Economic news

Gold prices skyrocketed on Monday past the record $1,700 per ounce since 2012 after piling market fears of a pandemic and a sharp decline in crude prices led traders retreating for safe-haven assets. U.S. Gold Futures surged by 1.6% to $1,699.70 per ounce. Meanwhile, Spot gold prices closing with at a 1.5% high to $1,699.20 […]

U.S. stock futures declined sharply by 5% to its daily limit after a record-breaking, single-day drop in Crude Oil WTI Futures in thirty years fanned market fears of a credit crunch worldwide. Saudi Arabia’s move to increase oil production to above 10 million barrels per day and decrease its selling price came after Russia hesitated […]

Oil prices dropped nearly 25% on Monday, on its way to its steepest loss since 1991 as Saudi Arabia cut prices and planned for a big hike in crude output by April. Prices were down 31% after Saudi started a price war with Russia, which stopped from implementing further supply cuts agreed by OPEC in […]

An Australian newspaper reported on Monday that the government is launching to implement monetary measures by injecting A$10 billion ($6.6 billion) in circulation to battle the economic impact of the coronavirus spread. “The details of our fiscal response are still being finalized and we will be working with the colleagues in coming days to conclude […]

NEW YORK- Bear market and recession became two of the most used words in the financial landscape as investors reviewed the overall impact of the novel coronavirus and future ramifications this may inflict to global growth.   Investors also assessed its direct impact on asset. The fast-paced virus contagion brought sharp movements in markets across the […]

SYDNEY- Global shares plummeted on Monday as wary investors sought bonds to equalize the economic impact of the novel coronavirus. Oil followed trend and shed more than 20% after Saudi Arabia cut its official selling price. Investors anxiously resorted to 30-year U.S. bonds pushing it up neutral to 1%. Such followed as markets anticipated that […]

Bhutan had banned tourists for a span of 2 weeks due to a confirmed case of coronavirus. This comes from a report of a tourist that had been diagnosed upon entry of India, the Kingdom’s neighboring country. The virus-confirmed patient had only been identified as a 74-year old American who had flown from India on […]

Japan is set to lessen monetary policy this month, following sudden measures implemented by the Federal Reserve, as the virus outbreak threatens an economic recession. In a survey, 33 out of 38 economists anticipated an expansion on monetary stimulus by the Bank of Japan. Policymakers globally have been pressured to implement fiscal and monetary measures […]

Weak private spending extended to its fourth month in Japan’s struggling economy after a sales tax hike and unusually warm winter kept people from spending. Adding the recent virus outbreak, firms latch on to measures to keep business up. Japan has implemented measures to soften the impact on production and exports caused by global health […]

TOKYO- Asian shares and US stock futures sunk on Friday after another session of defeat was monitored in Wall Street. The frail activity was mainly from disturbance to businesses brought by the compounding virus contagion outside China. In line with this, larger COVID-19 spread sparked concerns of a prolonged economic drag. MSCI’s broadest index of […]