Economic news

The dollar hit a two-week peak on the yen on Friday, lifted by U.S. bond yields, which rose on the Fed’s aggressive new strategy to increase employment and boost inflation. Investors are also awaiting Japanese Prime Minister Shinzo Abe’s briefing later in the day as worries about his health raised concerns about economic relations with […]

Oil prices dropped on Friday as a massive hurricane hit key U.S. oil production in Louisiana and Texas without causing widespread damage to the facilities. U.S. West Texas Intermediate crude futures fell 0.1%, or 3 cents, at $43.01 per barrel. WTI is on course for a 1.6% climb this week, on its fourth straight week […]

Financial markets in Japan were shaken during afternoon trade after news revealed that Japanese Prime Minister Shinzo Abe would be resigning due to health reasons. The news came as investors still digested the U.S. Fed decision to shift its policy framework to focus on economic growth without any concern for rising inflation rates. The Japanese […]

Gold prices soared to a one-week high earlier on Thursday but later retreated after the U.S. Federal Reserve failed to reassure markets that it would pledge to continue a round of asset purchases. Gold futures for the December delivery on Comex fell by 1% ($19.90) to $1,932 per ounce, trimming most of its gains on […]

India’s virus-beaten economy is expected to suffer further for the rest of the year and will likely recover in early 2021. The forecast is likely as an upsurge in new virus infections outweighed a nascent recovery in consumption and business activity, a Reuters survey showed. As nationwide lockdown completely dragged business activity in the second […]

The S&P 500 and the Dow were seen upbeat, while the Nasdaq dropped on Thursday. This followed after investors’ sentiment was fuelled by the U.S. Federal Reserve’s new inflation scheme and its move to nurse employment in the United States. Meanwhile, encouraging medical findings to combat the coronavirus also supported the indexes. The S&P 500 […]

U.S. stocks were expected to fall on Thursday ahead of a key speech from Federal Reserve Chairman Jerome Powell later in the day. S&P 500 futures fell by 0.2%, trading 7 points lower, while Dow futures lost 0.3%, with contacts trading at 80 points at 7:10 AM ET (11:10 GMT). The Nasdaq Composite index gained […]

European shares traded lower earlier on Thursday, while the Dollar strengthened as investors eyed the Jackson Hole conference where U.S. Fed Chair Jerome Powell will deliver a key speech later in the day. The pan-European STOXX 600 fell by 0.1%, but still remained close to its two-week high. Meanwhile, Wall Street saw record highs on […]

On Thursday, Asian shares had reached two-year peaks right after Wall Street’s record run with cheap cash driving up big-cap tech titans. While this is the case, China and the United States continue to stir tension as the session moved forward. An increase of 0.1% was seen in MSCI broadest index of Asia-Pacific shares outside […]

The dollar fell near its lowest level this week on Thursday as investors turned to Fed Chairman Jerome Powell’s speech for hints that the central bank might change its policy framework to boost inflation. Powell is scheduled to give a speech at the annual central bankers’ conference later in the day, which will be held […]