LONDON—Oil prices were broadly steady on Thursday as the market weighed tight supply against demand fears, after a build in U.S. crude and gasoline stocks sent prices to multi-month lows in the previous session. Brent crude futures inched up 36 cents, or 0.37 percent to $97.14 a barrel by 0925 GMT, while West Texas Intermediate…
Stocks Steady as Markets Bet on Hefty Bank of England Hike
August 4, 2022
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LONDON—Strong earnings at Credit Agricole and Lufthansa lifted stocks on Thursday as tension over Nancy Pelosi’s visit to Taiwan eased and markets bet the Bank of England will hike interest rates by the largest amount since 1995 to quell inflation. The STOXX index of leading European companies gained 0.33 percent after German airline Lufthansa returned…
Global Cenbanks Lift Rates by Nearly 1,200 Bps in July
LONDON—Major developed and emerging market central banks around the globe delivered nearly 1,200 basis points in interest rate hikes in July alone, ramping up their fight against multi-decade high inflation with Canada surprising markets with an outsized move. Central banks overseeing five of the 10 most heavily traded currencies delivered 325 basis points of rate…
Dollar Dips as Investors Analyse Fed Rate Hike Hints
LONDON—The U.S. dollar edged lower on Wednesday but held on to most of the previous day’s gains, after leaping on Federal Reserve officials’ hints at aggressive rate hikes and drawing support amid a U.S.–China flare-up over Taiwan. The dollar index, which tracks the greenback against six major peers, has softened from a two-decade high in…
Oil Prices Dip Ahead of OPEC+ Meeting
LONDON—Oil prices dipped on Wednesday ahead of a meeting of OPEC+ producers at which producers are expected to keep output steady with spare capacity limited and against the backdrop of fears that a slowdown in global growth will hit fuel demand. Brent crude futures were down $1.34, or 1.3 percent, at $99.20 a barrel at…
Stocks Steady as Investors Weigh Taiwan and Fed Risks
August 3, 2022
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MILAN/TOKYO—World stocks eased slightly on Wednesday as markets weighed risks from U.S. House Speaker Nancy Pelosi’s visit to Taiwan and comments from Federal Reserve officials talking up the chance of aggressive interest rate hikes. MSCI’s benchmark for global stocks dipped by 0.1 percent by 0823 GMT, steadying after Tuesday’s drop that took the index off…
Yen Set for Biggest Run of Gains in More Than 2 Years
LONDON—The yen was on track for its biggest run of gains since the depths of the coronavirus crisis in March 2020, as rising U.S.–China tensions over Taiwan and deepening worries about a global economic slowdown boosted the appeal of safe-haven assets. Against the dollar, the Japanese currency was on track for a fifth consecutive session…
Oil Slips as Global Demand Concerns Weigh, OPEC+ Meeting Eyed
LONDON—Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide whether to increase supply. Surveys showed on Monday that factories across the United States, Europe, and Asia struggled for momentum in July as flagging global…
Stocks and Bond Yields Fall on Taiwan Tensions
August 2, 2022
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LONDON/TOKYO—Global stocks slipped and bond yields fell on Tuesday, compounding fears of a global recession, on concern that a visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan would further harm relations between China and the United States. Investors sought safer assets after China threatened repercussions if Pelosi visited the self-ruled island, which…
Dollar Sinks Below 132 Yen as Traders Boost Recession Bets
LONDON—The U.S. dollar declined to its lowest level in more than six weeks against the Japanese yen on Monday as investors ramped up bets that aggressive Federal Reserve monetary policy would tip the economy into a recession. With traditional market gauges of recession such as yield curve spreads pinned near their lowest levels this year,…
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