Петр Мазайло

Petr will teach you to optimize your work in the Forex market to increase its efficiency. He specializes in conducting a comprehensive analysis of sectors, objects, market conditions, etc.

Petr Mazaylo knows well how market functions and all the pitfalls in a market system. Using his knowledge, Petr has been successfully trading for over 13 years.

IMF, World Bank call for more COVID-19 vaccine for poor countries

International Monetary Fund Managing Director Kristalina Georgieva, together with other multilateral-organization leaders, asked nations with high COVID-19 inoculation rates to increase their efforts in providing doses to low-and middle-income countries. Georgieva and the heads of the World Bank Group, World Health Organization, and World Trade Organization expressed concern that the goal to vaccinate at least […]

Gold up but still set for second weekly loss

Gold edged up on Friday in Asia but was still on track for its second weekly loss. Investor attention is now focused on the U.S. Federal Reserve policy decision that could give insights into the central bank’s asset tapering timeline. Gold futures climbed up 0.12% to $1,758.75 by 11:39 PM ET (3:39 AM GMT). The […]

Canada inflation rate hikes ahead of election

Canada’s annual inflation rate went up to an 18-year high in August, propelled by broad upward price pressures. The inflation hike was shown by data released on Wednesday, days ahead of the country’s federal election that could spell the ouster of Canadian PM Justine Trudeau’s Liberals. The rate climbed up to 4.1% in August, the […]

Turkey posts weak factory output, high account deficit in July

Turkey recorded a year-on-year increase of 8.7% in its industrial output in July. However, it hugely missed forecasts after a strong rebound in recent months. Latest data also showed the country’s higher-than-expected account deficit. According to the Turkish Statistical Institute, industrial output declined 4.2% month-on-month in July on a calendar and seasonally adjusted basis. The […]

Euro stocks up amid optimistic outlook

European stocks edged higher on Monday, with investors believing the notion of a strong economic recovery in the region after the previous week’s European Central Bank’s policy decision. By 4 AM ET (0800 GMT), Germany’s Dax was trading 0.7% higher, while the French CAC 40 went up 0.5%, and the U.K.’s FTSE 100 added 0.5%. […]

Gold down as dollar recovers, investors await U.S. data

Gold dropped on Monday in Asia amid the dollar’s continuous recovery. Investors are now waiting for U.S. data to look for clues on the U.S. Federal Reserve’s timeline for asset tapering. Gold futures edged down 0.10% to $1,790.35 by 12:39 PM ET (4:39 AM GMT), after taking a 2.1% weekly decline. The dollar, typically moving […]

Aussie stocks climb higher at trade’s close

Australian stocks edged higher today following Friday’s close, as gains in the metals and mining and materials and resources sectors sent shares higher. The S&P/ASX 200 experienced a 0.50% increase at the close in Sydney. Among the session’s top performers on the S&P/ASX 200 is Nickel Mines Ltd, which climbed up 8.54% or 0.085 points […]

Dollar rises, investor focus back on Fed taper timeline

The dollar recorded gains on Friday morning in Asia following a selloff due to the United States’ jobs report released last week. Investors are still betting on the timeline of the U.S. Federal’s asset tapering. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.05% higher to 92.530 by 10:53 PM ET (2:53 […]

Worker shortage troubles UK

Employers in Britain struggle with severe job applicant shortage due to Brexit and recent lockdowns’ blow on the economy. The situation resulted in an unprecedented increase rate in starting pay for permanent employees, according to the Recruitment and Employment Confederation (REC). The REC said employers became more optimistic about the outlook in August. However, a […]

Japan posts weaker private consumption in July

Japan recorded a less-than-expected expansion in household expenditure in July. The decline was owed mainly to a new surge in COVID-19 infections that disrupted consumer activity, casting doubts on the country’s economic recovery. Household spending climbed 0.7% year-on-year in July following a revised 4.3% drop in June, based on the government data released on Tuesday. […]

Oil in shambles after Saudi price cuts

Oil prices were unsteady on Tuesday, with investors struggling with worries over demand. Saudi Arabia made sharp cuts on crude contract prices for Asia. Brent crude futures for November inched up 0.1%, or 4 cents, to $72.26 a barrel by 0056 GMT, following its 39-cent drop on Monday. U.S. West Texas Intermediate (WTI) crude for […]

Strong foreign demand lifts Germany’s July industrial orders

Germany’s industrial orders surprisingly increased in July based on official data released on Monday. Its latest figure touched a post-reunification high, indicating a strong start to the second half. The Federal Statistics Office posted a seasonally adjusted 3.4% gain in orders for goods ‘Made in Germany’. It was better than analysts’ projection of a 1.0% […]

Dollar hovers near one-month low on weak U.S. jobs report

The dollar performed well during the start of the trading week in Asia. However, it lingered close to a one-month low following investors’ stalled expectations on the United States’ Federal Reserve’s asset tapering timeline. The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.14% higher to 92.165 by 10:51 PM ET (2:51 AM […]

Japan sees better GDP growth in Q2

Japan’s economy was seen to expand more than previously reported in the second quarter due to higher business expenditure, according to a Reuters poll. However, a new surge in coronavirus cases is expected to slow growth in the future. The country’s gross domestic product (GDP) was projected to have a revision of an annualised 1.6% […]

U.S. manufacturing activity expands, labor crisis persists

The United States’ manufacturing activity recorded an unforeseen expansion in August driven by strong order growth. However, a measure of factory employment declined to a nine-month low due to a scarcity on workers. The Institute for Supply Management (ISM) index on national factory activity jumped to 59.9 from July’s 59.5. This contributed 11.9% to the […]

Dollar rises but hovers near two-week lows

The dollar climbed on Tuesday morning in Asia but stayed close to two-week lows. Market moves were fairly small as August comes to a close and investors anticipate the United States job data, including the non-farm payrolls this week. The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase of 0.01% to […]

Dollar climbs on COVID-19 vaccine FDA approval

The dollar gained on Thursday morning in Asia but stayed close to a one-week low as fears on the COVID-19’s economic blow eased. Investors now focus on the U.S. Federal Reserve’s Jackson Hole symposium for hints on asset tapering timeframe. The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase […]

Oil takes breather after 2-day rally

Oil prices sank lower on Wednesday, taking a breather following the week’s strong rally. The black liquid’s earlier rally was fueled by the loss of a quarter of Mexico’s production and indications that China has stamped out its COVID-19 outbreak. Brent crude futures lost 0.1%, or 9 cents, to $70.96 a barrel by 0639 GMT, […]

BOJ cautions of economic risks as COVID-19 lingers

Bank of Japan board member Toyoaki Nakamura had cautioned the country about the latest surge in COVID-19 infections’ impact to the economy. However, he expressed optimism that demand would pick up once consumers felt comfortable enough to start spending. Japan will recover once the pandemic’s blow to economy diminishes and as a strong global demand, […]

Dollar records small gains ahead of Fed symposium

The dollar climbed on Tuesday morning in Asia. However, investors kept their bets minimal in anticipation of the United States’ Federal Reserve’s announcement on asset tapering and interest rate hikes during its symposium on Aug. 26 to 28. The U.S. Dollar Index that measures the greenback against other major currencies tallied an increase of 0.10% to 93.062 […]

Latest COVID-19 surge weakens Japan’s factory activity

Japan marked a slow growth in its factory activity in August, while the services sector declined at the fastest rate since May last year, reflecting the COVID-19’s blow to the economy. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 52.4 in August after touching a final 53.0 […]

Australia records unexpected drop in jobless rate

The unemployment rate in Australia recorded a surprise decline in July. This came as hours worked dropped and lesser job seekers alleviated the impact of Sydney lockdown in curbing the Delta virus variant outbreak. Data from Australian Bureau of Statistics on Thursday showed a 4.6% slump in the jobless rate. Economists initially projected a 5% […]

Sri Lanka first to raise interest rates in Asia

The Central Bank of Sri Lanka (CBSL) raised its interest rates to combat inflationary pressures and high imports that contributed to the rupee’s 8% devaluation this year. It was the first central bank in Asia to do so. The CBSL increased the existing deposit facility rate and lending facility rate by 50 basis points each, […]

RBA ready to act should pandemic slow economic recovery

As Australia grapples with COVID-19 restrictions to curb a new surge in a more contagious Delta variant, the Reserve Bank of Australia (RBA) assured to evaluate its bond-buying program considering the nation’s economic factors and health situation. The central bank maintained its bullish sentiments made two weeks ago with a planned tapering of bond purchases. […]

Gold stumbles, virus fears curb losses

Gold fell on Tuesday in Asia but remained near a more than one-week peak. The continually rising numbers of coronavirus cases globally and the recent lackluster Chinese economic data lifted safe-haven assets. Gold futures crept down 0.11% to $1,787.90 by 12:18 AM ET (4:18 AM GMT) after it reached its highest level since August 6 […]

Japan’s economy recovers in Q2

Japans’ economy beat recovery expectations in the second quarter after a decline at the start of the year. The development indicated the country’s consumption and capital expenditure’s recuperation from the COVID-19 pandemic blow. Preliminary gross domestic product (GDP) data on Monday showed an annualized 1.3% growth in April-June after a 3.7% drop in the previous […]

Dollar drops on weak U.S. consumer confidence

The dollar fell and hovered near a one-week low on Monday morning in Asia. It dropped to its lowest level in seven weeks on Friday following a sharp decline in the United States’ consumer confidence that reduced the chances of the Federal Reserve tightening its monetary policies. The U.S. Dollar Index that measures the greenback against other […]

Gold keeps gains amid decline in sentiment, virus fears

Gold maintained its gains, as a decline in US consumer sentiment and worries over the more virulent Delta variant of the coronavirus increased demand for the safe-haven asset. Global markets returned to a cautious state after the data released on Friday showed a drop in the US consumer sentiment in early August. The drop in […]

Dollar weakens, investors look for hints on Fed taper’s timeline

The dollar performed poorly on Friday morning in Asia but hovered close to a four-month high. Meanwhile, investors remain in anticipation of the United States’ Federal Reserve’s timeline for its asset tapering and interest rate hikes. The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.08% crash to 92.968 by 11:27 PM […]

Economists cut Japan’s economic growth forecast in Q3

Japan’s economy is seen to expand slower than expected in the third quarter as a spike in new coronavirus infections continues to disrupt the country’s economic rebound. Based on the Aug. 2-11 poll of around 40 economists conducted by Reuters, the economy was projected to grow an annualized 2.7% in the July-September quarter. This was […]

UK records economic growth in June

Britain’s economy expanded by a faster-than-expected 1.0% in June. The growth was owed to a boost in the services sector after an increase in medical visits and the resumption of hospital firms’ indoor services. Gross domestic product (GDP) climbed 0.8% month-on-month, according to a Reuters poll of economists. The Office for National Statistics revised its […]

Dollar falls, slow inflation soothes pressure on Fed taper

The dollar dropped in early European trade on Thursday. This came after hints of slowing inflation in the United States eased pressure on the Federal Reserve to start its massive bond-buying program. The Dollar Index that measures the greenback against other major currencies dropped around 0.1% to 92.898. The USD/JPY pair remained at 110.41, while […]

Singapore revises 2021 GDP forecast as inoculation rates rise

Singapore’s economy grew faster than expected in the second quarter, prompting the government to revise its prediction for 2021. This came after a significant progress in COVID-19 inoculation at home and in other significant markets. Gross domestic product (GDP) grew 14.7% year-on-year in the second quarter, beating the initial government and analysts’ forecasts of 14.3% […]

Gold drops amid strong US jobs data

Gold fell down in Asia on Monday, following a decline of as much as 4.4% to an over four-month low. Meanwhile, strong US jobs data fanned fears that the US Federal Reserve would increase interest and begin asset tapering earlier than expected. Gold futures sank 1.19% to $1,742.10 by 1:20 AM ET (5:20 AM GMT), […]

Oil rises, set to face largest weekly loss

Oil stood to make gains on Friday, but remained poised for its biggest weekly decline since March. Travel restrictions imposed by several countries as they struggle to contain the spread of the coronavirus’ Delta variant have raised concerns about fuel demands. Brent crude oil futures climbed up 47 cents at $71.76 a barrel at 0640 […]

South Korea’s inflation accelerates in July

South Korea’s consumer inflation accelerated in July and placed at a nine-year peak touched in May. Prices of fresh food jumped due to hot weather conditions, while agricultural and oil products, housing rental, and other service costs also surged. Statistics Korea data on Tuesday showed the consumer price index (CPI) escalated 2.6% year-on-year. This record […]

Oil up as US draw hits low

Oil rose in Asia on Thursday morning, as the latest data from the US showed a draw in the country’s crude oil supplies to their lowest level since January of the previous year. Brent oil futures jumped 0.34% to $74.12 by 11:43 PM ET (3:43 AM GMT) while WTI futures increased by 0.37% to $72.66, […]

Gold up as Fed stays silent on asset tapering timeline

Gold was on the rise in Asia on Thursday morning, reaching its highest level in more than a week. Meanwhile, the US Federal Reserve remained mum on the timeline for its tapering plans in its latest policy decision. The central bank further added that it was “ways away” from looking at interest rate hikes. Gold […]

Australia’s lockdown may force reversal of taper decision

Australia’s central bank is set to reverse its decision to cut its bond-buying program in its monthly meeting next week.  The reversal is triggered by the stricter COVID-19 restrictions in Sydney that hampered the country’s economic rebound. Of the 44 economists surveyed by Reuters, only one predicted a 0.05% cut in the Reserve Bank of […]

Dollar falls on Fed’s dovish stance

The dollar placed around a two-week low after dropping on Thursday in Asian trade. It was dragged down by the Federal Reserve Chairman Jerome Powell’s remark of an unlikely interest rate hikes. The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.17% crash to 92.157. This came after three consecutive declines during […]

European stocks up as earnings boost investors mood

European stocks went up on Wednesday, boosted by positive earnings report from the British bank Barclays and luxury group Kering that prompted investors to overlook concerns about China’s regulatory crackdown that has kept markets on edge this week. The pan-European STOXX 600 inched up 0.4%, recovering from two sessions of declines. In the UK, Barclays […]

Gold down ahead of Fed policy decision

Gold dropped on Tuesday morning in Asia as investors become wary ahead of US Federal Reserve policy decision. The Fed’s decision, to be announced later in the week, could provide clues on when the central bank will adopt a more hawkish tone. Gold futures stayed below the key $1,800 mark, dipping 0.11% to $1,797.25 by […]

China sees slow growth in June industrial profit

China’s economic recovery faces a new bump in the road as profit from its industrial firm  slowed for the fourth straight month in June due to high raw material prices. Tuesday’s data from the National Bureau of Statistics showed a 20% year-on-year increase in industrial firms’ profits to 791.8 billion yuan ($122.27 billion) in June. This […]

Japan posts slowest factory activity expansion in five months

A private sector survey on Monday showed Japan’s factory activity expanded at the slowest pace in five months in July, a development that threatens to stall the country’s economic recovery from the coronavirus pandemic.  The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) dropped to a seasonally adjusted 52.2 in July from a […]

Dollar rises, ends trading week without much changes

The dollar rose on Friday morning in Asia but was expected to end the trading week close to where it started. Investors took stock following a volatile week in which currencies moved due to fluctuating risk appetite levels. The U.S. Dollar Index that measures the greenback against other major counterparts tallied a 0.05% increase to 92.880. The USD/JPY pair […]

Gold down as dollar continues dampened recovery

Gold dropped on Friday in Asia but still recovering from the over one-week low hit in the last session. Retreating US bond yields and weaker-than-expected US economic data have also contributed to dampening the effect of the dollar’s recovery. Gold futures dipped 0.6% to $1,804.35 by 1:09 AM ET (5:09 AM GMT) following its lowest […]

U.S., China’s demand fuels Japan’s exports

Hopes were up for an economic recovery in Japan following a surge in exports in June fuelled by the United States’ demand for cars and China’s chip-making equipment needs. Japan saw a 48.6% export growth in June from a year earlier, the country’s double-digit gain for four straight months despite its problems with global chip […]

Dollar rises, investors seek safe-haven assets on COVID-19 fears

The dollar rose on Tuesday morning in Asia, while growing fears that the COVID-19 Delta variant could hamper economic recovery resulted in an increase in safe-haven currencies. The greenback and the Japanese yen placed near multi-month highs versus the Australian dollar and the pound. The U.S. Dollar Index that measures the greenback against other major counterparts tallied […]

Oil recovers, threatened by pandemic, supply concerns

Oil prices held steady on Tuesday following their 7% drop in the previous session. The drop was precipitated by the retreat of markets due to worries about an increase in COVID-19 cases worldwide, coming just as producers agreed on a new supply deal. Brent crude went up 0.6%, or 38 cents, to $69.00 a barrel […]

Dollar steady as Fed chair announces dovish stance

The dollar was steady on early Thursday in Europe after yesterday’s drop. The Federal Reserve’s chair, Jerome Powell, announced it was too early to withdraw the central bank’s monetary support for the economy. The Dollar Index that measures the greenback against other major currencies traded marginally lower at 92.350, falling back from the high of […]

Dollar drops, investors bet faster-than-expected monetary policy tightening

The dollar fell on Wednesday morning in Asia, touching a three-month high versus the euro and a one-week high versus the yen. The U.S. Federal Reserve is speculated to speed up tightening its monetary policy amid higher-than-expected inflation in the United States. The U.S. Dollar Index that measures the greenback against other major currencies dropped […]

US Dollar holds steady ahead of inflation data as Aussie, Yuan get boost

The US dollar hardly moved against the euro, yen, and pound on Tuesday ahead of US inflation data, while the Australian dollar and Chinese Yuan stepped up following favorable numbers from Beijing. The prospect of US stimulus withdrawal which had been brought by a surprise shift in the tone of the Federal Reserve has bolstered […]

Asian shares up, investors brace for busy week

Asian shares recorded an upbeat performance during its early Tuesday trade as Wall Street reached record highs overnight. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%.Australian shares recorded an increase of 0.49%, while Japan’s Nikkei stock index climbed 0.79%.China’s blue-chip CSI300 index shed 0.1%, while Hong Kong’s Hang Seng index gained 0.65%. Wall Street’s main indexes closed […]

