Tag: global

Interest Rate and Recession Fears Knock Stocks and Oil

August 31, 2022
Business & Marketscryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Record-high inflation in the eurozone compounded recession fears stalking markets on Wednesday as central banks on both sides of the Atlantic prepared to raise borrowing costs for businesses and households again next month. Wall Street was set for a muted start as U.S. crude oil prices sank for a second day, trading below $90 a…

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ECB Bets Boost Euro, Dollar Slips From 20 Year Peak

August 30, 2022
Business & Marketscryptocurrencyeconomic policieseconomyenergyForexglobalGold and CommoditiesinflationMarketsrecessionstocks
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HONG KONG—The euro climbed past parity against a softening dollar on Tuesday, thanks to lower energy prices and the possibility of a super-sized European Central Bank rate hike. The European common currency was 0.41 percent higher at $1.00390, extending the previous day’s rally, albeit from near 20-year lows. “It’s about the ECB being priced far…

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Oil Tumbles on Inflation Woes, Iraq Exports

August 30, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes. Brent crude futures for October settlement fell $2.45, or 2.33 percent, to $102.64 a barrel by 1022 GMT, after climbing 4.1 percent on Monday, the biggest increase in…

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Shares Tiptoe Higher Amid Hiatus in Bad News

August 30, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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HONG KONG/LONDON—Shares crept up slightly and bonds held steady on Tuesday as investors awaited the next round of likely gloomy inflation data while also juggling concerns about Europe’s energy crisis, a looming recession, and more rate hikes. The pan-European STOXX index rose nearly 1 percent, led by bank shares as lenders were lifted by increased…

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Dollar Zooms Higher as Markets Brace for Higher for Longer Rates

August 29, 2022
Business & Marketscryptocurrencyeconomic policieseconomyenergyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar shot higher on Monday, briefly scaling fresh 20-year highs against a basket of other currencies, as Federal Reserve Chair Jerome Powell signaled interest rates would be kept higher for longer to bring down uncomfortably high inflation. The dollar index, which measures the currency’s value against a basket of peers, scaled a fresh two-decade…

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Oil Rises on Prospect of OPEC+ Supply Cut

August 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Monday, extending last week’s gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Arabia, top producer in the Organization of the Petroleum Exporting Countries (OPEC) last week raised the possibility of production cuts. Brent crude was…

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Stocks and Bonds Slump, Dollar Hot as Rate Fever Takes Hold

August 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks slumped on Monday as the growing risk of more aggressive interest rate hikes in the United States and Europe inflicted fresh pain on bond markets and pushed the dollar to new 20-year highs, just as recession fears mount. Federal Reserve Chair Jerome Powell, speaking at the Jackson Hole symposium on Friday, said the…

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Dollar Dips Ahead of Powell Speech

August 26, 2022
Business & Marketseconomic policieseconomyenergyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar dipped against other major currencies on Friday, ahead of U.S. Federal Reserve Chair Jerome Powell’s widely-anticipated speech at the Jackson Hole symposium. Traders are looking for clues on the U.S. central bank’s tightening plans to combat rampant inflation when Powell speaks at 1400 GMT. The dollar index—which tracks the greenback against six major…

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Brent Anchored Above $100 a Barrel, Heading for Weekly Gain

August 26, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose as much as $1 on Friday on signs of improving fuel demand, though an upcoming speech from the U.S. Federal Reserve chairman capped further gains. Brent crude futures climbed $1.53, or 1.54 percent, to $100.87 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 cents, or 1.3…

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World Stocks Steady, Dollar Ticks Up on Powell-Watch

August 26, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—World stocks were flat on Friday and the dollar edged up as traders and investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the gradient of the U.S. central bank’s rate-hike path. Investors have pared back expectations that the Fed could pivot to a slower pace of rate hikes, as U.S….

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