Economic news

The dollar gained against other majors on Monday with investors rushing to safe-havens as countries imposed stricter COVID-19 restrictions. The pound was on course for its biggest decline in three months against the dollar. It was down 1.14% to $1.3336. Against the dollar, the euro fell 0.6% to $1.21860. The risk-sensitive Aussie and kiwi sank […]

Japan’s cabinet approved a record $1.03 trillion budget draft for the next fiscal year beginning in April 2021 on Monday. The Japanese Ministry of Finance said that economic spending put pressure on public finances. The 106.6 trillion yen ($1.03 trillion) annual budget was boosted by record military and welfare outlays. It rose 4% from this […]

Overseas demand from COVID-constrained consumers greatly supported China’s manufacturing sector as its activity breached forecasts this year. In addition to this, the recovery prompted factories to hire blue-collar workers in a bid to clear foreign orders. The country’s output of industrial robots jumped 22.2% as computer equipment advanced 10.1%. Meanwhile, integrated circuits recorded a 15.9% […]

Asian shares and the pound recorded a subdued performance on Monday. The series of declines could be attributed to investors’ cautious appetite as a new coronavirus strain, which greatly paralyzed large portions of the United Kingdom, dampened markets’ stimulus-driven sentiment. After hitting multiple record highs last week, MSCI’s broadest index of Asia-Pacific shares outside Japan […]

Early Monday trade saw oil prices dipping as the new coronavirus strain rapidly spreading in Britain triggered concerns that lockdown measures and restrictions in the country, along with other European nations, would stall the economic recovery, including fuel demand. Brent crude fell 97 cents, or 1.9%, to $51.29 a barrel by 0103 GMT after increasing […]

Senate Majority Leader Mitch McConnell, House Speaker Nancy Pelosi, and Senate Democratic leader Chuck Schumer announced on Sunday that the US Congress finally secured a deal on a $900 billion spending package to boost the country’s economy amid the unwavering coronavirus spread. While the legislative text was still being prepared, the Congress was expected to […]

The dollar stabilized on Friday after a week of selling that has pushed it below major support levels. Its decline prompted short sellers to ride the sentiment and make quick profits.  The dollar rose 0.3% to 103.39 against the Japanese yen on Friday and gained by the same margin against the Aussie and the kiwi. […]

Oil prices slid on Friday, just below the nine-month highs hit overnight as rising coronavirus cases weighed on fuel demand and U.S. lawmakers debated over a $900 billion economic aid package. U.S. West Texas Intermediate crude futures fell 0.1%, or 7 cents, at $48.29 per barrel. Brent crude futures dropped 0.3%, or 13 cents, at […]

November had seen Japan’s core consumer prices drop at their fastest pace in a decade. The decline could be attributed to the coronavirus’s impact on demand as the country grapples with the threat of deflation and fears that former premier Shinzo Abe’s stimulus policies will be nullified. Core consumer prices recorded a 0.9% drop in […]

After reaching their milestone peaks the previous day, Asian share markets retreated from high grounds on Friday. However, the prospect of a massive stimulus package in the United States greatly supported investors’ appetite for stocks and other risky assets. MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.3% decline, easing from Thursday’s historic […]