Rate

Oil slides nearly 4% on heightened recession worries and a fresh 20-year high for the US dollar

6 days ago   |   By Business Insider

US oil exports jumped last week to a record high. George Frey/Getty Images
Oil prices slumped Friday and were on course to lose ground for the week.
WTI crude oil fell to a nine-month low and traded just above $80 a barrel.
Fears about global recession ramped up after this week's round of rate hikes by central banks.
Oil prices on Friday tumbled to a nine-month low as recession fears swept throughout global risk assets and the US dollar continued this year's ascent to reach a fresh two-decade high against major currencies. West Texas Intermediate crude fell as much as 3.8% to $80.35 per...
Read more ...

 

China's yuan tumbles near key threshold as dollar strength increases on aggressive Fed policy

6 days ago   |   By Business Insider

China Photos/Getty Images
The onshore yuan weakened 0.58% against the dollar Friday to 7.1193, Bloomberg data shows.
China's currency neared the lower limit of its daily trading band, while the dollar climbed thanks to a hawkish Fed.
The yuan was 1.8% below Beijing's reference rate, which allows a 2% move in either direction.
China's onshore yuan tumbled 0.5934% against the dollar to 7.1201 on Friday and neared the lower limit of its daily trading range, Bloomberg data shows. The yuan joined other top global currencies lower as the dollar continued to strengthen amid the Federal Reserve's...
Read more ...

 


Search by Tags

   Rate      Brent      Trading      Currency      Banks      Currencies      Bank      Markets      MI Exclusive      Oil      Wti oil      Brent Crude Oil      Commodities      Recession      US dollar index      DXY      Federal Reserve      Monetary Policy      Treasury yields      Russia      Ukraine      European Union      Bloomberg      Moving      China      Data      Yuan      Dollar      Inflation      Fed rate hike      Central Bank      People's Bank of China      Economy  


Swedes don't know if pipeline ruptures damaged power cable

Swedes don't know if pipeline ruptures damaged power cable

Swedish officials don't yet know if an undersea power cable that runs between Sweden and Poland was damaged when the Nord Stream gas pipelines ruptured in what Western... Read more ...

TikTok politics: Candidates turn to it 'for better or worse'

TikTok politics: Candidates turn to it 'for better or worse'

As TikTok's popularity has exploded, it's become more than just a place for viral dance challenges. Young voters are increasingly using the app to learn about politics... Read more ...

I have a work phone. Can I keep my phone number if I leave my job?

If you've used your company-issued phone for personal as well as professional purposes, leaving your phone number behind may cause some headaches. Here's how to navigate. Read more ...

NASA, hoping to extend life of Hubble telescope, looks to SpaceX

The space agency is studying a potential mission with SpaceX to boost the telescope, which has been in space for more than 30 years. Read more ...

TestGrid is a “one-stop shop” for testing apps at scale

Created by developer who needed to test apps at scale, TestGrid is an on-demand platform that lets users run tests on websites and apps across browsers, operating systems. The... Read more ...

UK fiscal watchdog to release analysis of tax-cutting plan

UK fiscal watchdog to release analysis of tax-cutting plan

The U.K.'s Office of Budget Responsibility says it will deliver an initial analysis of the government's economic plan on Oct. 7 following a meeting Friday with Prime Minister... Read more ...

Why some analysts think investors should buy Nike after its latest earnings...

Nike shares are trading at an attractive entry point even as the sportswear giant faces a slew of macro headwinds and extra inventory, some analysts says. Read more ...

Market bull Ed Yardeni rings the alarm on further Fed rate hikes, warning...

Ed Yardeni. Adam Jeffery/CNBC/NBCU/Getty Images Ed Yardeni warned the Federal Reserve is being too aggressive in fighting inflation. The veteran economist cautioned the central... Read more ...

ByeShopee is trending on Twitter after the ecommerce giant appointed a...

LONDON, ENGLAND - FEBRUARY 04: Toni Gonzaga attends an intimate lunch to launch Time With Alessandra Facchinetti for harlan + holden at Harry's Bar on February 4, 2020 in... Read more ...

A trove of Elon Musk's texts have been released. Here's everything we...

Happy Friday, readers! The air is getting cooler and Spirit Halloween stores have overtaken defunct big-box retailers, so you know what that means: It's nearly October. Today... Read more ...