Economic news

The dollar eased from its steady rise but was stuck in a selling pressure in Asian trade on Wednesday as traders awaited the result of a Senate election in Georgia to assess the market sentiment.  The dollar fell from a major support level against the yen on Tuesday. It slid below a ten-month low of […]

Brent oil prices climbed on Wednesday to their highest level since February after Saudi Arabia agreed to increase output cuts than initially expected at the organization’s meeting. In the United States, crude inventories dropped last week, according to industry data.  Brent crude futures gained 0.6% to $53.94 per barrel, its highest since end-February of 2020. […]

Britain’s new car sales had a nearly 30% drop, its biggest fall since World War Two, as  COVID-19 restrictions forced the sector to cease operations temporarily, the trade industry reported on Wednesday. Initial data from the Society of Motor Manufacturers and Traders (SMMT) revealed that car demand was at 1.63 million cars in 2020. During […]

In light of an expected new economic recession triggered by a surge in COVID-19 infections resulting in a third nationwide lockdown, the British government offered on Tuesday a 4.6 billion pound ($6.2 billion) support package for businesses. The third national lockdown was announced by Prime Minister Boris Johnson on Monday, citing the highly contagious new […]

December had seen factory activity in the United States advance to a 2-1/2 year high. The expansion came amid the consistent drag of the coronavirus pandemic on the services sector, forcing people to resort to goods. However, surging infections restricted supply chains. The Institute for Supply Management’s index of national factory activity was read at […]

Global share markets recorded a subdued performance, while bond yields advanced on Wednesday. This came after investors’ sentiment was affected by the possibility of Democrats dominating the U.S. Senate, raising fears of higher taxes and tighter regulations on big tech firms. MSCI’s broadest index of Asia-Pacific shares outside Japan shed initial gains to trade 0.2% […]

The dollar rose on Tuesday as worries about rising coronavirus cases and uncertainty about U.S. runoff elections in Georgia boosted demand for safe assets. The dollar held overnight gains in early Asian trade on Tuesday after U.S. stocks fell from record highs at the start of the year. The pound fell under pressure as Prime […]

Oil prices steadied on Tuesday after OPEC+ continued deadlock negotiations on February oil production, while fuel demand worries hovered amid new coronavirus restrictions. Brent crude futures for March delivery gained 0.2%, or 8 cents, at $51.17 per barrel. U.S. West Texas Intermediate crude for February contract rose 0.3%, or 12 cents, at $47.74 per barrel. […]

November had seen construction spending in the United States advance to a record peak. The expansion was mainly from an upbeat housing market despite historically low mortgage rates. Moreover, this could possibly minimize the coronavirus drag that the country has been experiencing. Construction spending jumped 0.9% to $1.459 trillion, the Commerce Department said on Monday. […]

Asian share markets were seen subdued on Tuesday. This followed after investors grew wary over Senate runoffs in Georgia- a salient factor that bears significance on the economic policies that President-elect Joe Biden would implement during his tenure. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.34% decline, reversing from its record peak […]