TOKYO—Global shares were mostly higher Wednesday, as investors watched for key inflation data likely to influence the Federal Reserve’s stance on interest rates. France’s CAC 40 added 0.4 percent in early trading to 7,420.32. Germany’s DAX edged up 0.4 percent to 15,709.27. Britain’s FTSE 100 surged 0.5 percent to 7,825.05. The future for the Dow…
Global Shares Trend Higher With Focus on Inflation Data
April 12, 2023
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Yellen Reassures US on Global Economy, Banking System
U.S. Treasury Secretary Janet Yellen attempted to reassure Americans about the state of the global economy at a press conference on Tuesday. While acknowledging the possibility of an economic downturn, she said she did not anticipate one and believes that the U.S. banking system remains strong. “I’ve not really seen evidence at this stage suggesting a…
Dollar Dips as European Markets Return From Break
LONDON—The dollar gave back the previous day’s advances against the euro and pound on Tuesday as traders turned their attention to U.S. inflation data due on Wednesday for signs of how close U.S. rates are to peaking. The euro was up 0.52 percent at $1.0918 and the pound rose a similar amount to $1.2439 as…
Oil Rises on China Stimulus Expectations, Weaker Dollar
April 11, 2023
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LONDON—Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia, and a drop in U.S. crude stockpiles. Brent crude futures rose 63 cents, or 0.8 percent, to $84.81 a barrel at 0840 GMT, while U.S. West Texas Intermediate futures gained 68 cents, or 0.9 percent,…
World Stocks Hold on to Upbeat Mood, Dollar Stalls
April 11, 2023
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LONDON—World stocks rallied on Tuesday, as traders held on to hope that interest rates will soon peak and come down later this year, even if the latest U.S. jobs data supported the case for a May hike from the Federal Reserve. Those hopes were fanned by an analysis in the International Monetary Fund’s latest World…
Yen Sinks as Rates Outlook Diverges; New Zealand Dollar Tumbles
TOKYO—The yen sank against major peers on Monday after U.S. payrolls data bolstered the case for further Federal Reserve rate hikes, highlighting a growing disparity with Japan where the central bank continues to pin the benchmark yield near zero. Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened U.S.–China tensions over Taiwan, with…
Oil Steadies as Tighter Supply Balances Growth Concerns
April 10, 2023
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LONDON—Oil steadied on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other OPEC+ producers balanced concern about weakening global growth that may dampen fuel demand. Crude last week jumped more than 6 percent, a third weekly gain, after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and…
World Food Prices Fall for 12th Month Running in March: FAO
ROME—The United Nations food agency’s world price index fell in March for a 12th consecutive month, and is now down 20.5 percent from a record high hit one year ago following Ukraine’s conflict. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 126.9 points last month against…
Dollar Bobs Near 2-month Low Ahead of Pivotal US Jobs Data
LONDON—The dollar seesawed around two-month lows on Thursday, as traders weighed up how pivotal U.S. jobs data coming out on a stock trading holiday might impact Federal Reserve policy, and unleash a potentially volatile market reaction. The closely watched U.S. non-farm payrolls report on Friday, when many markets around the world are closed, will follow…
Oil Heads for 3rd Weekly Gain After Shock OPEC+ Cuts
April 6, 2023
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LONDON—Oil remained on track for weekly gains on Thursday, with further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowing fears over global economic growth. Brent and U.S. crude have both gained more than 6 percent this week, heading for a third weekly gain after the Organization of the Petroleum Exporting…
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