Hong Kong (AFP) - The euro sank to an 11-year low Monday but Asian equities largely recovered from early losses after an anti-austerity party won Greece's election, throwing its international bailout into doubt and raising fears it could leave the eurozone.
NEW YORK: Oil prices tumbled on Wednesday as traders weighed Greece's deepening debt crisis and a surprise increase in US crude-oil inventories. US benchmark West Texas Intermediate (WTI) for August delivery dived $2.51 to $56.96 a barrel, its lowest level in more than two months. Brent North Sea crude for August closed at $62.01 a barrel in London trade, down $1.58 from Tuesday's settlement. "The petroleum markets are back on the defensive, with ongoing uncertainty over Greek debt and solid US payroll gains" that helped push up the dollar, said Tim Evans of Citi Futures.
OTTAWA — In an environment of low-for-longer interest rates, and global economic uncertainty, the persistent concern of Canada’s monetary policymakers remains in its own backyard: household debt.
Even so, the Bank of Canada continues to be focused on other major risks to the country’s economy and financial system, as well as likely to be caused by external events — such as stresses in emerging economies, financial concerns in the eurozone and possible sharp increases in long-term interest rates.
Hong Kong (AFP) - Tokyo's stock market clocked up a ninth straight gain Wednesday thanks to a weaker yen while Shanghai jumped for a seventh session as investors bet on China unveiling more economy-boosting measures.
London (AFP) - Global oil prices tanked Wednesday to a 6.5-year low as a surprise jump in US crude inventories signalled weak demand in the world's top economy.US benchmark West Texas Intermediate for September delivery dived to $40.60 per barrel -- a level last seen on March 2009.
London (AFP) - The euro tumbled Tuesday towards a 12-year dollar low, hit by eurozone stimulus, growing US rate hike speculation and Greek debt concerns, dealers said.In morning London deals, the European single currency sank to $1.0735 -- the lowest level since mid-April 2003. The region's stock markets were lower.
CALGARY – As benchmark oil prices tumbled to new 11-year lows on Monday, a new report painted a grim picture of the outlook for energy prices next year and 2017.
Scotiabank Economics said that while other commodities are set to rebound in 2016, West Texas Intermediate oil prices would average “no more than US$40-45 per barrel for 2016 and US$45-50 for 2017.”
“I think 2016 will start off very low, below $40, and could be as low as $30 in the first quarter,” vice-president economics and commodity markets specialist Patricia Mohr said in an interview.
Hong Kong (AFP) - The dollar edged closer towards parity with the euro Thursday after the European Central Bank kicked off its stimulus programme this week, while Asian equity markets recovered slightly from a recent sell-off.
Hong Kong (AFP) - Asian markets tumbled Tuesday following painful losses in New York and Europe while the euro sat near nine-year lows as political uncertainty in Greece fanned renewed fears it could leave the eurozone.