Economic news

Australian retail sales soared to its highest level in March as the pandemic prompted people to purchase large volumes of food and other essentials. The increase might pull the economy from slipping to a sharp contraction in the first quarter. The Australian Bureau of Statistics on Wednesday showed its initial estimate of retail sales and […]

The dollar and yen recorded an upbeat activity on Wednesday.  Hefty gains were monitored as oil prices failed to relieve markets from anxiety and as the recent decline and slump in crude demand posed a weak economic outlook. The greenback traded stronger than other commodity currencies affected by oil inactivity, ending its performance near a […]

U.S. President Donald Trump announced that his administration was considering halting crude oil shipments from Saudi Arabia to help the local drilling industry. At a daily news conference, Trump said that his administration will “look at” the suggestion raised by Republican lawmakers. U.S. crude oil futures slumped for the first time in history on Monday, […]

U.S. oil prices recovered its losses on Tuesday, while Brent slid as the coronavirus crisis furthers demand slump. U.S. WTI crude for May delivery rose $1.36, at $38.99 per barrel. The June contract gained 4.6%, or 94 cents, at $21.37 per barrel. International benchmark Brent crude for June delivery fell 1.9%, or 48 cents, at […]

According to CEO Randy Garutti and founder Danny Meyer, Shake Shack Inc (SHAK) will return all $10 Million it received from the U.S. government as a part of the Small Business Administration (SBA) loan on Tuesday. The burger chain is the first major company to immediately return the budget handed by the government to aid […]

Millions of people have lost their jobs between mid-March and early April as Australia faces economic contraction on Tuesday amid the virus outbreak. A lot of businesses cease their operations, which indicate an increase in the natural rate of unemployment for the next few months. The Australian Bureau of Statistics (ABS) released figures that show […]

South Korea’s economy was monitored to have diminished at its most rapid pace since 2008. The contraction could be attributed to the inactivity of the virus-beaten business sector and slump in global demand, a Reuters survey showed on Tuesday. Gross domestic product (GDP) for the first quarter is expected to have contracted an adjusted 1.5%, […]

Australia’s economy may contract significantly, according to the minutes of the meeting released by Australia’s central bank on Tuesday. The sharp economic reversal is expected to occur in the latter part of the second quarter and may continue fluctuating up until September due to damages brought by the virus contagion.   The Reserve Bank of […]

Gold prices on Tuesday morning fell in Asian markets, surrendering gains from the previous session. The decline comes after WTI Futures plunged into negative pricing just before the contract’s Tuesday expiry. Gold futures had previously gained nearly 1% following the record slump in oil prices but later fell by 0.32% to $1,705.70 per ounce at […]

The Dollar rose on Monday as investors saw the greenback as a safe haven after oil prices plummeted to record levels the day before. Crude WTI Futures slid into negative territory for the first time to -$37.63 during an earlier trading session. The U.S. Dollar Index that tracks the dollar against a basket of other […]