LONDON—The dollar was on the cusp on Thursday of its highest in two decades after the Bank of Japan doubled down on its ultra loose monetary policy, while technology stocks gained on strong earnings, led by a rally in Facebook parent Meta Platforms. The yen dropped to a 20-year low and breached 131 per dollar,…
Dollar Hits Five-Year High, Growth Concerns Dent Euro
NEW YORK—The dollar hit a five-year high on Wednesday before the Federal Reserve next week is expected to hike rates, while the euro weakened on growth concerns after Russia cut off gas supplies to parts of the region. The dollar has gained on expectations that the U.S. central bank will be more hawkish than peers….
Oil Prices Dip as Europe Turns Away From Russian Oil, Dollar Soars
Oil prices dipped on Wednesday as a soaring dollar made barrels more expensive and Europe’s biggest economy Germany was speeding up plans to wean itself off Russian oil while coronavirus outbreaks clouded China’s economic outlook. Erasing earlier gains, Brent crude futures dipped 54 cents, or 0.5 percent, to $104.45 a barrel by 1259 GMT. U.S….
Euro Hits 5-year Low After Russia Halts Gas; Stocks Stage Small Rebound
LONDON—The euro dropped to its weakest since 2017 on Wednesday after Russia halted gas supplies to Bulgaria and Poland amid rising investor concerns for the regional economy, while stocks staged a small rebound after a mixed bag of corporate earnings. Russia’s decision to cut the gas flow to Bulgaria and Poland for rejecting its demand…
Dollar Roars to Two-Year High on Growth Fears and Rate Bets
LONDON—The dollar roared to a two-year high on Tuesday and the euro hit its weakest since March 2020 as concerns about the economic impact of China’s COVID-19 lockdowns and rising expectations for a big U.S. interest rate hike next week boosted the greenback. With markets facing many risks, including central banks’ tightening policy, just as…
Oil Rebounds on China Demand Concerns in See-Saw Trading
April 26, 2022
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LONDON—Oil prices rose modestly in volatile trading on Tuesday as the market weighed concerns over Russian supply and Chinese demand. Brent crude futures were up 41 cents, or 0.4 percent, at $102.73 a barrel at 1117 GMT, while U.S. West Texas Intermediate contracts were up 18 cents, or 0.2 percent, at $98.72 per barrel. Both…
Shares Fragile, Dollar Soars on Growth Scare and Fed Bets
MILAN—World shares steadied on Tuesday after a late revival on Wall Street, although global growth fears stoked by China’s COVID-19 curbs and fears of aggressive Fed tightening sapped risk appetite, lifting the dollar to new two-year highs. The MSCI world equity index was up 0.2 percent from six-week lows at 1117 GMT, helped by a…
US Dollar Perched at 2-year Highs as Risk Appetite Crumbles; Yuan Drops
LONDON—The U.S. dollar marched to a two-year high on Monday as a wave of risk aversion swept global markets, while the Chinese yuan was set for its biggest three-day losing streak in nearly four years on growing worries of an economic slowdown in China. With war in Ukraine entering the third month and growing concerns…
Oil Slides as Shanghai Lockdowns Stoke Demand Fears
LONDON—Oil slumped nearly 5 percent to its lowest in almost two weeks on Monday, extending last week’s decline as concern grew that prolonged COVID-19 lockdowns in Shanghai and potential increases to U.S. interest rates would hurt global growth and oil demand. “It seems that China is the elephant in the room,” said Jeffrey Halley, analyst…
Stocks, Oil Tumble Amid Interest Rate, Earnings Worries
LONDON—European stocks declined Monday, tracking losses in Asia as worries over interest rate hikes dominated an array of investor concerns. Asian markets suffered their worst session in over a month as worries that Beijing could soon be back in lockdown sent Chinese shares back to 2020 lows, and as the effects of Wall Street’s 2.5…
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