LONDON—Oil rose for a third straight day on Wednesday as investor concern eased about U.S. interest rate hikes and an industry report pointed to a drop in U.S. crude inventories. Comments from U.S. Federal Reserve Chair Jerome Powell on Tuesday were seen as less hawkish than feared, boosting risk appetite and weighing on the dollar….
Oil Rises for 3rd Day as Rate Hike Concerns Ease
February 8, 2023
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Shares Rise, Dollar Wobbles After Market Sees Powell Comments as Dovish
February 8, 2023
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LONDON/SINGAPORE—Shares globally jumped and most currencies rose against the dollar on Wednesday, as investors discerned a dovish tone in comments from Fed Chair Jerome Powell, though a policy tweak by the ECB meant European bonds sat out the rally. MSCI’s world share index rose 0.37 percent, heading back towards the nine-month high it hit in…
Dollar Rally Pauses Ahead of Powell Speech; Aussie Lifted by Hawkish RBA
The dollar eased on Tuesday after its rally the previous day, but still hovered near a one-month peak as traders raised their bets on how high the U.S. Federal Reserve would need to raise interest rates to tame inflation. The big mover on Tuesday was the Australian dollar, which surged as much as 1 percent…
Oil Rises on China Outlook, Supply Worries After Turkey Earthquake
February 7, 2023
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Oil prices rose for a second straight session on Tuesday, driven by optimism about recovering demand in China and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Turkey. Brent crude futures were up $1.78, or 2.2 percent, to $82.77 per barrel at 1042 GMT, while West Texas…
Global Stocks Mixed After Wall Street Sinks on Rate Fears
February 7, 2023
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BEIJING—Global stock markets were mixed Tuesday as traders looked ahead to a speech by Federal Reserve Chair Jerome Powell for clues to interest rate plans after Japanese wages rose and Australia’s central bank hiked its key rate again. London and Shanghai gained. Frankfurt, Tokyo, and Wall Street futures declined. Oil prices rose. Last week’s unexpectedly…
Dollar Surges on Robust US Jobs Data, While Lira, Yen Slump
LONDON—The dollar surged to a three-week high against the euro on Monday, with traders expecting the U.S. Federal Reserve to lift its benchmark rate above 5 percent to squeeze inflation after data showed the labor market remains strong. An earthquake in central Turkey and northwest Syria and a strong U.S. dollar added pressure on emerging…
Oil Prices Edge Higher, Interest Rate Outlook Limits Gains
February 6, 2023
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LONDON—Oil prices inched higher on Monday, recovering from an 8 percent fall last week to more than three-week lows, driven by expectations slower growth in major economies may limit fuel use. Brent crude futures rose 17 cents, or 0.2, to $80.11 a barrel at 0946 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped…
Global Shares Slide as Interest-Rate Risk Rises and Geopolitics Heat Up
February 6, 2023
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LONDON—Global shares tumbled on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger dollar and political turbulence hit risk-linked assets. Last week’s blockbuster U.S. jobs report sent investors scurrying to load up on dollars to the detriment of emerging market…
Dollar Slips as Euro Picks Up Ahead of US Jobs Data
LONDON—The dollar slipped on Friday as investors awaited the latest U.S. jobs figures, after jumping in the previous session following a raft of central bank decisions. The U.S. currency dipped against the euro, reversing earlier gains. The euro was last up 0.17 percent to $1.093, remaining far above September’s 20-year low of $0.953. The Federal…
Oil Steadies as Market Eyes China Recovery and EU Embargo
February 3, 2023
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LONDON—Oil prices steadied on Friday but were on track for a second week of losses as the market awaited further signs of fuel demand recovery in China and the impact of an EU embargo and price cap on Russian oil products. Brent crude futures fell 18 cents, or 0.2 percent, to $81.99 a barrel by…
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