Asian stocks, oil up amid OPEC+ talk collapse

Asia Pacific stocks were up on Tuesday morning in parallel with escalating oil prices as investors continue to mull over the implications of the falling out in the Organization of the Petroleum Exporting Countries and allies’ (OPEC+) talks regarding output. In Japan, Nikkei 225 went up 0.34% by 10:07 PM ET (2:07 AM GMT) while […]

Oil climbs as OPEC+ postpones production policy meeting

Oil prices rose on Wednesday morning in Asia as the Organization of the Petroleum Exporting Countries and allies (OPEC+) moved this week’s production policy meeting to Thursday, allowing ministers more time to reach a deal. Brent Oil Futures climbed 0.61% to $74.73 while Crude Oil WTI Futures were up 0.69% to $73.48. The American Petroleum […]

Oil falls, but near 2018 highs ahead of OPEC+ Meeting

Oil dropped on Monday morning after reaching October 2018 price levels. Talks on reviving a nuclear deal between U.S. and Iran continue, while the Organization of the Petroleum Exporting Countries and allies (OPEC+) convenes later in the week. Brent oil futures dropped 0.23% to $75.21, rolling over to the Sep. 21 contract on Jun. 27, […]

Oil floats above $73 as declining U.S. stockpiles tighten market

Oil floated above $73 a barrel as declining U.S. crude and fuel stockpiles compounded to bullish outlook around the global demand recovery. New York’s oil futures remained steady, advancing 0.3% on Wednesday. Gasoline inventories surprisingly fell in the previous week, while crude stockpiles dropped for a fifth week in a row, the longest drop since […]

Oil lifted by key markets, rises ahead of OPEC+ meeting

Oil edged up on Wednesday trade in Asia as a strong economic rebound of key consumers bolstered fuel demand and drained bloated inventories. Investors now focus on the upcoming OPEC+ meeting to get hints on production policy. Brent oil futures gained 0.59% to $75.25 by 12:40 AM ET and WTI futures added 0.47% to $73.19. […]

Japan’s factory activity decelerates in June

An expansion seen in Japan’s manufacturing sector decelerated the sharpest in four months ended June. The decline could possibly be from flat lines that the world’s third-largest economy was experiencing ahead of Tokyo’s Olympic Games in July.   The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) was read at a seasonally adjusted […]

Asian shares decline on Fed aftermath

Tuesday saw a decline in Asian share markets, with investors still digesting the possible effects of the Federal Reserve’s sudden hawkish shift.  Japan’s benchmark index Nikkei stood as the biggest decliner, recording a total of 3.3% drop to slip below 28,000 for the first time in a month. MSCI’s broadest index of Asia-Pacific shares outside […]

Oil falls as dollar firms; demand outlook remains bullish

Oil prices dipped anew on Friday as the dollar steadied on the prospect of interest rate hikes in the United States. However, prices were on track to end slightly changed and only nearly off multi-year highs. Brent crude futures dropped 45 cents, or 0.6%, at $72.63 a barrel to extend a 1.8% decline on Thursday. […]

Mining stocks weigh on European shares, drag STOXX 600

Commodity prices fell on Friday as mining stocks weighed on European shares. A hawkish policy outlook from the U.S. Federal Reserve dampened the fifth straight week of gains for the STOXX 600. The mining index dipped 0.1%, bringing total weekly declines to more than 5%. The pan-European STOXX 600 was flat by 0708 GMT. The […]

Asian shares gain; on track for weekly loss on hawkish Fed

Asian share markets reached high grounds on Friday, but the upswing was viewed fleeting as they head towards a week of losses. The dollar also peaked as investors assess the Federal Reserve’s decision of implementing rate hikes in 2023. After four subdued sessions, MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.01%. Hong Kong’s […]

Dollar rises as Fed signals rate hikes in 2023

The dollar climbed during early trade in Europe on Thursday. The rise was seen on higher levels unachieved for around two months following the Federal Reserve’s surprised markets with a hawkish turn, bringing forward its timetable for raising interest rates to 2023. The Dollar Index, which tracks the greenback against a basket of six other […]

Toyota posts new record high, thanks shareholders for support

Shares of Toyota Motor Corp reached a record high on Wednesday, prompting the company’s president to give a rare message of thanks during t its annual general meeting. Japan’s leading automaker breached a share price of 10,000 yen ($90.84) on Tuesday for the first time, as investors welcomed Toyota’s strong sales, electric plans as well […]

European shares clinch longest win streak since 2019 as recovery optimism flourishes

European shares extended its winning streak to eight, their longest winning streak since 2019. This was due to the growing optimism for global economic recovery among investors, lifting industrial stocks and technology shares tracking an overnight jump in their U.S. peers. The pan-European STOXX 600 gained 0.4% in its longest winning streak in more than […]

Bitcoin up after Musk announced Tesla could use it again

Bitcoin reached a two-week high just below $40,000 on Monday following Elon Musk’s announcement via Twitter that tesla may resume transactions using the world’s largest cryptocurrency. Bitcoin advanced more than 9% after Musk’s tweet, breaking above its 20-day moving average, and it jumped slightly further in Asia to hit $39,838.92. Bitcoin has gyrated to Musk’s […]

Fed-driven sentiment sends global shares near peaks

Global share markets placed near their record peaks, while U.S. bond yields remained stagnant near a three month low. Investors’ enthusiasm was mainly driven by expectations that the Federal Reserve would keep its dovish stance later this week. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged 0.1%, while Japan’s benchmark Nikkei advanced 0.35%. China, […]

China’s factory gate prices reach historic highs in May

A gauge of China’s factory prices was seen at its highest level in over 12 years in May. The record was attributed mainly to an increase in global commodity prices and a low base of comparison. The country’s consumer prices also advanced, though they failed to breach expectations. The producer price index (PPI) recorded a […]

Asian shares ease on mixed Chinese data

Most of Asia’s financial markets performed flatly during their early Wednesday trade. Investors’ enthusiasm was dampened ahead of U.S. inflation figures as mixed inflation data from China weighed on sentiment. Japan’s benchmark index Nikkei plunged 0.25%, while Australia saw a 0.09% decline. South Korea’s KOSPI erased 0.21% even after the country’s gross domestic product recorded […]

Gold drops as investors await inflation data

Gold dipped on Tuesday trade in Asia, lurking near below the $1,900 mark as investors await more hints later in the week to gauge inflationary pressure. Gold futures dropped 0.03% to $1,898.30 by 12:12 PM ET. The dollar, which usually moves inversely to gold, advanced but remained below the three-week high of 90.627 hit during […]

Dollar up following strong economic data

The dollar soared in European trade on Friday, reaching multi-week highs following the release of a slew of strong economic data and investors’ anticipation for the monthly payrolls figures which hinted at the possibility of earlier-than-expected Federal Reserve policy tightening. The Dollar index soared 0.1% at 90.605, reaching a new three-week high. EUR/USD lowered 0.1% […]

Gold retreats, hovers near five-year highs after China Caixin Services Data release

Gold slid on Thursday trade in Asia but lurked above its five-year highs following the release of China Caixin Services Data. Investors also await key U.S. economic data for hints about the economic outlook. Gold futures lowered 0.13% to $1,907.45 by 11:57 PM ET. However, it remained above the $1,900-mark. The dollar, which usually moves […]

China’s services activity decelerates in May

China had seen a deceleration in its May factory activity, a private survey showed on Thursday. The decline was mainly attributed to dwindling overseas demand and surging costs, which brought in pressures for the country’s businesses. The Caixin/Markit services Purchasing Managers’ Index (PMI) was read at 55.1 in May, a figure lower than the 56.1 […]

Asian shares ease as U.S. payrolls dampen market mood

Asian share markets placed below a three-month through, with China performing a shade weaker as investors grew cautious ahead of key U.S. figures. Meanwhile, crude prices tallied an upbeat session, putting oil indexes near their historic highs. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.3% increase. With a total of 711 points, […]

U.S. posts strong manufacturing activity in May

The United States saw an acceleration in its May manufacturing activity. This was attributed mainly to surging demand, which supported orders amid the country’s emergence from the coronavirus drag. However, pending tasks continued to mount as raw materials and labor fell short. The Institute for Supply Management’s index of national factory activity was read at […]

Asian shares advance on upbeat U.S. figures

Asian share markets were seen upbeat as global equities placed near a record high on Wednesday. The series of upswings came after the United States posted an expansion in its manufacturing activity, heavily indicating that the world’s largest economy has been gaining tighter momentum. After a record high on Tuesday, MSCI’s gauge of shares across […]

Gold higher, steadies above $1,900-mark over mixed Chinese data

Gold shone brightly on Monday trade in Asia as the dollar weakened and bond yields lowered after investors digest Chinese economic data. Gold futures advanced 0.15% to $1,908.25 by 1:49 AM ET, remaining above the $1,900-mark. The gold contract rolled over to the Aug 21 contract on May 30. The dollar, which usually moves inversely […]

China’s factory activity decelerates on surging costs of raw materials

China saw a minimal decline in its factory activity in May. The contraction was due to an increase in raw material prices and supply constraints, which dragged the industrial sector including small and export-heavy businesses. The official manufacturing Purchasing Manager’s Index (PMI) was read at 51.0 in May. The figure came lower than the 51.1 […]

Oil climbs with increase in U.S. fuel demand

The success in COVID-19 vaccine drive in the United States has propelled fuel demand ahead of the summer driving season that will see commencement in the weekend. Authorities American Petroleum Institute and the U.S. Energy Information Administration disclosed draws in the U.S. crude oil supplies within the earlier chapters of the week. In line with […]

European shares inches higher, Bayer in a bind

Thursday saw European shares inching higher as investors waited patiently for key U.S. labour data. Meanwhile, German shares fell after Bayer shares were hit by a court decision. On the trading day, the pan-European STOXX 600 index climbed 0.1% to 445.76 points, just beneath what Tuesday’s record high of 447.15. Among the notable performers, Airbus […]

China posts upbeat industrial profits in April

Industrial firms in China saw an increase in earnings, but the expansion came at a slower pace in April. This was mainly attributed to surging commodity prices and downbeat consumer goods that heavily weighed on the manufacturing sector’s profitability. Industrial firms’ profits recorded an annualized 57% increase, securing a total of 768.63 billion yuan in […]

European stocks higher as central banks vow to ease monetary policy

European stock markets performed in an upbeat manner on Wednesday, almost hitting all-time highs as many central bank officials vowed to keep monetary policy relaxed despite recent indications of an inflation rise. The pan-European STOXX 600 index improved 0.3% by 0711 GMT. Germany’s DAX gained 0.4%. France’s CAC 40 added 0.3% and UK’s FTSE 100 […]

Asian shares jump, dollar hits low grounds on dovish Fed stance

Asian share markets were seen upbeat on Wednesday, while the dollar hovered near its lowest level this year. This came after the Federal Reserve decided to keep its accommodative policy rates, easing some inflation-related pressures that made investors cautious for days. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.28% increase. Japan’s benchmark […]

European stocks hit record high as German property deal, tech rally

European stocks posted new record highs on Tuesday as Germany’s biggest property developers merged for a billion-dollar bill and technology shares rallied over brighter investor sentiment after digesting soothing comments on inflation. The pan-European STOXX 600 index edged up 0.3% to an all-time high of 446.47 points after breaching its early-May peak of 446.19. Germany’s […]

Dollar hovers near six-year low, Fed minutes and inflation in focus

The dollar hovered near a six-year trough against the loonie and several European currencies as expectations that U.S. interest rates will stay low undermined the dollar. Investors await consumer price data from Canada and Britain due later in the day to get hints at how fast major economies will rein in their accommodative monetary policy, […]

Gold Hits Three-and-a-Half Month High Over softer Dollar, Inflation Concerns

Gold shone on Tuesday trade in Asia as the dollar softened and rising inflation continued to press worries on investors. Gold futures gained 0.02% to $1,868.05. This was the yellow metal’s highest level in more than three months (since February 1, 2021). The dollar, which usually moves inversely to gold, fell near multi-month lows. Investors […]

Asian shares advance; global economic recovery loses momentum

Asian share markets were mostly upbeat during their early Tuesday trade. This followed after investors gauged the diverging stages of different countries’ economic emergence from the coronavirus crisis. Japan’s benchmark index Nikkei performed 2.14% higher as the country tallied a 5.1% year-on-year contraction in its GDP. South Korean shares hiked 1.14%, while Australian shares advanced […]

British firms ramp up search for new staff but foreign workers missing – survey

Businesses in the United Kingdom boosted their search for new workers as pubs, restaurants and other hospitality and travel firms reopen on Monday. Adzuna’s survey revealed on Monday that the lack of foreign workers is aggravating a shortage of applicants, with over 10 jobs on offer for every job-seeker in some cities. Job posting on […]

China’s industrial output decelerates, retail sales place below expectations

China saw a deceleration in its industrial output in April. Meanwhile, retail sales came lower than what was expected by analysts, underscoring more pressures that might cap consumption’s momentum towards recovery.  The country’s industrial production recorded a 9.8% year-on-year increase in April, data from the National Bureau of Statistics showed on Monday. The figure placed […]

European stock markets rise as Fed officials downplay inflation concerns

European stock markets followed Wall Street’s overnight rally Federal Reserve’s officials fended off growing inflation concerns among investors. Germany’s DAX futures contract was up 0.1%. The FTSE 100 futures contract in the U.K. improved by 0.4%. CAC 40 futures in France jumped 0.6%. On Thursday, all three major U.S. stock indexes posted massive gains, recovering […]

Dollar hovers near year-low levels as traders eye inflation

The dollar lingered near its weakest levels of the year on Wednesday as investors clung onto bets that the U.S. Federal Reserve would maintain dovish policy settings ahead of inflation data. The dollar hit its lowest against the euro in two months, following an upbeat European growth survey. It stood just above the $1.2140-level in […]

U.K. economy posts stronger-than-expected growth in March, gears up for recovery

Official data released by the Office for National Statistics on Wednesday showed Britain’s economy surpassing the growth forecast as it posted a 2.1% expansion in March. The retail sector led the growth, along with the construction sector, and the reopening of schools in the U.K. In the first quarter of 2021, when the U.K. was […]

European stock markets dip as inflation concerns zoom larger

European stock markets opened low on Tuesday trade as inflation concerns worried investors. Germany’s DAX futures contract slid 0.4%.  CAC 40 futures in France lowered 1.1% and the FTSE 100 futures contract in the U.K. dipped 1.1%. The Dow Jones Industrial Average closed 0.1%, or 35 points, lower Monday, ending its five-day win streak. The […]

U.K. retail sales soar as shoppers buy clothes at home

Surveys revealed on Tuesday that British retail sales soared as shoppers bought clothes at home amid the reopening of shops in the United Kingdom. According to the British Retail Consortium, total sales for the month of April went 7.3% higher than in the same period two years ago. The BRC reported that comparisons with April […]

China’s factory gate prices reach historic highs in three years

Factory gate prices in China advanced at their fastest pace in three and a half years in April, official data showed on Tuesday. The acceleration could be attributed to the country’s sustained economic momentum after its economy saw an expansion in the first quarter. The producer price index (PPI) recorded an annualized 18.3% increase from […]

Copper sees historic peak on demand hopes, tighter supply

Copper prices reached an all-time high record in both London and Shanghai markets on Monday. The jump came after investors’ enthusiasm was fueled by improving demand amid tightening supply. Three-month copper on the London Metal Exchange advanced to a record peak of $10,660.50 per tonne during its early session. It then eased to $10,657 per […]

Gold shines as dollar, Treasury yields pulled down by positive U.S. economic data

Gold shone brightly on Friday trade in Asia, concluding the week near to a two-and-a-half-month high. The dollar fell to its lowest in a week and the U.S. Treasury yields dropped near its two-week low as investors digest encouraging U.S. economic data. Gold futures gained 0.28% to $1,820.85 as the dollar, which moves inversely to […]

UK construction maintains brisk growth in April as lockdown lifts – PMI

British construction activity grew rapidly in April, near its six-and-a-half-year record posted in March as lifted COVID-19 lockdowns bolstered demand, a survey revealed on Friday. The IHS Markit/CIPS Construction Purchasing Managers’ Index (PMI) slightly lowered to 61.6 in April from 61.7 in March, despite the survey’s gauge of new orders rising to its highest level […]

Dollar on defensive ahead of U.S. jobs data

The dollar was on the defensive on Friday ahead of a key U.S. jobs report that could cement hopes for a strong economic recovery and improve appetite for stocks, currencies and commodities.  The dollar index traded near 90.868, its lowest level so far in the week. It lost nearly 0.4% overnight. The pound stood at […]

Oil climbs on upbeat China, U.S. economic data

Oil prices rose after a 1% decline in the last session on positive economic data from China and the United States even as the worsening COVID-19 crisis in India capped prices. Brent crude futures for July contract rose 0.6%, or 38 cents, at $68.47 per barrel. U.S. West Texas Intermediate crude for June delivery was […]

Britain’s Next upgrades profit projection for second time in two months

Next, a British-based fashion retailer increased its full-year profit projection for the second time in two months after posting stronger-than-expected first-quarter trading. Next reported on Thursday its central guidance for pretax profit in the 2021-2022 fiscal year increased to 720 million pounds ($1 billion), from the previous 700 million pounds projection made in April. The […]

Dollar rallies as risk appetite fades

The dollar reached a two-week high on Tuesday as risk appetite faded amid a stock sell-off. This came after U.S. Treasury Secretary Janet Yellen said that interest rates may need to increase to prevent the economy from overheating. The dollar’s safe-haven appeal was further supported when the Nasdaq slid over 2%, the S&P over 1%, […]

Firming dollar, interest rate hike drag gold down

Gold had a lackluster start on Wednesday trade in Asia as the dollar strengthened and the interest rate hike concern grew. Gold futures lowered 0.60% to $1,781.10. The greenback, which usually moves inversely to gold, was up on Wednesday. According to U.S. Treasury, an interest rate hike might be put in place to cool down […]

