Economic news

The persisting concern of rising coronavirus cases in India and optimism for global growth as major economies reopen resulted in a mixed trading performance among European stock markets. Germany’s DAX futures contract lowered 0.2%. CAC 40 futures in France also dropped 0.2%. On the bright side, the FTSE 100 futures contract in the U.K. improved […]

The Reserve Bank of Australia kept its rates near zero for a fifth straight meeting on Tuesday and vowed to keep policy super loose for a prolonged period despite the rapid pace of the country’s economic recovery from the coronavirus crisis. Australia’s central bank reaffirmed its promise to keep the cash rate at the record […]

The United States saw a decline in its manufacturing activity in April. The contraction came after inputs decreased on rising coronavirus vaccinations and massive fiscal stimulus. The Institute for Supply Management’s index of national factory activity was read at 60.7 last month. The figure placed lower than the 64.7 reading seen in March, which was […]

Asian share markets recorded a positive performance on Tuesday. The series of gains could be attributed to signs of recovery from the COVID-19 crisis as major economies across the world resumed their economic activity.   MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.05%, tracking Wall Street’s overnight rally. Hong Kong’s Hang Seng index […]

Ethereum’s digital token ether breached the $3,000 mark on Monday, posting its highest record ever and even outshining bitcoin. This as investors bet on ether to have wider use in a decentralized future financial system. Ether, the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange to $3,144.81 in morning deals in […]

Gold shone on Monday in Asian trade as the dollar had a silent day for the first trading session of the month while investors await more U.S. economic data this week. Gold futures edged up 0.36% to $1,774. The greenback, moving inversely proportional to the yellow metal, had silent gains on Monday. U.S. consumer spending […]

The dollar held onto a recent bounce on Monday as investors started the week cautious, awaiting central bank meetings and U.S. economic data to look for hints at global inflation and policy shifts. The dollar index traded at 91.242. It fell 2% in April on upbeat global recovery prospects, which lifted trade-exposed currencies. The dollar […]

Oil prices dropped on Monday as a worsening second COVID-19 wave in India cut off oil demand recovery in the country. This offset optimism about a strong demand rebound in developed countries in the second half of 2021.  Brent crude futures for July contract lost 0.2%, or 15 cents, at $66.61 per barrel. U.S. West […]

Job advertisements in Australia advanced for 11 consecutive months ended April. The jump, which came to be the strongest in 12 years, underscored labor’s capability to maintain its momentum without the government’s emergency support schemes. Total job advertisements expanded 4.7% in April. The figure came after a 7.8% reading seen in March. 196,612 ads were […]

Asian share markets recorded a subdued performance during their early Monday trade. This followed after China and Japan compressed volumes, with investors also waiting for a set of data showing that the United States is recovering ahead of its peers. After a minimal decline on Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan traded […]