight gains on Wednesday. There are no Canadian tier-1 events on the calendar this week, so we can expect US releases will have a magnified impact on the movement of the Canadian dollar this week. With the Fed poised to launch a series of rate hikes starting in March and inflation surging in Canada, it's unlikely that the Bank of Canada will simply fold its hands.
09-02-2022 13:01 GMT by Kenneth Fisher
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Oil pops on surprise draw, gold firm ahead of CPI
Oil rallies on tight supplies Oil rallied after a surprise crude draw reinforced how tight the oil market remains.  Crude prices have too many catalysts that support a move to USD 100 oil in the near future: Geopolitical tensions across Europe and the Middle East should remain wildcards for oil, crude demand continues to improve as large parts of the world return to normal travel behavior, and as OPEC and non-OPEC output gradually increases. The weekly EIA crude oil inventory report showed sto
09-02-2022 12:19 GMT by Edward Moya
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Bond market selloff can’t continue until CPI data, stocks rebound on Bostic and as yields drop, bitcoin eases
US stocks are rising after both Fed’s Bostic assuaged investor fears of an overly aggressive Fed tightening cycle and as the global bond market selloff takes a break in anticipation of tomorrow’s inflation report. Fixed-income traders made it clear early that the 10-year Treasury yield would not break above the 2.00% level before Thursday’s inflation data.
09-02-2022 12:13 GMT by Edward Moya
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Oil dips as Iran talks continue, gold flat
Oil eases as talks continue Oil prices are continuing to soften on Wednesday, as traders continue to weigh up the prospect of a nuclear deal between the US and Iran that could see more than a million barrels of oil flood the market at a time when it's very much needed. One eye will also be on the EIA inventory data after API reported a more than two million barrel drawdown on Tuesday. WTI has slipped back below USD 90 but Brent is continuing to hold around there, after finding strong support o
09-02-2022 08:39 GMT by Craig Erlam
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Confidence building
Stock markets are making decent gains in Europe on Wednesday and US futures are also being led higher as confidence continues to build following a torrid start to the year. Investors' mood brightens It's hard to pinpoint exactly what has changed; whether it's earnings that are lifting the mood or the soothing tones of central bankers desperately trying to manage expectations. Perhaps it's simply a case of investors coming to terms with the tightening environment and feeling more comfortable wi
09-02-2022 08:34 GMT by Craig Erlam
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Oil eases, gold extends rally
Oil pares gains as nuclear talks continue The oil price rally is cooling on Tuesday as the US and Iran indirectly continue talks over the nuclear deal that could see more than a million barrels quickly come back online. It couldn't come at a better time given how tight the market is, not to mention politically for President Biden ahead of the midterms.
08-02-2022 13:53 GMT by Craig Erlam
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Optimism ahead of Fed and inflation data
We're seeing further signs of stabilization in the markets on Tuesday, as the relatively peaceful start to the week continues. It's been a wild start to the year and it seems investors are embracing the less intense start to the week, probably with an eye on what's to come over the next couple of days. Recent weeks have brought so much anxiety to financial markets as yields have accelerated higher in anticipation of a series of rate hikes from central banks. The inflation data has continued to
08-02-2022 13:46 GMT by Craig Erlam
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