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London, United Kingdom | AFP | The euro dived to a new two-decade low against the dollar and European stock markets fell Tuesday as weak economic data raised fears of recession amid an energy crunch. The single currency tumbled to $0.9901, but later clawed back losses to return above parity with the dollar in afternoon trading as the greenback was hit by poor US economic data. The dollar had strengthened this week against other currencies […]
LONDON, United Kingdom (AFP) — World stocks mostly sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans to combat runaway inflation. Eurozone equities also tanked as spiking natural gas prices sparked fears that winter energy shortages could spark recession, helping push the euro back under parity against the greenback. Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused […]
NEW YORK, United States (AFP) — Oil prices fell Monday on the prospects of a return of Iranian oil to the market and data showing China’s economic recovery stuttering under Covid-19 restrictions. Stock markets were broadly steady and the dollar traded mixed as investors digested the latest developments, including the surprise move by China’s central bank Monday to slash interest rates as a raft of data showed industrial production and retail sales growth for July […]
HONG KONG, China (AFP) — Asian equities mostly rose Friday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and central bank interest rate hikes, while focus turns to key US jobs data later in the day. However, while markets have enjoyed a broadly positive week, optimism remains at a premium as traders fret over issues including the conflict in Eastern Europe, China’s military drills around […]
NEW YORK, United States (AFP) — Oil prices tumbled Monday following surprisingly weak China manufacturing data, while global stocks were mixed ahead of key jobs data, earnings and central bank announcements. China’s closely-watched Purchasing Managers’ Index of manufacturing activity shrank in July as the result of weak demand and the strict zero-Covid measures imposed in parts of the country. The index, a key gauge of manufacturing activity in the world’s second-biggest economy, came in at […]
NEW YORK, United States (AFP) — Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud the near-term outlook for crude demand. The contract for the international oil benchmark for September delivery tumbled 7.1 percent to $99.49 a barrel as the market focused on worries about further China Covid-19 restrictions and the slowdown in Europe and the United States. The US benchmark, West Texas Intermediate, […]
NEW YORK, United States (AFP) — Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to parity with the dollar. European stocks rebounded thanks to lower bond yields and bargain hunting, while US stocks also advanced, climbing after Federal Reserve minutes maintained a tough line on inflation. Europe’s benchmark crude oil contract, Brent North Sea, fell briefly under $100 per barrel in afternoon deals, following […]
Stock markets wobbled and oil prices sank on Friday over growing fears that inflation-fighting interest rate hikes by central banks could trigger recessions. Investors were shaken this week after the US Federal Reserve unleashed its biggest hike in borrowing costs for almost 30 years to tackle runaway consumer prices. This was followed by the fifth straight hike by the Bank of England and the first in 15 years by the Swiss central bank, underscoring the […]
HONG KONG, China (AFP) — Asian markets mostly fell Friday after another hefty drop in New York as central bank interest rate hikes fan fears of a recession, while the yen sank after the Bank of Japan said it would not yet follow its global peers in tightening policy. Gone is the optimism that flowed through trading floors immediately after the Federal Reserve on Wednesday announced its biggest rate increase for 28 years as global […]
HONG KONG, China (AFP) — Markets tumbled in Asia and Europe on Monday to extend a global rout while the dollar soared after a forecast-beating US inflation print ramped up bets on a more aggressive campaign of Federal Reserve interest rate hikes. Fresh Covid outbreaks in Shanghai and Beijing have also seen authorities reimpose containment measures soon after lifting them, leading to fears about the world’s number two economy. The possibility of more restrictions […]
HONG KONG, China (AFP) — Hong Kong stocks opened sharply lower Friday morning, extending a global sell-off after the European Central Bank painted a dim outlook for the region’s economy, while traders are awaiting a key reading on US consumer prices. The Hang Seng Index fell 1.58 percent, or 346.55 points, to 21,522.50. The Shanghai Composite Index shed 0.76 percent, or 24.77 points, to 3,214.18, while the Shenzhen Composite Index on China’s second exchange slipped […]
TOKYO, Japan (AFP) — Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation. The world’s largest cryptocurrency by market value fell as low as $29,764 in Tuesday trade, before recovering above $30,000, extending a recent collapse in price as investors desert assets viewed as risky. Bitcoin’s value has more than halved since a November surge […]
