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Asia follows New York’s value versus growth

Asia markets mixed Overnight, Wall Street went looking for the winners in an inflationary environment and as a result, loaded up on the Dow Jones at the expense of the Nasdaq, mostly on the premise the Fed inflation hunting will resume as the global recovery bids omicron goodbye. The S&P 500 was almost unchanged at -0.06%, but the Nasdaq tumbled by 1.33%, while the Dow Jones added 0.58%.

05-01-2022 04:56 GMT by Jeffrey Halley

Markets flirt with the inflation trade

US treasury yields head higher Seemingly, the sharp rise in US yields this week has sparked a move from growth to value, or as I put it, from the Nasdaq to the Dow Jones. Whether it lasts is another thing altogether, with such rotations running out of steam over the past 18 months, without really ever gathering momentum.

05-01-2022 04:36 GMT by Jeffrey Halley

Commodities and Cryptos: Oil rallies after OPEC+ agrees on more production, Gold rebounds, Bitcoin steady

Oil Crude prices are rising again as OPEC+ grows more confident that the global crude demand outlook will only take a limited hit from the omicron variant. The plan to gradually return production can move forward as OPEC+ anticipates a tighter market in the first quarter. When you factor in that many countries are struggling to hit their quotas, even Russia, the oil market should expect this lack of capacity will keep prices heading higher throughout the year. WTI crude is back above many ke

04-01-2022 15:54 GMT by Edward Moya

US Close: ISM shows pricing pressures ease, Jolts show the Great Resignation continues, Fed's dove sees 2 hikes in 2022

It wasn’t much of a rally, but we did get a Santa rally. The second trading day of the New Year marks the end of the Santa rally and more importantly the latest updates over how quickly global supply constraints are easing, but sadly that might not last due to omicron. US stocks could not hold onto earlier gains as tech stocks got pummeled over fears that Treasury yields will go much higher.

04-01-2022 15:54 GMT by Edward Moya

Oil extends gains, gold vulnerable

Oil well supported after OPEC+ assessment Oil prices are extending gains after the OPEC+ meeting today, at which producers agreed to continue to increase output by 400,000 barrels per day, next month. At the last meeting, the group agreed to continue with planned increases in January but made clear it could make adjustments at any point if omicron proves to be a significant drag on demand. It's clear based on today's meeting that downside risks to demand from the new variant never materialized

04-01-2022 14:54 GMT by Craig Erlam

Don't read too much into early New Year moves

An interesting start to the year, with Europe once again posting large gains on Tuesday as the US indices have mixed fortunes. I always feel too much is read into late December and early January trading, with Santa rallies being overly celebrated and the doom and gloom of the opening month of the year way overdone. The start of the year hasn't offered the doom and gloom yet, although US tech stocks getting whacked today may make some a little nervous. As many return to their desks following an

04-01-2022 14:47 GMT by Craig Erlam

CAD climbs on soft US data, risk-on mood

The Canadian dollar continues to show strong movement early in the New Year. USD/CAD is currently trading at 1.2674, down 0.56% on the day. ISM Manufacturing underperforms The first tier-1 events in 2022 out of the US disappointed, missing their estimates.

04-01-2022 11:33 GMT by Kenneth Fisher

Euro dips below 1.13 as Treasury yields rise

The euro has started the New Year on the left foot, as EUR/USD has fallen close to 1% already this week. The dollar is showing broad strength, boosted by the jump in US bond yields.

04-01-2022 09:31 GMT by Kenneth Fisher

Yen slips to 5-year low

The Japanese yen continues its downswing early in the New Year. USD/JPY is trading at 115.95 in the European session, its highest level since January 2017. US Treasury yields weigh on yen The US dollar has brought in the New Year with a bang, rallying sharply against the major currencies.

04-01-2022 07:02 GMT by Kenneth Fisher

Oil edges up, gold vulnerable

Oil moves to the top of its range Oil prices edged higher overnight, Brent crude rising 1.25% to USD 78.90, and WTI climbing 0.85% to USD 75.95 a barrel. Diminishing omicron concerns have supported oil through the holiday period and the spectre of OPEC+ now looms over energy markets.

04-01-2022 05:37 GMT by Jeffrey Halley

US dollar rises sharply on higher yields

US 10-year bond yield boosts greenback The US dollar rallied sharply against the major currencies overnight as US 10-year bond yields surged back above 1.60%. The dollar index of major currencies rose sharply by 0.58% to 96.22 overnight, more than offsetting the previous day's falls and leaving major technical support at 95.50 intact once again. EUR/USD has fallen 0.70% to 1.1300 and has traced out a number of failures ahead of 1.1400 resistance.

04-01-2022 05:26 GMT by Jeffrey Halley

Asia’s cautious equity mood continues

Mixed mood in Asian equity markets With most of the region back at work today, Asian markets have refused to blindly piggyback New York’s overnight rally higher, even as the omicron relief rally gathers steam. The Indonesia coal export ban and the suspension of Evergrande shares yesterday left plenty of two-way risk on the table for Asia, especially where China is concerned.

04-01-2022 02:59 GMT by Jeffrey Halley

Omicron Becomes Omigone

Markets party despite Omicron You would be hard pushed to find a reason not to be in a jubilant mood as an investor as financial markets dished out the happy new year’s overnight, the first trading day of the year. I spent it on a series of almost empty flights on the trek to managed isolation in New Zealand, but for the rest of the world, the New York session finished with plenty of New Year’s goodies.

04-01-2022 02:49 GMT by Jeffrey Halley

Canadian dollar slides as US yields jump

Volatility continues for Canadian dollar After ending 2o21 with strong gains, the Canadian dollar didn't miss a beat and continued to show volatility on the first day of the New Year, this time posting sharp losses. In the North American session, USD/CAD is trading at 12761, up 0.95% on the day. The US dollar is showing broad strength on Monday, courtesy of a surge in US Treasury yields.

03-01-2022 11:52 GMT by Kenneth Fisher

Pound dips below 1.35, Omicron surges

The British pound has started the New Year in negative territory. GBP/USD has dipped just below the symbolic 1.35 level. Pound benefitting from strong risk appetite The British pound ended 2021 with a winning week, gaining 1.03%.

03-01-2022 08:58 GMT by Kenneth Fisher

Euro edges lower as German PMI misses mark

Welcome to the first trading day of 2022! The euro is slightly lower in the European session, trading around 1.1350. German Manufacturing PMI misses consensus Eurozone Manufacturing PMIs for December pointed to growth across the bloc.

03-01-2022 06:33 GMT by Kenneth Fisher

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