Economic news

Japan saw its wholesale prices drop at a slower pace for three consecutive months ended February. This heavily indicates that a recent rebound in fuel prices and an increase in domestic demand will likely alleviate the country’s economy from deflationary pressures. The corporate goods price index (CGPI) posted a 0.7% annualized contraction, data from the […]

The dollar climbed on Wednesday, gaining back some of its overnight losses as U.S. yields hit support after dropping from one-year highs. Risk currencies like the Aussie and the kiwi fell after acquiring large gains on Tuesday. The euro fell 0.2% to $1.18815 after recovering from a 3 ½-month low of $1.18355 on Tuesday. Against […]

Oil prices dropped for a third consecutive day on Wednesday as traders took profits while awaiting U.S. stockpile data due later in the day for hints on price prospects. Brent crude for May contract fell 0.8%, or 56 cents, at $66.96 per barrel. U.S. West Texas Intermediate crude for April delivery dropped 0.7%, or 45 […]

Germany’s sportswear brand Adidas forecast a strong rebound in 2021 sales, with its Asian and Latin American stores doing the heavy lifting as it braces for costs associated with divesting the Reebok brand. Adidas is set to present its five-year strategy on Wednesday, which includes the sales outlook for 2021. The company’s sales for the […]

Gold was edged down by strengthening dollar on Wednesday trade in Asia. This as rising U.S. yields supported the greenback rally, shunning investors away from the precious metal. Gold futures slipped 0.31% at $1,711.55, though remaining above the $1,700 mark. The yellow metal’s fall was the rise for dollar on Wednesday as the two assets […]

Tesla, an electric vehicle company, saw its shares surge nearly 20% on Tuesday. The jump came after shares were deeply hurt by a selloff, recovering impressively as data showed an increase in China sales and as an analyst increased his rating on the stock. Shares of the company closed at $673.58, recording their sharpest daily […]

Asian share markets recovered from a two-month low on Wednesday. Investors’ upbeat sentiment was mainly from a decline in bond yields, with Chinese shares also performing well after a wild upswing brought about by policy tightening worries. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%, recovering from its two-month low record seen the […]

European stock futures were down during the early trade on Tuesday as tech stocks and dismaying Japanese growth weighed on markets despite progress on U.S. stimulus package. Germany’s DAX futures contract was down 0.1%, France’s CAC 40 futures also dipped 0.1%, and the U.K.’s FTSE 100 futures declined 0.4%. Japan’s economy was reported to have […]

U.S. wholesale inventories posted upbeat figures in January supported by strengthening demand. This boosts hopes for faster economic growth in the U.S. Data released by the Commerce Department showed a 1.3% increase in wholesale inventories. Stocks at wholesalers improved 0.6% in December. The component of wholesale inventories that goes into the calculation of gross domestic […]

The dollar traded near a 3 ½-month high against its peers on Tuesday as higher bond yields and hopes for faster U.S. economic recovery boosted the greenback. The dollar index gained 0.1% to 92.469, its strongest since November, building on a 0.5% rise on Monday. Against the yen, the dollar climbed to 109.235, its strongest […]