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Euro rattled as Fed sends hawkish message

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

BoC and Fed send CAD for a ride

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

NZD falls to 11-week low on hawkish Fed

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 and BOC Day: Fed sets up March Liftoff, Balance Sheet later, BOC holds

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

Commodities and Cryptos: Oil won't stop rising, Gold falls, Bitcoin higher

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

Market Insights Podcast (Episode 287)

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

GBPCAD - Jumps as BoC resists raising rates

No breakout yet, though The pound has been range-bound against the Canadian dollar for the last week and that remains the case so far today, despite the Bank of Canada holding off on raising interest rates. It had been expected to start the tightening cycle today, with the market's pricing in up to five more over the course of the year after inflation hit a 30-year high and the labour market improved. But with the central bank taking a more patient approach and instead laying the foundations

26-01-2022 11:58 GMT by Craig Erlam

Pound steady ahead of FOMC

The British pound has ticked higher, trading just above the 1.35 line in the North American session. We could see stronger movement from GBP/USD later today, after the release of the FOMC policy decision. The British pound is sensitive to risk, so a strong reaction from the financial markets will likely be reflected in the pound's movement as well. Investors are keeping both eyes on the FOMC policy meeting, although policy makers are not expected to make any changes in monetary policy.

26-01-2022 11:44 GMT by Kenneth Fisher

NZ dollar flat ahead of CPI and the Fed

It has been a quiet week for the New Zealand dollar, but that could change later in the day, with two key releases. The Federal Reserve holds a policy meeting and New Zealand releases CPI for the fourth quarter. The currency markets have been steady this week, in contrast to the equity markets, which have seen sharp drops ahead of today's FOMC meeting, the first in 2022.

26-01-2022 09:46 GMT by Kenneth Fisher

Another promising rebound

We're seeing a strong start to trading on Wednesday after what has been a very turbulent start to the week. We've seen some sharp sell-offs already this week but investors appear to be encouraged by just how quickly and strong markets have bounced back. Monday looked like it was going to be a bloodbath in equity markets but rather than panic, investors poured back in and seized upon the lower valuations. We saw this again after the close on Tuesday, when Microsoft earnings caused another wobbl

26-01-2022 09:32 GMT by Craig Erlam

Oil eyes USD 100, gold awaits FOMC

Oil eyeing triple figures after brief pullback Oil prices are continuing to edge higher after a brief pullback last week. The move followed some turbulence at the start of the week and came as API reported an 872,000 barrel draw which exceeded expectations.

26-01-2022 09:26 GMT by Craig Erlam

Canadian dollar rises ahead of BoC decision

The Canadian dollar is usually sleepy before the North American session. Today has been unusual, with the currency showing recording steady gains in the Asian and European sessions.

26-01-2022 05:53 GMT by Kenneth Fisher

Euro drifting ahead of FOMC meeting

The euro continues to have a quiet week and is trading just shy of the 1.13 level. All eyes on FOMC It has been a calm week for the euro, but that could change later today when the FOMC releases its policy decision. Fed policy makers are in an unenviable position, as they strive to find that proper balance between responding to the inflation threat while also being careful not to be overly aggressive in raising interest rates. If the markets feel that the Fed has not achieved this delicate ba

26-01-2022 04:08 GMT by Kenneth Fisher

NAS100 - Heading for bear market territory?

Fed a big test on Wednesday It's been a wild ride so far this year and there may still be plenty more to come. The NAS100 has smashed through key support levels on an almost weekly basis and now sits around 15% off its highs, thanks to a remarkable rebound on Monday. The index has trended lower once more today but remains above yesterday's lows which could be a promising signal. Turnarounds like yesterday don't happen very often and the power of the rebound could be viewed as an encouraging s

25-01-2022 16:55 GMT by Craig Erlam

Gold rally, oil higher on geo risks

Gold/FX Gold is rallying as investors run to safety over fears the Fed will aggressively tighten policy and as the list of geopolitical risks continues to grow: The Russian-Ukraine standoff will remain a tense situation for the foreseeable future, North Korea may resume nuclear tests, and Iran nuclear talks are approaching a decisive moment. The dollar edged higher as the Treasury steadied into the start of the two-day FOMC policy meeting. Oil rises over Russia/Ukraine jitters Geopolitical r

25-01-2022 15:21 GMT by Edward Moya

Market volatility remains elevated, another stock market comeback, US data, bitcoin base formed

Market volatility remains elevated as investors are still feeling jittery over a very tense Ukraine-Russia situation, a whole range of inflationary issues that include a potentially aggressive Fed and a global chip problem that just won’t get any better. Optimism remains that a massive correction is still unlikely to happen because the US growth story will likely remain intact this year, but Wall Street is not seeing many buyers emerge ahead of the Fed and as the conflict in Ukraine escalates.

25-01-2022 15:16 GMT by Edward Moya

Euro falls, German business climate rebounds

The euro has fallen below the 1.13 level in Tuesday trade. EUR/USD is trading at 1.1266 in the North American session, down 0.55% on the day. Risk appetite down, greenback up The US dollar is higher against all the majors except for the yen, as risk sentiment has taken a tumble.

25-01-2022 10:31 GMT by Kenneth Fisher

Oil picture favourable, gold well supported

Fundamentals remain bullish for oil Oil got caught up in the sell-everything panic at the start of the week, sliding more than 3% at one stage before recovering a little. There wasn't much sense behind the move, but the fact that the dollar was strengthening and crude was already seeing profit-taking after peaking just shy of USD 90, probably contributed to it. The market remains fundamentally bullish and conflict with Russia does nothing to alleviate supply-side pressures.

25-01-2022 09:25 GMT by Craig Erlam

A huge few days for markets

It's been a rollercoaster start to what was always going to be a massive week in the markets and there's little reason to expect that to change in the coming days. The turnaround on Monday was incredible. From eye-watering losses to ending the day in the green; it's not often you see that kind of action.

25-01-2022 09:21 GMT by Craig Erlam

Swiss franc extends slide

The Swiss franc is down sharply on Tuesday, with USD/CHF climbing above the 92 line for the first time in two weeks. In the North American session, USD/CHF is trading at 0.9184, up 0.58% on the day. Investors will be keeping an eye on Swiss Economic Expectations which will be released on Wednesday.

25-01-2022 09:15 GMT by Kenneth Fisher

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