Economic news

Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales were estimated to have reached a total of A$29.7 billion ($21.19 billion) in June, recording a total of 8.2% […]

The dollar fell against its peers in early Asian trade as the debate between the Democrats and Republicans over the U.S. economic stimulus measures weighed on the market.  The euro rose to its strongest level in over a year after EU leaders agreed on a massive stimulus plan to support the bloc’s economy from the […]

Oil prices dropped on Wednesday as the inventory build in U.S. industry data exceeded expectations, while coronavirus cases continue to surge in the United States, the world’s biggest oil consumer. The American Petroleum Institute reported a 7.5-million-barrel increase in crude inventories last week compared with expectations for a 2.1-million-barrel decline.  Brent crude was down 0.7%, […]

Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus plans reach their expiry date in July. In the E.U., leaders have reached upon […]

The Dollar fell on Tuesday, with the Euro and the British Pound Sterling gaining strength on the back of news that European Union leaders have agreed to roll out additional recovery funds in the region. New hopes for a potential COVID-19 vaccine also benefitted other commodity currencies. The Dollar Index lost 0.1% to 95.718 at […]

The euro reached its highest level since early March after the European Union agreed on a deal for a massive stimulus package to support the bloc’s economy from the coronavirus pandemic. The deal was finalized after a round of compromises between the thrifty northerners and the more extravagant countries in the EU.  The deal lifted […]

Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions rushed to counter the worst health crisis in a century. Brent futures gained 0.4%, or 15 cents, at […]

Asian share markets were seen upbeat on Tuesday. This was mainly from investors’ high-risk appetite backed by hopes for a coronavirus vaccine and the possibility of a deal by European Union leaders to save their ailing economies. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.5%, placing near its four-month high seen earlier this […]

The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export demand. From April to June, Asia’s fourth-largest economy likely declined 2.0% from a year earlier. This came to […]

The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC charged the investment banking company with circumventing the priority given to retail investors in the bond offerings […]