European stock futures mixed

The persisting concern of rising coronavirus cases in India and optimism for global growth as major economies reopen resulted in a mixed trading performance among European stock markets. Germany’s DAX futures contract lowered 0.2%. CAC 40 futures in France also dropped 0.2%. On the bright side, the FTSE 100 futures contract in the U.K. improved […]

Asian shares plunge on dwindling China economy

Asian share markets performed poorly during their early Friday trade. Stocks failed to track Wall Street’s overnight rally as a slew of economic figures across the region dampened investors’ enthusiasm. China’s Shanghai Composite recorded a 0.61% drop, while the Shenzhen Component traded 0.47% lower. The series of declines followed after the country’s Purchasing Managers Index […]

Oil prices rise as bullish demand outlook outweighs India crisis

Oil prices extended gains on Thursday after climbing 1% in the last session as bullish forecasts on improving demand outweighed worries about the effect of surging COVID-19 cases in India, Brazil, and Japan.  Brent crude for June delivery climbed 0.3%, or 22 cents, at $67.49 per barrel, while U.S. West Texas Intermediate crude for June […]

Asian shares gain on dovish Fed, Biden’s new stimulus

Asian share markets advanced during their early trading session on Thursday. This followed after the Federal Reserve said that it was still early to cut its emergency support for the economy, with U.S. President Joe Biden’s new fiscal stimulus also supporting investors’ risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% […]

Australia’s inflation recedes amid cut costs in gov’t programs

Consumer prices in Australia increased at a slower pace than initially thought in the first quarter of the year amid lowered costs in government programs set in place to boost economic recovery. Data from the Australian Bureau of Statistics showed Wednesday the trimmed mean core inflation gauge increased 0.3% from the final quarter of 2020, […]

Ethereum soars to record high on report of EIB digital bond issuance

Ethereum soared to greater heights on Wednesday as it posted a new record high over the European Investment Bank’s plans to launch a “digital bond” sale on the ethereum blockchain network. Ether posted its highest record of $2,713.95 on Wednesday, following a more than 5% rally the previous day. The second-largest cryptocurrency in the world […]

Japan retail sales accelerate in March

Japan’s retail sales advanced at their fastest pace in five months ended March. The expansion came after consumer demand recuperated from a sharp plunge it suffered from the coronavirus crisis last year. Retail sales recorded a 5.2% jump in March from a year ago, government data showed on Wednesday.  The reading came larger than the […]

Oil rises on U.S., Europe demand hopes

Oil prices climbed on Friday in hopes of a U.S. and European fuel demand recovery on easing lockdowns and faster economic growth. However, worries about India’s worsening second COVID-19 wave capped gains.  Brent crude futures gained 0.3%, or 21 cents, at $65.61 per barrel, following an 8-cent rise on Thursday. U.S. West Texas Intermediate crude […]

Weakening dollar and declining U.S. Treasury yields push gold up high

Gold was all set to post a third straight weekly gain as the dollar and the U.S. Treasury yields groped for form on Friday’s trade. Gold futures gained 0.17% to $1,785.05. As investors heard the news that President Joe Biden could almost double the tax on capital gains to 39.6% for those earning more than […]

Oil climbs to new 4-week highs on improved demand outlook

Oil prices rose to new four-week highs on Thursday on upbeat U.S. economic data and higher demand forecasts as countries begin to recover from the COVID-19 pandemic. Brent futures climbed 0.5%, or 36 cents, at $66.94 per barrel on Thursday after gaining nearly 5% on Wednesday. U.S. West Texas Intermediate crude gained 0.5%, or 31 […]

U.S. retail sales accelerate, weekly jobless claims drop

Retail sales in the United States marked their sharpest level of growth in March. The reading, which came as the strongest in ten months, followed after Americans received additional pandemic relief checks from the government. Expedited coronavirus rollouts also supported the jump, increasing expectations for a well-established economic rebound. Data from the Commerce Department showed […]

European stocks rise as positive corporate earnings show up

Positive corporate earnings ruled in the markets on Thursday, pushing European stocks higher. Germany’s DAX inched up 0.4%. The FTSE 100 in the UK and the CAC 40 in France improved 0.4% and 0.2%, respectively. European stocks were riding on the surging global shares in recent weeks brought about by the hopes that successful vaccination […]

Asian shares cautious, dollar hits low ground

Asian share markets recorded a subdued trading session on Thursday, with Wall Street performing weakly as a selloff in Coinbase dragged technology-related shares. Meanwhile, the dollar index traded poorly near its one-month low. After two consecutive days of gains, MSCI’s broadest index of Asia-Pacific shares went inactive. It was last seen at 690.53, placing below […]

Singapore’s first-quarter GDP expands year-on-year

Singapore’s economy posted a surprising expansion in the first quarter from a year ago. The jump could be attributed mainly to the country’s upbeat manufacturing activity, Wednesday data showed. On an annual basis, gross domestic product advanced 0.2% from January to March. The figure released by the Ministry of Trade and Industry came stronger than […]

Dollar hovers near three-week troughs as traders await inflation data

The dollar languished near a three-week low against major peers on Tuesday, pressured by a decline in Treasury yields as traders waited for the highly anticipated U.S. inflation data later in the day.  The dollar declined with U.S. yields this month after rallying to multi-month peaks on hopes that massive stimulus and continued monetary easing […]

Dollar declines on lower U.S. yields, inflation data in focus

The dollar hovered near 2 ½-week lows against major currencies on Monday as a drop in Treasury yields restrained the greenback.  Both the dollar and bond yields took a breather after rallying to multi-month peaks last month, supported by bets that a fast U.S. pandemic recovery will boost inflation faster than Fed policymakers expect. The […]

Corporate earnings, U.S. figures weigh on Asian shares

Asian share markets were seen downbeat on Monday as investors waited if corporate earnings in the United States would come parallel with sky-high valuations. Meanwhile, strong U.S. inflation and retail sales might affect bonds’ performance this week. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.6% lower. Japan’s benchmark index Nikkei plunged 0.5%, while […]

Dollar on course for weekly loss as data, Fed cool market

The dollar was on course for its worst week of the year on Friday as unexpectedly strong European economic data, downbeat U.S. employment figures, and an accommodative Federal Reserve urged traders to unwind dollar bets. The euro and the yen were set to gain their largest weekly percentage rise in five months. The dollar index […]

S&P jumps, Treasury yields salvage losses on Fed’s dovish stance

The S&P 500 and the Dow ended their sessions higher, while Treasury yields salvaged minimal losses. This came after the Federal Reserve’s policy meeting rendered a dovish outlook, with central bank members believing that the country’s economic recovery is still fragile despite signs of progress. The Dow Jones Industrial Average gained 0.05%, while the S&P […]

Dollar, yields fall despite promising U.S. pandemic recovery

The dollar dropped to a near two-week low against its peers on Tuesday, falling along with Treasury yields that dropped from recent highs despite signs of U.S. economic recovery. Since end-March, the dollar index hovered near its lowest level, falling further in early Asian trade after dropping 0.4% on Monday.  The Japanese yen recovered from […]

COVID-19 measures drag Japan’s household spending in Feb

Japan saw a decline in household spending, marking the third consecutive month of contraction in February. Data released on Friday showed that the drop was mainly from the country’s implementation of coronavirus measures in a bid to combat the coronavirus. This, in turn, dragged economic outlook and consumption. On an annualized basis, household spending recorded […]

Asian shares jump on recovery-driven sentiment

Asian share markets were seen upbeat on Tuesday as another batch of strong economic figures in the United States heavily fueled investors’ enthusiasm. However, currency and bond markets eased after an upswing recorded by the dollar and U.S. Treasury yields.   MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.4% increase. Japan’s benchmark […]

Chinese factory activity, US Treasury yields surge drag Gold down

China’s faster-than-expected factory activity growth and U.S. Treasury yields conspired to take down gold in Asian trade on Wednesday. Gold futures slipped 0.42% at $1,679 as the dollar, which normally trades inversely to gold, gained on Wednesday. China released its manufacturing Purchasing Manager’s Index (PMI) that saw a 51.9 reading in March. It fared better […]

Asian shares to record first monthly loss on bond rout

While Asian share markets performed positively on Wednesday, they were still on track for their first monthly decline since October. The U.S. dollar, on the other hand, reached high grounds as investors’ enthusiasm was fueled by the prospect of a stable global economic recovery. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4%, marking […]

Japan posts weak factory output in Feb

Japan’s industrial output reached low grounds in February as the country’s production of automobile and electrical machinery plunged. This, in turn, heightened concerns that the world’s third-largest economy is still struggling to emerge from the coronavirus crisis. The country’s factory output recorded a 2.1% drop in February, official data showed on Wednesday. The figure came […]

Dollar hits 1-year high against yen as inflation fears boost yields

The dollar rose to a one-year high against the yen on Tuesday amid a rise in Treasury yields, as speedy vaccination rollouts and a massive U.S. fiscal stimulus stoked inflation worries. The dollar hit the 110-level against the yen in Asia, its highest since March 2020. It is on track for its best month since […]

Dollar finds footing on strong U.S. economy, euro slides

The dollar firmed against the euro on Monday as a cautious market mood urged investors to seek safety. A promising U.S. economic recovery and speedy vaccine rollouts also supported the dollar. The euro fell 0.1% to $1.1783 in Asian trade, not far above last week’s low of $1.1762 and right below its 200-day moving average […]

Facebook, Google team up to have new undersea cables to connect Southeast Asia and America

In a bid to bolster internet connection capacity between Southeast Asia and America, Facebook partnered with Google for a project that will produce two new undersea cables to connect countries like Singapore, Indonesia and North America. Kevin Salvadori, Facebook Vice President of Network Investments confirmed the development and said the two cables, named Echo and […]

U.S. consumer spending, income plunge ahead of stimulus package

The United States had seen its consumer spending plunged to its sharpest in 10 months. The decline, which was seen in February, followed after large portions of the country’s economy suffered from inactivity and as a second round of stimulus checks for middle- and lower-income households faded. Consumer spending, which covers more than two-thirds of […]

Mexico’s economy to advance with ease: finance ministry

Mexico’s economy was predicted to expand more than 5% this year. The finance ministry viewed that an expansion would come easily, with the government working on ways to reduce tax evasion before discussing potential tax reform. Vaccinations across the globe and U.S. President Joe Biden’s massive stimulus package were expected to alleviate the country’s economy, […]

U.S. Inflation Risks, government debt pile up, study shows

After U.S. President Joe Biden enacted one of the largest fiscal stimulus in history, inflation risks are starting to mount, economists said. They are also worried about the growing debt of the government. The National Association for Business Economics survey conducted Feb. 22-March 5 showed that more than sixty percent of economists suggest that inflation […]

Asian shares see mixed performance as lira supports bonds

Asian share markets recorded a mixed session as bonds advanced on Monday. This followed after the Turkish lira dropped, prompting talks that capital controls are necessary to alleviate the downswing. The lira lagged behind the dollar, and the rout was mainly from President Tayyip Erdogan’s unexpected dismissal of Turkey’s central bank governor. In turn, analysts […]

Dollar on defensive after Fed dampens rate hike speculation

The dollar eased on Thursday as the U.S. Federal Reserve said it was unlikely to raise interest rates through all of 2023 despite a swift economic recovery. The dollar index traded at 91.488 after hitting a two-week low of 91.340 as Fed Chair Jerome Powell dampened speculations on stimulus policy.  The euro fell to $1.19655 […]

Global shares advance on Fed’s stance, bright GDP outlook

Asian share markets and U.S. stock futures gained on Thursday. The series of gains followed after the Federal Reserve decided to maintain its accommodative monetary policy while expecting that the economy of the United States would stage an impressive rebound from the coronavirus crisis. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.99% […]

Dollar firms in cautious trading ahead of Fed meeting

The dollar held on to gains made on Tuesday as caution dominated the currency markets ahead of major central bank gatherings, starting with the Federal Reserve’s two-day meeting that will start later in the day. The dollar lingered below its highest level since June against the yen. It stood at $1.19 on the euro in […]

European stock futures go up, ECB policy meeting looms large

European stock markets were upbeat opening Thursday trade as it got a huge lift from the U.S. Congress’ approval of Biden’s coronavirus relief package. Germany’s DAX futures contract was up 0.1%, France’s CAC 40 futures added 0.3%, and U.K.’s FTSE 100 futures contract improved 0.4%. The euro zone’s shift will turn to the upcoming policy meeting […]

Decline in Japan’s wholesale prices slows on easing pandemic drag

Japan saw its wholesale prices drop at a slower pace for three consecutive months ended February. This heavily indicates that a recent rebound in fuel prices and an increase in domestic demand will likely alleviate the country’s economy from deflationary pressures. The corporate goods price index (CGPI) posted a 0.7% annualized contraction, data from the […]

Adidas sees strong rebound sales for 2021

Germany’s sportswear brand Adidas forecast a strong rebound in 2021 sales, with its Asian and Latin American stores doing the heavy lifting as it braces for costs associated with divesting the Reebok brand. Adidas is set to present its five-year strategy on Wednesday, which includes the sales outlook for 2021. The company’s sales for the […]

Asian shares recover from low levels as bonds, China markets steady

Asian share markets recovered from a two-month low on Wednesday. Investors’ upbeat sentiment was mainly from a decline in bond yields, with Chinese shares also performing well after a wild upswing brought about by policy tightening worries. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%, recovering from its two-month low record seen the […]

U.S. wholesale inventories climb in January

U.S. wholesale inventories posted upbeat figures in January supported by strengthening demand. This boosts hopes for faster economic growth in the U.S. Data released by the Commerce Department showed a 1.3% increase in wholesale inventories. Stocks at wholesalers improved 0.6% in December. The component of wholesale inventories that goes into the calculation of gross domestic […]

Dollar firms against low-yielders, risk currencies fall

The dollar firmed against its low-yielding peers on Tuesday on bets for a quicker pandemic recovery, while the Aussie looked to RBA for guidance. The dollar index traded at 91.014 after hitting a three-week high of 91.139 overnight. The euro dropped to $1.2049. The common currency fell under pressure as ECB officials warned against rising […]

Oil prices fall 1% on worries over higher OPEC supply, weak China demand

Oil prices dropped over 1% on Tuesday, extending last week’s losses as hopes that OPEC would raise oil supply in a meeting this week contributed to pressure and concerns over slow-moving demand in China. Brent crude slid 1.1%, or 70 cents, at $62.99 per barrel following a 1.1% loss on Monday. U.S. West Texas Intermediate […]

SoKor’s factory activity gains fastest momentum in February

February had seen South Korea’s factory activity accelerating at its most rapid pace in almost 11 years, a private poll showed on Thursday. In turn, the impressive expansion in production and new orders greatly supported the recovery in the manufacturing-heavy economy. The IHS Markit purchasing managers’ index (PMI) placed at 55.3 in February, jumping from […]

Oil rebounds as U.S. House passes massive coronavirus bill

Oil prices recovered over $1 on Monday after the U.S. House of Representatives passed a massive economic package, but a decline in Chinese factory activity growth in February capped gains. Brent crude futures for May contract were up 1.7%, or $1.07, at $65.49 per barrel. The April contract expired on Friday.  U.S. West Texas Intermediate […]

Dollar firms after surge in U.S. yield, yen continues fall

The dollar held gains made on Thursday after bouncing from three-year lows overnight following a surge in U.S. bond yields.  The yen dropped to a new six-month low against the dollar. The Aussie and the Canadian dollars dropped from three-year highs.  The 10-year Treasury yield rose above 1.6% overnight for the first time in a […]

Oil drops on stronger dollar, prospect of more supply

Oil prices dropped on Friday as a decline in bond prices resulted in gains for the dollar and hopes that with oil back to pre-pandemic levels, higher supply is likely to return to the market.  U.S. West Texas Intermediate crude futures fell 0.6%, or 36 cents, at $63.17 per barrel. It lost all gains made […]

Upbeat exports, solid construction activity lift German economy in Q4

Germany bounced back better than expected in the fourth quarter of 2020, as the Federal Statistics Office on Wednesday showed a 0.3% economic growth amid the coronavirus pandemic. After the country surpassed the 0.1% growth estimate, the Federal Statistics Office moved up its 2020 full-year GDP estimate to -4.9% from -5.0%. Europe’s biggest economy contracted […]

Global shares advance on upbeat bond yields, resources

Asian share markets recorded a cautious session on Monday. The series of increases came after investors’ sentiment was fueled by recovery hopes, with inflation heavily dragging bonds and supporting commodities. Meanwhile, an increase in bond yields made equity valuations more stretched in comparison. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2% as Japan’s […]

Japan’s consumer price drop eases; weak demand restricts outlook

Japan’s core consumer prices posted another month of decline, hitting their sixth straight month of weak records in January. However, their pacing came slower than usual, bringing in some relief for policymakers as the economy suffers from the coronavirus crisis. Core consumer prices recorded an annualized 0.6% contraction in January, government data showed on Friday. […]

Oil gains $1 as deep freeze curbs U.S. crude output

Oil prices gained nearly $1 on Thursday, extending this week’s gains and reaching 13-month highs as a cold front shut down Texas oil wells and refineries, curbing a million barrels of crude production.  Brent crude rose 1.5%, or 93 cents, at $65.27 per barrel, its highest since Jan. 20, 2020. U.S. West Texas Intermediate crude […]

Oil drops on stronger dollar, but Texas supply strained

Oil prices dropped in early trade on Wednesday, falling back after a two-day rally driven by a cold front capping oil and gas field output in Texas.  U.S. West Texas Intermediate crude futures lost 0.6%, or 33 cents, at $59.72 per barrel, falling from a 13-month high of $60.95 hit on Tuesday. Brent crude futures […]

China’s cinema stocks advance on strong holiday revenue

Hong Kong had seen a jump in its cinema stocks on Tuesday. This followed after box offices in China tallied a revenue record of over 6 billion yuan for the week starting Feb. 11 as the Lunar New Year sparked movie enthusiasm. Data from Maoyan Entertainment showed that the record placed above the previous week-long […]

