Economic news

Oil prices dropped for a third day on Thursday as a sudden build in U.S. crude stockpile and a surge in COVID-19 cases in India and Japan raised worries that a global economic and fuel demand recovery may be slow. Brent crude futures lost 0.9%, or 57 cents, at $64.75 per barrel, following a $1.25 […]

The economy of the United States is expected to expand at its fastest annual pace in decades this year. It is also predicted to surpass most of its major peers as the country upgraded its economic outlook. However, an increase in coronavirus infections will likely press over the next three months, a Reuters survey showed. […]

Asian share markets were seen upbeat on Thursday, advancing further in global markets after a strong selloff earlier this week. Meanwhile, oil prices withdrew from high grounds as an increase in coronavirus infections in some parts of the world dampened investors’ enthusiasm. MSCI’s broadest index of Asia-Pacific shares jumped 0.4%, salvaging a 0.9% decline seen […]

The dollar lingered just above a seven-week low on Wednesday as subdued U.S. bond yields reduced the greenback’s appeal. The dollar index traded at 91.196 in early Asian trade after dropping to as low as 90.856 on Tuesday, its lowest since March 3. The index has dropped 2.2% this month.  The Japanese yen rose to […]

Oil prices dropped for a second day on Wednesday on worries that rising COVID-19 infections in India will lower fuel demand in the world’s third biggest oil importer. Brent crude futures for June lost 0.8%, or 52 cents, at $66.05 per barrel, following a 48-cent decline on Tuesday. U.S. West Texas Intermediate crude futures for […]

Gold shone on Wednesday trade in Asia as U.S. Treasury yields softened. Gold futures edged up 0.22% to $1,782.40. The dollar, which usually moves inversely to gold, hovered near its seven-week low. Its peer, U.S. Treasury yields dropped 1.6%. The U.S. Federal Reserve and the European Central Bank, along with other central banks, are expected […]

As clothing and fuel prices rose, the British consumer price inflation rate moved up to 0.7% in March. The official figures for the recent period were slightly higher than the 0.4% inflation rate in the previous month. The official figures released on Wednesday also showed food prices lower than last year. British inflation is expected […]

Retail sales in Australia breached forecasts in March. The expansion came after an increase in housing prices heavily supported consumer confidence. More so, the reopening of state borders enabled cashed-up households to engage in travel activities again. On a monthly basis, retail sales recorded 1.4% in March. The figure from the Australian Bureau of Statistics […]

Asian share markets and U.S. stock futures recorded a weak trading session on Wednesday. This followed after surging coronavirus cases in some countries dimmed the strength of global growth and dragged crude oil demand. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.6% drop. Australian shares plunged 1.25%, while Chinese shares traded 0.46% […]

European stocks barely moved on Tuesday trade as their levels were unchanged from the previous session. This as investors await the next corporate earnings report. Germany’s DAX futures improved 0.1%. France’s CAC 40 futures also added 0.1%. Meanwhile, the U.K.’s FTSE 100 futures dropped 0.1%. Across the Atlantic, major indices in the United States dropped […]