Economic news

Uruguay’s economy had recorded a 5.9% contraction last year as it grappled with the coronavirus drag, the country’s central bank said on Wednesday.   In the fourth quarter of 2020, gross domestic product (GDP) declined 2.9%. This was brought about by the government’s implementation of health protocols and virus restrictions in a bid to combat […]

European stock markets started flat on Wednesday trade as global economic recovery doubts weighed on markets. Germany’s DAX futures fell 0.1%. France’s CAC 40 futures dipped 0.4%. Joining the gloomy performance was the FTSE 100 futures with a 0.5% decline. The resurging number of coronavirus cases worldwide as highly contagious variants of the virus spread. […]

The safe-haven dollar was on course for a four-month high on Wednesday as worries over a third COVID-19 wave in Europe, possible U.S. tax hikes, and rising tensions between China and the West capped risk appetite. The dollar index climbed to a two-week high of 92.436 in Asian trade. It hovered right below a four-month […]

Figures released on Wednesday showed British inflation on a sudden drop in February as clothing prices hit their biggest annual drop since 2009, complemented by cheaper second-hand cars. A 0.4% decline was recorded in the month of February for the annual rate of consumer price inflation. This came from a 0.7% fall in January and […]

Oil prices steadied on Wednesday following Tuesday’s slump, but gains were capped by fears of a slow demand recovery amid fresh lockdowns in Europe and a build in U.S. crude inventories. Brent crude futures climbed 0.1%, or 8 cents, at $60.87 per barrel after plunging 5.9% to $60.50 on Tuesday. West Texas Intermediate crude futures […]

Japan’s manufacturing activity greatly accelerated in March, a private survey showed on Wednesday. The expansion seen in the sector was mainly from the prospect of a global economic rebound as more and more countries roll out coronavirus vaccines. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) rendered a seasonally adjusted 5.2 reading […]

Asian share markets reached low grounds on Wednesday. This came after coronavirus lockdowns in Europe and potential U.S. tax hikes dragged investors’ appetite, prompting them to resort to safe havens. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% lower, dropping further after a 0.9% decline seen on Tuesday. After five consecutive months of […]

Gold fell on Tuesday in Asian trade due to the dollar’s surge and reinstated coronavirus-related lockdowns across Europe. Gold futures dipped 0.22% at $1,734.30 as the dollar firmed on Tuesday. The dollar’s bounce back from a tumble from four-month highs during the previous session came as the U.S. Treasury yields fell. Another factor in the […]

U.S. air passengers hit above 1.5 million on Sunday, its first time since March 2020, according to the data released by the U.S. Transportation Security Administration (TSA). After being down by as much as 60% in 2020, U.S. air travel is starting to rebound from the pandemic drag as it reached its pre-pandemic levels on […]

The dollar lingered below recent highs on Tuesday as traders looked to U.S. policymakers for hints on the prospect of rising yields. The New Zealand dollar plunged after the country’s housing reforms eased policy-tightening expectations. The Turkish lira steadied after a 7.5% drop on Monday after President Erdogan sacked a hawkish central bank chief. The […]