Economic news

The dollar and the safe-haven yen fell on Thursday after hopes for a U.S. stimulus improved sentiment. Meanwhile, the possibility of negative rates weighed on the kiwi. The Japanese yen plunged to a three-week low of 106.11. The dollar fell against other currencies except the kiwi. The euro rose to $1.1770, while the risk-sensitive Aussie […]

Oil prices rose on Thursday as oil-refinery workers evacuated rigs in the U.S. Gulf ahead of Hurricane Delta. However, fuel demand worries persisted amid fading hopes for a U.S. stimulus and a build in crude stocks. Brent crude futures gained 0.2%, or 9 cents, at $42.08 per barrel after sliding 1.6% on Wednesday. West Texas […]

Sentiment in Japan’s services sector greatly advanced in September, recording its sharpest jump in 2-1/2 years, government data showed on Thursday. This indicated that the economy is slowly emerging from the coronavirus drag. Economy watchers, a survey for workers that gauges their proximity to consumer and retail trends, showed that workers’ confidence about the current […]

Asian share markets had seen a one-month high on Thursday. This followed after investors’ sentiment grew on encouraging reports about stimulus in the United States, with markets now pricing in a Democratic victory for the upcoming presidential election in November. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3%. The index had tallied its […]

Oil and gas workers evacuated from offshore production facilities as Hurricane Delta made its way towards the Gulf of Mexico. Oil producers had halted 57 of its production facilities in the U.S. Gulf of Mexico by Tuesday Oil companies have repeatedly evacuated and returned its workers from and to the region during the storm season, […]

Major development of Norway’s offshore oil and gas projects have been obstructed, with rising costs and delayed startups as the COVID-19 pandemic makes its way into the region, the government and oil company Equinor said on Wednesday. Costs of projects soared by 13.2 billion Norwegian Crowns ($1.4 billion) after lockdowns stalled construction sites at several […]

Singapore’s economic downturn eased in the third quarter as the city-state lifted coronavirus-driven restrictions. More so, in its next convocation, the central bank is expected to retain its current monetary policy. Gross domestic product is expected to record a 6.8% contraction from the same period a year ago, according to 11 economists who participated in […]

Asian share markets recorded a two-week peak on Wednesday. This followed even after Wall Street and commodity prices plunged on U.S. President Donald Trump’s decision to cancel stimulus talks with lawmakers. MSCI”s broadest index of Asia-Pacific shares outside Japan recorded a 0.4% gain, hitting its two-week peak. Australian shares greatly contributed to the jump, tallying […]

The dollar held its ground against most peers on Wednesday after U.S. President Donald Trump cancelled talks on a stimulus package with Democrat lawmakers, prompting a safe-haven bid. Trump’s abrupt decision to cancel stimulus talks several weeks before the presidential election increases risks for the shaky U.S. economy. Against the euro, the dollar stood at […]

Oil prices slid on Wednesday after U.S. President Donald Trump quenched hopes for another stimulus package to support the economy and on a bigger-than-expected rise in U.S. crude stocks. U.S. West Texas Intermediate crude oil futures dropped 2%, or 81 cents, at $39.86 per barrel. Brent crude futures lost 1.6%, or 70 cents, at $41.95 […]