It was a week to forget for the Canadian dollar. USD/CAD jumped 1.51%, marking the Canadian dollar's worst weekly performance since mid-August.
31-01-2022 06:22 GMT
by Kenneth Fisher
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We continue to see significant volatility from the Australian dollar. Last week, AUD/USD plunged 2.51%, its worst week since mid-August.
31-01-2022 04:46 GMT
by Kenneth Fisher
After a rollercoaster January, Wall Street is now expecting the Fed to aggressively raise interest rates over the course of the year as they scramble to control inflation. The US dollar is once again king as most economists are now expecting the Fed to deliver anywhere between 3-7 rate hikes this year.
The upcoming week is filled with a few big rate decisions from the RBA, BOE, and ECB.
28-01-2022 16:29 GMT
by Edward Moya
US stocks rallied after both solid results from Apple and a softer-than-expected fourth quarter employment cost index. The Fed Chair closely watches employers costs as that was a key trigger for their hawkish pivot last month.
28-01-2022 15:19 GMT
by Edward Moya
Oil
Crude prices have been on fire, rising for a sixth straight week as the demand outlook improves and over geopolitical fears could lead to severe production disruptions. The supply side continues to support a tight market as OPEC+ is expected to stick to their plan of increasing output by 400,000 bpd in March, even though their compliance last month only hit 60% of plan.
Now that $90 oil is here, it won’t take much to get prices to $100 and that will just intensify the global energy crisis.
28-01-2022 15:18 GMT
by Edward Moya
New Zealand dollar slides to 4-month low
The New Zealand dollar is in trouble. NZD/USD is down 0.57% on Friday, after posting losses for six consecutive days.
28-01-2022 07:53 GMT
by Kenneth Fisher
The US dollar is running roughshod over the Swiss franc this week. USD/CHF has shot up 2.16% this week, rising to its highest level since November.
28-01-2022 04:34 GMT
by Kenneth Fisher
Market volatility is not going away anytime soon as the ‘buy the dip’ crowd has a new motto, ‘sell the rally’. Today’s stock market rally did not last as corporate America reminded us that supply chain troubles persist, and profit forecasts are not providing any reasons to be optimistic. Many traders are still processing what happened yesterday with the Fed and the reality is that they missed an opportunity. It is hard to aggressively maintain a bullish stance with equities when you know the
27-01-2022 16:35 GMT
by Edward Moya
Oil
WTI crude prices reversed earlier gains as the dollar surged following better-than-expected economic data that supported the idea that the economy can handle rapid Fed rate hikes. No one is questioning how tight the oil market remains, but there is some exhaustion after making fresh seven-year highs and that has led to some profit-taking.
27-01-2022 16:35 GMT
by Edward Moya
OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart. They discussed the Fed, US GDP, gold and the week ahead.
27-01-2022 14:56 GMT
by Craig Erlam
OANDA Senior Market Analyst Craig Erlam discusses the NAS100 and whether it's heading for a bear market in light of the multiple rebounds we've seen this week.
27-01-2022 14:51 GMT
by Craig Erlam
The US dollar has posted strong gains against the majors on Thursday, and GBP/USD has fallen 0.64% on the day, trading below the 1.34 line. It has been a dismal week for the pound, which has lost 1.29% in value.
Powell powers the US dollar upwards
The FOMC didn't make any changes to policy at Wednesday's meeting, but what the Fed said and didn't say was enough to cause more volatility in the fragile financial markets.
27-01-2022 12:38 GMT
by Kenneth Fisher
Oil has sight set on USD 100
Oil prices are making decent gains again on Thursday, with Brent once more above USD 90 which is naturally leading to talk of USD 100 oil and when it will happen. The environment continues to be very bullish for oil prices, given supply issues within OPEC+, strong demand, and now, geopolitical risk premiums.
27-01-2022 11:08 GMT
by Craig Erlam
It's been a remarkable week so far in financial markets and it seems there's still plenty more to come.
It's been a tough month for investors, forced to watch on as central bank tightening expectations hammered risk appetite and, in turn, stock markets. This has been largely accepted as a consequence of inflation being allowed to run hot for too long but this week, the fightback has started.
Monday's turnaround was incredible.
27-01-2022 10:59 GMT
by Craig Erlam
What started off as a calm week has turned into a rout. The euro is down 0.83% in the North American session and has fallen into 1.11 territory for the first time since June 2020.
27-01-2022 09:23 GMT
by Kenneth Fisher
USD/CAD has edged higher on Thursday and briefly pushed above the 1.27 line for the first time in three weeks. The Canadian dollar continues to lose ground and is down 1% this week.
Wednesday was a busy day on the central bank watch, with both the Bank of Canada and the Federal Reserve holding meetings. The BoC meeting was live, with analysts split as to whether the bank would raise rates.
27-01-2022 07:18 GMT
by Kenneth Fisher
The New Zealand dollar is in negative territory on Thursday, after posting five straight losing sessions. In the Asian session, NZD/USD fell below the 0.66 line for the first time since November 2nd and is down 0.40% on the day.
New Zealand CPI hits 5.9%
New Zealand consumer inflation surged to 5.9% in Q4, up from 4.9% in the third quarter.
27-01-2022 05:34 GMT
by Kenneth Fisher
Fed Day:
US stocks gave up earlier gains as Treasury yields surged after Fed Chair Powell signaled they will use their tools to make sure inflation does not become entrenched, paving the way for a March liftoff. Earlier, the stock market may have gotten too pessimistic and priced in too much of a slowdown that was going to come from an aggressive Fed tightening cycle.
26-01-2022 16:04 GMT
by Edward Moya
Oil
Brent crude prices breached the $90 level, the highest level since 2014, joining a broad risk-on Wall Street move and shrugging off a somewhat bearish EIA crude oil inventory report. Energy traders are anticipating higher energy prices on potential geopolitical risks and as OPEC+ will stick to their plan to deliver another modest increase to production at next week’s meeting.
Oil inventories posted a larger build than expected, jet fuel demand plunged, gasoline imports dropped, demand imp
26-01-2022 16:04 GMT
by Edward Moya
OANDA Senior Market Analyst Ed Moya previews the day's market news with Jonny Hart. They discussed markets, preview the FOMC decision, recap the BOC hawkish hold, oil price volatility and all the fundamental drivers, and cryptos.
26-01-2022 15:37 GMT
by Edward Moya