Economic news

Oil prices rose by over $1 on Tuesday as U.S. output slowly rebounded from a deep freeze in Texas that shut down crude production last week. U.S. shale oil producers said it could take up to two weeks to resume over 2 million bpd of crude output shut down by the extreme cold. Brent crude […]

The S&P 500 and the Nasdaq, two of Wall Street’s major indexes, closed negatively on Monday. The weak sessions were mainly from investors’ caution as a jump in U.S. Treasury yields and prospects of growing inflation brought in valuation concerns.    While both indexes closed their sessions weakly, the Dow Jones Industrial index recorded a […]

Asian share markets recovered from low grounds on Tuesday, reversing from their downward course yesterday brought by U.S. technology shares’ poor performance. The series of gains could be attributed to an increase in commodity prices, greatly supporting investors’ sentiment. After recording its sharpest decline in two weeks, MSCI’s broadest index of Asia-Pacific shares outside Japan […]

The dollar dropped to a near three-year low against the Aussie and the Pound as progress in containing COVID-19 cases lifted risk sentiment. The Aussie reached $0.7892, its strongest since March 2018, while the Kiwi hit $0.7315, its highest level since April 2018. Vaccine rollouts will reduce risks to the Australian economy over the year, […]

Oil prices climbed on Monday as the slow rebound of U.S. crude production following a deep freeze raised worries about fuel demand recovery amid the coronavirus pandemic. Brent crude rose 1.2%, or 76 cents, at $61.67 per barrel following a 1% gain last week. U.S. oil gained 1.3%, or 74 cents, at $59.98 per barrel […]

South Korea recorded a 16.7% annualized increase in exports from February 1 to 20, data from customs agency showed on Monday. The expansion, which indicates a trade-driven rebound, came faster than the 10.5% jump monitored during the first 20 days of January. Exports’ growth could partly be attributed to an increase in major trading items, […]

Asian share markets recorded a cautious session on Monday. The series of increases came after investors’ sentiment was fueled by recovery hopes, with inflation heavily dragging bonds and supporting commodities. Meanwhile, an increase in bond yields made equity valuations more stretched in comparison. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2% as Japan’s […]

European stock markets showed mixed trade performances on Friday.  Meanwhile, British retail sales showed a huge slump in January. Germany’s DAX gained 0.3%.  The CAC 40 in France also improved 0.3%. The U.K.’s FTSE index was on the losing side with a 0.1% drop. This is after retail sales data were released, showing a huge […]

The government of Japan slashed its economic growth projection in February as the country faces an extended state of emergency to curb the spread of the coronavirus, causing further blows to consumer spending. Economists suggest Japan’s economy will contract in the current quarter as reinstated coronavirus restrictions in Tokyo and some prefectures weigh on business […]

The dollar paused on Friday following its largest loss in ten days as disappointing U.S. employment data weighed on hopes for a speedy U.S. pandemic recovery. The greenback continues its role as a safe haven, falling alongside U.S. stocks overnight as an unexpected increase in unemployment claims bruises the economic outlook.  The dollar index traded […]