Economic news

Positive risk appetite alongside a weaker dollar compelled oil prices to edge higher. Meanwhile, both Brent and WTI are steady at the upper end of their ranges; no threat of a breakout can be seen. Brent crude is at a resistance around $45.50, the lows of the past weeks of around $43.50 have now been […]

Friday saw Gold Futures gaining 0.03% upon trading within a short-term consolidation that had followed the metal’s plunge below $2,000. The safe-haven asset had actually reversed lower on August 7th, a more optimistic turnout compared to the previous forecast with the release Nonfarm Payrolls alongside other factors. Last Tuesday, the upward correction reached a high […]

The world’s largest firms will slash dividend payouts by 17%-23%, amounting to as much as $400 billion, according to a new report as the COVID-19 pandemic continues to put a dent on the world’s economies. Global dividend payouts have slumped by $108 billion to $382 billion for the second quarter of 2020, according to a […]

Gold prices fell once again earlier on Monday in Asia, continuing a consecutive second week of losses. Gold futures slipped by 0.36% to $1,940 per ounce at 12:25 AM ET (05:25 AM GMT). Meanwhile, stocks, which often moved inversely gold, gained in Asia on Monday. The U.S. Dollar remained steady at the start of the […]

The dollar fell in early London trading on Monday, while risk currencies rose and European markets opened higher. Analysts said that the pick up in sentiment was caused by the approved treatment for COVID-19 patients by U.S. regulators.  The global coronavirus death toll surpassed 800,000, with the United States at 170,000.  Asian shares firmed overnight […]

Crude oil prices steadied on Monday as storms hit the Gulf of Mexico, closing over half of the region’s oil production. However, prices were capped by rising concerns about fuel demand amid the coronavirus pandemic. Brent futures fell 0.1%, or 2 cents, at $44.33 per barrel. U.S. West Texas Intermediate crude lost 0.1%, or 2 […]

August had seen Ireland’s consumer sentiment declining. This followed after the implementation of local virus-related lockdowns and tighter nationwide measures, prompting people to reassess how long the coronavirus-led disruption will persist. The KBC Bank consumer sentiment index was monitored at 58.9 this month, placing lower than the 62.6 reading seen in July. However, the figure […]

Asian shares recorded two consecutive sessions of gains on Monday. This could be attributed to investors’ upbeat sentiment after the U.S. Food & Drug Administration (FDA) authorized the use of blood plasma from recovered patients as an option to cure the coronavirus. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.65%. The index is […]

The number of initial unemployment claims in the U.S. surged to 1.106 million, mounting on worries over a stalling labor market. Economists had forecasted a drop to 925,000 after the figure was revised from 963,000 to 971,000 in the previous week. The number of people who claimed for Pandemic Unemployment Assistance for the first time […]

Gold prices fell by another 1.2% on Thursday as more investors went on a selling spree as a strengthening Dollar kept buyers from supporting the yellow metal. Gold futures for December delivery on Comex fell by $23.80, selling at $1,946.50. The spot price for gold gained 1% ($18.97) to $1,947.93 at 03:00 PM ET (19:00 […]