Economic news

Oil prices climbed on Tuesday as the dollar’s decline made crude more attractive to traders. Prices recovered from a 4% drop overnight due to the prospect of producers returning over 2 million bpd of supply to the market by July. Brent crude futures rose 1.3%, or 83 cents, at $62.98 per barrel following a 4.2% […]

Japan saw a decline in household spending, marking the third consecutive month of contraction in February. Data released on Friday showed that the drop was mainly from the country’s implementation of coronavirus measures in a bid to combat the coronavirus. This, in turn, dragged economic outlook and consumption. On an annualized basis, household spending recorded […]

Asian share markets were seen upbeat on Tuesday as another batch of strong economic figures in the United States heavily fueled investors’ enthusiasm. However, currency and bond markets eased after an upswing recorded by the dollar and U.S. Treasury yields.   MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.4% increase. Japan’s benchmark […]

A faster-than-previously-thought economic growth was registered by the pandemic-hampered U.K. economy during the fourth quarter of 2020, according to the official data released on Wednesday. Based on the data released by the National Statistics, Gross Domestic Product (GDP) expanded 1.3% in the last quarter of the year 2020. It beat the 1.0% growth forecast projected […]

China’s faster-than-expected factory activity growth and U.S. Treasury yields conspired to take down gold in Asian trade on Wednesday. Gold futures slipped 0.42% at $1,679 as the dollar, which normally trades inversely to gold, gained on Wednesday. China released its manufacturing Purchasing Manager’s Index (PMI) that saw a 51.9 reading in March. It fared better […]

The dollar hit a new one-year high against the yen and multi-month peaks against peers. This came as traders bet that massive fiscal stimulus and speedy vaccinations will aid the United States in leading a global pandemic recovery. The dollar index climbed as far as 93.435, its strongest in nearly five months. It rose from […]

Oil prices climbed on Wednesday, paring losses sustained overnight ahead of an OPEC+meeting, with traders betting that producers will extend their supply curbs into May.  Brent crude futures gained 0.2%, or 15 cents, at $64.29 per barrel after sliding 1.3% on Tuesday. U.S. West Texas Intermediate crude futures rose 0.3%, or 15 cents, at$60.70 per […]

While Asian share markets performed positively on Wednesday, they were still on track for their first monthly decline since October. The U.S. dollar, on the other hand, reached high grounds as investors’ enthusiasm was fueled by the prospect of a stable global economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4%, marking […]

Japan’s industrial output reached low grounds in February as the country’s production of automobile and electrical machinery plunged. This, in turn, heightened concerns that the world’s third-largest economy is still struggling to emerge from the coronavirus crisis. The country’s factory output recorded a 2.1% drop in February, official data showed on Wednesday. The figure came […]

The dollar rose to a one-year high against the yen on Tuesday amid a rise in Treasury yields, as speedy vaccination rollouts and a massive U.S. fiscal stimulus stoked inflation worries. The dollar hit the 110-level against the yen in Asia, its highest since March 2020. It is on track for its best month since […]