U.S. applications for jobless benefits rose to their highest level in more than a year, but remain at relatively low levels despite efforts by the Federal Reserve to cool the economy and job market in its battle against inflation. Jobless claims in the U.S. for the week ending April 8 rose by 11,000 to 239,000…
US Jobless Claims Rise but Remain at Historically Low Levels
April 13, 2023
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Dollar Drops to 2-Month Low on Cooling US Inflation
LONDON/SINGAPORE—The dollar fell to a two-month low on Thursday after data showed U.S. inflation slowed sharply in March, bolstering speculation the Federal Reserve’s rate hiking campaign is either already finished or will be by May. As the dollar slipped, the euro rose to within a whisker of a one-year high, with traders betting the European…
Oil Stable as Market Weighs Tight Supply Against US Recession Risk
April 13, 2023
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LONDON—Oil prices were stable on Thursday as the market weighed the prospect of tight supply against possible recession in the United States, the world’s largest oil consumer. Brent crude fell 7 cents, or 0.08 percent, to $87.26 a barrel by 0935 GMT. U.S. West Texas Intermediate (WTI) was unchanged at $83.26. Both benchmarks had risen…
Stocks and Gold Cheer US Inflation Picture, While Dollar Slides
April 13, 2023
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LONDON—Global shares rose on Thursday, while the dollar held near two-month lows after U.S. inflation data suggested the Federal Reserve may soon be finished raising interest rates, which in turn kept gold above $2,000 an ounce. The euro hit a 2–1/2 month high at $1.103. Investors are positive on Europe, where blue-chip stocks hit a…
Bank of Canada Expects Canada to Avoid Recession, Some Economists Skeptical
News Analysis OTTAWA—Now is the time when the full effect of the Bank of Canada’s earliest interest rate hikes in 2022 are starting to take effect. While Canada’s central bank was caught off guard by a surprisingly strong first quarter of economic growth, it expects much weaker albeit slightly positive growth for the rest of…
The Inflation Tax Keeps Rising
Commentary They keep telling us that the Fed is fighting inflation. Month after month, they say that it is cooling, softening, easing, pulling back, losing its edge, calming down, and gradually going away. These claims have been consistent for 28 months. And yet when you look at the big picture, the dollar has lost nearly…
Wall Street Opens Higher as Inflation Data Eases Rate-Hike Worries
Wall Street’s main indexes opened higher on Wednesday as headline consumer prices cooled faster than expected in March, raising hopes that the Federal Reserve could hit a pause on its interest rate hiking cycle soon. The Dow Jones Industrial Average rose 79.42 points, or 0.24 percent, at the open to 33,764.21. The S&P 500 opened…
America’s Small Businesses Deeply Pessimistic About Economy
April 12, 2023
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U.S. small-businesses owners are deeply pessimistic about economy, as inflation, higher borrowing rates, and a tight labor market weighed on their outlook last month. The National Federation of Independent Business’s (NFIB) optimism index, in a report on April 11. fell to 90.1 in March from 90.9 in February. This marks the fifteenth consecutive month below the 49-year…
Dollar Slips Ahead of US Inflation Data
SINGAPORE/LONDON—The dollar dipped on Wednesday with investors expecting U.S. inflation data out later in the day to hold some clues on how soon U.S. interest rates will peak. Against a basket of currencies, the U.S. dollar index fell 0.1 percent to 102.02. The U.S. inflation data for March is forecast to come in at 5.2…
Oil Steadies as Market Awaits Key US Inflation Data
April 12, 2023
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Oil prices steadied Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on interest rate hikes. Brent crude gained 14 cents, or 0.2 percent, to $85.75 a barrel by 0917 GMT, while U.S. West Texas Intermediate rose 10 cents, or 0.1 percent, to…
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