Market assumptions have shifted sharply. At the same time, the dollar‘s downward momentum has paused, implying that the US-backed currency may be regaining some of the strength it lost recently as interest rates moved. The euro has moved to $1.092 twice in the past two days but has stalled. Similarly, the sterling advanced to $1.24 …
Dollar gains momentum as euro and sterling stall Read More »
Oil prices were relatively stable after the U.S. dollar retreated ahead of the U.S. Federal Reserve’s crucial interest rate decision. Brent crude futures saw a 3% increase this week, rising to a total of 18 cents, or 0.25%, to hit $75.52 per barrel. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.25%, to …
The dollar fell to a five-week low ahead of the U.S. Federal Reserve’s policy meeting as investors await the central bank’s path amid global banking volatility. Investors are interested in whether the Fed will continue fighting sticky inflation or pause interest rate hikes amid recent challenges among banks, including bankruptcies and last-minute bailouts. The U.S. …
The dollar ended its longest losing streak 2-1/2 years after the Federal Reserve paused interest rate hikes. Meanwhile, the Swiss franc strengthened following the central bank’s additional increase. The Federal Reserve raised the benchmark funds rate by 25 basis points as widely expected but held back on the current hike needed in favor of some …
Oil prices retreated, halting a three-day rally, after a surprise rise in U.S. crude inventories and as the Federal Reserve underscored the dangers of a global hike. U.S. crude futures were trading 0.22% lower at $70.76 a barrel, while the Brent contract was back 0.22% at $76.56. Benchmarks posted gains in the first three days of …
The dollar retreated, and the sterling held steady. Traders said the banking crisis could put the Federal Reserve and Bank of England on hold from raising rates. Investors’ attention shifted to central bank meetings due this week after volatility in markets caused by the lack of stability in the worldwide banking sector. The Swiss franc …
Oil prices advanced from 15-month lows earlier in the day as Credit Suisse’s bailout eased fears of global banking sector turmoil that could weigh on economic growth and fuel demand. After initial volatility on Monday, sentiment in financial markets increased following UBS’s takeover of Credit Suisse. Brent oil prices advanced by 52 cents, or 0.72%, …
Oil prices rise as Credit Suisse bailout eases fears Read More »
Brent crude oil fell below $72 a barrel in domestic trade amid volatility in the banking sector. The Brent contract for May delivery was trading at $71.65 a barrel, down $1.33 from Friday’s close. WTI Nymex was 65.52 dollars per barrel in April, 1.23 less than the previous settlement. Oil prices have come under pressure …
The U.S. dollar advanced in early European trade, with safe-haven demand amid ongoing banking volatility and ahead of a Federal Reserve policy meeting scheduled for this week. The dollar index traded up 0.1% at 103.470. The dollar decreased in value during the night following the revelation of emergency liquidity actions by prominent central banks in …
The U.S. Dollar Edged Higher and What is the Reason Read More »
Oil prices were firm on Friday after a meeting between Saudi Arabia, and Russia cheered markets amid expectations of stronger Chinese demand. Still, it edged toward its biggest weekly decline since December as the banking crisis rattled global financial and oil markets. Brent crude futures were up $1.12 at $75.78 a barrel, up 1.5% on …
Oil prices firm despite banking crisis: OPEC+ meeting in focus Read More »
The dollar edged lower after major U.S. energy brokers, including the government and banks, dumped a key stake in regional lender First Republic Bank, restoring some confidence to investors. Thursday’s rescue of the First Republic lifted global risk levels on Friday as worries about global banks eased, paving the way for gains in the Australian …
Oil prices extended losses, trading near monthly lows in more than a year after the European Central Bank raised interest rates and tensions over the global banking crisis weighed on the outlook for demand. Brent crude oil futures were down $1.15, or 1.6%, at $72.54 a barrel. West Texas Intermediate crude futures were down $1.27, …
The euro advanced slightly, with small gains after the European Central Bank took steps to raise interest rates. However, the rate path in the coming period would depend on incoming statistics. The ECB had been increasing rates rapidly to tackle high inflation. However, the sudden failure of the Silicon Valley Bank in the US has …
The dollar advanced in early trade as the market turned its view on possible moves in US interest rates on Tuesday amid February inflation statistics. The US consumer price index retreated to 6%. Still, key parts of the report showed negative price increases quickly, showing the Federal Reserve’s lack of room to manoeuvre in response …
US interest rates and February inflation statistics boosted dollar Read More »
Oil extended its slide on Wednesday, falling 3.9% to its lowest level over a year as jitters over Credit Suisse rattled global markets and overshadowed expectations of a recovery in Chinese oil demand. After Credit Suisse’s largest investor announced that they would not be able to offer additional support to assist the Swiss bank in …
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