Economic news

Oil prices dropped in early trade on Wednesday, falling back after a two-day rally driven by a cold front capping oil and gas field output in Texas.  U.S. West Texas Intermediate crude futures lost 0.6%, or 33 cents, at $59.72 per barrel, falling from a 13-month high of $60.95 hit on Tuesday. Brent crude futures […]

U.S. Treasury yields reached one-year highs on Wednesday at the expense of stock markets, gold, and the Japanese yen.  The stimulus-fuelled global recovery that will cause inflation to increase weighed on the markets causing investors to ease off. Benchmark ten-year U.S. Treasury yields soared 1.3330% in Asia, the highest since February 2020, although they later […]

Surging U.S. Treasury yields on Wednesday pushed the gold to extend its losing streak. Down for five days in a row, Gold is now at the precipice for the longest losing run in almost a year. Expectations for a recovering economy from the pandemic pushed U.S. Treasury yields to cap their one-year highs, causing subdued […]

 Bitcoin reached a historic high as it placed above the $50,000 mark on Tuesday. The latest increase then added steam to a rally brought by signs that the world’s most prominent cryptocurrency is gaining tighter market traction among mainstream investors and companies. Bitcoin was seen at $50,603, jumping 0.83% higher from its previous record of […]

An expansion monitored in Chinese demand and manufacturers’ enthusiastic mood boosted Japan’s exports in January. The growth heavily indicates that exports are now on their way to recovery after suffering from the coronavirus drag last year. Data from the Ministry of Finance showed that the country’s exports recorded an annualized 6.4% increase in January. While […]

The dollar dropped to a three-week low on Tuesday, while the pound reached a near three-year high as progress in vaccine rollouts improved investor’s hopes for economic recovery. Commodity currencies also rose on Tuesday, while the safe-haven yen was dragged by the upbeat market mood and a selloff in U.S. Treasuries.  The Japanese yen fell […]

Oil prices climbed on Tuesday as wells and refineries in Texas, the United States’ biggest crude producer, shut down due to a cold front. Prices also rose as Yemen’s Iran-aligned Houthi group confirmed it hit Saudi Arabian airports with drones, raising supply worries in the world’s biggest oil exporter.  Brent crude futures rose 0.6%, or […]

Hong Kong had seen a jump in its cinema stocks on Tuesday. This followed after box offices in China tallied a revenue record of over 6 billion yuan for the week starting Feb. 11 as the Lunar New Year sparked movie enthusiasm. Data from Maoyan Entertainment showed that the record placed above the previous week-long […]

Asian share markets were seen upbeat on Tuesday. The series of gains had sent global equities up to secure their 12th session of earnings. The strong upswing followed after investors’ sentiment was fueled by coronavirus vaccines, with rollouts expected to stage a brisk economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.62% […]

SoftBank Group Corp reached new heights with its shares skyrocketing on Tuesday as investors celebrated the recovery in the value of the firm’s tech portfolio. SoftBank shares edged up 4% at 10,420 yen, posting their highest in 30 years. The Nikkei 225 index component bested its previous record of 10,111 yen recorded in February 2000. […]