Stock Market

Story: Dollar Stays Strong as Oil Jumps on Global Tensions

By James Thorp

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The U.S. dollar won't budge from its recent highs, trading steady on Thursday as crude oil prices rocket higher because of mounting geopolitical tensions worldwide.

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Oil prices are going wild. Crude benchmarks smashed through new highs today, with Brent crude futures jumping 3.2% to $102.56 per barrel while West Texas Intermediate shot up 3.

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European Central Bank President Christine Lagarde came out swinging on Thursday, telling markets the ECB won't back down from its inflation fight.

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Federal Reserve Chair Jerome Powell basically said more rate hikes are coming. He hammered home the message during his Congressional testimony this week that inflation pressures…

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Asian currencies are taking a beating against the dollar's strength.

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Japan's yen crashed to 136.45 per dollar, hitting its weakest level in over a month. The Chinese yuan is getting hammered too, falling as the dollar steamrolls through currency…

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Oil-importing countries are feeling serious pain right now. Rising crude costs are crushing economies that depend heavily on energy imports, and growth forecasts are getting…

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Energy companies are ramping up operations like crazy. Oil sector firms are reporting increased drilling activity and production efforts to meet surging global demand.

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Emerging markets can't catch a break. They're getting hit with a double whammy of rising import costs and a stronger dollar, which makes their debt payments way more expensive.

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The Bank of England is back in the spotlight again. Analysts think more rate hikes are coming since UK inflation refuses to cool down.

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Friday's job market data will be huge for dollar direction. Investors are waiting for February's non-farm payroll numbers, and strong employment figures could push the dollar…

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Commodity markets are all over the place right now. Gold prices keep bouncing around as investors can't decide between safe-haven assets and riskier plays.

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The euro is struggling hard against the dollar, trading around $1.078 as ECB policies and external pressures weigh on the currency.

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Energy negotiations keep dragging on as countries try to lock in stable oil supplies while juggling environmental commitments.

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The Reserve Bank of Australia is navigating tricky waters too. Governor Philip Lowe hinted at possible policy changes with inflation mounting.

The Currency Analytics

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