LONDON—The dollar held onto gains against other major currencies on Wednesday, ahead of the release of minutes of the U.S. Federal Reserve’s July meeting that could give further clues about the pace of further interest rate hikes. The greenback has recovered the ground it lost since softer-than-expected inflation data last week led to investor bets…
Oil Slips to Six-Month Low as Recession Fears Weigh
August 17, 2022
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LONDON—Oil hit a six-month low on Wednesday after a brief rally as concerns about the prospect of a global recession that would weaken demand overshadowed a report showing lower U.S. crude and gasoline stocks. Figures on Wednesday did little to improve the economic backdrop, showing British consumer price inflation jumped to 10.1 percent in July,…
World Shares Edge Up Even as Inflation and Policy Concerns Linger
August 17, 2022
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World shares edged up on Wednesday taking comfort from strong U.S. retail earnings even though the UK’s highest inflation since 1982 and a rate hike in New Zealand reminded investors of the challenges facing the global economy. MSCI’s benchmark for global stocks was up 0.1 percent by 0829 GMT, extending its July recovery, although concerns…
China Growth Woes Boost Dollar, Weigh Down Aussie
SINGAPORE/TOKYO/HONG KONG—The safe-haven U.S. dollar hit a one-week high on Tuesday after weak global economic data, particularly in China, reignited global recession fears and weighed on risk-friendly currencies like the Australian dollar. The dollar index, which measures the greenback against six major peers, hit a peak of 106.81 in early European trading, regaining all its…
Oil Extends Losses as Weak Demand Outlook Persists
August 16, 2022
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LONDON—Oil prices fell on Tuesday as bleak economic data from top crude buyer China renewed concerns of a global recession and the market monitored talks on a reviving deal that could allow more Iranian oil exports. Brent crude futures fell 84 cents, or 0.9 percent, to $94.26 a barrel by 0953 GMT. WTI crude futures…
Stocks and Oil Shaky, Dollar Firms Amid Recession Fears
August 16, 2022
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SINGAPORE/LONDON—Stock markets struggled for direction on Tuesday as they grappled with worries over global growth, following weak Chinese and U.S. economic data that knocked oil prices and commodity-linked currencies. The dollar briefly hit a one-week high as investors piled back into the safe-haven currency, while the Aussie, euro, and Chinese yuan buckled. Europe’s benchmark STOXX…
Dollar Jumps on Safety Flows After China Data, Yuan Slips on Rate Cut
LONDON—The safe-haven U.S. dollar rose on Monday after a new batch of disappointing Chinese data bolstered global recession worries, while the yuan weakened following a surprise key rate cut by the People’s Bank of China. Chinese industrial output, retail sales, and fixed-asset investment all fell short of analyst estimates in data published on Monday, as…
Oil Drops as China Data Disappoints, Iran Talks in Focus
August 15, 2022
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LONDON—Oil prices fell by more than $3 a barrel on Monday on concerns over demand in China, the world’s largest crude importer, and ahead of Iran’s response to a nuclear deal proposal which could raise the country’s oil exports. Brent crude futures fell $3.49, or 3.56 percent, to $94.66 a barrel by 0945 GMT after…
Stocks Struggle as China Rate Cut Sends Oil Tumbling
August 15, 2022
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LONDON—Global shares struggled to advance on Monday while investors digested news of an unexpected cut in Chinese interest rates as data pointed to faltering growth in the world’s second largest economy, sending oil prices nearly 2 percent lower. Weaker U.S. stock index futures also weighed on sentiment, while a steadier dollar knocked gold. The MSCI…
Dollar Set for Weekly Fall as Markets Reassess Fed Rate Hike Bets
LONDON—The dollar rose on Friday but was still set for a weekly decline as traders looked for signs of U.S. inflation peaking. U.S. inflation figures on Wednesday and Thursday were lower than expected, boosting riskier assets such as equities and weakening the dollar, as markets interpreted the data as indicating the Fed could be less…
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