SYDNEY/LONDON—The euro slid on Monday after activity data in key economies came in much softer than expected, giving markets a jolt at the start of a week packed with central bank meetings at which investors expect rate hikes in Europe and the United States. The European common currency fell 0.4 percent to $1.1083, skidding after…
Oil Prices Steady as Rate Hikes Expected, Supply Tight
LONDON—Oil prices were steady on Monday as traders expected more rate hikes from U.S. and European central banks, but tightening supply and hopes for Chinese stimulus underpinned Brent at well above $80 a barrel. Brent crude futures rose 4 cents, to $81.11 a barrel by 0644 GMT. U.S. West Texas Intermediate (WTI) crude was at…
Weak PMIs, Spain Election Uncertainty Dent Sentiment
July 24, 2023
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London—World stocks slipped on Monday, with weak business activity data and an inconclusive election result in Spain weighing on sentiment in Europe ahead of a central bank-packed week for markets. German business activity contracted in July, increasing the likelihood of a recession in the second half of the year, the German Flash Composite Purchasing Managers’…
Oil Edges Higher, Buoyed by Tighter Supplies, China Stimulus
LONDON—Oil prices rose on Friday, buoyed by evidence of tightening supplies and economic stimulus in slow-recovering China. Brent futures were up 94 cents at $80.58 a barrel by 0955 GMT—rising as high as $1 earlier—while U.S. West Texas Intermediate (WTI) crude also climbed 94 cents to $76.59 a barrel. The supply deficit that had been…
Global Shares Subdued After US Tech Earnings Disappoint
July 21, 2023
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LONDON, SYDNEY—Global stocks edged lower on Friday after disappointing tech earnings sapped risk appetite, while the dollar soared against the yen. The MSCI World index of global shares, which has risen more than 16 percent this year, dipped 0.3 percent. Europe’s STOXX 600 was flat and Germany’s tech-heavy Dax slipped 0.3 percent. Following steep post-earnings…
Dollar Steadies After One-Two Punch From Aussie, Chinese Yuan
LONDON—The dollar held mostly steady against the euro and the yen on Thursday, but dropped against the Australian dollar after domestic job data beat expectations, and against the yuan, which received a lift from Chinese monetary authorities. The dollar is heading for its first weekly gain in nearly a month against a basket of currencies,…
Oil Edges Higher on Lower US Crude Stocks, Cautious Outlook
LONDON—Oil prices crept higher on Thursday as a lower-than-expected drop in U.S. crude inventories and a weaker demand outlook kept investors cautious. September Brent futures climbed 6 cents, or 0.1 percent, to$79.52 a barrel by 0929 GMT, while August U.S. West Texas Intermediate (WTI) crude gained 21 cents, or 0.3 percent, to $75.56 a barrel….
Stocks Shuffle Sideways, China Drips in More Support
July 20, 2023
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LONDON—World share markets shuffled sideways on Thursday as investors looked ahead to a clutch of key central bank meetings next week and disappointing earnings from Netflix and Tesla pushed Wall Street futures lower. There had been pockets of gains in Asia and in commodities markets overnight after China pledged some additional support for its economy…
Pound Slides After Cooler Inflation Data, Yen Under Pressure Again
LONDON/SINGAPORE—Sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as expected, while the latest dovish comments from the Bank of Japan caused the yen to soften. The pound dropped as much as 0.8 percent against the dollar to $1.2931, and also…
Brent Oil Hovers Over $80 as Inflation Worries Ease
LONDON—Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China’s pledge to reinvigorate economic growth and expectations the U.S. Federal Reserve will stop raising interest rates soon. Brent futures rose 38 cents at $80.01 a barrel by 0956 GMT, while U.S. West Texas Intermediate (WTI) crude was up 20 cents to $75.95 per…
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