Oil Rises After Steep Losses, But Recession Fears Limit Gains
Oil prices rose on Wednesday, recovering a measure of sharp losses from the prior session, although fears of a global recession and signs of another major build in U.S. inventories kept gains limited. Crude prices have fallen into a holding pattern over the past...
Crude Oil Lower; Monthly Demand Reports in Focus
Oil prices fell Monday, consolidating after last week’s strong gains ahead of the release of demand forecasts from the OPEC and the IEA as well as a deluge of potentially influential economic data due this week. By 04:35 ET (09:35 GMT), U.S. crude futures...
Asia FX Rallies on China Reopening, Yuan at Over 4-Mth High
Most Asian currencies shot up on Monday, with the Chinese yuan hitting a four-month high after the country reopened its international borders, while hopes of a less hawkish rhetoric from the Federal Reserve also weighed on the dollar and supported regional units. The yuan...
Oil Surges As Speculation Over OPEC Cut Outweighs China concerns
Oil prices jumped on Tuesday as traders bet that recent weakness in the market will invite more supply cuts by the OPEC, while anti-government protests in China and hawkish signals from the Federal Reserve worsened the outlook for demand. Oil marked a volatile start...
Asia FX Rallies on China Reopening, Yuan at Over 4-Mth High
Most Asian currencies shot up on Monday, with the Chinese yuan hitting a four-month high after the country reopened its international borders, while hopes of a less hawkish rhetoric from the Federal Reserve also weighed on the dollar and supported regional units. The yuan...
Dollar Weakens in Wake of CPI Release; Yen Climbs Ahead Of BOJ
The U.S. dollar edged lower in early European trade Friday, continuing the previous session’s selloff after cooling U.S. inflation opened the way for the Federal Reserve to ease the pace of its interest rate hikes. At 03:05 ET (08:05 GMT), the US Dollar Index,...
GM Wants U.S. Treasury to Reconsider tax Credits for Cadillac Lyriq EV
General Motors said Friday it wants the U.S. Treasury to reconsider classification of GM's electric Cadillac Lyriq to allow it to qualify for federal tax credits. The Treasury and Internal Revenue Service did not classify the Lyriq as an SUV, meaning its retail price...
UBS has No Desire to Buy Credit Suisse, Chairman Tells Newspaper
UBS has no interest in buying fellow Swiss lender Credit Suisse, the bank's Chairman Colm Kelleher said in a interview published on Saturday. The former Morgan Stanley (NYSE:MS) president said he was focused on organic growth rather than acquisitions and expanding its business in...
U.K. Unemployment Rose Less Than Feared in December
The U.K. labor market stayed stronger than expected in December, with the number of benefit claimants rising only moderately. At the same time, wage growth in November, the last month for which data are available, grew more strongly than expected, rising 6.4% on the...
Asia FX Heads For Weekly Bounce, Dollar at 7-Mth Low on Easing Inflation
Most Asian currencies crept higher on Friday and were headed for steep weekly gains on the prospect of an eventual shift in the Federal Reserve’s hawkish stance, which also pushed the dollar to a seven-month low. The Japanese yen rose 0.1% to an over...