The euro edged lower on Friday after European Central Bank officials sent mixed policy signals, while expectations of a 50 basis point rate hike from the Federal Reserve supported the U.S. dollar which briefly hit a new 25-month high. ECB President Christine Lagarde struck a dovish tone by saying the central bank might need to…
Oil Extends Losses on Growth Concerns and Shanghai Lockdown
LONDON—Oil slipped on Friday, burdened by the prospect of weaker global growth, higher interest rates, and COVID-19 lockdowns in China hurting demand even as the European Union considers a ban on Russian oil that would further tighten supply. The International Monetary Fund this week cut its global economic growth forecast while the U.S. Federal Reserve…
Euro Boosted by ECB Rate Hike Bets, Macron’s Debate
LONDON—A series of hawkish comments amplified bets that the European Central Bank would soon hike interest rates, lifting the euro to a one-week high on Thursday amid expectations French President Emmanuel Macron would win his reelection bid on Sunday. Joachim Nagel, president of Germany’s Bundesbank, joined fellow policymakers in saying the ECB could raise interest…
Oil Rises as Investors Focus on Lower Supply From Russia, Libya
April 21, 2022
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Business & EconomycommoditiescrisisEuropeglobalInternationalMarketsOilRussiaRussia-Ukraine WarstockssupplyUkraineWorld
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LONDON—Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1 percent, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 81…
Bond Bashing Resumes, Euro Cheers Macron-Le Pen Clash
April 21, 2022
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Business & EconomycommoditiesCompanieseconomic policieseconomyEuropeglobalMarketsRussia-Ukraine WarstocksWorld
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LONDON—Bond markets suffered another sharp sell-off on Thursday as investors bet on aggressive global interest rate hikes, while the euro climbed after French President Emmanuel Macron bolstered his weekend re-election hopes in a heated TV debate. MSCI’s world stocks index mustered only a modest move amid the prospect of higher global borrowing costs, but Paris…
Yen to Snap Record Losing Streak on Intervention Worries; Euro Jumps
LONDON—The Japanese yen briefly fell to a fresh two-decade low on Wednesday after the Bank of Japan stepped into the market again to defend its ultra-low interest-rate policy, drawing a sharp contrast with the United States where bond yields hit new highs. But the Japanese unit bounced in London trading as increased nervousness around verbal…
Oil Rebounds as Supply Concerns Dominate
LONDON—Oil prices rebounded on Wednesday as a drop in U.S. oil inventories and concerns over tighter supplies from Russia and Libya drove a recovery from the previous session’s sharp losses. Brent crude futures rose $1.46, or 1.4 percent, to $108.71 a barrel by 1139 GMT. The front-month WTI crude futures contract, which expires on Wednesday,…
Gains in Stocks Capped by Rise in Real Yields, Netflix Disappoints
LONDON—Stocks edged higher on Wednesday, but gains were capped by questions over how far real bond yields will rise as investors sifted through disappointing Netflix earnings and war continued in Ukraine. The STOXX index of 600 European companies gained 0.4 percent to 458.17 points. The MSCI all country stock index was 0.2 percent firmer. Investors…
Oil Dips in Volatile Trade Amid Demand Concerns, Supply Disruptions
LONDON—Oil prices slipped in volatile trading on Tuesday as investors weighed demand concerns against tight global supplies after Libya halted some exports and as factories in Shanghai prepared to reopen following a COVID-19 shutdown. Brent crude was down $1.41, or 1.2 percent, to $111.75 a barrel at 1028 GMT, after rising more than $1 to…
European Stocks Down, Yen Hits 20-year Low as US Hikes Loom
LONDON—European shares were lower on Tuesday, while yields on 10-year U.S. inflation-linked bonds were close to turning positive for the first time in two years, as the prospect of aggressive Fed tightening to rein in inflation kept investors on edge. Investors were also preparing for the next barrage of company earnings that will help them…
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