The New Zealand dollar’s mini-rally has come to a halt, as NZD/USD has posted slight losses. In the North American session, NZD/USD is trading at 0.6845, down 0.21% on the day. NZ Manufacturing PMI expands New Zealand’s manufacturing sector posted strong numbers this week. Earlier today, Manufacturing PMI accelerated to 53.6 in February, up from […]

Will Canadian job data boost loonie? It’s been a busy week for the Canadian dollar. USD/CAD started the week with strong gains, but the Canadian dollar has clawed back and recovered most of those losses. The week will wrap up with the Canadian employment report for February. The markets are expecting a huge turnaround after […]

Following the record 7.5% high for January, the U.S. Labor Department’s Consumer Price Index (CPI) data shows February’s CPI metrics rose to 7.9%. The CPI data published on Thursday is a new 40-year high and month over month, inflation jumped by 0.8%. President Joe Biden is blaming the inflation spike on Russia’s invasion, as he […]

Oil goes for a wild ride Oil edged lower after a wild session as energy traders became worried that inflationary pressures will only get worse as this war continues and that will lead to crude demand destruction.  After another hot inflation report, many investors on Wall Street are growing concerned that stagflation risks could derail […]

GBP/USD has reversed directions on Thursday, giving up most of the gains from a day earlier. In the North American, session, GBP/USD is trading at 1.3132, down 0.41% on the day. US inflation accelerates to 7.9% In the US, headline CPI continued to accelerate, with a gain of 7.9% for February YoY. This matched the […]

The British pound is in positive territory, as the US dollar has retreated against the major currencies for the first time in five days. GBP/USD is trading at 1.3169 in the North American session, up 0.52% on the day. The US dollar has had its way with the pound in recent sessions, but GBP/USD has […]

Oil pares huge gains Crude prices skyrocketed to a 13-year high at the start of the week as energy traders were thinking the war in Ukraine could lead to an even tighter oil market as the US tries to convince the Germans to agree upon a ban of oil imports from Russia. After hitting the […]

Fears of a recession and a 1970s-style stagflation economy continue to grip Wall Street and investors this week, as multiple reports show that recession signals have intensified. With oil and commodity prices surging, Reuters reports that investors are “recalibrating their portfolios for an expected period of high inflation and weaker growth.” While Wall Street Fears […]

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 how financial markets reacted to the War in Ukraine, what does the latest nonfarm payroll report does to Fed rate hike expectations, and recapped what happened with energy markets. They also […]