LONDON—Nagging recession and interest rate worries had Europe’s markets spluttering on Thursday, and the pound started to sag as Britain looked to put last month’s disastrous fiscal experiment behind it with an austere-looking budget. Trading got off to a choppy start as optimism about Siemens’ earnings and that the European Central Bank might slow its…
Shares and Pound Splutter Ahead of UK Budget
Dollar Gains Fizzle Out as Traders Reassess Risks From Poland
TOKYO/LONDON—The dollar on Wednesday traded just above multi-month lows against most majors as flows that had supported the safe-haven currency slowed after Joe Biden said a missile that caused an explosion in Poland may not have been fired from Russia. NATO-member Poland and Ukraine said on Tuesday the blast that killed two on the Polish…
Oil Prices Up After Incident Involving Vessel Off Oman Coast
LONDON—Oil prices rose on Wednesday, erasing earlier losses, after an incident involving a commercial vessel off the coast of Oman, but rising COVID-19 cases in China capped gains. Brent crude futures gained 65 cents, or 0.7 percent, to $94.51 a barrel by 0854 GMT, and U.S. West Texas Intermediate (WTI) crude futures rose 35 cents,…
Stocks Pare Losses, Dollar Falls After Biden Defuses Tensions Over Poland Blast
LONDON—Global stocks pared losses and the dollar fell on Wednesday after U.S. President Joe Biden told G7 and NATO partners that a missile blast in Poland was caused by a Ukrainian defense missile, dispelling fears that it originated from Russia. Initial relief among investors was enough to encourage some flows back into equities and commodities,…
Euro, Sterling, Swedish Crown Surge Amid Slew of Data, German ZEW
LONDON—The euro, sterling, and Swedish crown rose against the U.S. dollar on Tuesday as traders assessed a slew of economic data, including UK and eurozone job figures plus German economic sentiment. Sterling rose 0.6 percent to $1.1830, trading not far from a 2–1/2-month top at $1.1855 from Friday ahead of a tough government budget plan…
Oil Falls by Over $1 a Barrel on Chinese Demand Concerns
LONDON—Oil prices fell by more than $1 a barrel on Tuesday as rising COVID-19 cases in China renewed fears of lower fuel consumption from the world’s top crude importer. Brent crude futures fell $1.07, or 1.15 percent, to $92.07 a barrel by 1005 GMT after settling 3 percent lower on Monday. U.S. West Texas Intermediate…
Global Stocks Higher After US, Chinese Presidents Meet
BEIJING—Global stocks gained Tuesday after Wall Street gave back some of last week’s huge gains, the American and Chinese presidents met and China’s consumer spending shrank in a sign its economy is weakening. Frankfurt, Shanghai, Tokyo, and Hong Kong advanced, London was little changed while oil prices declined. Wall Street futures were higher, suggesting the…
IMF Says Global Economic Outlook Getting ‘Gloomier’, Risks Abound
WASHINGTON—The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. It blamed the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions and…
Dollar Edges Up as Fed’s Waller Cautions on Inflation
SINGAPORE/LONDON—The U.S. dollar steadied on Monday amid fading expectations of a less aggressive Federal Reserve interest rate hike after Governor Christopher Waller said the central bank was not softening its fight against inflation. A modest miss on U.S. inflation on Thursday put pressure on the dollar, which declined almost 4 percent in a week, marking…
Oil Falls $1 on China COVID-19 Surge and Firmer Dollar
LONDON—Oil prices fell on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer. Brent crude futures were down $1.01, or 1.1 percent, at $94.98 a barrel by 1030 GMT after gaining 1.1 percent on Friday….
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