LONDON—The euro’s losses deepened on Tuesday after data showing eurozone inflation hit a record high in May, but expectations the European Central Bank will soon hike rates kept the single currency on track for its best monthly performance in a year. Rising inflation is usually considered a precursor to tighter monetary policy. The ECB is…
Oil Bull Run Continues as EU Agrees to Ban Most Russian Oil
May 31, 2022
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LONDON—Oil prices extended a bull run on Tuesday after the EU agreed to a partial and phased ban on Russian oil and China decided to lift some coronavirus restrictions amid rising demand ahead of the peak U.S. and European summer driving season. Brent crude for July, which expires on Tuesday, rose $2.11, or 1.7 percent,…
Oil Surge Fans Inflation Fears, Dampens Stocks
May 31, 2022
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LONDON—European shares opened weaker on Tuesday and Wall Street was tipped for a fall, as surging oil prices fanned fears of further acceleration in global inflation, forcing the U.S. Federal Reserve and other central banks to keep raising interest rates. Markets ignored signs that China’s economic pain may be abating amid easing COVID-19 curbs and…
Dollar Resumes Slide as Stock Markets Tentatively Pick Up
LONDON—The U.S. dollar resumed its backward slide on Monday as risk appetite across markets tentatively strengthened, supported by more encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace. The dollar index—which tracks the greenback against six major rivals—is on track for its first monthly drop in five, as…
Stocks Rise, Dollar Struggles on Fed Bets
SYDNEY/MILAN—World shares rose on Monday and the dollar was pinned near five-week lows on hopes of an eventual slowdown in U.S. monetary tightening following sharp interest rate hikes in June and July. Helping to mellow the mood was news that Shanghai authorities would cancel many restrictions on businesses resuming work from Wednesday, easing a city-wide…
Dollar Drifts Up but Set for Biggest Weekly Drop in 4 Months
LONDON—The dollar edged higher on Friday but was on track for its biggest weekly drop in nearly four months as traders lowered Federal Reserve rate hike expectations amid signs the U.S. central bank might slow or even pause its tightening cycle in the second half of the year. A broad-based decline in U.S. Treasury yields,…
Oil on Track for Weekly Rise Amid Global Supply Concerns
LONDON—Oil prices edged lower on Friday but were on track for weekly gains, supported by the prospect of a tight market due to rising gasoline consumption in the United States in summer, and also the possibility of an EU ban on Russian oil. Brent crude was down 20 cents, or 0.2 percent, at $117.20 at…
World Stocks Eye First Weekly Gain in Eight Weeks, Dollar Hits 1-month Low
LONDON/BEIJING—World stocks were heading for their first weekly gain in eight weeks on Friday on a more upbeat earnings view while the dollar hit one-month lows after the Federal Reserve’s minutes suggested it could put the brakes on rapid rate hikes later this year. Optimistic U.S. earnings outlooks overnight from department store operator Macy’s Inc….
Dollar Edges Back Towards One-Month Low
LONDON—The U.S. dollar edged back towards a one-month low on Thursday, as minutes from the Federal Reserve’s May meeting contained few surprises, with most participants favoring additional 50 basis point rate hikes at the June and July meetings. The dollar index, which measures the currency against six major peers, was down 0.2 percent at 101.83…
Oil Climbs on Tight Supply, Prospect of EU Ban on Russian Supply
LONDON—Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. Brent crude futures gained 87 cents, or 0.8 percent, to $114.90 a barrel at 1001…
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