European stocks soar as vaccine optimism grows

European stocks rose on Monday as economic recovery hopes weighed on markets. The growing optimism in economic recovery stems from the speeding pace of inoculations in the European bloc. Germany’s DAX futures contract gained 0.1%, the United Kingdom’s FTSE 100 futures contract improved 0.6%, and France’s CAC futures inched up 0.7%. Health Commissioner Stella Kyriakides […]

Brexit effects supply woes for small UK manufacturers: Survey

More than half of about 300 small British manufacturers surveyed in January lamented over the price hikes and disruption woes in the supply chain caused by the new customs checks set in place as part of the post-Brexit trade restrictions. In the survey conducted by the South West Manufacturing Advisory Service (SWMAS) in January that […]

Asian shares hover near record high, Bitcoin soars

Asian shares subdued on Friday trade, ending near their record high amid mixed U.S. economic data causing investors to hold back. On the winning side, Bitcoin reached $49,000, its highest level ever, before closing at $48,282. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.03%, closing near its highest peak recorded in the previous […]

Japan’s household spending crashes on restricted recovery

December had seen Japan’s household spending drop for the first time in three months. This heavily indicates that the country’s consumer sentiment was dwindling even before the government implemented virus-related restrictions. Household spending recorded a 0.6% drop in December, official data showed on Friday. While the record came slower than the 2.4% median forecast, it […]

Pandemic drags Shell’s profit, plunges 71% in 2020

With the pandemic taking a heavy toll on global businesses, hardly hitting energy demand, Royal Dutch Shell found itself suffering from a sharp profit downturn in 2020. Shell’s 2020 profit suffered from a 71% decline. The company’s oil and gas production was also heavily impacted, with its adjusted earnings for 2020 slumped to $4.8 billion. […]

Solid corporate earnings propel European stocks

European stock markets had an upbeat trading performance on Thursday as investors responded to solid corporate earnings turn out. Germany’s DAX gained 0.5%; the CAC 40 in France added 0.5%; U.K.’s FTSE index jumped 0.6%; and Italy’s FTSE MIB increased 0.2%. On the corporate side, Bayer stock inched up 5% after the German company sealed […]

Stocks soar as global economic outlook brightens

U.S. stock futures and Asian shares prospered on Wednesday as governments around the world prepare to boost spending to lift economies and continue to recover from the coronavirus crisis. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.58%. Australian stocks added 0.92% while shares in China declined 0.03%. Japan’s Nikkei improved 0.9% and Korean […]

Ford, Google team up to deliver cloud-based data services

With an aim to develop new consumer services and modernize internal operations, Ford Motor and Google are working on a six-year partnership as the automaker seeks software, artificial intelligence, and cloud computing from Alphabet Inc. Ford is planning to integrate the tech giant’s Android operating system into its Ford and Lincoln vehicles starting in 2023. […]

Dollar sits near seven-week peak, boosted by euro selloff

The dollar sat near a seven-week high on Tuesday, supported by an overnight euro selloff after COVID-19 restrictions hit consumer spending in Europe. The euro fell the most in 2 ½ weeks on Monday after German retail sales dropped more than anticipated in December. The dollar rose even as stocks rallied, defying a recent trend […]

Dollar to end week strong as market tensions remain, boosting safe-haven bid

The dollar rose on Friday, on course for a weekly gain, as lingering tension from a coordinated assault on a U.S. hedge fund short positions lifted demand for safe havens. The dollar benefited from safety buying since the beginning of the week when investors feared that Biden’s U.S. stimulus plan will not be as big […]

Oil steadies as production cuts offset demand fears

Oil prices steadied on Friday, stuck in ranges for the past three weeks, as traders looked for hints of shifting demand and supply fundamentals. A decrease in Saudi’s oil supply and lower U.S. crude inventories offset price pressures from fuel demand.  Brent crude futures for March delivery gained 0.1%, or 4 cents, at $55.57 per […]

China sees upbeat industrial profits in December

China’s industrial firms had seen an increase in profits, making another expansion in December to complete an eight-month rally. The jump underscored a brisk recovery as the country’s manufacturing sector emerged from the coronavirus drag. On an annual basis, profits advanced 20.1% in December to 707.11 billion yuan. This came after a 15.5% increase was […]

Oil falls as U.S. stimulus wrangles, surge in coronavirus cases hit sentiment

Oil prices dropped on Tuesday as fading hopes for a fast approval of new U.S. coronavirus stimulus and a surge in new COVID-19 cases raised doubts about demand recovery. Brent crude lost 0.5%, or 28 cents, at $55.60 per barrel. U.S. crude slid 0.5%, or 25 cents, at $52.52 per barrel. Both contracts gained almost […]

Oil prices drop as coronavirus lockdown worries offset demand hopes

Oil prices fell for a second consecutive session on Monday as replaced COVID-19 restrictions raised new worries about global oil demand.  Brent crude futures for March delivery slid 0.1%, or 8 cents, at $55.38 per barrel. U.S. West Texas Intermediate crude for March was down 1 cent to $52.26 per barrel. China posted a rise […]

Dollar rebound fades as traders boost risk sentiment

The dollar was on course for its worst week of the year on Friday as traders cheered in the Biden administration. Investors supported risk assets and boosted bets that a pandemic recovery could push the dollar lower.  The dollar fell nearly 0.8% this week to a one-week low of $1.2173 against the euro on Friday. […]

Turkey bares $18.5 billion public investment plan for 2021

Turkey has unveiled a 138.5 billion lira ($18.53 billion) public investment programme set for this year, with transportation and communication sectors getting the largest allocation of the investment funds. Published in the Official Gazette on Friday, Turkey will embark on a public investment programme that is seen to boost its virus-beaten economy. Almost $6 billion […]

China sees upbeat fourth-quarter GDP on sustained recovery

China had seen an economic expansion in the fourth quarter, recording a 6.5% jump from a year earlier, data from the National Bureau of Statistics showed on Monday. The growth in the country’s gross domestic product came faster than the 6.1% forecast predicted by economists in a Reuters survey. More so, the figure placed higher […]

Dollar rebound pauses as Fed’s Powell strikes prospects of higher interest rates

The dollar’s rebound from a near-three-year low failed after Federal Reserve Chair Jerome Powell said that interest rates would not rise soon. The release of the details of a $1.9 trillion U.S. stimulus aid failed to support the dollar. The dollar index rallied after hitting its lowest level since 2018 last week, as the prospect […]

Oil mixed as Chinese virus cases, lockdowns raise demand worries

Oil prices were mixed on Friday as high Chinese import data, which boosted sentiment earlier, met difficulties with several Chinese cities put on lockdowns due to rising coronavirus cases. Brent crude futures lost 3 cents to $56.69 per barrel following a 0.6% gain on Thursday. U.S. West Texas Intermediate crude rose 12 cents to $53.69 […]

Biden reveals plan to inject $1.9 trillion stimulus package to U.S. economy

In an effort to lift the ailing, virus-battered economy and hasten inoculations, U.S. President-elect Joe Biden officially publicized on Thursday a $1.9 trillion stimulus package. The stimulus package to be injected into the economy includes $415 billion to boost virus response and hasten inoculations, $1 trillion worth of payout to American households, and around $440 […]

Coronavirus, renewed supplementary payments drive U.S. weekly jobless claims at high

The United States had seen an increased level of applicants filing for unemployment benefits last week. The surge in the country’s weekly jobless claims underscored a struggling labor market as the coronavirus pandemic takes a toll on restaurants and other business operations. For the week ended Jan. 9, initial claims for state unemployment benefits jumped […]

Dollar rally pauses as U.S. yields fall

The dollar fell on Wednesday as a fall in U.S. yields paused momentum for its rebound and traders resumed bets that it would drop. 10-year U.S. Treasury yield benchmark dropped almost 7 basis points from a 10-month peak on Tuesday and the turnaround cut a three-day streak for the greenback. Against the euro, the dollar […]

U.S. labor market decelerates on surging coronavirus cases

The United States had seen a mild contraction in its labor market in November. In addition to this, an increased number of layoffs amid the coronavirus pandemic indicated that the jobs market’s rebound from the pandemic was losing momentum. The Job Openings and Labor Turnover Survey released by the Labor Department on Tuesday came parallel […]

Dollar extends rebound as hopes for stimulus aid cap short bets

The dollar extended its rebound on Monday as U.S. yields rose and hopes for more stimulus to support the economy boosted bearish bets, pulling the greenback from recent multi-year lows. President-elect Joe Biden, together with Democrats who gained control of both houses in Congress, has promised “trillions” in additional COVID-19-relief spending. The Aussie and the […]

China’s factory price drop eases in December

December had seen China’s factory gate prices drop at their slowest pace since February, official data showed on Monday. This highly indicates that the country’s manufacturing sector is consistent in staging a brisk rebound from the coronavirus drag. The producer price index (PPI) recorded a 0.4% plunge from a year ago, the National Bureau of […]

U.S. holds off French tariff to probe global taxes

The United States declared Thursday its cancelation of tariffs on French cosmetics, handbags, and other imports that it imposed in July last year. The indefinite suspension of French tariffs starting Wednesday would take effect to make room for 10 investigations into similar taxes in India, Italy, Britain, and other countries. The U.S. Trade Representative’s office […]

Dollar nears multi-year lows as Democrats win Senate

The dollar sat near a three-year low on Thursday after Democrats won the U.S. Senate, paving the way for a bigger stimulus package under President-elect Joe Biden. Currency markets barely budged amid the chaos in Washington as supporters of outgoing President Trump swarmed U.S. Capitol. The dollar index climbed 0.1% to 89.444 in Asian trade […]

Fed policymakers stick to status quo on policy outlook, minutes reveal

Federal Reserve policymakers were sticking with the current rates and bond purchases, the minutes of the central bank’s meeting showed on Wednesday. This resolve is seen as the central bank’s support for economic recovery as inoculations continue to roll across the country. The released meeting minutes on Wednesday showed the decision of the Federal Open […]

Asian shares advance as Democrat party secures Senate

Bonds recorded a subdued performance, while Asian share markets advanced on Thursday. This came after investors’ sentiment was fuelled by the prospect of massive borrowing and spending as Democrats secured both houses of the United States Congress. MSCI’s broadest index of Asia-Pacific shares outside Japan placed near a record peak with a 0.5% increase. The […]

UK lockdown triggers biggest annual drop in car sales since World War 2

Britain’s new car sales had a nearly 30% drop, its biggest fall since World War Two, as  COVID-19 restrictions forced the sector to cease operations temporarily, the trade industry reported on Wednesday. Initial data from the Society of Motor Manufacturers and Traders (SMMT) revealed that car demand was at 1.63 million cars in 2020. During […]

Dollar eases as virus cases rise

The dollar rose on Tuesday as worries about rising coronavirus cases and uncertainty about U.S. runoff elections in Georgia boosted demand for safe assets. The dollar held overnight gains in early Asian trade on Tuesday after U.S. stocks fell from record highs at the start of the year. The pound fell under pressure as Prime […]

Oil steadies as investors keep an eye on OPEC+ output talks

Oil prices steadied on Tuesday after OPEC+ continued deadlock negotiations on February oil production, while fuel demand worries hovered amid new coronavirus restrictions. Brent crude futures for March delivery gained 0.2%, or 8 cents, at $51.17 per barrel. U.S. West Texas Intermediate crude for February contract rose 0.3%, or 12 cents, at $47.74 per barrel. […]

Asian shares plunge as Georgia runoffs rake concerns

Asian share markets were seen subdued on Tuesday. This followed after investors grew wary over Senate runoffs in Georgia- a salient factor that bears significance on the economic policies that President-elect Joe Biden would implement during his tenure. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.34% decline, reversing from its record peak […]

Oil gains on hopes that OPEC+ likely to maintain production cuts

Oil prices climbed on Monday on expectations that OPEC+ may limit output at current levels starting February at a meeting later in the day. This was decided as the coronavirus pandemic heightens concerns about oil demand in the first half of the year. Brent crude for March contract rose 1.2%, or 62 cents, at $52.42 […]

Oil drops on sudden U.S. crude stocks build, Trump threat to coronavirus aid

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, […]

US consumer confidence crashes to four-month low

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 […]

Japan’s record $1 trillion budget focuses on COVID-19 damage to growth, debt

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 […]

Dollar steadies after week of selling, investors eye Brexit deal, coronavirus relief

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. […]

Japan’s consumer price drop accelerates in November

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 […]

Asian shares ease, stimulus hopes support sentiment

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 […]

UK finance minister to extend job support programme

Rishi Sunak, Britain’s Finance Minister formally announced on Thursday his plan of extending a job support programme by another month until the end of April. The finance minister also affirmed that COVID-stricken businesses would be offered new COVID loans until the end of March next year. The news broke out after Sunak announced that he […]

Dollar falls as progress on U.S. stimulus, Brexit deal boost risk appetite

The dollar sank to new 2 ½-year lows against major peers on Thursday as progress on a U.S. stimulus package and a Brexit trade deal lifted risk appetite at the cost of safer assets. The dollar index dropped to 89.995 in Asian trade, sinking below 90 for the first time since mid-2018. The euro stood […]

Bank of England to wait for Brexit-EU trade pact outcome

The Bank of England is set to withhold more stimulus on Thursday as it waits for any adverse economic effects once Britain and the EU do not agree on a trade deal in two weeks. The EU and Britain are still sorting things out to eschew the burden of import tariffs on trade from Jan. […]

Oil slides on sudden U.S. stockpile build, demand concerns

Oil prices fell on Wednesday on a sudden build in U.S. crude oil stockpile and as investors worried about fuel demand being squeezed amid stricter lockdowns in Europe. Brent crude futures dropped 0.2%, or 11 cents, at $50.65 per barrel. U.S. West Texas Intermediate crude futures slid 0.2%, or 9 cents, at $47.53 per barrel. […]

Oil falls on demand concerns as lockdowns tighten

Oil prices dropped on Tuesday as stricter restrictions in Europe and a forecast for a slower demand recovery next year outweighed upbeat news from vaccine rollouts and worries about rising tensions in the Middle East. U.S. West Texas Intermediate crude futures slid 0.8%, or 36 cents, at $46.63 per barrel. Brent crude futures dropped 0.8%, […]

China’s industrial output grows on accelerated recovery

November had seen China’s industrial output grow in line with forecasts.  The expansion marked the sector’s eighth consecutive month of growth as the country’s economic emergence from the coronavirus drag accelerated and global demand picked up. Industrial output advanced 7.0% in November year-on-year, data from the National Statistics Bureau showed on Tuesday. The figure hit […]

Global shares advance on vaccine-, stimulus-led sentiment

Global share markets were seen upbeat on Monday as investors weighed the possibility of additional fiscal and monetary stimulus in the United States. Moreover, the British pound recovered from low grounds on post-Brexit trade. After reaching a series of milestone peaks last week, MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.1%. Japan’s benchmark […]

Bank of Israel to provide non-bank credit offers to COVID-hit small firms

Repo transactions with supervised non-bank credit providers would be available to small businesses badly hit by the coronavirus crisis to boost credit supply, the Bank of Israel announced on Sunday. The non-credit bank offer would be introduced in the first week of January, according to the bank. The new monetary scheme aims to increase credit […]

Britain, Brussels agree to continue trade talks beyond Sunday deadline

In an effort to circumvent a chaotic Brexit on Dec.31, leaders of Britain and the European Union concurred on Sunday to continue trade talks past its set Sunday deadline to reach an elusive free trade deal. EU Commissioner Ursula von der Leyen and British Prime Minister Boris Johnson ordered their negotiators on Sunday to continue […]

China tops auto industry recovery with more-than-expected sales

China’s auto sales this year are seen to hit up to 25 million units, an industry body said on Friday. China leads the global auto industry recovery from downfall during the COVID-19 pandemic onslaught. China Association of Automobile Manufacturers’ executive vice-chairman Fu Bingfeng announced during its annual conference in Beijing that the institution expects Chinese […]

Asian shares ease on Brexit, stimulus concerns

Asian share markets took a breather from their milestone peaks on Thursday. The series of declines could be attributed to investors’ dampened sentiment brought by a sell-off in tech stocks and stimulus concerns in the United States. In addition to this, sterling traders were seen wary over an impasse in Brexit talks. MSCI’s broadest index […]

Oil falls on rising coronavirus cases, strict lockdowns

Oil prices slid on Tuesday as the state of California enforced stricter lockdowns through Christmas and as coronavirus infections continued to rise in the United States and Europe.  U.S. West Texas Intermediate crude futures dropped 0.4%, or 18 cents, at $45.58 per barrel. Brent crude futures lost 0.5%, or 24 cents, at $48.55 per barrel. […]

Britain, EU to confer for Brexit trade deal

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 […]

Oil prices fall as OPEC+ resume talks on extending production cuts

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 […]

China’s manufacturing activity sees decade high in November

November had seen the fastest pace of growth recorded by China’s factory sector in a decade, a business survey showed on Tuesday. The reading came while the world’s second-biggest economy emerges from the pandemic drag toward its pre-pandemic levels. After hitting 53.6 in October, the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) advanced to 54.9 in […]

Japan retail sales, factory output seen higher, virus resurgence dims outlook: Reuters poll

Japan’s retails sales finally posted upbeat figures after eight months of slump and factory output likely grew for five months in a row. These developments, along with other significant data, were revealed by a Reuters poll on Friday. Trade ministry data is expected to show a 2.1% increase in industrial output month-on-month in October, up […]

Brent hits strongest level since March, boosted by coronavirus vaccine hopes

Brent crude hit its highest levels since March as a third COVID-19 vaccine candidate boosted hopes of a faster recovery in fuel demand.  U.S. President-elect Joe Biden had been given the go signal to begin his leadership transition.  Brent crude futures gained 0.9%, or 43 cents, at $46.49 per barrel. U.S. West Texas Intermediate crude […]

Asian shares climb on Biden’s transition, vaccine progress

Asian shares recorded an upbeat performance on Tuesday. The series of increase came after markets’ sentiment was supported by reports that U.S. President-elect Joe Biden was given the approval to start his White House transition. In addition to this, encouraging news about a coronavirus vaccine bolstered gains. Biden’s plan of nominating former Federal Reserve Chair […]

