Economic news

The dollar steadied against most peers on Friday, but on course for weekly losses as investors await updates on the U.S. stimulus and post-Brexit trade talks.  The dollar index fell 0.03% in European trade, just above Wednesday’s seven-week low. It was down 0.7% for the week. The euro steadied at 1.1818 on the dollar, while […]

Oil prices held on to last session’s gains on Friday after Russian President Vladimir Putin said he would be willing to extend production cuts amid the coronavirus pandemic. Brent crude fell 1 cent to $42.45 per barrel after climbing 1.7% on Thursday. U.S. West Texas Intermediate slid 3 cents to $40.61 per barrel after a […]

Japan’s core consumer prices had seen two consecutive months of decline ended September. The plunge underscored a coronavirus-led contraction in demand, fuelling deflationary pressure in the world’s third-biggest economy. The country’s core consumer price index (CPI) recorded a 0.3% drop in September from a year ago, government data showed on Friday. However, the figure came […]

Global shares were seen restricted on Friday, indicating the markets’ cautious sentiment as the presidential election in the United States approaches. Moreover, investors’ position partly depended on the progress in U.S. stimulus talks. Futures for the S&P 500 recorded minimal losses before hitting a flat performance during their midday session. The day before, the underlying […]

Oil prices fell earlier on Thursday, continuing heavy losses from overnight as demand weakened with the resurgence of COVID-19 cases in North America and Europe. U.S. West Texas Intermediate (WTI) crude futures fell by 0.7% (27 cents), trading at $39.76 per barrel at 0127 GMT (9:27 PM ET), after it slumped by 4% on Wednesday. […]

The U.S. Dollar held its ground against most major currencies on Thursday as markets awaited a U.S. stimulus decision. The Dollar Index, which pits the Greenback against a basket of currencies remained mostly unchanged at 92.801 after reaching its lowest level since September 2. The Dollar saw losses after U.S. President Donald Trump and House […]

Half of small and medium-sized companies that provide nearly ⅔ of European jobs fear for their survival in the coming year, according to a survey by management consultancy McKinsey. The survey was done in August, before the second wave of coronavirus prompted a new set of restrictions on economic and social activity. The results came […]

A weak dollar, increasing risks of inflation, and demand driven by stimulus from major central banks will lead to a bull market for commodities in 2021, according to Goldman Sachs. The bank forecast the S&P/Goldman Sachs Commodity Index to produce a 28% return over a 12-month period. Precious metals are expected to produce a return […]

On Wednesday, Chipotle Mexican Grill Inc. (CMG.N) reported that its quarterly revenue went down by almost 18.6%. The American fast-food restaurant said that the company shouldered higher beef prices and overpriced delivery costs amid the coronavirus pandemic. According to IBES data from Refinitiv, the company’s sales climbed by 8.3% beating Wall Street’s expectations of a […]

On Thursday, Amazon Inc. (AMZN.O) announced that it would invest $100 Million in opening new warehouses in Mexico. The American multinational technology company stated that it would include Amazon’s first shipping centers outside the city in order to provide faster deliveries. Amazon said that it would be called fulfillment centers. The first one would be […]