Economic news

The dollar firmed on Thursday as a surge in coronavirus cases in the United States and new trade tensions prompted investors to a risk-off sentiment. The dollar index rose 0.1% to 97.27. The euro fell to 1.1246 on the dollar, while the British pound slid to $1.2411. New daily infections in the United States hit […]

Oil prices fell again on Thursday, following the 5% drop from the last session, as a record build in U.S. crude stocks and a surge in new coronavirus cases are feared to weigh on fuel demand. Brent crude futures slid 0.7%, or 30 cents, to $40.01 per barrel. U.S. West Texas Intermediate crude futures were […]

The Bank of Japan (BOJ) on Wednesday offered ¥8.28 trillion ($77.74 billion) in loans to financial institutions under its first phase of its new lending program. The move came in a bid to transfer funds to firms that have been heavily affected by the COVID-19 pandemic. The 3-month loans will be extended on Thursday through […]

Gold prices surged to their highest in almost 8 years on Wednesday as global shares showed signs of slowing amid the number of rising COVID-19 cases reeled in caution. Spot gold gained 0.2% to 1,770.92 per ounce after it had reached a record $1,773.00, its highest since October 2012 during early trade in Asia. Meanwhile, […]

Oil futures dropped on Wednesday as the build in U.S. crude inventories exceeded forecasts, raising concerns of oversupply. Brent crude lost 2 cents to $42.61 per barrel, while U.S. West Texas Intermediate crude futures slid 0.1%, or 4 cents, to $40.33 per barrel. U.S. crude stocks rose 1.7 million barrels last week, significantly bigger than […]

The dollar bounced on Wednesday after two consecutive days of losses as markets pin hopes for a fast economic recovery. The dollar index rose 0.2% as the appetite for risk currencies wore off in early European trade. The pound fell 0.3% and the euro 0.2%.  The kiwi lost almost 1% after the Reserve Bank of […]

Dell Technologies Inc. (DELL.N) said on Tuesday that it is examining options including a spinoff for its roughly $50 billion stakes in VMware Inc. (VMW.N) as the PC maker seeks to boost the value of its shares. Dell shares rose by 18% to $57.80 after rising by 1.5% in regular trading. VMware shares, which were […]

On Tuesday, Spirit AeroSystems Holdings Inc. (SPR.N) shares fell by 13% after its key supplier Boeing Co. (BA.N) revealed that the planemaker significantly reduced its orders for shipment this year. “Boeing indicates in the June 19 letter that the reduction is due to Covid-19’s impact and accumulated inventory of Spirit’s [Boeing 737] products,” the company […]

Asian shares recorded a four-month high on Wednesday brought by investors’ upbeat outlook for the global economy’s resumption. Meanwhile, investors’ sentiment grew even as cases of the novel coronavirus were seen reaching unprecedented levels. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%, reaching its strongest record since the virus crisis ravaged markets in […]

Wall Street’s three major indexes soared on Tuesday as improving economic data and the prospect of larger stimulus increased hopes of fast economic recuperation.  More so, the Nasdaq reached another record high backed by a jump in technology shares. The Dow Jones Industrial Average recorded a 0.5% jump while the S&P 500 closed its session […]