Economic news

Japan raised its economic outlook in June for the first time in two years. This followed after the government monitored that the economic drag brought by the novel coronavirus pandemic had nearly come to an end. The country’s report for June indicated that the economy is still under an extremely severe situation as the pandemic […]

Oil prices gained 1% on Friday after OPEC+ producers assured their commitment to the agreed production cuts and two major oil traders said that demand was recovering. Brent crude futures climbed 0.8%, or 35 cents, at $41.86 per barrel. U.S. West Texas Intermediate crude futures were up 1%, or 38 cents, at $39.22 per barrel. […]

Asian shares and U.S. stock futures were in rocky trade on Friday as fears of a second coronavirus wave dwarfed hopes for a fast economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.1%, while S&P 500 e-mini futures were up 0.21%. Chinese shares surged 1.15%, lifted by gains in the health care […]

Japan’s core consumer prices were seen struggling for two consecutive months in May. This increased deflation expectations and prompted policymakers to provide more economic reinforcements for the virus-beaten economy. The country’s core consumer price index (CPI) dropped a total of 0.2% in May from a year earlier, government data showed on Friday. This followed after […]

Bank Indonesia on Thursday has decided to cut its benchmark rate for the third time this year with signals that it may ease further. The central bank of SouthEast Asia’s largest economy will cut the 7-day reverse repurchase rate by 25 basis points to 4.25%, marking it as the lowest since 2018. Governor Perry Warjiyo […]

The U.S. Chamber of Commerce on Thursday urged China to increase its purchases of U.S. goods and services as agreed under a Phase 1 trade deal despite delays caused by the COVID-19 pandemic. The Chamber said the pandemic had clearly slowed progress for both governments, but there were reasons to be hopeful. It also welcomed […]

On Wednesday, the Trump administration said that it would push for a broad reset of “outdated tariff determinations” at the World Trade Organization (WTO) to arrange what it sees as years of unfair treatment of the United States. According to the U.S. Trade Representative Robert E. Lighthizer, the Geneva-based body was “a mess” and tariff […]

On Wednesday, S&P 500 closed lower due to the news about increasing coronavirus data and the prospect of a new round of economic lockdowns. Investors were divided on whether to take heart from signs of an economic recovery or fear the impact of the rising coronavirus outbreak. The S&P 500 and the Dow reversed earlier […]

Oil prices dropped 2% on Thursday as a surge in new coronavirus cases in the United States and China renewed fears about a slow recovery in fuel demand. Brent crude futures lost 1.5%, or 61 cents, at $40.10 per barrel. U.S. West Texas Intermediate crude futures fell 2.1%, or 80 cents, at $37.16 per barrel. […]

The dollar and the yen gained on Thursday as growing fears about a second coronavirus wave favored the appetite for safe-haven currencies. Several U.S. states reported a surge in new coronavirus cases and Beijing imposed travel restrictions in the capital to contain a second outbreak of the virus. Both served as a reminder of the […]