LONDON—The U.S. dollar held its ground on Wednesday as traders waited for this week’s U.S. consumer price data to see whether it will confirm that inflation is in retreat. The euro flattened against the dollar after a European Central Bank policymaker said the cycle of interest rate increases was approaching its end, while ECB staff…
Oil Prices Broadly Steady Amid Rising US Stockpiles
January 11, 2023
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LONDON—Oil prices were broadly steady on Wednesday as market participants were pulled in different directions by an unexpected build in U.S. crude and fuel inventories, global economic uncertainty, and China reopening its economy. Moving in and out of negative territory, Brent crude futures were up 53 cents, or 0.7 percent, at $80.63 a barrel by…
Global Stocks Mostly Rise as US Inflation Report Looms
January 11, 2023
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TOKYO—Global shares were mostly higher Wednesday, boosted by a rally on Wall Street ahead of some potentially market-moving reports due later in the week. France’s CAC 40 rose nearly 0.2 percent in early trading to 6,879.36, while German’s DAX added 0.3 percent to 14,813.45. Britain’s FTSE 100 gained 0.2 percent to 7,710.23. The future for…
Dollar Stabilizes Near 7-Month Lows
SINGAPORE/LONDON—The dollar steadied near its softest in seven months against the euro on Tuesday after more hawkish comments overnight from two U.S. Federal officials helped it to stem its recent losses ahead of remarks by Fed chair Jerome Powell due later in the day. The euro was at $1.0736, little changed on the day, trading…
Oil Steady as Market Awaits Clarity on Fed Rate Hike
January 10, 2023
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LONDON—Oil prices were stable on Tuesday as the market awaited the Federal Reserve’s plans for rate hikes to gauge the impact on the economy and fuel demand. Brent futures for March were up 15 cents, or 0.19 percent, to $79.80 a barrel by 1036 GMT. U.S. West Texas Intermediate crude rose 32 cents, or 0.43…
Global Shares Ease After Fed Officials Dent Optimism
January 10, 2023
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LONDON—Global shares eased on Tuesday as investors took profit on the gains from the past two weeks after comments from two Federal Reserve officials injected a note of caution over the U.S. rate outlook, knocking equities, commodities, and other risk assets. The MSCI All-World index eased 0.1 percent, but remained in sight of Monday’s three-week…
Dollar Hovers Near 7-Month Lows After Jobs Data
LONDON—The U.S. dollar on Monday neared its lowest point in seven months against other major currencies after data suggested the Federal Reserve could slow the pace of its rate hikes, while China reopening its borders boosted riskier currencies. China’s offshore yuan neared its highest in five months against the U.S. dollar, while the Australian and…
Oil Jumps 3 Percent on Demand Optimism as China Borders Reopen
January 9, 2023
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LONDON—Oil extended gains on Monday, rising about 3 percent after China’s move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases to…
World Shares Up, Extending Wall Street Gains as US Wages Slow
January 9, 2023
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BANGKOK—World shares were mostly higher Monday following last week’s rally on Wall Street, where investors bet that slow U.S. wage gains may augur a cooling of the inflation that has led the Federal Reserve to hike interest rates. In Europe, Germany’s DAX gained 0.3 percent to 14,647.16 and the CAC 40 in Paris edged less…
World Food Prices Hit Record High in 2022
January 6, 2023
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PARIS—A surge in the cost of most food commodities last year, as the disruption caused by Ukraine’s conflict raised concerns of shortages, sent the U.N. food agency’s average price index to the highest level on record. The Food and Agriculture Organization’s (FAO) food price index, which tracks international prices of the most globally traded food…
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