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Oil prices ease, gold trading sideways
Oil eases near highs Oil prices are easing again on Monday after the rally lost steam around the October highs late last week. Supply issues in Kazakhstan and Libya contributed to the latter stage of the rally, with the bulk since late December coming from more promising omicron data that indicates the economic impact of the new variant will be more subdued than feared. While prices may be pulling back, aided perhaps by the broader shift in risk appetite in the markets, the fundamentals remain
10-01-2022 12:39 GMT by Craig Erlam
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Sell-off gathers momentum
It was a fairly timid start to the week but the sell-off accelerated around the open on Wall Street, pushing Europe well into negative territory at the end of the day. Omicron relief has been replaced by interest rate angst over the past week and that may take some time to pass. We're seeing data from the US at the moment that appears to show supply issues abating, which should allay temporary inflation pressures, but more permanent pressures - like wages rising - which will concern central ban
10-01-2022 12:33 GMT by Craig Erlam
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Aussie steady ahead of retail sales
The Australian dollar is trading quietly at the start of the week. In the North American session, AUD/USD is trading at 0.7172, down 0.14% on the day. US dollar unable to capitalize on soft NFP December job numbers in the US were mixed.
10-01-2022 12:23 GMT by Kenneth Fisher
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Euro edges lower at start of week
The euro is in negative territory at the start of the new trading week. EUR/USD is trading around 1.1320 in the European session. Investment confidence up, unemployment down The week kicked off with positive European events, although the euro was unable to gain any ground.
10-01-2022 07:42 GMT by Kenneth Fisher
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Oil and gold directionless
Oil ignores US jobs data Oil prices were almost unchanged on Friday, with Brent crude and WTI maintaining their gains even as headline US jobs data came in soft. Brent crude edged 0.20% lower to USD 81.80, and WTI fell 1.0% to USD 78.85 a barrel.
10-01-2022 05:23 GMT by Jeffrey Halley
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The US dollar retreats
US dollar dips after weak nonfarm payrolls Perhaps the most surprising move post the US Non-Farm Payrolls, came from the US dollar, which staged a sharp retreat versus major currencies, even as US yields rose. The dollar index slumped 0.52% to 95.74, before recovering to 95.90 in Asia today.
10-01-2022 05:15 GMT by Jeffrey Halley
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Asian equities diverge
Asian markets look for direction Friday’s US data dump saw the interest rate hawks win the day, thanks to both the participation and unemployment rate tumbling lower. That saw US equities retreat once again, although a soft Non-Farm headline print took the edge of the negativity.
10-01-2022 05:07 GMT by Jeffrey Halley
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Asia struggling for conviction
US jobs data a mixed bag The conflicting hodgepodge of US employment data released on Friday night hasn’t given Asia much in the way of themes to hang their hats on today, complicated by a Japanese holiday reducing liquidity. An underlying theme of caution still permeates the region, but it is a very mixed picture in equity markets across the region, while currency markets look like they are stuck in the mud, going nowhere fast. On Friday, the US Non-Farm Payrolls disappointed, adding only 199
10-01-2022 04:39 GMT by Jeffrey Halley
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Market Insights Podcast (Episode 279)
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 the mixed nonfarm payroll report, FOMC rate and balance sheet expectations, what was behind the moves with oil's strong price rally, and the poor first week of trade for cryptos.  They also discuss what the week ahead has in store for financial markets.
07-01-2022 14:47 GMT by Edward Moya
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Week Ahead - Earnings season is upon us
It's been quite the start to the year, with omicron fears subsiding only to be replaced by interest rate anxiety once more. This could be the theme for the coming months, as policymakers are forced to take inflationary pressures more seriously in the hope that a little now will prevent the need for a lot more later.
07-01-2022 12:50 GMT by Craig Erlam
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Commodities and Cryptos: Oil pares weekly gain, Gold’s bad week could have been worse, Tough week for cryptos
Oil After a robust trading week, oil prices had a choppy Friday session after reports that Kazakhstan did not have to halt any oil and gas production and following the latest employment report that still paved the way for a March Fed rate hike. While optimism is high that the omicron variant impact on the crude demand outlook will be short-lived, it is too early to be optimistic that the worst of this wave is over.  The US CDC Director noted that the US hasn't seen the peak of this covid wave
07-01-2022 12:15 GMT by Edward Moya
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Oil rally, bullish gold case weak, bitcoin lower
Oil at two month high as OPEC struggles to hit quotas Oil prices are continuing to climb at the end of the week as unrest in Kazakhstan and lower output from Libya further hamper producers' ability to gradually return to pre-pandemic levels. We are already seeing OPEC+ struggle to deliver the agreed 400,000 barrel per day increase and this is further exacerbating the problem. And it's happening at a time when demand is expected to remain strong thanks to omicron symptoms being mild by comparison
07-01-2022 11:50 GMT by Craig Erlam
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Pressure mounts on central banks
Jobs report adds to inflation fears Stock markets are back in the red on the final day of the week as investors continue to fret about the prospect of higher interest rates this year. Whether this is just an exhaustion of the omicron relief trade, a case of January blues that will quickly be forgotten once earnings season gets underway next week, or something more significant will only become clear later this month. But the data isn't offering investors much chance for relief and the jobs repor
07-01-2022 11:46 GMT by Craig Erlam
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Pound steady as markets eye NFP
UK Construction PMI cools off The UK Construction PMI for December indicated that growth at cooled off and fallen to a 3-month low. The PMI slowed to 54.3, down from 55.5 in November.
07-01-2022 07:05 GMT by Kenneth Fisher
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Canadian dollar calm ahead of job reports
The Canadian dollar is on a holding pattern ahead of key Canadian and US employment reports later today. Currently, USD/CAD is trading just above the 1.27 line. Nonfarm payrolls could shake up US dollar It could be an active North American session for the Canadian dollar, with the release of Canada's job creation numbers and the US nonfarm payrolls.
07-01-2022 06:30 GMT by Kenneth Fisher
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Yen hovers just below 116
All eyes are on US nonfarm payrolls, perhaps the monthly highlight on the economic calendar. An interesting prelude to nonfarm payrolls was the ADP employment report on Wednesday.
07-01-2022 04:37 GMT by Kenneth Fisher
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Kazakhstan bites bitcoin
Bitcoin volatile over Kazakhstan unrest Bitcoin and other digital Dutch tulips have endured a torrid week thus far, with bitcoin falling 4.0% to USD 41.400.00 in Asian trading. Kazakhstan is the world’s second-biggest bitcoin mining hub and while Russian troops are shooting protestors there to restore order, bitcoin mining and the internet have been taken offline.
07-01-2022 03:49 GMT by Jeffrey Halley
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