LONDON—The euro weakened broadly on Thursday as disappointing German and French PMI data confirmed the eurozone economy is struggling to gain traction, prompting traders to trim bets on big interest rate hikes from the European Central Bank. High prices in the eurozone meant demand for manufactured goods fell in June at the fastest rate since…
Oil Extends Falls as Investors Assess Recession Risks
LONDON—A retreat in oil prices continued on Thursday as investors reassessed the risks of recession and how fuel demand will be affected by rising interest rates. Brent crude futures fell by $1.47, or 1.3 percent, to $110.27 by 0949 GMT, having dropped as low as $108.04 earlier in the session. U.S. West Texas Intermediate (WTI)…
Recession Fear Stalks Oil, Copper and Stocks
LONDON—Global markets fell on Thursday as investors worried that further rises in interest rates to quell decades-high inflation would tip economies into recession. The German economy, Europe’s largest, suffered a sharp loss of momentum at the end of the second quarter, according to the latest Purchasing Managers’ Index, while corresponding figures for France also showed…
Euro, Sterling Knocked by Global Growth Worries
LONDON—The euro and sterling fell on Wednesday as concerns resurfaced that interest rate hikes from major central banks to contain inflation run the risk of a sharp global growth slowdown or recession. Data showing British consumer price inflation hit a new 40-year high at 9.1 percent sent sterling down almost 1 percent to a near…
Stocks and Oil Tumble as Recession Fears Mount
LONDON—World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar. The enthusiasm that had given Wall Street its best day in over a month on Tuesday was…
Euro Higher as ECB Officials Affirm Rate Hike Plans, New Tool
LONDON—The euro rose on Tuesday, drawing support from the European Central Bank’s plans to raise interest rates to contain inflation, while the yen retested a 24-year low as the Bank of Japan’s ultra-loose monetary policy stance continued to weigh. The euro was 0.5 percent firmer at $1.0563 after ECB Chief Economist Philip Lane said the…
Oil Prices Climb on Supply and Demand Fundamentals
LONDON—Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.61, or 1.4 percent, to $115.74 a barrel by 0825 GMT. U.S. West Texas Intermediate (WTI) crude for July, which expires later on Tuesday, rose $2.29, or…
European Shares Rise, Dollar Slips as Market Selloff Pauses
LONDON—European shares opened higher on Tuesday, recovering slightly from last week’s 17-month lows as the selloff paused, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, recovering from last week’s sharp selloff which saw global equities tumble to their lowest since…
Euro Rises Despite French Election as Dollar Retreats
LONDON—The euro rose on Monday despite French President Emmanuel Macron losing an absolute majority in the country’s parliamentary election, as the dollar retreated against its major peers after hitting a 20-year peak last week. Macron’s centrist Ensemble coalition secured the most seats in the National Assembly but fell well short of an absolute majority needed…
Oil Prices Stable as Market Balances Recession Fears With Tight Supply
LONDON—Oil prices were stable on Monday, struggling to reverse last week’s losses as the market balanced tightening supplies with concerns about slowing global economic growth. Brent crude futures were down 38 cents, or 0.3 percent, at $112.74 a barrel by 1022 GMT. Front-month prices tumbled 7.3 percent last week, their first weekly fall in five….
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