Economic news

Thursday saw the dollar climb up as central bank emergency measures in Europe, Japan, the United States and Australia weren’t able to stop the wave of panic selling.   “There’s no buyers, there’s not much liquidity and everyone is just getting out,” head of research at Melbourne brokerage Pepperstone, Chris Weston said in a statement. […]

For the first time, in 7 years, Bitcoin had crashed deplorably due to the coronavirus outbreak. However, investors are wary of a more pertinent issue.    Electronically-triggered liquidations of leveraged positions had been found in Futures exchanges; these had been putting pressure on prices. Meanwhile, Spreads jumped between exchanges.  Furthering financial-related stress, investors were locked […]

Oil prices climbed up to 20% on Thursday after recovering from days of steep declines. However, analysts warn that the rally may be short-lived as coronavirus fears still threaten a recession. Brent crude gained 8%, or $2.10, at $26.98 per barrel, following a 13% fall on Wednesday. U.S. oil climbed 17%, or $3.44, at $23.81 […]

The New York Stock Exchange is set to close its trading floors and transition to electronic trading for the mean time after an employee and a trader tested positive for COVID-19. The two were last in the building on March 13, said NYSE owner Intercontinental Exchange Inc. NYSE is set to close some of its […]

The U.S. Dollar continued to climb against most major currencies on Thursday as a virus-driven impact on market volatility and tensing liquidity sent investors retreating to cash. The British Pound, against the Greenback drifted near its lowest since 1985. Meanwhile, the Aussie slumped to 17-year low and the Kiwi plummeted to an 11-year low as […]

U.S. Fed rolls out third emergency program to ensure liquidity in money market mutual funds The U.S. Federal Reserve on Wednesday announced its third emergency fiscal package to be introduced in two days. The credit program will offer loans to banks that offer as collateral assets bought from money market mutual funds. The newly-established facility […]

On Wednesday, Germany’s HDE retail association urged the government to give immediate state aid and tax relief so as to prevent the wide closure of businesses no matter how temporary. To date, the country had been losing 7 billion euros weekly.   In an interview, HDE President Josef Sanktjohanser had stated, “Massive loss of turnover […]

Global airlines are caught in a bind as the coronavirus outbreak reaches for their bottom dollar. They had slashed capacity by 90% and had even grounded fleets due to travel restrictions.   The ungodly spread of the virus had managed to take out 41%, or $157 billion, of the share value of 116 listed airlines […]

Tuesday saw the demand of the Trump administration for a $1 trillion stimulus package for the virus onslaught. Assumed to include $1,000 direct payments to individual Americans, this financial effort is seen as a way to soften the economic blows to the country as the coronavirus had already killed over 100 people in the territory. […]

US stock futures slid in Asian trade on Wednesday as pandemic fears grew on policy support to protect economies from fallout.  U.S. stock futures dropped 2.0%, following a 6.00% gain in S&P 500 on Tuesday, recovering half of its losses on Monday. S&P 500’s gain came after the coordination of global fiscal policies in order […]