Economic news

Equity markets across Europe (.GDAXI), (.FCHI) opened higher, with the pan-region STOXX 600 index last up 0.35% (.STOXX), while U.S. equity futures were around 0.25% firmer . The more virulent Omicron variant remains a source of concern, with British Prime Minister Boris Johnson predicting a “tidal wave” of new instances of the coronavirus strain. Still, […]

Official data released on Tuesday revealed that Turkey’s economy increased 7.4% year on year in the third quarter, meeting forecasts due to the strength of retail demand, manufacturing, and exports. However, it did not alleviate concerns over policy setting. According to figures from the Turkish Statistical Institute, on a seasonally and calendar-adjusted basis, GDP increased […]

A highly monitored central bank survey revealed that the mood in Japan’s service sector hit a two year high. However, the expansion dragged manufacturing growth.  The Bank of Japan’s (BOJ) tankan survey revealed on Monday that the headline index evaluating big manufacturers’ sentiment was plus 18 in the fourth quarter of 2021, steady from the […]

U.S. banks are required to acquire written permission from their bank supervisors before engaging in certain activities that involve cryptocurrency, a key regulator stated on Tuesday. The Office of the Comptroller of the Currency said banks must show that they possess appropriate risk management tools before getting involved in activities like providing custody services for […]

Oil prices went down on Wednesday following a United States-led coordinated release of stocks from strategic reserves that allayed worries over tightness in global supply. Meanwhile, investors raked profits from the previous day’s rally ahead of the Thanksgiving holiday in the U.S. U.S. West Texas Intermediate ( WTI) crude futures edged down 0.2%, or 12 […]

Asia Pacific stocks dipped on Wednesday as investors anticipated the latest minutes and other data from the U.S. Federal Reserve meeting. Investors are also considering the risk that central banks will tighten monetary policies to tame inflation. In Japan, the Nikkei 225 plunged 1.07% by 9:36 PM ET (2:36 AM GMT) as markets reopened after […]

Gold edged higher on Wednesday even as the dollar recovered and New Zealand’s central bank announced a smaller-than-expected interest rate increase. Gold futures jumped 0.54% to $1,793.45 by 12:01 AM ET (5:01 AM GMT) but stayed below the $1,800 mark. The dollar, typically moving inversely to gold, rose on Wednesday and hovered near a 16-month […]

The U.S. dollar climbed to an almost four-and-a-half-year high against the Japanese yen on Tuesday. The greenback rose following U.S. Federal Reserve Chair Jerome Powell’s reappointment for a second term, boosting bets on higher U.S. interest rates. The dollar touched 114.8 yen after a 0.77% increase on Monday, approaching the previous week’s high of 114.97, […]

U.S. President Joe Biden nominated U.S. Federal Reserve Chair Jerome Powell for a second term on Monday. The nomination put the former investment banker in a position to continue the most significant revamp of monetary policy since the 1970s and finish guiding the world’s largest economy out of the pandemic crisis. Lael Brainard, the other […]

Oil prices edged lower on Tuesday, reversing the previous session’s gains amid talks that the U.S., Japan, and India will release crude reserves to ease prices despite the threat of weakening demand as COVID cases picked up in Europe. The U.S. Department of Energy is anticipated to announce a mortgage of oil from the Strategic […]