Australian regulator investigates stock market outage

Australia’s corporate regulator is doing an investigation at the country’s stock exchange on an outage that happened last week. The outage disrupted trading systems and almost eliminated an entire session, according to bourse operator ASX Ltd on Monday. The software problem stopped trade just 20 minutes into the session. The issue raised worries about the […]

Oil rises on COVID-19 vaccine hopes

Oil prices rose on Monday as investors were optimistic about improving crude demand amid successful coronavirus vaccine trial results. However, gains were capped by renewed lockdowns in many countries.  Adding to the sentiment boost was OPEC and its allies’ decision to keep crude output in check. Brent crude futures gained 0.4%, or 17 cents, at […]

Global shares plunge on axed U.S. stimulus

 On Friday, global share markets were underpinned by U.S. Treasury Secretary Steven Mnuchin’s decision of nullifying some the country’s coronavirus relief programs.  The cancellation of funds for struggling businesses sparked a dispute between the Federal Reserve and the Department of Treasury. In Asia, Japan’s benchmark index Nikkei recorded a 0.5% drop as South Korea’s KOSPI […]

Global stocks hit record on vaccine hopes

Global shares rose to record highs for a third straight session as positive news about COVID-19 vaccines relieved worries about rising coronavirus infections and related economic damage. Pfizer Inc shares climbed 0.78% after the drugmaker announced that its COVID-19 vaccine was 95% effective. Pfizer is also applying for emergency authorization from the United States within […]

Wall Street declines as COVID-19 restrictions dampen vaccine hopes

After a late selloff on Wednesday, shares in the United States recorded a dampened session. This came after investors’ vaccine-driven sentiment was hurt by an upsurge in new COVID-19 infections and newly implemented restrictions in a bid to control the coronavirus pandemic. While Wall Street’s major indexes advanced, with economically sensitive cyclicals and small caps […]

S&P 500, Dow reach historic highs on renewed vaccine hopes

Wall Street was seen upbeat on Monday, with the S&P 500 and the Dow Jones industrial average hitting milestone peaks. This followed after encouraging vaccine-related news fuelled investors’ optimism. However, surging infections and newly implemented restrictions capped the possibility of staging a brisk recovery from the coronavirus downturn. All of Wall Street’s major indexes gained, […]

Oil prices rise on hopes of OPEC+ supply curb

Oil prices rose on Monday, recovering last session’s losses as hopes that OPEC and its allies will maintain existing output cuts, thus offsetting worries about weak fuel demand. This came amid the resurgence of global coronavirus cases and rising production from Libya.  Brent crude futures for January climbed 1%, or 44 cents, at $43.22 per […]

WeWork’s revenue plunges; shift in office use supports rebound

The third quarter had seen a drop in WeWork’s revenue. However, its cash burn decelerated, the company announced on Thursday. In addition to this, the management remains complacent that the shared-workplace provider can neutralize the effect of the coronavirus on the corporate sector. The company’s quarterly revenue dropped a total of 8% from the second […]

Oil drops as virus surge sparks demand fears; on track towards weekly gain

Oil prices were seen struggling during their early trade on Friday. This followed after an increase in new coronavirus infections sparked concerns about the global economy and short-term fuel demand. But with vaccine optimism still in the air, oil prices were expected to record another week of gain. After shedding 0.8% on Thursday, U.S. West […]

Yen recovers on dwindling vaccine hopes

On Friday, the Japanese yen recovered after investors’ focus shifted back to safe-haven currencies. This came after encouraging results from a coronavirus vaccine remain inadequate in alleviating the economic impact of a trying winter in the United States and Europe. Against the dollar, the yen advanced 0.2% in Asia. The jump came to be the […]

UK economy decelerates in September

The struggling and virus-beaten economy of Britain had advanced 1.1% in September. The reading came slower than what was expected from a month ago, even before the latest restrictions on businesses were implemented, official data showed. The figure placed below the 1.5% monthly growth predicted by economists in a Reuters survey. Moreover, the country’s gross […]

Nasdaq gains as focus shifts to tech, crude rallies

Technology shares greatly supported the Nasdaq, with the index closing its session higher than its previous record. Meanwhile, oil prices advanced further on Wednesday as vaccine-driven optimism was dampened by the possibility of lockdown reimplementation amid surging coronavirus infections. The Dow Jones Industrial Average had seen a 0.08% drop, while the S&P 500 fell 0.77%. […]

Asian shares rally further on U.S. defensive shift

Asian stock markets were poised for another hefty rally on Thursday. This was expected as consistent global stimulus efforts and optimism brought by a coronavirus vaccine bolstered investors’ sentiment. Australian shares recorded a 0.29% jump during their early trade. Futures for Japan’s benchmark index Nikkei dropped, while Hong Kong’s Hang Seng index futures saw a […]

Dollar falls on vaccine worries, kiwi hits strongest level in over a year

The dollar dropped on Wednesday as optimism about a coronavirus vaccine was overpowered by concerns about its delivery and by a spike in U.S. coronavirus cases. Optimism about the coronavirus vaccine boosted the dollar against the yen and the Swiss franc, but the momentum soon faded. The dollar index fell to 92.633. The dollar dropped […]

China’s auto sales advance in October; leads global auto recovery

China’s automobile sales recorded a 12.5% increase in the year ended October. The jump marked the automobile sector’s seventh consecutive month of gains as the world’s largest vehicle market tops the global industry in recovering from the coronavirus drag. After Toyota and Honda monitored a surge in sales in China, both automobile manufacturers had increased […]

U.S. jobs, employment indicate struggling labor market

Job openings in the United States expanded below expectations in September. Meanwhile, hiring was as subdued, indicating that the labor market was struggling even before fresh coronavirus cases reemerged. Even though layoffs reached record lows in nearly two decades, the Labor Department’s monthly Job Openings and Labor Turnover Survey revealed that more than one person […]

Toyota and Honda announce their boosted net profit forecast in 2020

On Friday, Toyota Motor Corp (7203.T) and Honda Motor Corp (7267.T) announced that they had doubled their operating profit forecasts in light of the recovering car demand in China as it rebounds from the coronavirus outbreak. “If you compare our second quarter with the first, you can see a dramatic recovery,” Toyota’s Operating Officer Kenta […]

Siemens Gamesa to reach its profit target in the next three years

On Thursday, Siemens Gamesa Renewable Energy (SGREN.MC) announced that it expects a steady increase in margins in 2023. The wind turbine maker posted a net loss worth 918 Million Euros ($1.08 billion). Siemens Gamesa said that its financial performance was severely affected by the continuing slowdown in the Indian market and cost overruns associated with […]

Twitter board supports CEO Dorsey on his new plan for the company

On Monday, Twitter’s (TWTR) board of directors announced that they support Chief Executive Officer Jack Dorsey on his new plans about the firm’s “current structure.” “The committee expressed its confidence in management and recommended that the current structure remains in place,” the board stated in a regulatory filing. According to the company’s statement, Twitter’s “significantly […]

LVMH and Tiffany to finally close the acquisition deal worth $16 billion

On Thursday, France’s LVMH Moet Hennessy Louis Vuitton SE (MC.PA) announced that it would pay slightly less to acquire Tiffany & Co (TIF). The French multinational corporation said that both companies agreed to end a bitter dispute triggered by the coronavirus pandemic and finally close the luxury sector’s biggest-ever deal. “We are as convinced as […]

AirAsia X seeks help from creditors to pay its debt worth $15.3 billion

On Thursday, AirAsia X Berhad (AAX) announced its plans to drop a local airport operator from its restructuring plan debt worth $15.3 billion. According to Malaysia’s budget airline, the move was made to expedite discussions with creditors as its cash funds are running out fast. “Everyone in the aviation industry is affected now. It’s unreasonable […]

Ericsson partners with BT Group to provide 5G radio equipment in the UK

On Wednesday, Ericsson (ERICb.ST) reported that the telecommunications company had been selected by BT Group (BT.L) to supply 5G radio equipment in London, Edinburgh, Belfast, Cardiff, and other major cities in the United Kingdom. In July, the British government announced that it would ban Huawei Technologies (002502) in the UK until the end of 2027. […]

AES and PetroVietnam Gas to develop a $2.8 billion LNG import terminal

On Wednesday, AES Corporation (AES.N) said that it would sign an agreement with PetroVietnam Gas (GAS.HM) to develop a liquefied natural gas (LNG) import terminal worth $2.8 billion and another power plant located in Vietnam. AES stated that Vietnam started building multiple LNG-to-power plants which will be operational in 2023. “Vietnam has given the green […]

Italy’s antitrust authority scrutinizes Google over alleged advertising market abuse

On Wednesday, Italy’s antitrust authority reported that it would investigate Alphabet’s Google (GOOGL.O) for alleged abuse of its Italian online display advertising market. Google Italy’s revenue from its online advertising market was worth 3.3 billion Euros in 2019. It also includes display advertising such as banner ads and other advertising formats. “The absence of competition […]

Euro falls on renewed lockdowns, dollar slides on election uncertainty

The euro dropped against the dollar on Wednesday after reports that France’s government was considering a national lockdown to control a resurgence of coronavirus infections. The dollar nursed losses against the yen on bearish sentiment amid uncertainties about the result of the upcoming U.S. presidential election. It dropped to a near one-month low of 104.23 […]

Dollar falls as economic data offsets virus fears

The dollar nursed losses against most currencies on Tuesday as strong regional economic data offset fears about a second coronavirus wave in the United States and Europe. Profits at Chinese industrial firms rose for a fifth consecutive month in September, while the South Korean economy drastically improved. This development boosted the yuan and lifted the […]

Charles Schwab layoffs 1,000 job positions to reorganize its network

On Monday, Charles Schwab Corp. (SCHW.N) announced that it would start laying off 1,000 job positions in its combined workforce with TD Ameritrade Holding (AMTD). The American multinational financial services company said that the move was made to streamline and reshape its branch networks in the United States. “These reductions are part of our efforts […]

Twilio Inc posts its surprise third-quarter revenue

On Monday, Twilio Inc (TWLO.N) posted its surprise third-quarter revenue and forecast sales estimates for the fourth quarter. The American cloud communications service company said that its cloud services became in demand as firms switched to remote working and learning amid the coronavirus outbreak. According to the IBES data from Refinitiv, Twilio’s net profit went […]

Ant Group closes its Hong Kong-based institutional order books due to an overwhelming IPO demand

On Tuesday, Ant Group announced that it will close its Hong Kong-based institutional order books for its initial public offering (IPO). The world’s highest-valued financial technology company said that the move was made ahead of schedule due to strong public demand. Ant Group also stated that its Hong Kong listing’s institutional book worth $17.2 billion […]

European stocks trade higher despite new lockdown measures

European stock markets traded higher on Friday despite revitalized lockdown measures in Europe. Germany’s DAX gained 0.9% at 3:50 AM ET (0750 GMT), while France’s CAC 40 rose 1.1%. The U.K.’s FTSE index traded 1.1% higher. Germany’s private sector activity posted a four-month growth to October, according to Markit’s flash composite Purchasing Managers’ Index. Meanwhile, […]

Half of Europe’s small companies fear for survival: survey

Half of small and medium-sized companies that provide nearly ⅔ of European jobs fear for their survival in the coming year, according to a survey by management consultancy McKinsey. The survey was done in August, before the second wave of coronavirus prompted a new set of restrictions on economic and social activity. The results came […]

Commodities markets bullish in 2021: Goldman Sachs

A weak dollar, increasing risks of inflation, and demand driven by stimulus from major central banks will lead to a bull market for commodities in 2021, according to Goldman Sachs. The bank forecast the S&P/Goldman Sachs Commodity Index to produce a 28% return over a 12-month period. Precious metals are expected to produce a return […]

Chipotle’s revenue drops due to coronavirus-related expenses

On Wednesday, Chipotle Mexican Grill Inc. (CMG.N) reported that its quarterly revenue went down by almost 18.6%. The American fast-food restaurant said that the company shouldered higher beef prices and overpriced delivery costs amid the coronavirus pandemic. According to IBES data from Refinitiv, the company’s sales climbed by 8.3% beating Wall Street’s expectations of a […]

China’s fiscal revenues soar 4.7% as economic recovery picks up pace

China’s fiscal revenues grew 4.7% in the third quarter year-on-year, reversing its 7.4% loss from the previous quarter as the country continued to recover at a quicker pace from the COVID-19 pandemic, the finance ministry said on Wednesday. China’s economy from July to September grew 4.9% year-on-year, still under expectations. However, its pace was faster […]

European stocks open lower as U.S. stimulus hopes fade

European stock markets opened slightly lower on Tuesday, weighed down by fading hopes that U.S. lawmakers would reach meet the Tuesday deadline for a U.S. stimulus package, and the tightening of lockdown measures in Europe. DAX futures in Germany slipped by 0.1% at 2:05 AM ET (0605 GMT). Meanwhile, CAC futures in France lost 0.7%, while […]

Asia stocks fall ahead of U.S. presidential debate

Asian stocks fell on Tuesday as investors cut down their risk exposure ahead of the U.S. election and as a deadline for the U.S. stimulus package neared.  Caution among investors grew as global coronavirus cases rose, with Europe posting record daily new infections. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.11% after U.S. […]

Asian shares decline on virus-beaten sentiment

Asian share markets shed initial earnings, recording a weak performance on Friday. This could be attributed to investors’ subdued sentiment as the United States and Europe monitored an upsurge of fresh coronavirus infections. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.22% decline. U.S. stock futures dropped 0.12%, while China shares advanced during […]

Gold continues losses as Dollar strengthens amid fading U.S. stimulus hopes

Gold prices fell earlier on Thursday in Asia as the Dollar continued to gain strength amid fading hopes of a U.S. COVID-19 stimulus package before the November 3 presidential elections. Gold futures slipped by 0.30%, trading at $1,901.55 per ounce at 11:58 PM ET (3:58 AM GMT). The Dollar saw gains in morning trade, buoyed […]

Oil prices hold gains on U.S. stocks drawdown

Oil prices climbed in early Tuesday trade, adding to 2% gains overnight after data showed U.S. crude inventories dropped last week.  U.S. West Texas Intermediate crude futures rose 0.1%, or 4 cents, at $41.08 per barrel. Brent crude futures gained 0.1%, or 5 cents, at $43.37 per barrel. Oil markets rose for a third day […]

Oil slides as rising coronavirus cases stirs demand worries

Oil prices fell on Wednesday on fears that fuel demand will continue to decline as rising COVID-19 cases in the United States and Europe could stall economic growth. OPEC expects oil demand to increase by 6.54 million bpd to 96.84 million bpd in 2021, 80,000 bpd less than initially forecasted. Brent crude futures for December […]

Singapore GDP sees quarterly decline, plunges more than forecasts

Singapore’s economy declined in the third quarter from a year ago. The drop came lower than what was initially predicted, preliminary data showed on Wednesday. On an annual basis, gross domestic product (GDP) recorded a 7% contraction from July to September. The reading released by the Ministry of Trade and Industry came sharper than the […]

Dollar near three-week low as investors pin hopes on U.S. stimulus

The dollar stood at three-week lows on Tuesday as investors pin hopes on a big U.S. stimulus package after the presidential election, boosting risk currencies. The dollar index stood at 93.036, right above Friday’s near-three-week low of 92.997. The euro bought $1.1841 after gaining 0.6% on Monday. A Biden win in the U.S. presidency is […]

Oil falls on second session as U.S. Gulf reopens production

Oil prices fell for a second session on Monday as U.S. producers resumed production in The Gulf after Hurricane Delta’s passage. Meanwhile, a strike in Norway that threatened to cut production has ended. Brent crude for December delivery slid 1.3%, or 55 cents, at $42.30 per barrel. U.S. West Texas Intermediate for November contract fell […]

Gold prices gain amid strengthened Dollar, stalled U.S. stimulus talks

Gold prices rose earlier on Monday in Asian trading after investors flocked to the safe-haven asset amid a strengthening Dollar strengthened and the stalling of talks over the latest U.S. stimulus measures. Gold futures gained 0.37%, trading at $1933.35 per ounce at 12:08 AM ET (4:08 AM GMT), its highest since September 21, which traded […]

Japan’s household spending, real wages slip further on pandemic drag

Japan’s household spending recorded eleven consecutive months of decline ended August. Meanwhile, real wages had dropped for six straight months as consumers are still anxious to return to their pre-pandemic purchasing practices. Household spending recorded a 6.9% contraction in August from a year ago, government data showed on Friday. The figure came parallel with a […]

Asian shares see two-and-a-half-year peak on stimulus-driven optimism

Asian shares recorded a 2-1/2-year peak on Friday. This followed after investors’ sentiment grew on U.S. stimulus talks, deviating their focus from weak employment data. Meanwhile, financial markets in mainland China advanced after a week-long holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.15% gain. The index is currently heading toward its […]

Dollar on course for second week of losses, yuan gains on Biden win bets

The dollar fell on Friday and on course for a second week of losses as investors increased bets on Joe Biden winning the U.S. presidency and offering stimulus aid after the elections. Wall Street Bankers forecast a stimulus package whichever candidate wins, but they are expecting a much bigger one if Biden takes the presidency.  […]

London Stock Exchange agrees to sell Borsa Italiana to Euronext for $5 billion

On Friday, London Stock Exchange (LSE.L) reported that it had accepted a 4.33 billion Euros ($5.09 billion) cash offer by Euronext (ENX.PA ) to acquire Italy’s only stock exchange Borsa Italiana. In September, Euronext and LSE started to discuss the acquisition deal after the largest stock exchange in Europe saw a trade competition between Deutsche […]

Dollar, yen falls as U.S. stimulus hopes lift sentiment

The dollar and the safe-haven yen fell on Thursday after hopes for a U.S. stimulus improved sentiment. Meanwhile, the possibility of negative rates weighed on the kiwi. The Japanese yen plunged to a three-week low of 106.11. The dollar fell against other currencies except the kiwi. The euro rose to $1.1770, while the risk-sensitive Aussie […]

Oil prices gain as U.S. Gulf production closes ahead of Hurricane Delta

Oil prices rose on Thursday as oil-refinery workers evacuated rigs in the U.S. Gulf ahead of Hurricane Delta. However, fuel demand worries persisted amid fading hopes for a U.S. stimulus and a build in crude stocks. Brent crude futures gained 0.2%, or 9 cents, at $42.08 per barrel after sliding 1.6% on Wednesday. West Texas […]

Asian share markets were seen recording a one-month high on Thursday.

