Economic news

Oil prices dropped on Tuesday, ending two straight sessions of gains after the passage of a U.S. infrastructure bill, Chinese exports, and the global post-pandemic recovery boosted fuel demand outlook. Brent crude shed 10 cents to $83.33 per barrel by 0410 GMT after adding 0.8% on Monday. U.S. West Texas Intermediate (WTI) also declined by […]

The dollar performed poorly on Monday morning in Asia. Investors are still trying to digest recent dovish monetary policy choices from major central banks amid markets’ volatile interest rate. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% lower to 94.310 by 12:24 AM ET (4:24 AM GMT). The USD/JPY pair jumped 0.19% to […]

Gold went up on Monday in Asia, reaching a two-month high as a weakening dollar gave it a boost. Gold futures rose 0.18% to $1,820.10 by 10:36 PM ET (3:36 AM GMT). The yellow metal’s futures hovered above the $1,800-mark after climbing to their highest level since September 7 earlier in the session. The dollar, […]

Japan is taking into account an economic stimulus package worth over 30 trillion yen ($265 billion) targeted at alleviating the impact of the coronavirus pandemic, a plan that would require issuing new debt, local news agency Kyodo News reported. Part of the spending will be taken from funds carried over from the previous year’s budget, […]

China’s October exports grew slowly but exceeded projections. The growth was attributed to surging global demand, easing power crisis, and improving supply chains. Based on the data, exports expanded 27.1% year-on-year in October, better than analysts’ forecasts of a 24.5% growth. However, it was lower than September’s reading of a 28.1% expansion. Pinpoint Asset Management […]

Oil edged higher on Friday in Asia, regaining earlier losses as the Organization of the Petroleum Exporting Countries and allies (OPEC+) snubbed the clamor for increased supply and elected to keep a more gradual return of production. Brent oil futures jumped 0.97% to $81.32 per barrel by 11:31 PM ET (3:31 AM GMT) after plummeting […]

Gold climbed up on Friday in Asia and was headed for a weekly gain. Investors were also mulling over recent policy decisions from the Bank of England (BOE) and the U.S. Federal Reserve. Gold futures crept up 0.06% to $1,794.65 by 11:58 PM ET (3:58 AM GMT). The yellow metal is on track for its […]

The dollar fell on Friday morning in Asia but was on track for its two-straight weeks of gains. Investors now expect the latest United States’ jobs report for hints on the Federal Reserve’s interest rate hike schedule. The U.S. Dollar Index Futures that measures the greenback against other major currencies declined 0.02% to 94.323 by 12:57 AM […]

Household spending in Japan dropped in September, intensifying expectations of an economic contraction in the third quarter. The decline came as consumers remained wary of the COVID-19’s impact. Government data on Friday showed spending shed 1.9% year-on-year in September, lower than August’s 3.0% decline. September’s reading was also better than economists’ forecast of a 3.9% […]

Japan saw its service sector activity expand for the first time in 21 months in October. The growth was driven by robust demand as consumer sentiment improved. The final au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) jumped to a seasonally adjusted 50.7 in October from 47.8 in September. This was the first time […]