Economic news

Gold shone brightly on Friday trade in Asia, concluding the week near to a two-and-a-half-month high. The dollar fell to its lowest in a week and the U.S. Treasury yields dropped near its two-week low as investors digest encouraging U.S. economic data. Gold futures gained 0.28% to $1,820.85 as the dollar, which moves inversely to […]

British construction activity grew rapidly in April, near its six-and-a-half-year record posted in March as lifted COVID-19 lockdowns bolstered demand, a survey revealed on Friday. The IHS Markit/CIPS Construction Purchasing Managers’ Index (PMI) slightly lowered to 61.6 in April from 61.7 in March, despite the survey’s gauge of new orders rising to its highest level […]

The dollar was on the defensive on Friday ahead of a key U.S. jobs report that could cement hopes for a strong economic recovery and improve appetite for stocks, currencies and commodities.  The dollar index traded near 90.868, its lowest level so far in the week. It lost nearly 0.4% overnight. The pound stood at […]

Oil prices rose after a 1% decline in the last session on positive economic data from China and the United States even as the worsening COVID-19 crisis in India capped prices. Brent crude futures for July contract rose 0.6%, or 38 cents, at $68.47 per barrel. U.S. West Texas Intermediate crude for June delivery was […]

Japan saw a contraction in its services sector activity in April as coronavirus-related measures heavily dragged the country’s businesses. However, the drop came to be the slowest since the pandemic started in 2020. The final au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) recorded a seasonally adjusted reading of 49.5 in April. The figure […]

Global share markets were on course for their first gain in three weeks amid a surge in commodity prices. Investors’ enthusiasm was mainly from a key U.S. labor report, which will then provide hints on when the Federal Reserve will ease its monetary stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.4% […]

Next, a British-based fashion retailer increased its full-year profit projection for the second time in two months after posting stronger-than-expected first-quarter trading. Next reported on Thursday its central guidance for pretax profit in the 2021-2022 fiscal year increased to 720 million pounds ($1 billion), from the previous 700 million pounds projection made in April. The […]

The dollar lingered below a two-week top on Thursday, consolidating ahead of a key U.S. jobs report that may include hints at a shift in monetary stimulus by the Federal Reserve.  The greenback rose from a one-month low over the past week. The dollar index was little changed at 91.316 on Thursday, after climbing to […]

Oil prices dropped on Thursday as U.S. gasoline stockpiles, the world’s biggest oil consumer, climbed for a fifth straight week. Still, a drawdown in crude inventories helped cap losses.  Brent crude oil futures were down 0.2%, or 16 cents, at $68.80 per barrel, while U.S. West Texas Intermediate crude futures lost 0.3%, or 20 cents, […]

Gold edged up in Asian trade on Thursday ahead of the release of U.S. non-farm payroll data, and the benchmark 10-year U.S. Treasury yield and the dollar also rose. Gold futures improved 0.27% to $1,789.15. The U.S. ADP Nonfarm Employment Change jumped to 742,000 in April, missing the expected growth figures. However, the growth was […]