Brent crude has been tumbling in recent weeks, forced lower by slowing growth, a coordinated SPR release and this past week, the new Omicron variant.
OPEC+ had an opportunity to arrest the slump today and at first, it appeared they'd passed up the opportunity. But the decision to maintain not change their planned increases each month came with an important...
The pound has been trending lower over the last month or so but the decline may finally be losing momentum.
It's found some support around 1.32 but momentum has been slipping over the last week or two, creating divergences on both the daily and 4-hour chart, which may suggest a correction is coming.
If the pair has bottomed for now, how deep a correction can we...
EURUSD is already running into resistance, so quickly after rebounding off the lows around 1.12 late last week.
The euro started to make its comeback in recent days after coming under a lot of pressure this month but already it's seeing resistance around 1.14, the first major test to the upside.
This coincides with the most recent area of resistance, as well as...
The euro is in negative territory on Monday, giving up some of Friday's huge gains. In the North American session, EUR/USD is trading at 1.1268, down 0.36% on the day.
Uncertainty led to panic in the financial markets last week, as the Omicron variant of Covid-19 was detected outside of South Africa, leading to fears that the variant could cause a massive spike...
The New Zealand dollar has extended its losses on Friday, after five straight losing sessions. NZD/USD is currently trading at 0.6823, down 0.45% on the day.
Risk apprehension is sharply lower in the markets today, as a Covid variant which has spread in South Africa is causing concern around the world. Two cases of the variant were detected in Hong Kong today...
The euro has reversed directions and is back above the 1.1200 level. EUR/USD is trading at 1.1222, up 0.19% on the day.
Where is ECB policy headed? That is no easy question, as we are getting mixed messages from ECB officials. Governor Christine Lagarde has pushed back against market bets of a rate hike in late 2022. Earlier this month, Lagarde said that it was...
Or more to go?
Oil prices are on the rise again after a correction over the last month but how much support does it now have?
It didn't take long for oil to rebound after the US, China, India, Japan, UK and South Korea announced their coordinated SPR release. A sign that the market had fully priced in the announcement, perhaps even that it isn't the game-changer...
Correction may be coming
The dollar has been on a strong run the last couple of weeks, which when coupled with the broad weakness we've seen in the euro has led to an accelerated sell-off in the EURUSD pair.
Higher inflation, a strong consumer and a strengthening labour market has backed the Fed into a corner, despite strong pushback on rate talk over recent...
Or is there too much momentum?
It's been a wild ride for gold this past few weeks and the latest moves highlight just how much uncertainty there is in the markets right now.
The yellow metal saw incredible support earlier this month as inflation indicators flashed and central banks pushed back against accelerating their policy response.
The transitory claim...
The British pound is in negative territory in the Friday session. GBP/USD is currently trading at 1.3450, down 0.35% on the day.
UK retail sales for October surprised the markets, as the gain of 0.8% m/m was the first gain in five months. Clearly good news, but the improvement could well be due to early Christmas shopping rather than a change in the mindset of...
The Japanese yen has edged higher on Friday. USD/JPY is trading at 113.93, down 0.28% on the day.
Japan's CPI edged up by 0.1% y/y in October, identical to the September gain. Higher energy costs were behind the increase, which would have been higher if not for a sharp drop in mobile phone fees. These inflation figures are certainly much more subdued than what...
The euro has been grinding lower against the pound for more than a year now, with much of 2021 spent within a shallow descending channel.
But with the two central banks likely to see some divergence in monetary policy over the next 12-18 months, could we finally see the pair break out of this long-standing trend?
The BoE bottled the rate hike at its November...
It's been a wild ride in GBPJPY over the last month or so and it may only be about to take off.
From long-term consolidation to finally breaking higher - and in impressive fashion - to a sharp reversal after the BoE bottled raising rates. It's been quite the month and there's still plenty of action to come.
The pair now finds itself between two very interesting...
The UK100 has been on a good run in recent weeks, in keeping with the broader trend in stock markets that have reacted very positively to a strong third-quarter earnings season.
This followed an adjustment prior to the start of the season as investors started pricing in earlier and earlier rate hikes, not to mention more of them over the next couple of years, in...
The Australian dollar has started the week in positive territory, extending the gains seen on Friday. AUD/USD is currently trading at 0.7364, up 0.47% on the day.
It's a light calendar in Australia this week, with no major economic releases. The highlight from Down Under will be the RBA minutes from the November meeting, which will be released on Tuesday. The...
After three losing sessions, the Australian dollar has steadied. AUD/USD is currently trading at 0.7305, up 0.17% on the day. In the Asian session, the Aussie dropped to 0.7277, its lowest level in a month.
The Australian dollar didn't get any help from the October employment report, which was showed total employment declining and the unemployment rate rising....
The dollar rallied strongly on Wednesday after data showed inflation rose to a 31-year high in the US.
Coming on the back of Friday's fantastic jobs report and the 20-year high in the quarterly employment cost index the week before, this doesn't bode well for a Fed intent on being patient on raising interest rates.
The central bank has repeatedly stated its...
It's been a wild ride for gold the last couple of weeks, as markets have done their best to navigate the poorly communicated policy shifts at various central banks.
From pricing in plenty of rate hikes to paring back expectations, gold has previously broken below the ascending channel and set itself up for a potentially deeper dive, before now soaring higher to...
