Economic news

Shoppers in Britain increased their spending at the weakest rate since January in September. The slowdown was attributed to concerns about fuel shortage, according to a survey released on Tuesday. The British Retail Consortium said retail expenditure climbed only 0.6% in September, much lower than a 3.0% increase in August. A disruption in fuel supplies […]

New Zealand reported an improvement in its government finances on Tuesday. The development was owed to the country’s quick economic rebound. However, a new COVID-19 outbreak poses a risk on its recovery momentum. The New Zealand Treasury’s budget deficit stood at NZ$4.6 billion ($3.2 billion) in June. This was lower than a shortfall of NZ$15.1 […]

The dollar continued its gains on Tuesday morning in Asia, while the yen touched a new three-year low. Investors’ expectation that soaring energy costs will increase Japan’s demands for the dollar contributed to the yen’s decline. The dollar was also lifted by hopes that the United States will raise interest rates before its peers. The U.S. […]

The Bank of Korea held interest rates steady on Tuesday, taking a breather after its first hike in almost three years in August. However, the bank noted that further tightening could come as early as November to tackle rising inflation and household debt. The South Korean central bank kept benchmark interest rates flat at 0.75% […]

Gold went up on Tuesday in Asia after trading flatly durig its early session. The greenback also edged up over expectations that the U.S. Federal Reserve will start asset tapering in November this year. Gold futures jumped 0.16% to $1,758.55 by 11:36 PM ET (3:36 AM GMT). The dollar, typically moving inversely to gold, inched […]

Oil fell on Tuesday in Asia, its first decline in four days. The commodity took a breather following weeks of gains brought about by a rebound in global demand, with the gains contributing to energy shortages in economies from Europe to Asia, according to some investors. Brent oil futures slipped 0.12% to $83.55 by 10:56 […]

A Taiwanese official turned to Australia to help the former’s China-opposed bid of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The official said that Taiwan can boost high technology trade flow and demand for Australian minerals. Supporting Taiwan’s bid would also “send a strong message” to Australian businesses affected by China’s recent […]

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Asian shares fell as the dollar stood ground on Tuesday as a global energy shortage instigate fears of inflation, making the waters murky for investor sentiment prior to the U.S. corporate earnings season. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped by 0.9% in preliminary trade post the mild losses the U.S. Stocks incurred […]

Investors all over are caught in fears of stagflation which had caused inertia in global shares on Monday as bet that major banks tighten monetary policy encouraged bond yields and propped up the dollar to a near three-year peak versus the Japanese Yen. Brent oil prices went on their bullish run to reach a stop […]