TOKYO—European benchmarks were higher Monday after most Asian markets retreated, while the price of bitcoin hovered near $20,000. U.S. futures advanced and oil prices fell back early Monday. The price of the world’s most popular cryptocurrency remained near the psychological benchmark of $20,000 after bouncing during the weekend. At one point, bitcoin plunged nearly 10…
Yen Tanks 1.9 Percent After BOJ Sticks to Stimulus, Franc Climbs Again
LONDON/TOKYO—The Japanese yen fell as much as 1.9 percent on Friday after the Bank of Japan bucked a wave of tightening and stuck with its ultra-low interest rate stance, as currency markets looked set for another volatile session after a spate of rate hikes this week. The Swiss National Bank’s surprise decision to raise rates…
Oil Rises on Tight Supply Though Interest Rate Hikes Weigh
LONDON—Oil rose on Friday, supported by supply tightness and new sanctions on Iran, but prices were on track for a weekly decline amid interest rate hikes from major central banks that fuelled worries about a sharp economic slowdown. Brent crude was up $1.13, or 0.9 percent, to $120.94 a barrel at 1016 GMT, and U.S….
Global Stocks Rebound After Wall Street Fall on Economy Fears
BEIJING—Global stocks and Wall Street futures rebounded Friday after tumbling the previous day on fears economic activity will be depressed by interest rate hikes to cool inflation. London, Frankfurt, Shanghai, and Hong Kong advanced. Tokyo retreated. Oil prices rose to stay close to $120 per barrel. Wall Street’s S&P 500 index lost 3.3 percent on…
Swiss Franc Set for Best Day Versus Euro in Seven Years After SNB Hike
LONDON—The Swiss franc soared on Thursday after the Swiss National Bank delivered a surprise interest rate hike, triggering its biggest daily jump against the euro since the central bank ditched its currency peg in 2015. The SNB joined other central banks in tightening monetary policy to fight surging inflation in its first rate hike in…
Oil Prices Fall After US Rate Hike, but Tight Supply Still in Focus
June 16, 2022
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LONDON—Oil prices erased early gains to head lower on Thursday, a day after a fall triggered by a U.S. interest rate hike, though tight supply limited losses. Brent crude futures were down 45 cents, or 0.4 percent, to $118.06 a barrel by 0906 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 44 cents…
World Shares Mostly Lower as US Rate Hike Relief Rally Fades
TOKYO—Global shares were mostly lower Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation. European benchmarks and U.S. futures slipped after Tokyo and some other markets tracked Wall Street’s gains of the day before. Shares in New York rallied…
Euro Jumps as ECB Holds Unscheduled Meeting, Dollar Awaits Fed Move
LONDON—The euro jumped after the European Central Bank’s governing council said it would hold an unscheduled meeting on Wednesday to discuss the recent sell-off in government bond markets, hours ahead of a closely-watched meeting of the U.S Federal Reserve. The European common currency rose as to as high as $1.0508 following the announcement, which comes…
Oil Prices Stable Ahead of Expected US Interest Rate Hike
LONDON—Oil prices were stable on Wednesday as the market juggled fears of tight supply with concerns over fuel demand and global economic growth, ahead of an expected big hike in interest rates by the U.S. Federal Reserve. Brent crude futures for August were down 28 cents, or 0.2 percent, at $120.89 a barrel as of…
US Futures Rise Ahead of Fed Rate Hike Decision
NEW YORK—U.S. markets were poised to rebound Wednesday ahead of expected action from the Federal Reserve to raise interest rates in its ongoing effort to cool inflation. Futures for the Dow Jones Industrial Average rose 0.6 percent and futures for the S&P 500 gained 0.8 percent while oil prices dipped. Economists believe the Fed could…
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