SINGAPORE/LONDON—The dollar wavered near a seven-week high on Monday, as investors took stock of last week’s strong economic data and rapid reconsideration of where interest rates will peak. Data on Friday showed U.S. consumer spending rebounded sharply in January, while inflation accelerated. Traders now expect the Fed to raise interest rates to around 5.4 percent…
Oil Rises on Russian Supply Jitters
February 27, 2023
admin
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment
LONDON—Oil prices edged up in volatile trade on Monday, as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March, but a stronger dollar and fears of recession capped gains. West Texas Intermediate U.S. crude futures (WTI) traded at $76.68 a barrel, 36 cents, or 0.5 percent…
World Shares Mixed After Latest Wall Street Retreat
February 27, 2023
admin
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
0 Comment
BANGKOK—Shares gained Monday in Europe after retreating in Asia, where they tracked Wall Street’s latest decline. Last week, U.S. shares suffered their worst setback since early December. Reports on inflation, the jobs market, and retail spending have come in hotter than expected, leading analysts to raise forecasts for how high the Federal Reserve will have…
Yellen Says US Inflation Coming Down but Core Measures Remain Elevated
BENGALURU—U.S. Treasury Secretary Janet Yellen said on Friday that U.S. inflation was coming down but there was still more work to do to bring it in line with the Federal Reserve’s 2 percent annual target. Yellen also told reporters on the sidelines of a G20 finance ministers and central bank governors’ meeting near the Indian…
German Economy Shrinks 0.4 Percent in 4th Quarter, Weak Start to 2023 Seen
BERLIN—The German economy contracted more strongly than expected in the final three months of 2022, as inflation and the energy crisis took their toll on household consumption and capital investment. The German economy shrank by 0.4 percent in the fourth quarter of 2022 compared with the previous three months, the statistics office said on Friday….
‘Unsettling’: Inflation Accelerates Sharply to 3 Times Pace in Prior Month
Inflation accelerated sharply and more than expected in January to three times the pace logged in the prior month, suggesting the Federal Reserve’s fight to quell price pressures will be, in the words of one market analyst, “long and bumpy.” Prices rose by 0.6 percent month-over-month in January, as measured by the Personal Consumption Expenditures…
Wall Street Tumbles at Open as Inflation Data Fuels Fed Worries
Wall Street’s main indexes opened sharply lower on Friday as a surge in consumer spending and inflation in January sparked concerns that the Federal Reserve will stick to its hawkish stance for longer. The Dow Jones Industrial Average fell 154.72 points, or 0.47 percent, at the open to 32,999.19. The S&P 500 opened lower by…
Core Inflation Soars to Record High in Eurozone
February 24, 2023
admin
Business & Marketseconomic policieseconomyEuropeEuropean Central BankeurozoneinflationInvestmentMarketsrecessionRussia-Ukraine WarWorld
0 Comment
Core inflation soared to a record high in the eurozone in January, as the bloc’s energy crisis continues. The euro bloc is currently facing the worst energy crisis in decades, after the Russia–Ukraine war caused gas and oil prices to soar. Last month, Europe’s consumer price index showed inflation in the euro bloc hitting a…
Dollar Rises to Fresh 7-week High on Rate Outlook; Yen Slides
LONDON—The dollar index rose to seven-week highs on Friday, as investors prepared for U.S. interest rates to stay higher for longer after a set of strong U.S. economic data. The yen fell after a volatile Asian trading session, with incoming Bank of Japan Governor Kazuo Ueda saying it was appropriate to keep ultra-loose monetary policy….
Oil Gains as Russian Output Cuts Offset Rising US Inventories
February 24, 2023
admin
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
0 Comment
LONDON—Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States and concerns over global economic activity. Brent crude futures rose 89 cents, or 1.1 percent, to $83.10 per barrel by 1042 GMT. On the anniversary of Russia’s invasion of Ukraine,…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`