Asian share markets had seen a one-month high on Thursday. This followed after investors’ sentiment grew on encouraging reports about stimulus in the United States, with markets now pricing in a Democratic victory for the upcoming presidential election in November. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3%. The index had tallied its […]

Oil slips as Trump cancels aid talks, U.S. crude stocks surge

Oil prices slid on Wednesday after U.S. President Donald Trump quenched hopes for another stimulus package to support the economy and on a bigger-than-expected rise in U.S. crude stocks. U.S. West Texas Intermediate crude oil futures dropped 2%, or 81 cents, at $39.86 per barrel. Brent crude futures lost 1.6%, or 70 cents, at $41.95 […]

Dollar slips as investors await Trump health updates, stimulus aid

The dollar index slid on Monday but was little changed from Friday’s close as investors awaited news on Donald Trump’s health and progress on coronavirus stimulus aid talks in Washington. On Friday, U.S. President Donald Trump said he tested positive for COVID-19, prompting a safe-haven bid and a stock market sell-off. The dollar index was […]

European stocks gain as U.S. President Trump show signs of recovery

European stocks gained on Monday, following upbeat global mood after positive updates on U.S. President Donald Trump’s health. The pan-European STOXX 600 index traded 0.6% higher, continuing last week’s near-2% gain. Sectors including travel and leisure, banks, and automakers also saw a climb. Oil and gas also saw a climb with major oil producers such […]

Global stocks rise as Trump’s positive health update eases markets

Stock markets eased earlier on Monday over news that President Donald Trump could be discharged from hospital later in the day. Trump was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday. The news boosted U.S. S&P […]

Gold ends rout after Trump tests positive for COVID-19

Gold ended its retreat after President Donald Trump announced early Friday that he and First Lady Melania Trump had tested positive for COVID-19, roiling global assets and lifting the Dollar. Trump wrote on Twitter that he and the first lady would “begin our quarantine process,” just after one of his closest aides, Hope Hicks, had […]

Tokyo Stock Exchange hit by worst-ever outage, session suspended

A hardware failure suspended the Tokyo Stock Exchange (TSE) earlier on Thursday in the worst outage ever suffered by the world’s third-largest stock market. The TSE said the outage was the result of a hardware problem at its “Arrowhead” trading system, and a subsequent failure to switch over to a backup device. The hit raised […]

Dow halts rout but still negative amid poor energy and financial data

The Dow halted from its rout on Tuesday but still remained in negative territory as poor data in energy and financials weighed on investor sentiment amid the resurgence of COVID-19 cases.  The Dow Jones Industrial Average fell 0.18% (48 points). Meanwhile, the S&P 500 was down 0.13%, while the Nasdaq Composite added 0.02%. Energy shares took a […]

Gold gains above $1,900 as Dollar slips ahead of U.S. presidential debate

Gold prices rose on Tuesday, continuing gains from the previous session and returning to the key $1,900 level after the Dollar and equity markets slumped ahead of the U.S. presidential debate. U.S. gold futures for delivery on December rose by 1.1% ($20), last trading at $1,903.20 per ounce on New York’s Comex. The benchmark gold […]

Dollar climbs after Trump, Biden clash in presidential debate

The dollar climbed in the European session on Wednesday, recovering losses after a two-day slide as traders evaluated a debate between U.S. President Donald Trump and Democratic challenger Joe Biden. The dollar index rose above the 94-mark following two days of losses, which came after the greenback hit a two-month high last week. European stocks […]

Disney to cut its 25,000 parks unit worker due to the coronavirus outbreak

On Tuesday, Walt Disney Co. (DIS) announced that it would furlough 28,000 employees located at its United States theme parks. The mass media and entertainment company said that its establishments in California would be closed due to the coronavirus pandemic. “We have made the very difficult decision to begin the process of reducing our workforce […]

Asian shares drop as investors focus on U.S. presidential debate

Asian share markets declined, while the dollar performed turbulently on Wednesday. This came after investors’ sentiment was dampened ahead of the first U.S. presidential debate, with markets closely weighing both parties. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% decline. The index is set to finish 3.3% lower this month, the sharpest […]

Walmart to discuss an investment in Tata’s “super app” worth $25 billion

On Tuesday, Walmart Inc (WMT.N) said that it is in talks with Tata Group for a potential investment worth $25 billion. The Indian multinational conglomerate holding company said that Walmart’s investment would be used to fund Tata’s new “super app.” Tata Group said that the app was scheduled to be launched in India in December […]

Gold breaks months-long rout as Dollar retreats

Gold prices were seen climbing above 1%, finally breaking from record lows on Monday, as the dollar slipped from its two-month high perch. Gold had gone through a record low in six months last week, slumping by almost 5% after the Dollar took the spotlight as investors flocked to the Greenback amid the latest round […]

Big Hit Entertainment prices its IPO at the top of the range

Big Hit Entertainment, the management label of hugely popular South Korean K-Pop band BTS, announced on Monday that it would price its upcoming initial public offering (IPO) at 135,000 Won ($114.99) per share. The company stated that its IPO price would be South Korea’s largest listing in three years. “Big Hit is classified as a […]

Oil prices steady over COVID-19 uncertainties

Oil prices remained unchanged earlier on Friday but is expected for a weekly fall over concerns that a global resurgence of COVID-19 infections could hit fuel demand, with Libya also returning to add to the supply. Brent crude fell by 2 cents, exchanging hands at $41.92 per barrel at 0113 GMT (0913 PM ET), while […]

Gold continues rout as Dollar rallies

Gold continued its descent earlier on Wednesday as the Dollar carried on with its rally. Spot gold, which reflects real-time trades in bullion lost 2.1% ($39.64), trading at $1,860.62 per ounce by 3:12 PM ET (1512 GMT). It dipped to a record low of $1,856, its worst in two months. U.S. gold futures for the […]

Oil slides on fuel demand concerns amid coronavirus crisis

Oil futures slid on Thursday on fears that U.S. economic recovery is stalling as the coronavirus crisis lingers and a resurgence in European infections prompted new travel restrictions. Market worries prompted a rally in the dollar as investors turned to safety, adding pressure to oil prices.  U.S. West Texas Intermediate crude futures slid 0.9%, or […]

JPMorgan needs to spend at least $1 billion to resolve trading allegations

On Wednesday, JPMorgan Chase & Co. (JPM) reported that it needs to spend at least $1 billion to resolve U.S. government investigations into the alleged market manipulation of metal stocks and Treasury markets. The New York-based investment banking company said that it was in discussions with U.S. authorities to resolve the investigations. According to JPMorgan, […]

Tesla’s market value drops to $50 billion despite Musk’s promise to reduce electric vehicle costs

On Tuesday, Tesla’s (TSLA) principal stockholders and investors cut $50 billion from its market value despite CEO Elon Musk’s promise to reduce electric vehicle costs. According to Tesla’s Senior Vice-President of Powertrain and Energy Engineering Drew Baglino, the automaker plans to produce its new cells via a highly automated and continuous-motion assembly process at its […]

Dollar holds near six-week peak as stock selloff subsides

The dollar held on to sharp gains on Tuesday after coronavirus fears and worries about delays in U.S. stimulus prompted a sell-off in almost all the financial markets. The dollar stood at 93.519 against a basket of currencies, just below a six-week peak hit on Monday. The safe-haven yen rose to 104.57 on the dollar […]

Oil rises on weakened U.S. storm, but recovery fears remain

Oil prices gained in early Tuesday trade, recovering from overnight losses as the latest tropical storm in the Gulf of Mexico weakened. Still, worries about fuel demand remained as global coronavirus cases surged. Brent crude futures climbed 0.3%, or 14 cents, at $41.58 per barrel. U.S. West Texas Intermediate crude futures for October delivery rose […]

European stocks continue losses as virus uncertainties remain

European stock markets fell substantially low earlier on Friday as uncertainties of the progress of a global economic recovery continued to weigh in. CAC futures in France traded 0.2% lower at 2:10 AM ET (0610) GMT), while FTSE futures in the U.K. lost 0.7%. However, Germany’s DAX futures inched up by 0.1%. Europe’s economic data […]

Dow hovers off lows as tech stocks continue descent

The Dow hovered off of lows on Thursday after the tech sector retook some lost ground. However, it still remained deep in negative territory as market sentiment dampened due to bleak economic data and signs of slowdown in global recovery from the COVID-19 pandemic. The Dow Jones Industrial Average lost 0.63% (177 points), with the […]

UPS plans to propose buyouts to its management employees

On Thursday, United Parcel Service Inc.’s (UPS.N) Chief Executive Officer Carol Tomé announced that the company plans to propose buyouts to management employees to curb production costs. The American multinational package delivery company said that it would present the buyouts to qualifying management in non-operation roles on Friday. According to a reliable source, employees would […]

European stocks open lower on Fed policy decision

European stocks traded lower earlier on Thursday after investor sentiment dampened due to the U.S. Federal Reserve’s recent decision to not add further stimulus packages. Germany’s DAX futures lost 0.7% at 2:05 AM ET (0605 GMT), while France’s CAC futures fell by 0.6%. FTSE futures in the U.K. lost 1.2%. In conclusion to its two-day […]

Dollar rises on Fed’s positive economic recovery outlook

The dollar rebounded across the board on Thursday, reporting its biggest daily gain in over a week as the Federal Reserve’s decision to keep interest rates on hold in the coming weeks prompted a wave of short positions for the greenback. Still, the Fed’s decision disappointed some investors who had bet on a more dovish […]

Oil slides as demand worries re-emerge, U.S. Gulf rigs reopen

Oil prices slid on Thursday following two straight days of gains. This came after worries about fuel demand were reinforced by reopening production in the U.S. Gulf following Hurricane Sally’s passage. Brent crude futures dropped 0.8%, or 36 cents, at $41.86 per barrel after rising 4.2% on Wednesday. U.S. West Texas Intermediate crude futures fell […]

European stocks open lower ahead of Fed policy meeting results

European stock markets opened slightly lower on Wednesday, as investors cautiously await the Federal Reserve policy decision. Germany’s DAX futures fell by 0.1% at 02:05 AM ET (06:05 AM GMT), while France’s CAC futures lost 0.3%. Meanwhile, FTSE futures in the UK lost 1.1%, reversing gains from Tuesday’s session. The U.S. Federal Reserve’s two-day policy […]

Alibaba Group to establish a new manufacturing digital factory in China

On Wednesday, Alibaba Group Holding Ltd. (BABA.N) announced its plan to establish a pilot factory in the eastern Chinese city of Hangzhou. The e-commerce company said that the move was a part of its “smart manufacturing” business initiative. Alibaba said in a statement that the factory would primarily work with apparel companies. Its internal division […]

Asian shares rise on strong data, investors remain cautious ahead of Fed

Majority of Asian shares recorded a well-ended session on Wednesday. This came after upbeat Chinese and U.S. economic data prompted a rally the previous day. However, the dollar, U.S. yields, and gold remained stagnant ahead of the Federal Reserve’s policy meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan tallied a 0.5% gain. Australian shares […]

Pound under pressure amid Brexit fears, yen investors await PM vote

The British pound clung to a 1 ½-month low on the dollar on Monday amid fears of a possible no-deal Brexit, while investors in the yen waited for Japan to appoint a new prime minister. The pound traded at 1.2806 after hitting a 1 ½-month low of 1.2767 on the dollar. Against the euro, it […]

Dollar on course for second weekly gains, Brexit fears weigh on pound

The dollar was on course for its first back-to-back weekly gains since May on Friday as investors turned to safer assets. Meanwhile, the pound was on track towards its worst week since March amid fears about the EU-UK Brexit negotiations. The dollar was broadly steady in Asian trade. Against a basket of currencies, the greenback […]

Gold holds steady after overnight gains amid weak Dollar

Gold remained mostly unchanged earlier on Thursday in Asia after it raked in substantial gains overnight amid a drop in the Dollar and stock market uncertainties. Gold futures gained 0.06%, trading at $1,956 per ounce at 12:05 Am ET (05:05 AM GMT). The yellow metal rose from a low of $1,927.20 to an overnight high […]

Asian shares advance on tech recovery, euro relies on ECB

Thursday marked Asian stock markets’ recovery from their longest decline since February. Asian shares tracked Wall Street’s upbeat performance, but currencies, commodities, and bond markets remained subdued, underscoring investors’ dampened sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan earned half a percent, recovering from its one-month low recorded on Wednesday. Japan’s benchmark index Nikkei […]

Tiffany & Co sues LVMH after backing out from its $16 billion acquisition deal

On Wednesday, Tiffany & Co (TIF.N) reported that it would sue the world’s largest luxury goods group LVMH Moët Hennessy Louis Vuitton (LVMH.PA) after pulling out from its $16 billion acquisition deal. According to LVMH’s Chairman and Chief Executive Officer Bernard Arnault, the board of directors received a highly unusual request from the Ministry of […]

European edge higher ahead of ECB policy meeting

European stock markets were up slightly earlier on Tuesday ahead of the European Central Bank’s (ECB) policy meeting expected on Thursday. Germany’s DAX futures were up by 0.2% at 02:05 AM ET (0605 GMT), while France’s CAC futures inched up by 0.3%. In the UK, FTSE contracts were seen rising by 0.4%. Investors are eyeing […]

Dollar downtrend to continue amid lower Fed rates, U.S. jobs report

The dollar steadied against its peers on Friday as investors await key U.S. jobs data to get clues about the strength of U.S. economic recovery from the pandemic. The dollar managed to stop its recent slip, but analysts warned against the dominating weak sentiment for the greenback amid doubts on U.S. economic growth and lower […]

U.S. unemployment rate falls below 10%, August job growth slower

The month of August yielded declining job growth figures in the United States as financial assistance from the government was all used up after six months of battling the coronavirus crisis. The economy’s recovery is now feared to be halted. The U.S. Labor Department’s released employment report on Friday nailed the expectations of low turnout […]

Oil prices near multi-week lows on demand worries

Oil prices rose on Thursday but stayed near multi-week lows hit overnight after U.S. gasoline demand fell and economic recovery from the COVID-19 crisis lagged. U.S. West Texas Intermediate crude futures rose 0.22%, or 9 cents, at $41.60 per barrel. Brent crude climbed 0.05%, or 2 cents, at $44.45 per barrel.  Both benchmarks fell over […]

Iraq seeks exemption from OPEC export cut deal next year

Iraq is looking to be exempted from an OPEC+ deal which plans to curb oil production for the first quarter of 2021. However, the country will adhere to the cuts for the next three months, according to Oil Minister Ihsan Abdul Jabbar on Wednesday. Abdul Jabbar said on August that Iraq had agreed to cut […]

Gold prices fall as Dollar gains support on optimistic U.S. data

Gold prices traded lower earlier on Wednesday in Asia after the Dollar was unexpectedly bolstered by optimistic U.S. data. Gold futures fell by 0.35%, trading at $1,972 by 12:25 PM ET (05:25 GMT), while the U.S. Dollar index gained 0.03% to 92.365. Gold prices slumped below the $1,980 benchmark after it traded slightly higher on […]

Walmart’s Flipkart to launch wholesale e-commerce service in India

On Wednesday, Flipkart announced that it would launch an online wholesale service for Kirana stores and other small businesses in India. The Walmart-owned company (WMT) said that it plans to compete with Amazon (AMZN) and other retail giants in the e-commerce market. Flipkart said that the “Flipkart Wholesale” smartphone app would be available in the […]

Oil prices rise on U.S. stock decline, recovery optimism

Crude oil futures extended gains on Wednesday amid a larger-than-expected drop in U.S. crude inventories and a stronger U.S. and Chinese factory activity. The news boosted optimism in fuel demand recovery and lifted risk appetite in the market. Brent crude futures climbed 45 cents to $46.03 per barrel. U.S. West Texas Intermediate futures were up […]

Coca-cola cuts jobs due to coronavirus outbreak

On Friday, Coca-Cola Co (KO.N) announced that it would cut its operating units and offer voluntary separation to its 4,000 employees in the United States as the world’s largest beverage maker suffers a decline in sales growth due to the coronavirus pandemic. The American multinational beverage corporation stated that it would have nine operating units […]

Dollar gains on yen as Fed’s inflation shift boosts U.S. yields

The dollar hit a two-week peak on the yen on Friday, lifted by U.S. bond yields, which rose on the Fed’s aggressive new strategy to increase employment and boost inflation. Investors are also awaiting Japanese Prime Minister Shinzo Abe’s briefing later in the day as worries about his health raised concerns about economic relations with […]

Oil steadies as U.S. refineries avoid worst of storm Laura

Oil prices dropped on Friday as a massive hurricane hit key U.S. oil production in Louisiana and Texas without causing widespread damage to the facilities. U.S. West Texas Intermediate crude futures fell 0.1%, or 3 cents, at $43.01 per barrel. WTI is on course for a 1.6% climb this week, on its fourth straight week […]

S&P 500 and Dow contracts fall ahead of Fed Chair speech

U.S. stocks were expected to fall on Thursday ahead of a key speech from Federal Reserve Chairman Jerome Powell later in the day. S&P 500 futures fell by 0.2%, trading 7 points lower, while Dow futures lost 0.3%, with contacts trading at 80 points at 7:10 AM ET (11:10 GMT). The Nasdaq Composite index gained […]

Tiktok CEO Mayer to quit after three months due to ongoing political turmoil

TikTok’s Chief Executive Officer Kevin Mayer announced that he would leave the company after three months amid ongoing disputes with the Trump administration. According to the Chinese-owned video app, U.S. General Manager Vanessa Pappas would replace Mayer on an interim basis. “In recent weeks, as the political environment has sharply changed, I have done significant […]

