Economic news

The Federal Reserve’s preferred inflation gauge must reach a peak of 2.8% to rattle policymakers in the United States. This expectation was from a Reuters poll, which also suggested that the central bank might retain its current policy rates for three months before implementing any changes. The core personal consumption expenditures (PCE) price index recorded […]

Asian share markets recovered on Friday, with Japanese shares performing the strongest. The jump could be attributed to investors’ enthusiasm over stocks that would highly benefit from a rebound across the globe. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.6% increase. Chinese blue chips hiked 0.1%, while Australian shares traded 0.7% higher. […]

The dollar lingered near its weakest levels of the year on Wednesday as investors clung onto bets that the U.S. Federal Reserve would maintain dovish policy settings ahead of inflation data. The dollar hit its lowest against the euro in two months, following an upbeat European growth survey. It stood just above the $1.2140-level in […]

Oil prices climbed on Wednesday, extending gains accumulated overnight after industry data showed a decline in U.S. crude stockpile. This reinforced OPEC’s upbeat demand outlook and as the shutdown of Colonial Pipeline headed into the sixth day. U.S. West Texas Intermediate crude futures gained 0.3%, or 21 cents, at $65.49 per barrel, following a 36-cent […]

Official data released by the Office for National Statistics on Wednesday showed Britain’s economy surpassing the growth forecast as it posted a 2.1% expansion in March. The retail sector led the growth, along with the construction sector, and the reopening of schools in the U.K. In the first quarter of 2021, when the U.K. was […]

Commerzbank upgraded its revenue outlook for the entire year as it posted a higher-than-expected first-quarter profit. This was after the German lender slashed jobs and decreased its operations. Commerzbank posted on Wednesday a net profit of 133 million euros in the first three months of the year, compared to a loss of 291 million euros […]

Nissan Motor Co’s shares plunged as low as 10.3% during their early Wednesday trade. The drop, which came to be the sharpest in four months, could be attributed to the automaker’s weaker-than-expected guidance for the current fiscal year. The Japanese car provider breached expectations on Tuesday, with global chip shortage and surging prices of raw […]

Asian share markets recorded two consecutive sessions of losses to reach one-month lows on Wednesday. The drop came after an increase in commodity prices and growing inflationary pressure fueled the prospect of rate hikes and surging bond yields. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.5%. The index dropped lower after a 1.6% […]

The dollar fell against commodity currencies on Tuesday on expectations for additional gains in the price of oil and metals. Against the loonie, the dollar stood at 1.2097, near its lowest in over three years. The dollar also fell to a near two-week trough against the Mexican peso. The Aussie climbed to $0.7836, close to […]

Oil prices dropped on Tuesday as worries of prolonged outage in Colonial Pipeline, the United States’ biggest fuel pipeline system faded, while several U.S. Gulf Coast refiners slashed production. U.S. West Texas Intermediate crude futures were down 0.94%, or 61 cents, at $64.31 per barrel, following a 2-cent gain on Monday. Brent crude futures fell […]