Tag: economic policies

Dollar Slips Ahead of Fed Rate Decision

February 1, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar weakened slightly against the euro ahead of Wednesday’s eagerly awaited Federal Reserve policy decision, with investors hoping the U.S. central bank will signal an end to interest rate tightening cycle. The euro, meanwhile, was barely moved by data showing inflation in the bloc had eased for a third straight month in January. After…

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Oil Stable as Market Awaits Fed, OPEC Decisions

February 1, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and U.S. government data on crude and fuel stockpiles on Wednesday. Brent crude futures dipped 11 cents, or 0.1 percent, to $85.35 a barrel at 0949 GMT. West Texas…

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Stocks Firm, Dollar Retreats Ahead of Fed Decision

February 1, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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LONDON/SINGAPORE—Global stocks edged up on Wednesday as signs of slowing U.S. wage growth supported expectations that the Federal Reserve could signal an end to interest-rate hikes at its meeting later in the day. Wall Street indexes had rallied, as had bonds to a lesser extent, while the dollar gave up gains overnight when the Fed’s…

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US Consumer Confidence Slips as Recession Fears Grow

January 31, 2023
Business & Marketsconsumer confidence indexeconomic policieseconomyFederal ReserveinflationInvestmentMarketspersonal financePolicies & ImpactsrecessionUS
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American consumer confidence has begun to stumble at the start of the year, as recession fears grow. The Conference Board, a business research group, reported on Jan. 31 that its consumer confidence index slightly fell 107.1 in January, down from 109 in December, which was the highest reading since April. Households appear to be a bit…

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GOP Pushes Stricter China Export Control, Cites Lax Enforcement

January 31, 2023
Bureau of Industry SecurityBusiness & MarketsCCPChinaeconomic policieseconomyPolicies & ImpactsPoliticsRepublicansUSUS-China relations
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Rep. Michael McCaul (R-Texas), the new chairman of the House Foreign Affairs Committee, is pushing for stricter enforcement of export controls on sensitive technologies that the Chinese military could access. In a Jan. 13 letter (pdf) to the U.S. Commerce Secretary Gina Raimondo, McCaul further requested licensing data that the Commerce Department’s Bureau of Industry…

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Biden Admin Plans to Borrow Another $1.2 Trillion Amid Debt Ceiling Standoff

January 31, 2023
Business & Marketsdebt ceilingeconomic policieseconomyExecutive BranchPolicies & ImpactsPoliticsUSUS economy
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The U.S. Department of the Treasury said on Monday that it expects to borrow $1.2 trillion over the first half of the year, broken down by $932 billion in the first quarter and $278 billion in the second quarter, the agency said. In the last three months of 2022, the Treasury borrowed $373 billion and ended the…

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Sen. Ted Cruz Introduces Three Bills to Accelerate US Energy Security

January 31, 2023
Business & Marketscongresseconomic policieseconomyenergyEnergy projectInvestmentpermitsPolicies & ImpactsPoliticsRepublicansTed CruzUSUS News
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Senator Ted Cruz (R-Texas) introduced three bills that would accelerate the issuing of oil and gas permits in order to make America energy secure again. The three bills announced by Cruz were first reported by The Daily Caller in an exclusive on Jan. 30. The first sponsored bill is titled the Energy Freedom Act of 2023, which is…

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Central Banks Bought the Most Gold Since 1967 Last Year, WGC Says

January 31, 2023
banksBusiness & Marketscentraleconomic policieseconomygoldGold and CommoditiesInternationalMarketsWGCWorld
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LONDON—Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold Council (WGC) said on Tuesday. The data underline a shift in attitudes to gold since the 1990s and 2000s, when central banks, particularly those in…

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Dollar Rises Ahead of Fed, but Set for 4th Monthly Drop

January 31, 2023
Business & MarketsCompanieseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON/SINGAPORE—The dollar ticked higher on Tuesday ahead of a raft of central bank decisions but remained on track for its fourth consecutive monthly loss. The Federal Reserve will set interest rates on Wednesday, followed by the European Central Bank (ECB) and Bank of England (BoE) on Thursday. Currencies struggled for direction overnight, with the euro…

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Oil Falls on Rate Hike Worries, Russian Export Flows

January 31, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell on Tuesday as the prospect of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China. March Brent crude futures fell by $1.01, or 1.19 percent, to $83.89 per barrel by 0920 GMT. The March contract expires on Tuesday and the more heavily traded April contract fell…

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