Economic news

The dollar soared in European trade on Friday, reaching multi-week highs following the release of a slew of strong economic data and investors’ anticipation for the monthly payrolls figures which hinted at the possibility of earlier-than-expected Federal Reserve policy tightening. The Dollar index soared 0.1% at 90.605, reaching a new three-week high. EUR/USD lowered 0.1% […]

European stocks steadied on Friday trade as investors traded cautiously ahead of U.S. jobs data. Euro zone’s benchmark edged higher and is en route to its third weekly gain as investors’ hope for economic recovery blooms. The pan-European STOXX 600 index advanced 0.2% by 0709 GMT, placing near its record high hit earlier this week. […]

Bitcoin had crashed more than 3% on Friday as Tesla head Elon Musk had tweeted yet again about the cryptocurrency. While this brought in speculations about the company’s investment withdrawal, the virtual coin is still on track for its strongest weekly earning in about a month as it tries to recover from a drop seen […]

Asian share markets traded weakly as they followed Wall Street’s overnight decline on Friday. The subdued performance was owed mainly to a strong U.S. rebound, with investors’ sentiment heavily dampened by the prospect of higher inflation and the Federal Reserve’s taper talks. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.3%, while Japan’s benchmark […]

In a bid to strike a trade deal within weeks, Australia and Britain held another round of negotiations, the British envoy divulged on Thursday. As part of its post-Brexit strategy to build stronger commercial and diplomatic ties in the Indo-Pacific region, Britain is pursuing a trade deal with Australia. The deal was believed to have […]

Gold slid on Thursday trade in Asia but lurked above its five-year highs following the release of China Caixin Services Data. Investors also await key U.S. economic data for hints about the economic outlook. Gold futures lowered 0.13% to $1,907.45 by 11:57 PM ET. However, it remained above the $1,900-mark. The dollar, which usually moves […]

China had seen a deceleration in its May factory activity, a private survey showed on Thursday. The decline was mainly attributed to dwindling overseas demand and surging costs, which brought in pressures for the country’s businesses. The Caixin/Markit services Purchasing Managers’ Index (PMI) was read at 55.1 in May, a figure lower than the 56.1 […]

Asian share markets placed below a three-month through, with China performing a shade weaker as investors grew cautious ahead of key U.S. figures. Meanwhile, crude prices tallied an upbeat session, putting oil indexes near their historic highs. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% increase. With a total of 711 points, […]

Australia’s economy hits pre-pandemic levels as consumers and businesses spent lavishly, lifting the economy from the coronavirus drag, causing the country’s first recession in thirty years. The economy of the Land Down Under grew by 1.8% in the three months to March as indicated in the data released by the Australian Bureau of Statistics (ABS) […]

Gold subdued on Wednesday in Asian trade after hitting a five-month peak during the previous session as investors digest positive U.S. economic data and an increase in bond yields. Gold futures edged down 0.32% to $1,898.95 by 12:43 AM, scaling back below the $1,900-mark. The dollar, which usually moves inversely to gold, advanced on Wednesday […]