LONDON/TOKYO—Sterling weakened on Wednesday after hotter-than-expected consumer price inflation and fears of a deeper recession bolstered expectations of a less aggressive rate hike by the Bank of England in November. The U.S. dollar held at a 32-year peak against the yen and rose from a two-week trough against a basket of major peers, underpinned by…
Sterling Slips Amid Red-Hot Inflation, Dollar Holds at 32-year Peak Versus Yen
Oil Prices Tick Up in Volatile Trade as US Stocks Fall in Tight Market
October 19, 2022
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LONDON—Oil prices rose slightly on Wednesday amid plenty of caution as bullish signals like falling U.S. crude stocks and a generally undersupplied market were countered by bearish factors such as uncertain Chinese demand growth and falling gas prices. Brent crude futures for December settlement rose 60 cents, or 0.7 percent, to $90.63 a barrel by…
Global Markets Mixed After Wall Street Bounce on Strong Profits
October 19, 2022
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BEIJING—Global stock markets were mixed Wednesday after Wall Street rose on strong corporate profit reports. Paris, Frankfurt, and Tokyo advanced, while London, Hong Kong, and Shanghai declined. The yen stayed near a two-decade low near 149 to the dollar. Oil prices rebounded. The future for Wall Street’s S&P 500 index rose 0.3 percent after the…
Sterling Pauses After UK Fiscal U-turn Rally, Yen Scrabbles Off 32-year Low
LONDON—Sterling paused on Tuesday, after surging almost 2 percent the day before, as improved investor sentiment sent the safe haven U.S. dollar lower against major peers following the UK’s dramatic U-turn on its fiscal plans. On Monday, new finance minister Jeremy Hunt scrapped most of Prime Minister Liz Truss’s economic plan and scaled back her…
Oil Prices Fall on Fears of Economic Slowdown
October 18, 2022
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LONDON—Oil prices edged lower on Tuesday on fears of an economic slowdown and lower fuel demand from China as it persists with its stringent zero-COVID policy. Brent crude futures fell 41 cents, or 0.45 percent, to $91.21 a barrel by 0948 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 41 cents, or 0.48…
World Shares Mostly Gain After Rally on Wall Street
October 18, 2022
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BANGKOK—Stocks were mostly higher in Europe and Asia on Tuesday, tracking the latest rally on Wall Street. U.S. futures advanced and the dollar was trading near 149 Japanese yen. A release of China’s most recent economic growth figures due out Tuesday was postponed, removing one factor that had been expected to drive trading. No specific…
Sterling Edges Up on UK Fiscal Policy U-turn; Yen Struggles
SINGAPORE—Sterling inched cautiously higher following British Prime Minister Liz Truss’s partial reversal of her government’s economic plan, while the yen was pinned near a 32-year low as markets awaited signs of intervention from Japanese authorities. The pound gained 0.42 percent to $1.1225, after Truss said on Friday that Britain’s corporation tax will rise to 25…
Oil Steady as Recession Fears Counter Positive Chinese Signals
October 17, 2022
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LONDON—Oil prices were steady on Monday as China’s continuation of loose monetary policy was offset by fears that high inflation and energy costs could drag the global economy into recession. Brent crude futures rose 17 cents, or 0.2 percent, to $91.80 a barrel by 0915 GMT, recovering from a 6.4 percent fall last week. U.S….
Global Shares Mostly Higher as Markets Eye China Meeting
October 17, 2022
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TOKYO—Global shares were mostly higher Monday as investors kept their eyes on a weeklong Communist Party congress in China. France’s CAC 40 added 0.5 percent in early trading to 5,961.27. Germany’s DAX gained 0.5 percent to 12,498.72. Britain’s FTSE 100 rose 0.5 percent to 6,894.84. The future for the Dow industrials was up 0.7 percent,…
Dollar Edges Higher, Pushing Yen to New 32-year Low
LONDON/SINGAPORE—The dollar edged higher on Friday after dropping the previous day despite U.S. inflation accelerating, helping it hit a 32-year peak against Japan’s yen. Sterling slipped after a sharp rally on Thursday, as reports said British Prime Minister Liz Truss was preparing to sack her finance minister and carry out a major U-turn on the…
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