Economic news

The dollar firmed against its peers in holiday-thinned trading on Wednesday as worries about a quick-spreading new coronavirus strain in the UK boosted safe-haven demand. The pound fell for three straight days as the deadline for a post-Brexit trade deal nears. The dollar index climbed 0.1% to 90.561, extending its gain for the week to […]

Oil prices slid in early trade on Wednesday after U.S. crude oil inventories rose, contrary to expectations. U.S. President Donald Trump threatens to not sign a long-expected coronavirus stimulus aid, unnerving markets. U.S. West Texas Intermediate crude futures dropped 1%, or 46 cents, at $46.56 per barrel. Brent crude futures fell 0.9%, or 46 cents, […]

Britain and Canada announced on Tuesday that they sealed a short-term deal that will secure the free trade agreement between the two countries continue after Brexit until the Canadian parliament enacts a new bilateral agreement. “The United Kingdom and Canada have today agreed transitional measures to maintain the flow of goods between our countries from […]

U.S. consumer confidence unexpectedly dropped in December, posting a four-month low. This is amid the resurging coronavirus infections that are pushing more states to re-impose tight restrictions on businesses and travel. Based on the report released on Tuesday, the Conference Board index plunged to 88.6 from a downwardly revised 92.9 reading last month. The December […]

The S&P 500 reached low grounds on Monday after it recovered from massive losses during the early session. The choppy trade was mainly from weak sentiment as investors weighed between a new coronavirus strain and the passage of a long-anticipated stimulus package. The tech-heavy Nasdaq recorded minimal losses, closing weakly together with the S&P 500. […]

Asian markets extended their declines on Tuesday as shares deviated farther from their milestone peaks seen last week. The series of declines followed after investors were left anxious that a new coronavirus strain would restrain the global economy from recuperating. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.75% decline, while Hong Kong’s […]

The dollar firmed on Tuesday but was well below recent highs as a new coronavirus strain in Britain caused tension in currency markets. The pound and the kiwi both slid 0.5% in Asian trade. The Aussie was down 0.4% and the euro 0.2% to trade at $1.2228. The pound sat at $1.3308, 2 cents higher […]

Oil prices fell for a second day on Tuesday as a new strain of the coronavirus in Britain raised worries about fuel demand recovery. The fast spread of the new coronavirus strain has shut down most of Britain, and prompted neighboring countries to shut down their borders to British travellers and cargo. Brent crude futures […]

Ballooning to over 600% from 2019, the total investor inflows into cryptocurrency reached $5.6 billion so far this year, based on the recent data from CoinShares. The inflows and the most recent price moves raised assets under management for the sector to nearly $19 billion in 2020. In 2019, assets under management were just at […]

On Monday trading, Tesla sharply plunged in their debut together with the S&P 500. The sharp decline peaked after news of possible competition with Apple broke out. After reaching the pedestal on a record high posting in the previous trading session, Tesla culminated Monday trading with a sharp 6.5% fall – the firm’s sharpest one-day […]