Economic news

The dollar was on the defensive on Monday as lower U.S. jobs data strengthened expectations for a new economic package. Investors on the pound eyed trade talks between the European Union and the United Kingdom. The dollar index steadied at 90.726 after sinking to a 2 ½-year low of 90.471 on Friday. The euro bought […]

Oil prices dropped on Monday as rising global coronavirus cases prompted new lockdowns, including South California, the world’s top consumer. Brent oil futures fell 0.4%, or 20 cents, at $49.05 per barrel. U.S. West Texas Intermediate crude futures slid 0.4%, or 20 cents, at $46.06 per barrel. Both contracts rose for a fifth straight week […]

November had seen China’s exports advanced at the fastest pace in almost three years. This came after the country recorded a historic surplus as the world demanded more products necessary to combat the coronavirus pandemic. November exports advanced 21.1% from a year ago, customs data showed on Monday. This came to be the most rapid […]

Asian share markets took a breather from their milestone peak on Monday. The series of declines came after investors’ sentiment was dampened by geopolitical tensions, with the United States planning to impose sanctions on some Chinese officials. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% drop, easing from its four consecutive days […]

In light of prospects of the U.S. easing sanctions on Iran after President-elect Joe Biden takes office, state media reported on Sunday Iran has instructed its oil ministry to increase production and sale of crude oil at full capacity in three months. The state media quoted Iran President Hassan Rouhani as saying that Iran exported […]

The U.K. and the European Union are meeting for the last time to settle, once and for all, a free trade agreement before the Brexit transition expires at the end of the year. The prime minister of Ireland warned against over optimism about striking an agreement between two parties, saying that the chances of getting […]

Sterling likely faces a rough December as Britain’s transition period ends on Dec. 31 and still has yet to agree on a trade deal with the European Union, a Reuters poll said. The British pound has been shaky since the country decided to leave the European Union bloc in 2016, with the currency going up […]

U.S. services sector activity eased, posting its slowest pace in six months in November as businesses were held to control resurging coronavirus infections.  The decline poses concerns about the economy’s recovery being stalled. The Institute for Supply Management (ISM) reported on Thursday a 55.9 reading of its non-manufacturing index in November. The reading was the […]

Chinese exports and imports are predicted to advance faster than their usual pace in November. The expectation came after the world’s third-largest economy saw an increase in demand, while other countries’ factories are still grappling with the coronavirus drag, a Reuters survey showed on Friday. After recording an 11.4% jump in October, the country’s exports […]

The possibility of a massive stimulus package in the United States had sent Asian share markets up to their record peaks. Meanwhile, optimism that a coronavirus vaccine will greatly support the global economy boosted investors’ confidence. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.6% increase, placing above its historic jump last […]