Economic news

Japanese vehicle manufacturer Subaru Corp showed the public its first all-electric vehicle (EV), the Solterra, on Thursday. Solterra is the culmination of a two-year development project with the company’s largest shareholder Toyota Motor Corp. The launch of the sports utility vehicle (SUV) came amid a global-scale clamor for EVs as nations tightened environmental regulations in […]

Oil climbed up on Thursday in Asia as U.S. inflation continued to rise in tandem with increasing energy costs. The soaring inflation could trigger the release of more strategic crude stockpiles to pare down prices. Brent oil futures edged up 0.23% to $82.83 per barrel by 10:37 PM ET (3:37 AM GMT), while the U.S. […]

The dollar rose on Thursday morning in Asia, touching its highest rate versus the pound and the euro this year. Meanwhile, the yen plunged after the United States’ inflation soared to its highest level in a generation, fueling expectations on interest rate hikes. The U.S. Dollar Index that measures the greenback against other major currencies tallied an […]

The dollar recovered on Wednesday morning in Asia after recording losses for three consecutive days. Investors are still waiting for the United States’ inflation numbers for clues on the Federal Reserve’s interest rate hike schedule. The U.S. Dollar Index Futures that measures the greenback against other major currencies jumped 0.08% to 94.032 by 11:54 PM ET (4:54 […]

China’s factory gate prices surged at the fastest rate in 26 years in October. It exceeded economist’ projections, tightening profit margins for firms already grappling with rising coal prices and other commodity costs due to a power shortage. According to the National Bureau of Statistics (NBS), the producer price index (PPI) jumped 13.5% from a […]

Stocks in the Asia Pacific were mostly down on Wednesday as investors mulled over Chinese inflation data showing a buildup of inflationary pressure in the global economy. Investors are now awaiting further data from the U.S. Hong Kong’s Hang Seng Index fell 0.50%, while the Australian ASX 200 crept up 0.08%. Japan’s Nikkei 225 shed […]

Oil prices edged up on Wednesday, extending the previous session’s strong gains after industry data showed an unexpected decline in U.S. crude stocks last week. U.S. West Texas Intermediate crude futures picked up 23 cents, or 0.3%, to $84.38 per barrel at 0132 GMT. The benchmark contract was up 2.7% on Tuesday. Brent crude futures […]

British shoppers’ spending rate climbed in October despite worries over worsening inflation. Based on a survey conducted by the British Retail Consortium published on Tuesday, retail spending jumped 1.3% from a year ago in October. This was  arecovery from September’s 0.6% decline amid a panic-buying on fuel caused by a shortage of tanker drivers. The […]

The dollar extended its loss on Tuesday morning in Asia, trading below its 2021 peak touched last week. Investors await inflation figures for hints of the United States’ Federal Reserve’s inflation rate moves. The U.S. Dollar Index that measures the greenback against other major currencies dropped 0.11% to 93.942 by 11:59 PM ET (4:59 AM GMT). The USD/JPY pair […]

Gold fell on Tuesday in Asia but stayed near a two-month high reached during the previous session. The yellow metal’s losses were capped by a weakened dollar, as well as the insistence of key central banks that inflation will be temporary and that increases in interest rates would not be immediately required. Gold futures edged […]