Economic news

Tuesday morning saw the price of gold in Asia, effectively offsetting a number of its losses from a session before. The reported climb recorded after the U.S. Federal Reserve moved to buy individual corporate bonds through the secondary market that had effectively increased risk appetite. Gold futures went up by 0.51% at $1,736.05 by 12:17 […]

The dollar fell on Tuesday following the U.S. Federal Reserve’s announcement to begin broad buying of corporate debt, lifting appetite for risk currencies. The Fed said that it will start buying diverse investment grade U.S. corporate bonds on Tuesday. This was to ensure companies’ access to cash and guarantee credit market liquidity amid the pandemic. […]

U.S. retail sales are expected to post a record rise in May as 2.5 million Americans returned to work. However, the rebound is still small compared to the historic falls in March and April due to the lockdown measures. The monthly report for May is expected to show an 8.0% increase in retailers, exceeding the […]

Chesapeake Energy Corp. (CHK.N) said on Tuesday that it is preparing to file for bankruptcy as soon as this week after the pioneering shale oil driller missed an interest payment worth $10 Million due on Monday. The company’s stock was halted on Tuesday morning and its shares were down by 40%. Oil prices have doubled […]

The New York Stock Exchange (NYSE) announced that it would allow a limited number of market makers to return to the trading floor on Wednesday after nearly three months of closure due to the coronavirus outbreak. Designated market makers from 2,200 listed companies would be permitted to come back this week and they would have […]

After a series of rate cuts to cushion the economic impact of the pandemic crisis, the Bank of Japan held its rates steady on Tuesday to signal that the easing efforts made were enough to support growth. But the BOJ announced a welcome development for cash-strapped firms as the previously $700 billion worth of lending […]

Oil prices slipped on Tuesday as fears over a second wave of COVID-19 cases hurt an already-dwindling demand. However, hopes on output cuts extending limited the price drop. Brent crude fell by 0.4% (¢14) to $39.58 per barrel at 0027 GMT after it had gained 2.6% during the start of the week. Meanwhile, U.S. oil […]

Asian stocks rose earlier on Tuesday, surging overnight in U.S. markets after the Fed announced new measures in a bid to recover the U.S. economy from the COVID-19 virus. Japan’s Nikkei climbed by 3.42% at 10:16 PM ET (3:16 AM GMT), as investors await the Bank of Japan’s policy decision later in the day. Meanwhile, […]

Oil prices dropped on Monday as several countries reported new cases of infections, raising concerns of a second wave amid a recovery in fuel demand. Brent crude fell 2.4%, or 93 cents, at $37.80 per barrel. U.S. West Texas Intermediate crude lost 3.7%, or $1.33, at $34.93 per barrel.  After almost two months without fresh […]

The dollar gained, while commodity currencies dropped as investors turned away from risky currencies amid fears of a second coronavirus wave lambasting major economies including China, Japan, and the United States. Beijing reported new infections for the second day on Monday, while the United States posted 25,000 new cases on Saturday alone. The dollar index […]