LONDON/SINGAPORE—The euro was set for its best week since mid January on Friday ahead of inflation data that will shape the ECB’s interest rate plans, while investor expectations U.S. rates are near peaking meant the dollar headed for a second consecutive quarterly loss. The European common currency was at $1.0883, down 0.2 percent on the…
Oil Dips, Set for Monthly Drop, Ahead of Key US Inflation Data
March 31, 2023
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LONDON—Oil prices dipped on Friday, with benchmarks heading for their weakest monthly performances since November, ahead of key U.S. inflation data which could give clues on future interest rate moves and the strength of the dollar. Brent futures, which have risen nearly 5 percent this week, were down 63 cents, or 0.8 percent, at $78.64…
Euro, Dollar Steady as Bank Fears Recede, Inflation in Focus
LONDON—The U.S. dollar and euro steadied on Thursday as concerns over the banking sector receded, while investors switched focus to inflation for more hints on central banks’ next rate moves. Inflation data from German states, used to calculate a preliminary inflation figure for the eurozone’s largest economy due at 1200 GMT, have started to come…
Oil Rises on US Crude Draw, Iraqi Supply Risks
March 30, 2023
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LONDON—Oil prices rose on Thursday on a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region. Brent crude futures rose 40 cents, or 0.51 percent, to $78.68 a barrel at 0926 GMT, while West Texas Intermediate crude rose 52 cents, or 0.71 percent, to $73.49 a barrel. U.S. crude…
Stocks Firmer as Investors Bet Banking Crisis Is Behind Them
March 30, 2023
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LONDON—A steadier tone in global stocks continued on Thursday as investors hoped the banking sector had turned a corner on its recent turmoil to help markets end the quarter on a positive note. The dollar and crude oil prices were stable, with calmer markets allowing investors to focus more on the economy, as Spanish inflation…
Shares Rise as Bank Support Emboldens Investors
March 29, 2023
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LONDON—Global shares rose on Wednesday, as investors took heart from a greater degree of stability in the banking sector, but the sense of optimism wasn’t robust enough to severely knock safe-haven assets like bonds or gold. Meanwhile, shares in Asia rallied on Wednesday after Chinese conglomerate Alibaba’s plans to split into six units lifted tech…
Dollar Steadies in Uneasy Market Calm
TOKYO/LONDON—The dollar edged up against most major peers on Wednesday, steadying after recent declines, and gaining sharply against the yen which was volatile as the end of the Japanese fiscal year approaches. The dollar index, which tracks the currency against six peers, gained 0.15 percent to 102.64. It has fallen for the past two sessions,…
Oil Gains for 3rd Day on Kurdish Supply Concern, Easing Banking Fears
March 29, 2023
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LONDON—Oil rose for a third session on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supply and as easing fears of a global banking crisis supported risk sentiment in the wider markets. Crude exports of 450,000 barrels per day (bpd) from Iraq’s semi-autonomous northern Kurdistan region were halted on…
Dollar Slips as Banking Sector Fears Ease, Yen Climbs
LONDON/TOKYO—The U.S. dollar fell slightly on Tuesday as receding fears of a full-blown banking crisis slowed demand for so-called safe haven assets. The yen rallied, despite traditionally also being a safe haven, with analysts pointing to a pick-up in flows ahead of the end of Japan’s fiscal year on Friday. The dollar fell as low…
Oil Extends Gains on Kurdish Supply Risks, Banking Relief
March 28, 2023
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LONDON—Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained. Brent crude futures gained 61 cents, 0.8 percent, to $78.73 a barrel by 1006 GMT. West Texas Intermediate U.S. crude was up 53 cents, or 0.7 percent,…
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