Gold prices slump, though losses cap on Fed hopes

Gold prices saw its fourth consecutive slump in five days before trimming losses later on Tuesday amid a strengthening Dollar as expectations rose for U.S. Fed Chair Jerome Powell’s speech on Thursday. Gold futures for the December delivery on Comex slipped by 0.8% ($16.10), trading at $1,923.10 per ounce. Comex was up on last week’s […]

Brent rises on China trade deal hopes, U.S. Gulf output cut

Brent crude oil prices gained on Wednesday after U.S. producers shut most of the offshore production in the Gulf of Mexico and U.S.-China trade talks reported progress. Still, gains were capped due to coronavirus worries after Europe and Asia reported COVID-19 reinfections.  Brent crude oil futures rose 0.3%, or 12 cents, at $45.98 per barrel. […]

Asian shares ease from two-year peak as economic woes intensify

Asian stock markets declined from a two-year peak on Wednesday. The drop could be attributed to investors’ dampened sentiment over a mixed bag of economic data. Meanwhile, oil reached a five-month high as a hurricane ravaged production in the Gulf of Mexico. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.1% drop. This […]

Palantir to file for a direct listing on public markets this year

On Tuesday, Palantir Technologies announced that it would file for a direct listing on public markets. The data analytics company said that it aims to trade on the New York Stock Exchange (NYSE) under the symbol PLTR. Palantir Technologies had been working with the Central Intelligence Agency (CIA) and other government agencies to prepare for […]

Weakened Dollar Raises Oil and Gold prices

Positive risk appetite alongside a weaker dollar compelled oil prices to edge higher. Meanwhile, both Brent and WTI are steady at the upper end of their ranges; no threat of a breakout can be seen. Brent crude is at a resistance around $45.50, the lows of the past weeks of around $43.50 have now been […]

Gold inches higher with stock markets rallying

Friday saw Gold Futures gaining 0.03% upon trading within a short-term consolidation that had followed the metal’s plunge below $2,000. The safe-haven asset had actually reversed lower on August 7th, a more optimistic turnout compared to the previous forecast with the release Nonfarm Payrolls alongside other factors. Last Tuesday, the upward correction reached a high […]

Global dividends plunge to its worst since 2009

The world’s largest firms will slash dividend payouts by 17%-23%, amounting to as much as $400 billion, according to a new report as the COVID-19 pandemic continues to put a dent on the world’s economies. Global dividend payouts have slumped by $108 billion to $382 billion for the second quarter of 2020, according to a […]

Irish consumer sentiment drops on tighter virus restrictions

August had seen Ireland’s consumer sentiment declining. This followed after the implementation of local virus-related lockdowns and tighter nationwide measures, prompting people to reassess how long the coronavirus-led disruption will persist. The KBC Bank consumer sentiment index was monitored at 58.9 this month, placing lower than the 62.6 reading seen in July. However, the figure […]

Global shares advance on possible virus cure

Asian shares recorded two consecutive sessions of gains on Monday. This could be attributed to investors’ upbeat sentiment after the U.S. Food & Drug Administration (FDA) authorized the use of blood plasma from recovered patients as an option to cure the coronavirus. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.65%. The index is […]

Euro gains on broad dollar weakness, yuan jumps

The euro gained on Friday as the dollar was weighed down by doubts over U.S. economic recovery. This came after U.S. jobs data were reported to be weaker than expected, while the yuan rose to a seven-month peak as investors focused on China’s growth. Euro investors are awaiting the euro zone’s purchasing managers index due […]

Oil falls as prolonged pandemic poses demand risks

Oil prices dropped on Thursday as major producers warned of fuel demand risks if the coronavirus pandemic prolonged, while U.S. crude stocks fell less than expected.  Brent crude fell 0.8%, or 36 cents, at $45.01 per barrel. U.S. oil slid 0.9%, or 38 cents, at $42.55 per barrel. U.S. crude inventories fell on its fourth […]

China to protect Huawei from the U.S. restrictions

On Thursday, China’s Commerce Ministry said that it would take “all necessary measures” to protect its companies’ legitimate interests in response to United States’ move to tighten its restrictions on Huawei Technologies Co. The Trump administration announced on Monday that it would expand restrictions to prevent the Chinese telecommunications equipment company from obtaining semiconductors without […]

Target reports biggest sales surge due to online demand

On Wednesday, Target Corp (TGT.N) reported its biggest second-quarter sales growth as it attracted millions of new customers online. The retail company announced that its same-store revenue went up by 80.3% to $1.7 billion. Most consumers purchased videogames, kitchenware, and clothes amid the coronavirus pandemic using Target’s same-day delivery services. According to Institutional Brokers Estimate […]

Japan exports decline, capex outlook dims on weak demand

July had seen a decline in Japanese exports, tallying a double-digit drop for five consecutive months already as the virus crisis ravaged auto shipments to the United States. This dampened hopes for a trade-driven economic recuperation as the country suffers from recession. Core machinery orders surprisingly dropped, hitting a seven-year low in June. Meanwhile, total […]

Gold recaptures $2,000 mark as U.S. yields drops

Gold prices soared above 2% on Monday, briefly taking back its record $2,000 mark in almost a week as a renewed drop in the U.S. Treasury Yield had investors flocking to the safe-haven yellow metal. December gold futures on Comex closed the day gaining a record 2.5% ($48.90) to $1,998.70 per ounce after it reached […]

Oil gains as China plans to increase U.S. crude imports

Oil prices gained on Monday after news that China is planning to ship large volumes of U.S. crude in August and September. The news outweighed concerns over a demand slowdown due to the pandemic and a surge in supply. Brent crude rose 0.7%, or 32 cents, at $45.12 per barrel. U.S West Texas Intermediate crude […]

Asian shares advance, Chinese blue chips lead rally

Asian shares climbed on Monday, placing near their recent highs as Chinese markets advanced. Meanwhile, investors waited if a sell-off in longer-dated U.S. Treasuries would expand and relieve the struggling dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.5% to 565.74. The index closed its session near its 574.52 record seen in January. […]

Dollar gains ground on coronavirus, bleak China data

The dollar steadied on Friday as a rise in U.S. bond yields and a weaker risk sentiment due to gloomy Chinese economic data halted a selldown of the greenback. Chinese retail sales fell against the market’s expectations, while industrial output failed to meet its forecast, showing a  bumpy recovery in the world’s second-biggest economy. Against […]

Oil gains amid confidence on fuel demand recovery

Oil prices rose on Friday, nearing their second week of gains amid growing confidence in fuel demand recovery. Brent crude gained 0.3%, or 14 cents, at $45.10 per barrel. U.S. West Texas Intermediate rose 0.3%, or 12 cents, at $42.36 per barrel. Prices were lifted this week by U.S. government data, which showed crude oil, […]

Chinese retail sales drop in July, factory output seen stable

July had seen China’s retail sales declining from a year ago. Meanwhile, the country’s industrial output placed below expectations amid signs of fragile recovery in the world’s second-largest economy. China’s industrial output recorded a 4.8% jump in July from a year earlier, data from the National Bureau of Statistics showed on Friday. Though it made […]

Asian shares advance, dollar declines on upbeat U.S. data

Asian share markets recorded a well-ended session on Thursday, following Wall Street’s rally. This came after investors’ sentiment was bolstered by encouraging coronavirus figures and a surprising increase in U.S. inflation, prompting them to sell dollars and resort to tech stocks and gold. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.2%. Moreover, gains […]

Oil eases after surge on U.S. stocks draw

Crude oil prices slid on Thursday but held most of their gains from the last session after U.S. government data reported a decline in inventories. This supported the market’s view that fuel demand recovery is pushing through despite the pandemic. Brent crude fell 8 cents to $45.35 per barrel after gaining 2% on Wednesday. U.S. […]

Asian shares decline on U.S. stimulus concern

Asian share markets recorded a weak session on Wednesday. This was mainly from growing uncertainty over whether or not lawmakers from the United States would approve an additional fiscal stimulus to alleviate the virus-beaten economy. Encouraging news about vaccine development prompted some investors to slash safe-haven assets such as gold and government bonds. In addition […]

U.S.CEOs form a group to hire 100,000 New York workers

On Monday, leaders of major companies in the United States, including banks and technology giants, decided to form a group to increase job hiring from minority communities in New York. The New York Jobs CEO Council consisted of chief executives from 27 different companies. The group would hire 100,000 workers from low-income Black, Latino, and […]

Asian shares rally as investors disregard Sino-U.S. tension

Asian stock markets were seen upbeat on Tuesday. This followed after investors were greatly relieved that growing tensions between China and the United States do not directly impact trade. More so, optimism for U.S. stimulus drove oil and commodity prices up. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1%. Japan’s benchmark index Nikkei […]

U.S. payrolls report puts Dollar on track for rebound

The U.S. Dollar was on track to take back lost ground on Monday after it saw a record streak of losses since a decade as the market fell short of the currency. A better-than-expected payrolls report on Friday gave the Dollar a much-needed boost, pushing U.S. Treasury yields higher into this week’s massive $112 billion […]

British Airways to cut 12,000 jobs as pandemic hits the travel industry

On Friday, British Airways announced that it would slash its workforce of roughly 12,000 jobs to survive a collapse in travel demand as a result of the coronavirus pandemic. According to the airline company, more than 6,000 workers decided to take voluntary redundancy. The International Airlines Group (ICAG.L), which owns the British Airways, said that […]

Intercontinental Exchange to buy Ellie Mae in a purchase deal worth $11 billion

On Thursday, the Intercontinental Exchange Inc. (ICE.N) (ICE) announced that it would acquire mortgage-software company Ellie Mae (ELLI) from private equity firm Thoma Bravo LLC. in a purchase deal worth $11 billion including debt. ICE is also the company that owns the New York Stock Exchange (NYSE). The financial market company said that it expects […]

Falling by 40%, OCBC’s profit rounds up outlook for Singapore banks

Early Friday saw Oversea-Chinese Banking Corp OCBC, the second-largest lender hailing from Singapore reporting a 40% drop in its second quarter net profit. The report came as a surprise as it had been larger than the lending entity’s initial forecast. The bank disclosed that the drop is owed from the loan-loss provisions in a market […]

Dollar remains weak amid slow U.S. economic recovery

The dollar stayed weak on Wednesday as the U.S. coronavirus stimulus package stalled in Congress and U.S. bond yields dropped, while investors awaited possible monetary easing to support the economy. The Democrats in Congress and White House negotiators are still trying to reach a deal on the coronavirus package, but Treasury Secretary Mnuchin said that […]

China’s services sector expansion seen at slower pace in July

July had seen China’s services sector growing at a relatively slower speed. The sector expanded slower than its decade-high record in June due to struggling new export businesses and surging unemployment, an industry poll showed on Wednesday The Caixin/ Markit services Purchasing Managers’ Index (PMI) was monitored at 54.1 last month. This placed lower than […]

‘Rapid’ rise of yen a cause for worry, says Japan finance minister

Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s rise came after Japan’s economy is bottoming out from its steepest decline, with the government considering restarting the economy while preventing a second […]

ByteDance to list its China businesses in Hong Kong or Shanghai

On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company’s standalone listing in Hong Kong or Shanghai might value its China businesses to more than $100 billion. According to a reliable source, ByteDance would research more options […]

Oil falls as virus fears weigh on demand recovery

Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September delivery fell 7 cents to $43.68 per barrel. U.S. West Texas Intermediate crude […]

Spain’s unemployment rate reaches 15.33% for second quarter

Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the first quarter’s 14.41%, the highest since 2018. According to a Reuters’ poll, economists forecast Spain’s unemployment rate may reach as high […]

China’s industrial profit grows stronger, indicates firming economic rebound

China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic is gaining momentum. The country’s industrial profits recorded an 11.5% year-on-year increase in June, the statistics bureau said on […]

Wall Street declines on tech selloff

Wall Street recorded a sharp decline on Thursday.  This followed after investors fled market-leading technology shares due to mixed earnings reports and pieces of evidence of a worsening virus crisis, increasing the possibility of a sharp economic downturn.  All three major U.S. stock indexes lost footing. The S&P 500 declined 1.23%, while the Dow Jones […]

Elon Musk’s SpaceX in talks to raise new funds at $44 billion valuation

Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors about raising $1 billion at $270 per share. SpaceX said that it aims to make […]

China’s June diesel exports sees record slump since September 2018

China’s diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and 2.07 million tons in May and June last year respectively, data from the General Administration […]

SoKor suffers from recession on exports’ historic decline

The second quarter had seen South Korea slipping into recession. This came to be the country’s sharpest economic downturn in more than two decades as the novel coronavirus crisis weighed on exports and social distancing measures halted factory activities. Asia’s fourth-biggest economy declined a seasonally adjusted 3.3% last quarter from three months earlier, the Bank […]

Snap shares fall after a strong earnings report

On Tuesday, Snap Inc.’s (SNAP.N) stock price declined by more than 11% in after-hours trading as investors digested the company’s user and revenue growth after its second-quarter earnings report. The social media company reported 238 Million daily active users that represent 17% growth and a slight miss from Wall Street’s consensus of 238.5 Million. “The […]

Japan’s industrial output for June may recover from pandemic slump, Reuters poll

Japan’s industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While the significantly small uptick in factory data may not necessarily indicate a full economic recovery ahead, […]

Aussie retail sales advance in June, extend upbeat record

Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns. The country’s retail sales were estimated to have reached a total of A$29.7 billion ($21.19 billion) in June, recording a total of 8.2% […]

Gold rises on hopes of U.S., E.U. stimulus measures

Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus plans reach their expiry date in July. In the E.U., leaders have reached upon […]

Oil steadies amid vaccine news and rising cases

Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions rushed to counter the worst health crisis in a century. Brent futures gained 0.4%, or 15 cents, at […]

Gold prices slip amid fresh COVID-19 vaccine hopes, continued stimulus in Europe

Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest rates and stimulus unchanged in the near future. Gold futures slipped by 0.12% to $1,798.15 per ounce […]

Dollar firms as coronavirus cases surge, yuan drops

The dollar firmed against its peers as concerns that a resurgence of the coronavirus will restrict economic activity lifted the safe-haven demand for the U.S. currency. The yuan suffered declines in the past three weeks as the diplomatic tensions between the United States and China worsened. The euro was supported by hopes that EU officials […]

European stocks open lower ahead of ECB meeting

European stocks sold lower earlier on Thursday as concerns mounted over the pace of a global economic recovery ahead of latest meeting from the European Central Bank (ECB). Germany’s DAX futures fell by 0.5% at 2:05 AM ET (0605 GMT), while FTSE futures in the UK dipped by 0.4%. In France, CAC futures sold 0.4% […]

European new car sales see 24.1% slump year-on-year for June

European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were down by 24.1% when compared to a year ago, with new registrations reaching around 1,131,843 vehicles in countries located […]

Asian shares, risk assets advance on vaccine optimism

Asian share markets advanced on Wednesday as growing hopes about a coronavirus vaccine supported risk appetite. Meanwhile, the euro reached its four-month peak backed by the prospect of stimulus ahead of a crucial EU meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan soared 1.2% as it approached a recent five-month high record. Japan’s benchmark […]

Australian consumers wary on lockdown reimplementation: survey

July had seen Australia’s consumer sentiment declining. This was mainly from the reimplementation of coronavirus-related lockdowns in the country’s second-largest city, completely dragging consumers’ confidence after two months of gain.   The Westpac-Melbourne Institute index of consumer sentiment dropped a total of 6.1% in July. This followed after the index recorded a 6.3% increase in […]

Alibaba’s co-founder Jack Ma sells $8.2 billion shares, stake falls to 4.8%

Alibaba Group Holding Ltd’s (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment came in September 2019 when Jack Ma stepped down as Alibaba’s executive chairman to focus […]

Asian shares firm as investors anticipate upbeat U.S. earnings

Asian shares advanced on Monday backed by investors’ confidence over U.S. earnings. Investors heavily anticipate a prosperous earnings season, with most companies expected to surpass forecasts now that outlooks had been lowered by COVID-19 lockdowns. MSCI’s broadest index of Asia-Pacific shares outside Japan rallied with a 0.15% gain. This followed after a five-month high record […]

Oil prices slip towards weekly declines amid record U.S. COVID-19 cases

Oil prices fell on Friday, continuing steep losses from the previous session as concerns piled over a record surge in COVID-19 cases across the U.S., driving the black liquid for weekly declines. Brent crude futures dipped by 0.6% (25 cents) on Friday, trading at $42.10 per barrel at 0341 GMT after it plunged more than […]

Ford’s first quarterly sales rise in China for the first time in 3 years

American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company’s first quarterly sales rose in the world’s biggest auto market in nearly three years. A total of 158,589 vehicles were sold during […]

Levi Strauss foresees struggling second half as pandemic presses, to cut 700 jobs

Levi Strauss & Co (LEVI.N) expects that its business would lose footing in the second half of the year. The company deemed it possible even as its sales were seen recovering at its reopened stores, following virus-related lockdowns imposed by the government. The denim apparel maker also said that it would slash 700 jobs in […]

United Airlines to add more international routes in September

On Monday, United Airlines (UAL.O) announced that it would continue adding more flights for international routes in September. The airline company plans to reintroduce flights that were canceled due to coronavirus pandemic. United Airlines would have flight services between Chicago and Hong Kong, Los Angeles and Sydney, and new non-stop flights between Chicago and Tel […]

Philippine inflation at faster pace in June as government lifts lockdown

June had seen Philippine inflation advancing faster than what was initially thought. This followed after one of the world’s longest coronavirus lockdowns was lifted. Moreover, food, fuel prices, and the transport index were seen at higher levels as the country resumed its economic activity. The consumer price index soared 2.5% in June from a year […]

Japan’s Fujitsu to shut down half of its offices in Japan

On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would be working from home and would be under flexible hours. “We will overhaul our […]

