Economic news

The dollar slips in thin trade on Friday, on course for weekly losses as investors favored risk assets. The improving risk sentiment was the result of upbeat COVID-19 vaccine news and hopes for a smooth Biden transition.  The dollar index lost 0.12% to 91.92 after dropping to a near three-month low of 91.84 overnight. It […]

Oil prices fell on Friday in subdued trade amid the U.S. Thanksgiving holiday and worries about oversupply. Doubts about a successful vaccine putting an end to the coronavirus pandemic also weighed on prices. Brent crude slid by 10 cents to $47.70 per barrel following a 1.7% fall overnight. U.S. West Texas Intermediate dropped 1.9%, or […]

China’s industrial firms had expanded as their profits accelerated for six consecutive months ended October. This also came to be the fastest pace of growth since 2017, indicating a firm rebound in the manufacturing sector after it was ravaged by the coronavirus crisis. On an annual basis, profits of China’s industrial firms climbed 28.2% to […]

Asian share markets were seen stagnant below their milestone peaks on Friday. This could be attributed to investors’ subdued sentiment as vaccine-driven hopes diminished, dragging down optimism that some of the region’s economies will recuperate faster than their Western peers. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.11%, placing just below its all-time […]

Bitcoin dropped over 6% in Asian trade on Thursday after failing to hit record highs. The world’s biggest and most well-known cryptocurrency traded around $17,700 after losing over $1,000 since its close in the last session. “While a quick visit in the upper or mid-16,000s is possible, we’re still trending up and with plenty of […]

The dollar was on the defensive on Thursday as downbeat U.S. economic data and optimism about coronavirus vaccines boosted risk sentiment for global commodities and emerging markets. The pound stood almost at a two-month high against the dollar as traders await the EU-Britain trade talks this week. The dollar index neared its lowest level in […]

Failure of securing a free trade deal between the U.K. and the European Union would cost the U.K. a 2% economic output slash while driving up inflation, unemployment, and public borrowing, the Office for the Budget Responsibility warned on Wednesday. The OBR reiterated its previous forecasts after deciding the prospect of a “No trade deal […]

China’s economic growth steadied in November built on strong global demand for exports as well as 5-year high stock market gains. Bloomberg’s aggregate index showed upbeat economic indicator figures for China, remaining on track of its recovery path and its sights of being the lone economy likely to expand this year. After gaining full control […]

The S&P 500 index had recorded a subdued session on Wednesday. The decline could be attributed to the United States’ ever-increasing unemployment rate amid the reimplementation of new lockdowns in a bid to control the coronavirus crisis. The Dow Jones Industrial Average dropped 0.56%, while the S&P 500 recorded a 0.7% loss. The Nasdaq composite […]

Asian shares made minimal losses on Thursday. The series of declines came after global markets eased from a massive rally. In addition to this, investors’ focus deviated from encouraging vaccine news to weak employment figures and freshly implemented lockdowns in the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan ended its session with […]