Fed under considerable pressure to cut (video)

U.S. Fed ‘under considerable pressure’ to trim rates: Market analyst Looking ahead to Wednesday’s policy announcement from the U.S. Federal Reserve, Craig Erlam, senior market analyst at OANDA in London, says “the Fed is under considerable pressure from the White House” to indicate a rate cut is coming. But Erlam also says if there’s good […]

Leadership race overshadows BoE

Central bank to play second fiddle in coming months It’s already been a quite a week for the UK, with leadership elections taking place as we continue to edge towards the final two that will face the Conservative membership to become the next Prime Minister. It’s not often that the Bank of England is overshadowed […]

GBP/USD – New lows on leadership woes

GBP lower ahead of more leadership votes The Conservative party leadership election has not been kind to sterling so far, with contenders being forced to paint themselves as the bigger Brexiteer and the more willing to leave without a deal. The efforts are deemed necessary to compete with the front-runner Boris Johnson and stand a […]

European update – Draghi works magic on EUR/USD

Draghi stimulus hint lift European stocks Mario Draghi has been back on the airwaves this morning doing what he does best. The ECB President – for a few more months at least – has become known for his ability to talk down the euro even during periods of tightening and this morning, he’s delivered in […]

Business Breakfast with OANDA on Jazz FM

OANDA Senior Market Analyst Craig Erlam joins Jazz FM’s Michael Wilson to discuss all the morning’s market stories, including tomorrow’s Fed decision, oil’s muted response to the flare up in the Gulf, Kier Group and Facebook’s entry into the cryptocurrency space. Click on the link below to listen.

WTI crude – Spikes on reported tanker attacks

Oil spikes on reports of tanker explosions Oil prices have spiked on Thursday following reports of tankers being attacked in the Gulf of Oman, off the coast of Iran. This comes a month after allegations of sabotage in the same region, which was blamed on Iran and threatened to stoke further tensions in the region. […]

European update – Equities back in the green

Equities quickly bounce back It didn’t take long for investors to buy the dip, with equity markets back in the green on Thursday following a two day pause which appeared to be nothing more than soft profit taking. Source – Thomson Reuters Eikon The rebound even follows a brief dip in US futures overnight, which came […]

WTI crude – Back near lows ahead of inventories

Oil sinks ahead of EIA inventory data Another large inventory build, reported by API on Tuesday, is piling further pressure on oil prices, as we await a more widely followed release from EIA later today. Estimates suggest we may see a slight drawdown but that’s very much at odds with the near-five million barrel build […]