Economic news

The dollar sat near a seven-week high on Tuesday, supported by an overnight euro selloff after COVID-19 restrictions hit consumer spending in Europe. The euro fell the most in 2 ½ weeks on Monday after German retail sales dropped more than anticipated in December. The dollar rose even as stocks rallied, defying a recent trend […]

Oil prices climbed nearly 1% on Tuesday after major producers showed commitment to slashing output, supporting a market plagued by weak demand amid the coronavirus pandemic. Brent crude rose 0.9%, or 51 cents, at $56.86 per barrel. U.S. oil was up 1%, or 53 cents, at $54.08 per barrel. Both benchmarks gained over 2% in […]

January had seen manufacturing activity in the United States drop mildly. Meanwhile, a gauge of prices paid by factories for raw materials and other inputs advanced to its strongest level in nearly a decade. This greatly indicates that the country’s inflation will grow this year. The Institute for Supply Management’s index of national factory activity […]

Asian share markets rallied on Thursday. The series of gains could be attributed to investors’ enthusiasm over stimulus packages and global economic recovery, with much of their focus now deviated from GameStop and silver. MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 1.25% increase during its mid-morning trade. Hong Kong’s Hang Seng index […]

The safe-haven dollar found support on Monday with traders wary of the tension in Wall Street between retail and hedge fund investors. Doubts about the size of the Biden fiscal stimulus and slow vaccine rollouts also weighed on the market, with traders rushing for safer assets. Several Republican senators are urging Biden to downsize his […]

Oil prices rose on Monday following a weak start, clinging onto three months of gains, despite slow COVID-19 vaccine rollouts, rising infections, and new variants capping prices. Brent crude futures rose 10 cents to $55.14 per barrel, while U.S. West Texas Intermediate climbed 1 cent to $52.21 per barrel. Both contracts rose 8% in January. […]

Taiwan and South Korea yielded improved factory performances in January, while China and Japan suffered amid coronavirus resurgence. The mixed factory activities in the Asian region reflect the imbalanced nature of its economic recovery. Major chip exporters South Korea and Taiwan posted improved factory activity, benefitting from continued sharp demand for semiconductors crucial to work-from-home […]

European shares soared on Monday trade, rebounding from its worst weekly decline since October propped by a rise in shares of miners after silver became an instant hit. The pan-European STOXX 600 index jumped 0.8%, with shares of miners including Fresnillo, Polymetal International, and Boliden AB helming early gains on the index. The recent frenzied […]

January had seen China’s factory activity advance at the slowest pace in five months. The contraction, which was from a surge of coronavirus infections across the country, still came parallel with the ongoing rebound in the world’s second-largest economy. The official manufacturing Purchasing Managers’ Index (PMI) rendered a 51.3 reading in January. The figure placed […]

Asian share markets recorded an upbeat performance, while U.S. stock futures salvaged initial losses on Monday. The series of jumps could be attributed to retail investors’ found enthusiasm over precious metals, completely easing some struggling hedge funds. After plunging for four consecutive sessions, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.4%. Japan’s benchmark […]