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Oil prices eased on Tuesday as Hungary resisted a European Union push for a ban on Russian oil imports, a move that would tighten global supply, and as investors took profits following a recent rally. Brent crude futures fell 22 cents, or 0.2%, to $114.02 a barrel by 0327 GMT, while U.S. West Texas Intermediate…
The Bank of Japan has no plan to allow long-term interest rates to move more widely around its 0% target to stem sharp falls in the yen, a central bank executive said on Tuesday, saying such a move would be tantamount to a rate hike. The BOJ currently offers to buy unlimited amounts of 10-year…
The dollar was down on Tuesday morning in Asia, with the Fed widely expected to further tighten its monetary policy as it begins its two-day meeting. The U.S. Dollar Index that tracks the greenback against a basket of other currencies was down 0.29% to 103.23 by 2:04 AM ET (6:04 AM GMT). It held just…
The dollar stood at its highest level since the early days of the pandemic on Wednesday and was heading for its best month since 2015, supported by the prospect of U.S. rate hikes and on safe-haven flows fanned by slowing growth in China and Europe. Fears for Europe’s energy security pushed the euro to a…
Japanese Finance Minister Shunichi Suzuki said on Tuesday the damage to the economy from a weakening yen at present is greater than the benefits accruing to it, making the most explicit warning yet against the currency’s recent slump versus the dollar. The yen’s fall has worsened imported inflationary pressures in Japan amid a spike in…
European stock markets are expected to open lower Tuesday, with investors wary ahead of the release of key economic data while the ongoing Ukraine conflict looks set to intensify. Global stock markets have struggled of late on concerns that soaring inflation will cause central banks to tighten monetary policy sharply, weighing on economic growth. The…
The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at American banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of U.S. dollars. Under sanctions put in place after Russia invaded Ukraine on Feb.…
Japanese shares led gains in Asian stocks on Tuesday as the Bank of Japan (BOJ) defended its ultra-easy monetary policy stance, while oil slid on fears of lower demand from China as Shanghai shut down to combat a COVID-19 surge. Japan’s Nikkei gained 1.1%, while MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.67%,…
Federal Reserve Chair Jerome Powell on Monday delivered his most muscular message to date on his battle with too-high inflation, saying the central bank must move “expeditiously” to raise rates and possibly “more aggressively” to keep an upward price spiral from getting entrenched. In remarks that sent financial markets scrambling to recalibrate for a higher…
Oil prices extended losses on Tuesday, sliding to a two-week low as ceasefire talks between Russia and Ukraine eased fears of further supply disruptions and surging COVID-19 cases in China fueled concerns about slower demand. Brent futures dropped $4.74, or 4.4%, to $102.16 a barrel by 0445 GMT after tumbling by more than $6 to…
Oil was up on Tuesday morning in Asia, remaining near 14-year highs. The U.S. could act alone to ban Russian oil imports, which eased worries of a wider disruption to crude supplies. The volatility comes as the black liquid hit 14-year highs on Monday after the U.S. said it was discussing a ban on Russian…
The rouble tried to regain some stability on Tuesday after its crash to an all-time low, while the U.S. dollar resumed its rise against major peers as traders paused for breath amid the fast-moving Ukraine crisis. A modicum of calm has returned to currency markets since officials from Russia and Ukraine held an initial round…
Oil prices surged on Thursday, with Brent breaching $100 a barrel for the first time since 2014, after Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy supplies. After Russian President Vladimir Putin authorized what he called a special military operation, Ukraine’s Foreign Minister Dmytro Kuleba said in a tweet…
Bristling tensions and looming laws in Europe could offer clues to two questions: Can bitcoin be a safe-haven asset? And can Russia emerge as a crypto superpower? The answer to the first, for now at least, is no; while fortress gold has risen 2.3% over the past week, as Western warnings about Russian aggression have…
European stock markets edged higher Thursday, boosted by strong earnings from German industrial giant Siemens ahead of the release of key U.S. inflation data. The quarterly earnings season has been the focus of trading in Europe so far Thursday, with Siemens, the largest industrial manufacturing company in Europe, leading the way. Its stock soared 7%…
European stock markets are expected to open in a muted fashion Thursday, with investors cautious ahead of policy setting meetings by both the European Central Bank and the Bank of England. The European Central Bank meets later Thursday and is widely expected to keep policy unchanged. However, pressure is mounting on the institution to act…
Bitcoin is beginning to reassert its dominance over challengers to its cryptocurrency crown. The original digital coin was assailed by thousands of new “altcoin” competitors in 2021 – from solana and polkadot to litecoin and dogecoin – raising the prospect of a rapid fragmentation of the crypto market. Yet bitcoin has stemmed its loss of…
Those clinging to a decade-old belief that the Fed will mount a rescue of tanking stock markets with a last-minute pushback on the timing of interest rate hikes may be left disappointed. Equities have nosedived and government bond yields have risen in the runup to Wednesday afternoon’s Federal Reserve policy decision which is widely expected…
The safe-haven yen and U.S. dollar rose on Tuesday while the risk-sensitive New Zealand dollar fell with the euro amid escalating worries about both a potential military conflict in Ukraine and a faster pace of Federal Reserve policy tightening. The Australian dollar rose briefly after strong consumer price numbers boosted the case for a Reserve…
Major cryptocurrencies are trading higher Thursday morning despite the Central Bank of Russia’s proposed a ban on the use, issuance, and mining of all cryptocurrencies. Cryptocurrencies have posted threats to Russian citizens’ well-being and the country’s financial stability, the Central Bank said in a report Thursday. Russia is among a list of countries that seeks…