LONDON—The euro fell on Tuesday, almost touching parity with the dollar, a threshold not crossed for two decades, weighed down by the likelihood of recession triggered by an energy crunch and an ECB rate rise campaign that lags far behind that of the Fed. The dollar index, a measure against six counterparts, with the euro…
Oil Slides on Strong Dollar and Weaker Demand Outlook
LONDON—Oil prices fell sharply on Tuesday on a strong dollar, demand-sapping COVID-19 curbs in top crude importer China and fears of a global economic slowdown. Brent crude futures were down by $4.78, or 4.5 percent, at $102.32 a barrel by 1112 GMT, having earlier sunk as low as $101.48. U.S. West Texas Intermediate crude was…
Euro on the Brink of Breaching Parity, Stocks Slide Again
July 12, 2022
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Business & Marketscommoditiescryptocurrencyeconomic policieseconomyglobalinflationMarketsrecessionstocks
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LONDON—The euro sank to within a whisker of parity with the dollar on Tuesday and stock markets fell as the prospect of further central bank tightening and worries about the health of economies worldwide unnerved investors. The dollar’s role as the safe-haven go-to currency for investors worried about the economic outlook has been burnished in…
Euro Flirts With Parity as Russian Gas Link Enters Planned Shutdown
LONDON—The euro tumbled towards parity versus the dollar on Monday as the biggest single pipeline carrying Russian gas to Germany entered annual maintenance, with flows expected to stop for 10 days. Investors are worried the shutdown might be extended due to the war in Ukraine, restricting European gas supply further and tipping the struggling eurozone…
Oil Drops on China COVID-19 Worries
LONDON—Oil prices fell on Monday in volatile trade, reversing some gains from the previous session as markets braced for new mass COVID-19 testing in China potentially hitting demand, a concern that outweighed ongoing concerns about tight supply. Brent crude futures fell $1.29, or 1.2 percent, to $105.73 at 0900 GMT, after climbing 2.3 percent on…
Food Prices Fall in June, Cereal Output Seen Slightly Higher, UN Agency Says
July 8, 2022
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Business & MarketscommoditieseconomyEuropeFoodglobalinflationInternationalMarketsUNUncategorizedWorld
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ROME—World food prices fell for a third consecutive month in June, but remained close to record high levels set in March, the United Nations’ food agency said on Friday. The May figure was previously put at 157.4. Despite the monthly decline, the June index was still 23.1 percent higher than a year earlier, pushed up…
Yen Cedes Knee-Jerk Gains After Abe Shooting, Euro-Dollar Hovers Near Parity
LONDON—Safe-haven demand briefly lifted the yen on Friday after former Japanese prime minister Shinzo Abe was shot while campaigning for a parliamentary election, while the dollar’s continued strength kept the euro hovering just above parity. The single currency has hit successive 20-year low this week on signs the eurozone economy will tip into recession, but…
Oil Heads for Weekly Loss as Recession Fears Trump Tight Supply
LONDON—Oil rose in volatile trade on Friday but was still heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle growth, while mass COVID-19 testing in Shanghai this week stoked fears…
European Shares Edge Higher Ahead of US Jobs Data
LONDON—European shares edged higher on Friday and were set for a small weekly gain as investors waited for U.S. jobs data to indicate the health of the world’s biggest economy, while recession fears receded slightly. Comments by U.S. Federal Reserve policymakers and news of Chinese fiscal stimulus on Thursday had improved sentiment, analysts said, but…
King Dollar Stands Tall as Recession Fears Churn Global Markets
NEW YORK—A cocktail of global growth fears, Federal Reserve hawkishness and euro weakness has boosted the U.S. dollar to its highest level in around 20 years, and some investors are betting there may be more gains ahead. The dollar index, which measures the greenback against six major currencies, is up 12 percent against a basket…
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