Economic news

The dollar index held onto its biggest gain in over two months on Friday as a gain in U.S. yields prompted a sell-off. The greenback bounced from a three-year low after the dollar index fell almost 7% in 2020 and nearly 0.9% in the new year despite expectations for a U.S. economic package. Democrats won […]

Oil prices hovered near 11-month highs on Friday and were on course for a strong weekly gain as Saudi Arabia pledged to cut supply, boosting market sentiment. U.S. West Texas Intermediate crude futures climbed 0.3%, or 14 cents, at $50.97 per barrel. The benchmark ended 0.4% higher on Thursday after reaching its strongest level of […]

The United States declared Thursday its cancelation of tariffs on French cosmetics, handbags, and other imports that it imposed in July last year. The indefinite suspension of French tariffs starting Wednesday would take effect to make room for 10 investigations into similar taxes in India, Italy, Britain, and other countries. The U.S. Trade Representative’s office […]

Asian shares surged on Friday to hit new record highs, capped by Japan’s Nikkei posting a 30-year high. These Asian market gains overshadowed pressing economic concerns including persisting COVID-19 cases and political unrest in the United States as investors set sights on global economic recovery. Asian markets followed after Wall Street capped big gains on […]

The investment deal between the Britain-less European Union and the world’s second-largest economy in China made last month is set to enforce European firms to secure assets in China in different sectors including insurance, healthcare, and automobile.   The EU-China Comprehensive Agreement on Investment (CAI), which took almost seven years to reach, is seen to […]

The dollar sat near a three-year low on Thursday after Democrats won the U.S. Senate, paving the way for a bigger stimulus package under President-elect Joe Biden. Currency markets barely budged amid the chaos in Washington as supporters of outgoing President Trump swarmed U.S. Capitol. The dollar index climbed 0.1% to 89.444 in Asian trade […]

Federal Reserve policymakers were sticking with the current rates and bond purchases, the minutes of the central bank’s meeting showed on Wednesday. This resolve is seen as the central bank’s support for economic recovery as inoculations continue to roll across the country. The released meeting minutes on Wednesday showed the decision of the Federal Open […]

Oil prices climbed on Thursday as Saudi Arabia, the world’s biggest oil exporter, agreed to slash production in the next two months and as U.S. crude inventories dropped. Brent crude rose 0.7%, or 40 cents, at $54.70 per barrel following a 1.3% gain overnight. U.S. West Texas Intermediate rose 0.9%, or 43 cents, at $51.06 […]

For the first time in eight months, private companies in the United States posted their sharpest unemployment in December. This could be attributed to an upsurge of new coronavirus cases and its direct impact on businesses, bringing in more pressure on the struggling economy. After increasing by 304,000 in November, private payrolls diminished by 123,000 […]

Bonds recorded a subdued performance, while Asian share markets advanced on Thursday. This came after investors’ sentiment was fuelled by the prospect of massive borrowing and spending as Democrats secured both houses of the United States Congress. MSCI’s broadest index of Asia-Pacific shares outside Japan placed near a record peak with a 0.5% increase. The […]