Economic news

The dollar recovered on Thursday morning in Asia following the United States’ Federal Reserve’s decision to start its asset tapering in November. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.15% higher to 93.998. The USD/JPY pair tallied an increase of 0.20% to 114.20. The AUD/USD pair jumped 0.12% to 0.7454, while the NZD/USD pair dropped 0.06% to […]

Gold edged higher on Thursday in Asia, recovering from its three-week low. Investors mulled over a “patient” U.S. Federal Reserve’s latest policy decision as the central bank prepares to begin asset tapering this month. Gold futures increased 0.68% to $1,775.95 by 11:44 PM ET (3:44 AM GMT). The dollar, typically moving inversely to gold, went […]

Oil prices extended their losses on Thursday, dragging U.S. futures below $80 per barrel following the agreement of Iran and world powers to resume nuclear talks this month. The resumption of the nuclear deal could lead to the removal of U.S. sanctions on Iranian oil, boosting global supplies. U.S. West Texas Intermediate (WTI) crude fell […]

China’s services activity grew at a quicker rate in October, lifted by the country’s strong demand. However, worsening inflationary pressures pose risks to business confidence for the coming year. The Caixin/Markit services Purchasing Managers’ Index (PMI) jumped to 53.8 in October from 53.4 in September. The latest figure was the strongest reading since July. A sub-index […]

Gold dropped on Wednesday in Asia as investors focused on the latest U.S. Federal Reserve policy decision. Investors will mull over the central bank’s plans to curb soaring inflation and assuage concerns about the economic recovery from the coronavirus pandemic. Gold futures edged down 0.30% to $1,784.05by 11:29 PM ET (3:29 AM GMT). The central […]

The dollar dropped on Wednesday morning in Asia, hovering close to the euro and yen’s peaks. Investors are awaiting the United States’ Federal Reserve’s move to start its asset tapering before its counterparts from Europe and Japan. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% lower to 94.070 by 12:30 AM ET […]

Oil edged lower on Wednesday in Asia as investors mulled over a huge build in U.S. crude oil stocks. The build in the stocks came even as the Organization of the Petroleum Exporting Countries (OPEC) also came under pressure to increase output. Brent oil futures dropped 1.29% to $83.63 by 11:48 PM ET (3:48 AM […]

The United States saw its manufacturing activity decline in October as industries grapple with a long delivery period of raw materials. The drop was reflective of the persistent supply chain disruptions’ impact oneconomic activity. The Institute for Supply Management (ISM) index of national factory activity slid to 60.8 in October from 61.1 in September. Manufacturing […]

Taiwanese President Tsai Ing-wen said Taiwan would try to gather support from economic leaders to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) pact during the Asia-Pacific group APEC meeting next week. Economic leaders from the United States, China, and Japan will meet virtually to talk about their plans on recovering from the […]

The dollar climbed on Tuesday morning in Asia but traded below its previous peaks as the Reserve Bank of Australia (RBA) released its latest policy decision earlier today.  The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase of 0.04% to 93.918 by 11:50 PM ET (3:50 AM GMT). The USD/JPY pair dropped 0.05% […]