MILAN/SHANGHAI—World shares were mixed on Thursday on persistent concerns over slowing economic growth and after the latest U.S. Federal Reserve minutes confirmed its intent to tighten monetary policy quickly. While Wall Street rallied after the minutes, which showed a majority of policymakers backed 50-basis-points rate hikes in June and July along with a unanimous view…
Dollar Off 1-month Low, Kiwi Cedes Post-Rate Hike Gain
LONDON—The U.S. dollar snapped a two-day losing streak on Wednesday as Treasury yields paused recent falls, its gain taking the edge off the euro as well as the kiwi dollar which had been lifted earlier by a hawkish central bank message. The Reserve Bank of New Zealand became the latest central bank to raise interest…
Oil Edges Higher on Tight Supply and Expected Demand Uplift
LONDON—Oil prices rose on Wednesday, buoyed by tight supplies and the prospect of rising demand from the summer driving season in the United States, the world’s biggest crude consumer. Brent crude futures for July rose for a fifth session running, gaining $1.69, or 1.5 percent, to $115.25 a barrel by 0940 GMT. U.S. West Texas…
Stocks Edge Up Before Fed Minutes, Dollar Off 1-month Low
LONDON—Stock markets and the dollar moved cautiously higher on Wednesday before the latest Federal Reserve meeting minutes, while New Zealand’s dollar soared as its central bank joined those now aggressively jacking up interest rates. Nerves about a global recession were jangled on Tuesday by weak U.S. housing market data, but European and Asian trading saw…
Bruised Dollar Hits New 1-month Low; Lagarde Boosts Euro
LONDON—The dollar hit a fresh one-month low on Tuesday as the euro extended gains while a broad selloff in stock markets failed to boost the U.S. currency’s safe haven appeal. Against a basket of its rivals, the dollar fell 0.3 percent to 101.79, its lowest level since April 26. The euro, which was the stand-out…
Oil Drops on Recession Fears and China COVID-19 Curbs
LONDON—Oil fell by almost $1 on Tuesday as concerns over a possible recession and China’s COVID-19 curbs outweighed tight global supply and expectations of a pick-up in fuel demand with the U.S. summer driving season. Investment banks including UBS and Goldman Sachs have cut their 2022 China growth outlooks. The head of the International Monetary…
Stocks Slump as Snap Cracks Rally, Lagarde Lifts Euro
LONDON—Shares slid worldwide on Tuesday as fears about weak earnings and slowing growth punctured the recent mini-rally, while hawkish remarks from European Central Bank Chief Christine Lagarde reminded edgy markets that rate hikes loom. Nasdaq futures lost 2.06 percent, with traders blaming an earnings warning from Snap which saw shares in the Snapchat owner tumble…
Oil Firms on Tight Supply as US Driving Season Looms
LONDON—Oil prices gained on Monday with U.S. fuel demand, tight supply, and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth. Brent crude futures rose $1.12 or 1 percent to $113.67 a barrel at 0912 GMT, while U.S….
World Shares Mixed as Wall Street Hovers Near Bear Market
World shares were mixed in cautious trading Monday after Wall Street dipped once again to the edge of a bear market. Benchmarks rose in Frankfurt, London, and Tokyo and fell in Paris and Hong Kong. U.S. futures and oil prices rose. Investors were awaiting minutes from the latest policy setting meeting of the Federal Reserve…
Euro Holds Near Five-Year Low as Potential Fed Hike Nears
LONDON—The euro held close to a five-year low against the U.S. dollar on Tuesday with the Federal Reserve expected to hike rates this week, while traders wait for European Central Bank President Christine Lagarde to give clues on her monetary policy plans. The Fed has taken an increasingly aggressive approach to monetary policy as inflation…
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