Economic news

The dollar plunged against the Japanese yen on Thursday before the release of data expected to increase claims for unemployment benefits in the US. Several American firms lay off employees due to the persisting virus outbreak. The pound fell against the euro and the dollar as the market remained wary of Britain’s ill-preparedness for a […]

Gold prices dropped on Thursday in Asian markets following a U.S. congress announcement reaching a deal to roll out a $2 trillion financial stimulus in a bid to bolster an economy heavily impacted by the coronavirus. Gold Futures was unable to maintain steady gains and last traded below 0.2% to $1,629.80 by 9:24 PM ET […]

Singapore’s economy contracted by 2.2% in the first quarter from a year earlier according to preliminary data released on Thursday. The decline went at the sharpest pace since the 2009 financial crisis which led the city-state to prepare for a recession. The data will likely dull business outlook and pile on fears that a fast-declining […]

MOSCOW – Russian President Vladimir Putin on Wednesday proposed a wide variety of unconventional emergency social measures to help families and organizations in the midst of the worldwide coronavirus outbreak, such as a week-long holiday for laborers and higher taxes on profits. During a live broadcast address to the country, Putin tried to console the […]

WASHINGTON – A group of thirty two U.S. states have a message for the world’s leading online platforms: “You are not doing enough to stop unreasonable pricing in the midst of the coronavirus crisis.” In a letter sent on Wednesday to Amazon.com Inc (AMZN.O), Walmart Inc (WMT.N), Facebook Inc (FB.O) and eBay Inc (EBAY.O) a […]

Oil prices slid on Thursday after three days of consecutive gains, despite risks of rapid decline in demand caused by travel cancellations and lockdowns amid the coronavirus pandemic. However, markets pin their hope on the $2 trillion US emergency stimulus to support economic activity. Brent crude futures was down 0.7% or 19 cents, at $27.20 […]

The Australian central bank bought semi-government bonds for the first time since the quantitative easing program launched to counter the pandemic and its impact. The Reserve Bank of Australia purchased A$2 billion ($1.2 billion) in semi-government bonds maturing in January 2026 to June 2030. As businesses in Australia stopped operations due to lockdown, the semi-government […]

The dollar slid for the third straight day on Wednesday as the US’ proposed fiscal stimulus package eased markets driven by demand for cash.  US senate majority leader Mitch McConnell said that the $2 trillion (1.70 trillion pounds) will be voted on Wednesday. The Australian dollar rose above the 60-cent mark and extended its gains […]

SINGAPORE- Oil prices continued its positive performance for third day on Wednesday. Crude rode bullish tide together with other financial markets on optimism that the U.S. Federal Reserve will soon implement large volume of stimulus package to minimize the economic impact of the coronavirus contagion. US West Texas Intermediate CLc1 was at $25.24 per barrel […]

SINGAPORE- The dollar reversed from underperformance and clocked in minimal gains on Wednesday as growing coronavirus statistics made investors wary.  Asian boards are fluctuating but currency movements were cautious compared to large volume of earnings monitored in stock markets. Such was from investors’ optimism over the possibility of a US stimulus package.  The sought-after dollar […]