Economic news

Investors waiting for updates regarding the new U.S. fiscal stimulus plan drove the stock markets to gains on Wednesday trading spearheaded by defensive sectors including Wall Street’s S&P 500 index. The S&P 500 advanced 8.65 points, or 0.23%, to 3,809.84. Intel Corp gained the biggest in the S&P index, adding 7%. This came after the […]

The Fed’s Beige Book, known as the Summary of Commentary on Current Economic Conditions, reported on Wednesday the U.S. economy is growing at a slow pace. The Beige Book said such yield was due to inflation rise coupled with job growth decline.   Based on anecdotal information collected by the Fed’s 12 reserve banks through […]

The dollar fell on Wednesday as a fall in U.S. yields paused momentum for its rebound and traders resumed bets that it would drop. 10-year U.S. Treasury yield benchmark dropped almost 7 basis points from a 10-month peak on Tuesday and the turnaround cut a three-day streak for the greenback. Against the euro, the dollar […]

Oil prices rose more than 1% on Wednesday, with U.S. crude climbing for a seventh straight day after U.S. inventories reported a bigger-than-expected drawdown and investors shrugged off a worsening coronavirus pandemic. U.S. West Texas Intermediate rose 1.3%, or 67 cents, at $53.88 per barrel following a 2% gain on Tuesday. Brent crude gained 1.4%, […]

The United States had seen a mild contraction in its labor market in November. In addition to this, an increased number of layoffs amid the coronavirus pandemic indicated that the jobs market’s rebound from the pandemic was losing momentum. The Job Openings and Labor Turnover Survey released by the Labor Department on Tuesday came parallel […]

Asian share markets recorded an upbeat performance on Wednesday. The series of gains were mainly from investors’ high hopes over a coronavirus vaccine and its potential to alleviate struggling economies. Meanwhile, oil prices hit a one-year high on tight supply expectations. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.61%, while Japan’s benchmark index […]

Financial markets peek on a higher probability of a near-to-zero interest rate cut to be imposed by the Bank of Canada as stiffing economic restrictions continue to overshadow hopes for a rebound in economic activity later this year. After being trimmed by 150 basis points last March, posting its record-low of 0.25%, interest rates set […]

Nikkei reported on Monday the Bank of Japan will consider slashing its economic growth forecast for this fiscal year ending in March. This, according to Nikkei, is due to consumption being negatively impacted by the state of emergency measures implemented to mitigate the spread of the coronavirus in the country. However, the BOJ may appraise […]

The dollar held onto its recent gains on Tuesday following a rise in U.S. Treasury yields, boosting demand for the safe-haven currency. The dollar has been among the largest losers in the last 10 months as the Fed’s over-dovish policy urged investors to a sell-off. It hit more than 1 ½-year lows against the euro […]

Oil prices fell on Tuesday as traders worried about rising global coronavirus cases, but hopes for a drop in U.S. crude oil stocks for a fifth consecutive week capped losses. Brent crude oil futures fell 0.2%, or 10 cents, at $55.56 per barrel. U.S. West Texas Intermediate dropped 0.2%, or 8 cents, at $52.17 per […]