Economic news

The dollar hovered near a 2 1/2 -year low against a basket of currencies on Thursday as traders hoped for additional stimulus aid from Washington and as the anticipated COVID-19 vaccinations would likely boost risk assets. Even if Republicans and Democrats in Congress failed to reach an agreement on a new stimulus aid, there were […]

Oil prices dropped on Thursday as major producers fought over the need for extending record output cuts that were imposed at the beginning of the COVID-19 pandemic. Brent crude fell 0.3%, or 15 cents, at $48.10 per barrel following a 1.8% gain on Wednesday. U.S. oil slid 0.4%, or 17 cents, at $45.11 per barrel […]

November had seen an expansion in China’s services sector, with new businesses accelerating at the most rapid pace in over a decade. The reading released by a private survey highlighted a rebound in consumer demand after the country managed to put the coronavirus pandemic under control. The Caixin/Markit services Purchasing Managers’ Index (PMI) was read […]

Asian share markets recorded a mixed session on Thursday, tracking Wall Street’s choppy performance after the United States saw weak employment figures. Meanwhile, the U.S. dollar placed near 2-1/2 year lows on investors’ vaccine-driven optimism. Japan’s benchmark index Nikkei was flat, while South Korea’s KOSPI and Australia’s benchmark index hiked about 0.4%. Chinese shares started […]

World equity benchmarks soared, reaching near record highs and the dollar dipped anew to 2-1/2-year lows on Wednesday after investors weighed the possibility for more U.S. economic stimulus to address deteriorating American jobs figures. On Wall Street, the S&P 500 increased 6.55 points, or 0.18%, to 3,669; the Dow Jones Industrial Average went up 59.87 […]

The S&P 500 hit new records on Wednesday and the Nasdaq Composite Index dropped as investors considered progressive vaccine developments plus a brewing fiscal stimulus package to address the declining private jobs report. The S&P 500 was up 0.18% at 3,669.01 while the Nasdaq Composite Index dropped 0.05% to 12,349.37, dragged by a 2.7% slide […]

In the third quarter, Australia’s economy had recorded a strong rebound from its coronavirus-driven downturn. This followed after spending advanced, with consumers seen returning to their purchasing practices. In addition to this, the country’s monetary policy will stay loose for a while, a central banker said. The economy down under grew 3.3% from July to […]

Asian share markets recorded an upbeat performance on Wednesday. Despite a choppy trading session, shares across the region tracked Wall Street’s rally as vaccine optimism and hopes for more economic stimulus in the United States supported investors’ confidence. MSCI’s broadest index of Asia-Pacific shares outside Japan had seen a 0.27% increase. However, it failed to […]

The dollar hovered near a 2-½-year low on Wednesday as traders waited for more U.S. stimulus aid, while risk currencies held onto gains as sentiment improved. The dollar index slid to 91.19, near its weakest level since April 2018. The euro and the kiwi steadied after rising overnight. A lower-than-expected U.S. manufacturing activity data and […]

Oil prices fell on Wednesday after a sudden rise in U.S. oil inventories and as OPEC+ delayed a meeting on output policy. Brent crude futures fell 0.9%, or 41 cents, at $47.01 per barrel. U.S. West Texas Intermediate crude dropped 1%, or 46 cents, at $44.09 per barrel. U.S. crude stockpile climbed by 4.1 million […]