Economic news

Gold retreated in Asian trade on Friday to post its first weekly decline in three as U.S. Treasury yields climbed. Gold futures fell 0.7% at $1,723.95, following its one-week low one-week low performance of $1,721.46 on Thursday. Over the week, gold declined a total of 1% as the dollar posted a four-month high in the […]

The dollar stood near multi-month highs against majors on Friday, boosted by optimism over upbeat U.S. economic data, COVID-19 vaccine rollouts, and rising Treasury yields. The dollar index traded at 92.769, near a four-month high. The dollar index was on course for a 0.9% weekly rise. The dollar slid to $1.1778 against the euro but […]

Oil prices rose 1% on Friday on rising fears that the blockage in Suez Canal could take weeks to be cleared, which could squeeze refined products and crude supplies.  U.S. West Texas Intermediate crude climbed 1.1%, or 65 cents, at $59.21 per barrel after dropping 4.3% on Thursday.  Brent crude gained 0.9%, or 54 cents, […]

Asian share markets had seen an upbeat trading session on Friday. Gains across the region were mainly from a jump in U.S. equities as bright economic expectations, coronavirus vaccine rollouts, and inflation heavily supported investors’ enthusiasm. During Asia’s early trade, futures for Australia’s S&P/ASX 200 tallied a 0.30% increase. MSCI’s index across the globe traded […]

Tokyo, Japan’s core consumer prices dropped further in March. However, the contraction came slower than its usual pace, suggesting that an increase in fuel cost and a rebound in domestic demand will likely negate the country’s deflation threats. The core consumer price index of Tokyo recorded an annualized 0.1% decline in March, data from the […]

The dollar hit a new four-month high against the euro on Thursday as the U.S. pandemic response outpaced Europe’s, with the latter hobbled by lockdowns and slow vaccine rollouts. The euro stood near a four-month low of $1.1809 hit in Asian trade. The dollar index lingered below a four-month peak of 92.617 hit overnight.  The […]

Oil prices dropped over 2% on Thursday as new coronavirus restrictions raised fears about fuel demand, even as a stranded container ship blocked crude oil carriers in the Suez Canal. Brent crude futures dropped 2.1%, or $1.33, at $63.08 per barrel after gaining 6% overnight. U.S. West Texas Intermediate crude futures lost 2.3%, or $1.40, […]

Thursday trade saw a mixed performance in the European stock markets as investors were cautious as they wait for the EU leaders’ meeting addressing the coronavirus crisis. Germany’s DAX futures contract was up 0.2%. On the losing end, France’s CAC 40 futures contract fell 0.2% and FTSE 100 futures contract in the U.K. lost 0.1%. […]

Based on the new analysis of its U.S. trial, AstraZeneca recorded a 76% efficacy rate, slightly lower in the previous efficacy outing reported this week which drew criticisms for using outdated data. Monday’s AstraZeneca data reported a 79% efficacy rate but excluded more recent COVID-19 cases, a case that saw U.S. health officials in outrage. […]

Asian share markets posted a turbulent trading session on Thursday. This followed after China saw a selloff in technology-related shares, with investors’ enthusiasm greatly affected by the country’s exclusion from U.S. bourses and a shortage in semiconductor supplies. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% increase. Shares in Hong Kong dropped […]