Economic news

The dollar rose on Monday amid renewed worries over COVID-19 restrictions in Asia, but investors are betting the greenback to fall as the Fed maintains dovish rates. The dollar rose 0.3% against the Aussie and 0.4% against the kiwi as commodity prices fell over new COVID-19 outbreaks in Taiwan and Singapore. The greenback firmed at […]

Oil prices were mixed, stuck in a tight range on Monday after the recovery of Colonial Pipeline’s operations eased worries over supply. However, new restrictions in Asia amid rising COVID-19 cases weighed on sentiment. Brent crude oil futures gained 3 cents to $68.74 per barrel, while U.S. West Texas Intermediate crude rose 0.1%, or 8 […]

Businesses in the United Kingdom boosted their search for new workers as pubs, restaurants and other hospitality and travel firms reopen on Monday. Adzuna’s survey revealed on Monday that the lack of foreign workers is aggravating a shortage of applicants, with over 10 jobs on offer for every job-seeker in some cities. Job posting on […]

European stock markets traded lower on Monday as investors deal with lowly Chinese economic data as well concerns over rising global inflation. Germany’s DAX futures contract lowered 0.3%. CAC 40 futures in France dipped 0.1%. The FTSE 100 futures contract in the U.K. dropped 0.1%. Investors saw Chinese data at a slower growth pace earlier […]

China saw a deceleration in its industrial output in April. Meanwhile, retail sales came lower than what was expected by analysts, underscoring more pressures that might cap consumption’s momentum towards recovery.  The country’s industrial production recorded a 9.8% year-on-year increase in April, data from the National Bureau of Statistics showed on Monday. The figure placed […]

China’s lower-than-expected retail sales and strong industrial output drove Asian share markets flatly. Meanwhile, more evidence of global inflation pressures sent gold to a three-month high. MSCI’s broadest index of Asia-Pacific shares outside Japan erased 0.2% gains, deviating far from its four-month high seen last week. Japan’s Nikkei plunged 0.7% to reach its lowest level […]

The pound was on course for a second weekly gain against the dollar on Friday, consolidating above $1.49 as the greenback eased following a recent rally.  The pound rose 1.8% against the dollar since the beginning of May, boosted by a hawkish Bank of England that began tapering asset purchases, as well as Britain’s vaccination […]

Oil prices dropped on Friday after easing nearly 3% on Thursday as COVID-19 cases remained high in major oil consumer India and as a U.S. key fuel pipeline resumed operations following a cyber attack. Brent crude oil futures fell 0.2%, or 10 cents, at $66.95 per barrel. U.S. West Texas Intermediate slid 0.1%, or 3 […]

European stock markets followed Wall Street’s overnight rally Federal Reserve’s officials fended off growing inflation concerns among investors. Germany’s DAX futures contract was up 0.1%. The FTSE 100 futures contract in the U.K. improved by 0.4%. CAC 40 futures in France jumped 0.6%. On Thursday, all three major U.S. stock indexes posted massive gains, recovering […]

Gold was lackluster on Friday in Asian trade as investors digested a record low number of jobless claims and a higher-than-expected Producer Price Index, unable to capitalize on declining US Treasury yield. Gold futures loss 0.07% to $1,822.80. Coming from a more than one-month high hit on Thursday, the Benchmark U.S. 10-year Treasury suffered from […]