Economic news

Oil prices dropped on Tuesday as shipping traffic resumed in the Suez Canal after days of blockage. The market turned its focus on an upcoming OPEC+ meeting this week where producers are expected to discuss extending supply curbs amid fresh coronavirus lockdowns. Brent crude fell 0.2%, or 15 cents, at $64.83 per barrel following a […]

Rising French consumer confidence pushed European stock markets to greater heights on Tuesday. Germany’s DAX was up 0.7%. France’s CAC 40 improved 0.8%. The U.K.’s FTSE index gained 0.7%. The upbeat performance in the European markets was due to French consumer confidence that soared in March. According to the INSEE stats agency, its monthly consumer […]

Gold performed weaker in Asian trade on Tuesday, hitting its lowest level in over two weeks. The fall in the yellow metal’s prices was due to strengthening dollar and rising Treasury yields which were propelled by prospects of more stimulus and faster inoculation programs in the United States. Gold futures dipped 0.42% at $1,707.35, after […]

The dollar firmed against the euro on Monday as a cautious market mood urged investors to seek safety. A promising U.S. economic recovery and speedy vaccine rollouts also supported the dollar. The euro fell 0.1% to $1.1783 in Asian trade, not far above last week’s low of $1.1762 and right below its 200-day moving average […]

Oil prices dropped over 2% on Monday after news that salvage crews have successfully moved the giant container ship that was stuck in the Suez Canal and has blocked global trade passage for almost a week. Brent oil fell 2.1%, or $1.38, at $63.19 per barrel. U.S. West Texas Intermediate lost 2.4%, or $1.48, at […]

The concern that the third wave of OCVID-19 cases will result in longer lockdowns in the European region feared investors, reflecting on Monday trade in European stock markets. Germany’s DAX future contract fell 0.6%. The FTSE 100 futures contract in the U.K. dropped 0.6% as well. On the lone bright spot was France’s CAC 40 […]

In a bid to bolster internet connection capacity between Southeast Asia and America, Facebook partnered with Google for a project that will produce two new undersea cables to connect countries like Singapore, Indonesia and North America. Kevin Salvadori, Facebook Vice President of Network Investments confirmed the development and said the two cables, named Echo and […]

The United States had seen its consumer spending plunged to its sharpest in 10 months. The decline, which was seen in February, followed after large portions of the country’s economy suffered from inactivity and as a second round of stimulus checks for middle- and lower-income households faded. Consumer spending, which covers more than two-thirds of […]

Asian share markets were seen upbeat on Monday, while oil prices recorded a subdued performance as a ship blocking the Suez Canal was finally refloated. This brought in hopes that the vital waterway’s reopening would ease global shipping backlogs. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3% as Chinese blue chips traded 0.8% […]

European stock markets were on an upbeat performance on Friday, boosted by Wall Street’s late gains overnight. However, pandemic recovery doubts still lurk in the markets as the third wave of coronavirus cases hit the European region and concerns over slow vaccine rollouts. Germany’s DAX futures contract was up 0.1%. France’s CAC 40 futures improved […]