Economic news

European shares rose on Monday on the back of a global recovery from the COVID-19 outbreak. In addition, investors were relieved after the U.S.’ response to China’s security laws were not as severe as many had predicted. U.S. President Donald Trump had commenced the ending of special treatment for Hong Kong to punish China. However, […]

British factory activity saw a sharp decline for the month of May, according to a survey conducted on Monday. However, the pace of the decline was much slower than that of April, when the COIVD-19 lockdown brought most of the economy to a near halt. The final IHS Markit/CIPS Manufacturing PMI for May was at […]

May had seen Japan’s manufacturing sector dropping at its most rapid pace since March 2009, a private sector poll showed on Monday. The sector’s inactivity was due to a slump in demand brought by the novel coronavirus crisis. Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 38.4. It placed lower than April’s […]

Risk currencies gained against the dollar on Monday as investors staked on signs of easing U.S.-China tensions and worldwide economic recoveries. The Australian dollar rose 1% to a three-month high of $0.6742. The dollar index neared an 11-week low after sliding 0.2% to 98.031. U.S President Donald Trump did not announce any plan to sanction […]

Oil prices fell on Monday as OPEC and its allies proposed a meeting to assess the need for additional record output cuts beyond June. Brent crude dropped 0.4%, or 15 cents, at $37.69 per barrel. West Texas Intermediate crude futures for the July contract lost 0.4%, or 13 cents, at $35.36 per barrel. The price […]

Australia’s economy is likely to have contracted in the first quarter as the novel coronavirus crisis drags the land down under to its first recession in three decades. Fifteen economic analysts foresee that the A$ 2 trillion economy will decline by 0.3% in the three months ended March. This will come as the country’s first […]

The Japanese yen climbed against major currencies on Friday as investors rushed to safe havens. This came ahead of U.S. President Donald Trump’s press conference on China’s push for the security law in Hong Kong. The dollar fell on the euro and the pound as it heads to a weekly loss against majors. However, the […]

Oil prices fell on Friday after U.S. inventory data reported weak fuel demand, while the U.S.-China tensions continued to weigh on the markets. Brent crude slid 0.7%, or 25 cents, at $35.04 per barrel. U.S. West Texas Intermediate crude dropped 1.6%, or 53 cents, at $33.18 per barrel. Both benchmarks are nearing their fifth-week gains. […]

Gold prices rose on Friday in Asia as tensions escalated between the U.S. and China over Beijing’s national security laws. China had approved to enact the laws in Hong Kong during the National People’s Congress on Thursday. U.S. President Donald Trump said he will reveal Washington’s response on Beijing’s decision later in the day.   […]

Asian stocks fell on Friday, closing at a sour note for May as escalating tensions between the U.S. and China dampened investor risk sentiment. U.S. President Donald Trump is set to reveal his response to Beijing’s national security laws at a press conference later in the day. China had approved the enactment of the laws […]