Economic news

India’s most advanced sector, the service sector that provides job opportunities and heavily contributes to economic growth, declined in March. Such inactivity was brought by insufficiency in export demand and new business due to the coronavirus contagion which had already caused worldwide disruptions. March records have it that the Nikkei/IHS Markit Services Purchasing Manager’s Index […]

British consumer confidence declined the sharpest, hitting its largest drop in more than 45 years, the GfK survey showed on Monday. The pessimism was brought by the worldwide economic shutdown aimed at combating the further spread of the deadly respiratory disease. “Our COVID-19 ‘flash report’ shows a dramatic result with consumer confidence falling off the […]

The British pound will have recovered its losses against the dollar in a year. However, analyst forecasts a month ago were cut as the coronavirus continues to create chaos.  The pound declined in recent weeks as concerns about the pandemic’s impact on the economy drove investors to safer currencies and to liquidize assets in exchange […]

Fed officials said on Thursday that “recession is here” and the economy’s recovery relies on U.S. government aid and its effectiveness in combating the impact of millions of lost jobs. The Fed added that the duration of the recession was dependent on the course of the pandemic, noting that it could still kill a huge […]

The U.S. dollar rose slightly in Asia on Friday after crude oil prices surged by almost 25% in a previous session. The jump in oil prices came after U.S. President Donald Trump signalled on a potential truce between Saudi Arabia and Russia regarding their price war on Thursday. The Greenback, against a basket of currencies […]

Asian stock markets remained uncertain on Friday as it lost some of its record gains from a surge in oil prices in an earlier session. Japan’s Nikkei went up by a modest 0.32% by 10:33 PM ET (3:33 AM GMT) while South Korea’s KOSPI gained 0.48%. Losing its previous gains, Australia’s S&P/ASX index fell by […]

Gold prices fell on Asian markets on Friday after the U.S. released a report of rising unemployment claims. Gold Futures fell by 0.31% at $1,632 per ounce at 9:30 PM ET (2:30 AM GMT), losing gains from the previous trading session. The United States said on Thursday that a record 6.648 million people had filed […]

NEW YORK- Healthcare stocks ran bull as coronavirus pandemic boosted demand in the U.S. healthcare sector, home to businesses and firms necessary to combat the deadly novel coronavirus disease. Pharmaceuticals Inc gained 24% while Gilead Sciences Inc added 8%. Top advancers are pharmaceutical and biotechnology companies, including those that endeavored to produce COVID-19 vaccines and […]

SINGAPORE- The dollar is currently on track towards a 2% weekly increase on Friday. This followed after oil prices recovered and as investors resorted to safe havens amid the threat of economic contraction due to coronavirus contagion. The dollar found its momentum after fluctuating sharply last month. It edged up after becoming a safe-haven currency […]

MELBOURNE- Oil prices inched down on Friday, erasing some gains it initially acquired from its last session. Poor market activity was mainly from the output reduction deal that U.S. President Donald Trump signed with Saudi Arabia and Russia. However, the president showed no intention of cutting U.S. oil outputs. Brent crude futures shed 9 cents, […]