Economic news

Asian stocks were mixed on Friday morning, putting an end to a rough week for the market. Investor sentiment remained unsure even as China rolled out efforts to recover from the COVID-19 pandemic. China reported a 3.9% increase in industry activity for April year-on-year, performing better than an Investing.com forecast of a 1.5% increase. However, […]

On Friday, the U.S. dollar was seen to be poised for weekly gains. The Australian dollar, on the other hand, had dropped by 1% this week due to the new wave of COVID-19 infections. Investors are on the fence with optimism for a speedy global recovery from the pandemic being dampened. Traders are thus compelled […]

An already-dim near-term U.S. economic outlook has grown murkier in the recently-conducted Reuters poll of economic analysts. Though recuperation is still possible, the U.S. economy may take a long time to fully regain its momentum. Recent records indicated the colossal damage of the coronavirus pandemic, with 4.4 million diagnoses worldwide and the U.S. unemployment rate […]

South Korea’s finance ministry pledged to provide intensive measures to control the recently-monitored hike in unemployment. The agency also emphasized the ever-increasing level of economic risks as local and global demand collapse. Latest records showed that the country’s unemployment rate retained its 3.8% standing in April. However, the employment rate dropped at its most rapid […]

Thursday morning saw the value of Gold gone up after U.S. Federal Reserve Chair Jerome Powell’s speech had inspired gloom among investors, compelling them to turn to the precious metal. Gold futures rose by 0.28% at $1,721.25 by 12:08 PM ET (5:08 AM GMT). Powell’s speech broadcasted on Wednesday warns of a seemingly worse U.S. […]

On Thursday, stocks had been recorded to have fallen whilst bonds remained to be in demand. These had happened due to apprehensions of the Coronavirus infecting anew coupled with a gloomy evaluation from the U.S. Federal Reserve head that economic recovery from the pandemic are not yet in the cards. “The path ahead is both […]

The dollar rose to a near three-week peak on Thursday after Fed Chairman Jerome Powell dismissed the prospect of adopting negative interest rates. Powell’s comments diminished risk appetite as investors rushed to the safe-haven dollar. Meanwhile, U.S. stocks reported their biggest two-day fall in over three weeks. The dollar index climbed 0.15%, at 100.30. The […]

Oil prices rose on Thursday after a sudden fall in U.S. crude stocks. However, further gains were capped amid a gloomy U.S. economic outlook and fears of a second coronavirus wave. Brent crude futures climbed 0.2%, or 6 cents, at $29.25 per barrel. U.S. West Texas Intermediate crude futures gained 0.7%, or 18 cents, at […]

Korean Air Co. Ltd. (003490.KS), South Korea’s largest airline and flag carrier, plans to sell new shares worth 1 trillion Won ($817 Million) in its biggest rights issue in 20 years. The company came up with self-rescue measures on Wednesday to overcome the liquidity crisis due to the pandemic. Korean Air will issue $79 Million […]

The European travel company TUI (TUIGn.DE) announced on Wednesday that it would continue its global operations in July and slash its workforce by roughly 8,000 jobs to reduce 30% of its costs amid the virus outbreak. In an effort to halt the further spread of the coronavirus, travel restrictions have been put in place, thus […]