Economic news

In a bid to boost local tourism and support ailing airlines due to shut down of international flights because of the pandemic, the Australian government proposed a A$1.2 billion ($928 million) tourism support package on Thursday. The package will provide 800,000 tickets on domestic flights to more than ten destinations around the land down under. […]

The dollar wallowed near a one-week low on Friday as a calm bond market boosted investor’s appetite for Asian currencies. The commodity currencies Aussie and kiwi stood near one-week highs hit overnight as inflation fears declined. The dollar index hovered just above the 91.364 level reached overnight for the first time since Feb. 4. It […]

Brent crude prices fell on Friday but lingered near $70 per barrel as major producers’ output cuts tightened supply. Optimism about demand recovery in the second half of the year also supported prices. Brent crude futures for May contract fell 0.2%, or 17 cents, at $69.46 per barrel, while U.S. West Texas Intermediate crude for […]

Asian share markets recorded an upbeat performance on Friday as U.S. President Joe Biden finally signed a $1.9 trillion stimulus bill into law. More so, markets’ strong sessions could partly be attributed to a decline in bond yields, greatly minimizing inflation-related concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.45% during its early […]

The economy of the United States was predicted to expand faster than what was initially thought, with expectations that it will also reach pre-pandemic levels within six months, a Reuters poll of economists showed. However, the job market’s recovery was viewed to take longer to recover. The world’s largest economy will likely expand 5.7% this […]

The dollar fell near one-week lows on Thursday after weak U.S. consumer prices data and a drop in Treasury yields prompted a sell-off in the market.  The dollar index was flat at 91.79 after hitting a one-week low of 91.75 in Asian trade as data showed that U.S. core consumer price growth briefly slowed in […]

Crude oil prices rose on Thursday as vaccine rollouts boosted the economic outlook. U.S. fuel stockpile dropped, but gains were capped by a spike in crude oil stocks following a storm in Texas last month.  Brent crude oil futures for May delivery gained 0.8%, or 55 cents, at $68.45 per barrel. U.S. West Texas Intermediate […]

European stock markets were upbeat opening Thursday trade as it got a huge lift from the U.S. Congress’ approval of Biden’s coronavirus relief package. Germany’s DAX futures contract was up 0.1%, France’s CAC 40 futures added 0.3%, and U.K.’s FTSE 100 futures contract improved 0.4%. The euro zone’s shift will turn to the upcoming policy meeting […]

After being down during the previous session on strengthening dollar, gold bounced back on Thursday trade in Asia as weaker-than-expected U.S. inflation data dragged Treasury yields and the greenback. Gold futures added 0.42% at $1,729 as the dollar, which moves inversely to gold, fell on Thursday. U.S. Treasury yields, along with the dollar, retreated as […]

Asian shares market advanced further, completely reversing from Thursday’s weak levels as an increase in U.S. consumer prices minimized concerns and sent the Dow Jones Industrial Average to record peaks. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.7% gain. South Korea’s Kospi came as the biggest advancer across the region, trading 1.7% […]