Taiwan’s June exports may be down 3%, inflation -0.87%: Reuters poll

Taiwan’s exports for June has been forecasted to have dropped by 3% in contrast to a year earlier, according to a median forecast of 13 analysts polled by Reuters. The results are based on the uncertainties of the COVID-19 pandemic as it continues to disrupt global demand for the island nation’s electronics exports. Taiwan is […]

Boeing sets the end of the 747 jumbo jets

On Thursday, Boeing Co (BA.N) announced that the company is pulling the plug on its hulking 747 jumbo jets, ending a half-century run for the twin-aisle pioneer. According to the aerospace company, the last 747 jumbo jets would roll out from its Seattle area factory in the next two years. “At a build rate of […]

U.S. stock futures gain ahead of critical jobs report for June

U.S. stock index futures rose on Thursday, ahead of the much-awaited jobs report that could signal further evidence of an economic rebound in June. However, gains remained limited by the record surge in daily COVID-19 cases. Dow e-minis gained 0.92% (235 points) at 6:39 AM ET, while S&P 500 e-minis jumped by 0.62% (19.25 points). NASDAQ e-minis gained […]

Oil rises on sharp drop in crude inventories

Oil prices bounced on Thursday as a steep decline in oil inventories outweighed concerns that a surge in new coronavirus cases in the U.S. could stall demand recovery. Brent crude futures rose 0.6%, or 25 cents, at $42.28 per barrel. U.S. West Texas Intermediate crude futures gained 0.6%, or 25 cents, at $40.07 per barrel.  […]

Dollar drops to one-week lows

The dollar fell to a one-week low on Thursday as positive data on U.S. and European recovery lifted risk appetite, adding to the support provided by the latest breakthrough in the COVID-19 vaccine. The dollar index dropped 0.4%. However, it could trade up or down depending on the U.S. jobs data due later today. Data […]

Japan’s June factory activity contracts for 14th straight month

Japan’s factory activity for June contracted for its 14th straight month amid sharp reductions in supply and demand, according to data from a business survey released on Wednesday. Japan is one of many export-reliant nations that have been severely affected by the COVID-19 pandemic where lockdown measures disrupted supply chains and urged consumers to remain […]

Asian factories recover as pandemic drag eases

Asia’s manufacturing pain stopped pressing in June. This followed after China’s factory sector recovered, boosting optimism that the region has survived the worst of the novel coronavirus crisis. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) was monitored at 51.2 in June, placing higher than May’s record of 50.7. More so, Vietnam and Malaysia’s PMIs also […]

Dollar firms ahead of U.S. manufacturing data

The dollar firmed against the Japanese yen on Wednesday ahead of the release of U.S. manufacturing data expected to show a recovery from the pandemic. The euro traded in a narrow range as traders waited for data on Germany’s manufacturing sector, unemployment rate, and retail sales. The dollar stood at 107.83 on the yen, nearing […]

Safe-haven currencies remain unchanged, Sterling softens on spending concerns

Safe-haven currencies were on the defensive on Tuesday as hopes of an economic recovery strengthened stock prices. The Pound Sterling was under pressure after British Prime Minister Boris Johnson pledged a “Rooseveltian” boost to public spending. Fresh optimism was spurred by pending home sales data from the U.S., signaling a recovery of the U.S. economy […]

Airbus to cut production by 40% in two years due to the coronavirus pandemic

The European aviation Airbus (AIR.PA) announced on Monday that its airplane production and deliveries would be 40% lower for the next two years compared to its planned pre-crisis strategy. The CEO’s comments underscore the threat to jobs as it draws up rapid restructuring plans because of the global travel slump. “It’s a brutal fact, but […]

Japan car sales drop by 38% last month due to the coronavirus pandemic

On Monday, Japanese car manufacturers reported a 38% decline in their global sales last month. Most car factories and dealerships remained closed due to the coronavirus outbreak. Japan’s biggest car manufacturer Toyota Motor Corp. (7203.T) just sold 609,460 vehicles last month. Nissan Motor Co’s (7201.T) sales fell by 37.3% or 272,873 units while Honda Motor […]

Gold prices move closer to $1,800 as COVID-19 cases surpasses 10 million worldwide

Gold prices last traded closer toward $1,800 per ounce, making it the highest level reached since late 2011 as demand for the yellow metal surged amid worries over the growing COVID-19 cases worldwide. According to data from Johns Hopkins University, virus-related deaths have reached over 500,000 worldwide with the number of confirmed cases exceeding almost […]

Dollar holds safe-haven bid amid virus resurgence

The dollar firmed on Friday as investors cautioned against a surge in new coronavirus cases amid re-opening economies, strengthening the demand for safe-haven currencies.  The dollar index traded at 97.360. The dollar rose 0.5% overnight to 107.09 on the yen. The euro slid to $1.1223, while the pound fell to $1.2422. Also supporting the dollar […]

Fed balance sheet down for second straight week as currency swaps cut expand

The Federal Reserve’s balance sheet shrank for the second time in two weeks as central banks reduced their use of currency swaps while US banks continued to cut their use of Fed repurchase agreements. From $7.14 trillion a week earlier, Fed’s balance sheet deflated to $7.13 trillion on June 24 as reflected by the data […]

Dollar gains on risk-off mood due to virus fears, trade tensions

The dollar firmed on Thursday as a surge in coronavirus cases in the United States and new trade tensions prompted investors to a risk-off sentiment. The dollar index rose 0.1% to 97.27. The euro fell to 1.1246 on the dollar, while the British pound slid to $1.2411. New daily infections in the United States hit […]

Dollar gains as risk appetite subsides

The dollar bounced on Wednesday after two consecutive days of losses as markets pin hopes for a fast economic recovery. The dollar index rose 0.2% as the appetite for risk currencies wore off in early European trade. The pound fell 0.3% and the euro 0.2%.  The kiwi lost almost 1% after the Reserve Bank of […]

Dell Technologies to consider a $50 billion spinoff with VMware

Dell Technologies Inc. (DELL.N) said on Tuesday that it is examining options including a spinoff for its roughly $50 billion stakes in VMware Inc. (VMW.N) as the PC maker seeks to boost the value of its shares. Dell shares rose by 18% to $57.80 after rising by 1.5% in regular trading. VMware shares, which were […]

Euro gains as U.S.-China trade deal back in focus

The euro and its peers gained on Tuesday following White House trade adviser Peter Navarro’s claim that his comments on the U.S.-China trade deal were taken out of context. The euro gained 0.3% to $1.1306, its one-week high after its overnight volatility rose to almost 10%.  The Australian dollar was up 0.3% to $0.6928, its […]

Gold prices rise amid rising COVID-19 cases and Hong Kong national security laws announcement

Gold prices rose earlier on Monday in Asia, reaching its highest since May as fears of a second wave of COVID-19 cases continued to dampen hopes of a quick economic recovery. The World Health Organization on Sunday reported a record 180,020 cases, adding up to the near 9 million COVID-19 cases globally as of June […]

Dollar steadies as fears mount over surge in COVID-19 cases

The U.S. Dollar reached a three-week high while commodity currencies halted on Monday after concerns mounted over the surge of new COVID-19 cases around the world. Market movements were still limited as investors hoped that fears of a second wave would compel new lockdown measures. However, with the World Health Organization reporting a record increase […]

Tesla enters a three-year pricing deal with Panasonic for battery cells

Tesla Inc. (TSLA) said on Tuesday that it had signed a three-year pricing agreement with Japan’s Panasonic Corp. (6752.T) for the manufacturing and supply of lithium-ion battery cells at the Gigafactory in Nevada.    Tesla said that the agreement is effective from April 1 until March 31, 2023, which sets the specific terms between the two […]

Asian shares ease on virus surge, geopolitics

Asian share markets were seen retreating on Wednesday. This was mainly from weak market confidence that a surge of coronavirus cases will prolong economic inactivity, even as U.S. retail sales recorded historic highs in May. Geopolitics pressed deeper as India reported that 20 of its soldiers had been killed in clashes with the Chinese military […]

U.S. retail sales likely to report record rise

U.S. retail sales are expected to post a record rise in May as 2.5 million Americans returned to work. However, the rebound is still small compared to the historic falls in March and April due to the lockdown measures. The monthly report for May is expected to show an 8.0% increase in retailers, exceeding the […]

NYSE will allow some market makers to return to the trading floor on Wednesday

The New York Stock Exchange (NYSE) announced that it would allow a limited number of market makers to return to the trading floor on Wednesday after nearly three months of closure due to the coronavirus outbreak. Designated market makers from 2,200 listed companies would be permitted to come back this week and they would have […]

Bank of Japan holds rates steady, expands lending packages to $1 trillion to aid struggling firms

After a series of rate cuts to cushion the economic impact of the pandemic crisis, the Bank of Japan held its rates steady on Tuesday to signal that the easing efforts made were enough to support growth. But the BOJ announced a welcome development for cash-strapped firms as the previously $700 billion worth of lending […]

Port of Los Angeles inactive in May; COVID-19, trade war threaten peak season

The novel coronavirus crisis and China-U.S. trade tensions awakened concerns that the Port of Los Angeles would grow inactive during the peak holiday shipping season. This came after the seaport was seen at its weakest in May in more than a decade, Executive Director Gene Seroka said on Wednesday. May had seen the busiest seaport […]

Oil drops as U.S. inventories climb, raising oversupply concerns

Oil prices dropped on Wednesday after U.S. crude and fuel stocks rose, raising concerns about oversupply and declining demand amid the pandemic. Brent crude futures lost 1.4%, or 59 cents, at $40.59 per barrel. U.S. West Texas Intermediate futures fell 1.9%, or 72 cents, at $38.22 per barrel. Both benchmarks rose to their highest levels […]

China’s factory gate deflation worsens on suffering demand

China factory gate deflation worsens on suffering demand

China’s producer prices recorded a historic drop in more than four years. This indicated that the country’s manufacturing sector is struggling as the novel coronavirus crisis curbed trade flows and dragged global demand. The producer price index (PPI) dropped 3.7% in May from a year earlier, the National Bureau of Statistics (NBS) said in a […]

Mexico’s economy may have shrunk by 17% in April; finance minister says

Mexico’s economy is likely to have shrunk by 17% in April, finance minister Arturo Herrera told local broadcaster W Radio on Thursday. However, he reassured that the economy could shrink “a little less” in May as lockdown measures ease. The second-largest economy in Latin America shrank by 1.2% from January to March, according to the […]

German exports and imports plummet in April

German imports and exports took a huge hit in April, revealing a record plunge since 1990 after the COVID-19 pandemic severely disrupted demand and supply. The data on Tuesday added to the bleak outlook for the biggest economy in Europe. Many had previously speculated that the pandemic would lead the German economy into its biggest […]

Asian shares on three-month highs after surprise U.S. jobs recovery

Asian stocks rose on Monday after an unexpected increase in U.S. employment lifted hopes of a faster global recovery from the COVID-19 pandemic. The Asian-Pacific’s MSCI outside of Japan gained 0.23%, continuing to see highs for eight consecutive days. The index soared by 34% after suffering from 4-year lows in March since the early days […]

Japan prepares for sharpest economic downturn, virus crisis tests policy response

Japan’s economy braced for its sharpest postwar inactivity even as first-quarter gross domestic product fared better than initially speculated. This is mainly from the disruptions of the coronavirus crisis, halting global growth and pressuring Tokyo to alleviate businesses and consumers from economic drag. Banks are doing their part in helping as lending soared at its […]

Oil drops over doubts on producers’ commitment to supply cuts

Oil prices fell on Thursday after U.S. distillate inventories rose, creating doubt on major oil producers’ commitment to further output cuts. Brent crude futures lost 1.46%, or 58 cents, at $39.21 per barrel. U.S. West Texas Intermediate dropped 1.98%, or 74 cents, at $36.55 per barrel. OPEC+ members Saudi Arabia and Russia planned to support […]

Russian oil and gas production cuts to 9.39 million bpd in May: Interfax

Russian oil and gas condensate production dropped to 9.39 barrels per day (bpd) in May, nearing its target in accordance to a deal with the Organization of the Petroleum Exporting Countries (OPEC+). The figures come from the country’s energy ministry and were cited on Tuesday’s report by the news agency Interfax. Under an agreement with […]

Dollar plunges amid hopes of global economic recovery

The dollar plunged on Tuesday as investors hoped for a faster global economic recovery despite the growing U.S.-China tensions and mass protests in several U.S. cities. The dollar index fell to 97.790, its weakest level since March. The euro steadied at $1.1154, nearing more than a 2-month high. The British pound stood at $1.2491, after […]

Irish factory activity recuperates from COVID-19 damages: PMI

Ireland’s manufacturing sector recovered slightly after its historic drop in April. Though indicators underscored recovery, it still declined in May as the economy started emerging from government-implemented lockdowns, a survey showed on Tuesday. The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) fared better than its previous record as it advanced to 39.2 from 36.0 […]

Marriott CEO: China hotels all reopened, sees steady U.S. recovery

On Monday, Chief Executive Officer Arne Sorenson stated that Marriott International (MAR.O) has resumed all its hotel operations in China and is seeing a sustained recovery in its biggest market, the United States. After Sorenson’s statement, Marriott International’s shares went up to 8.1% to $95.64 in the afternoon trading. Occupancy rates in China have risen […]

Aussie rises as investors focus on economic recovery

Risk currencies gained against the dollar on Monday as investors staked on signs of easing U.S.-China tensions and worldwide economic recoveries. The Australian dollar rose 1% to a three-month high of $0.6742. The dollar index neared an 11-week low after sliding 0.2% to 98.031. U.S President Donald Trump did not announce any plan to sanction […]

Indian economy at slower pace in March

India’s gross domestic product data due today is expected to reveal weak results, indicating that the economy is at its slowest pacing in at least two years in March. Dampened expectations were mainly from struggling consumer demand and private investment due to the COVID-19 pandemic. The economy is expected to advance by 2.1% in the […]

Oil falls on unexpected build-up in U.S. stocks, dampens recovery hopes

Oil prices fell for the second day on Thursday as U.S. industry data reported a rise in crude inventories. This dampened hopes of a faster recovery in demand as countries worldwide emerge from lockdowns. The successive declines came after the uncertainty in Russia’s commitment to further production cuts as the June 9 meeting of OPEC+ […]

Australia likely to dismiss negative rates, extra QE as economy resumes

Australia’s economic contraction may come milder than previously thought, completely disregarding the possibility of negative interest rates or quantitative easing measures, the Reserve Bank of Australia said on Thursday. Though the country has started lifting lockdowns, the overall economic outlook is still dim. The land down under had seen dire inflation rate and unemployment surge, […]

IEA expects global energy investment to fall by 20% or $400 B in 2020 due to coronavirus outbreak

The International Energy Agency (IEA) stated on Wednesday that the world’s investment in the energy sector is projected to plummet by a record-high 20% or $400 billion in 2020 due to the coronavirus pandemic. The Paris-based energy agency warned that the economic impact of public health crisis could have “serious” implications for energy security and […]

BOJ prepared for additional measures as state of emergency lifts

Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Tuesday that the central bank is ready to roll out additional measures to soften the economic impact of the COVID-19 pandemic. The announcement still maintained a bleak outlook even after the state of emergency was lifted in Tokyo. The BOJ had recently pledged its own version […]

Oil falls as U.S.-China conflict grows, Beijing shuns economic growth target

Oil prices dropped on Friday as U.S.-China tensions intensified and Beijing failed to set a targeted economic growth for 2020. These raised concerns on the possibility that the coronavirus crisis will dwarf fuel demand in China. Brent crude fell 4%, or $1.43, at $34.63 per barrel. U.S. West Texas Intermediate plunged 5.3%, or $1.81, at $32.11 […]

China drops GDP outlook, COVID-19 drags economy

China axed its annual growth outlook for the first time on Friday. It pledged to render larger volumes of government spending as the coronavirus crisis drags the world’s second-largest economy, bringing a dull mood to this year’s parliament meeting. China’s economy had recorded a total of 6.8% contraction rate in the first quarter. The decline […]

JPMorgan and Goldman agree for more QE programs to curb bond yields

Central banks may need to increase quantitative easing programs according to an analysis from JPMorgan Chase & Co. The investment firm’s report resonates with the conclusion by Goldman Sachs Group strategists of limiting bond yields.    The expected increase of this year’s $2.1 trillion supply could offset the $1.9 trillion demand to $200 billion, the […]

Gold climbs after dampened hopes from COVID-19 vaccine report

Wednesday morning saw gold climb after hopes arose in news of a possible vaccine for the coronavirus being expedited on Tuesday. However, vacccine experts were quick to rain on Moderna’s parade after the drug manufacturer announced of a potential cure for the virus with 45 trial participants getting an immune response. The experts’ report released […]

Australia takes sharp economic blow from COVID-19 pandemic

Australia’s economy currently faces an unprecedented downturn due to the novel coronavirus crisis. However, large volumes of fiscal and monetary supports could minimize the impact of the deadly respiratory disease, according to the minutes released by the Reserve Bank of Australia on Tuesday. “An economic contraction of such speed and magnitude would be unprecedented in […]

Dollar firms amid growing tensions with China, pound falls on negative interest rates

The dollar firmed on Monday as the market mood was weighed by arising global tensions with China and the prospect of negative interest rates. The dollar firmed at 107.25 against the range-bound yen as Japan fell into recession for the first time since 2015. The dollar steadied against Asian currencies, while the dollar index stood […]

Oil prices hit one-month high as demand shows recovery

Oil prices hit more than one-month highs on Friday after gaining over 3% amid signs of demand recovery. Brent crude rose 3.9%, or $1.21, at $32.34 per barrel, gaining 3% for the week. U.S. West Texas Intermediate climbed 3.3%, or 92 cents, at $28.48 per barrel. The benchmark is heading for its third week of […]

Stocks in troubling waters as economic recovery from pandemic remains bleak

On Thursday, stocks had been recorded to have fallen whilst bonds remained to be in demand. These had happened due to apprehensions of the Coronavirus infecting anew coupled with a gloomy evaluation from the U.S. Federal Reserve head that economic recovery from the pandemic are not yet in the cards. “The path ahead is both […]

Dollar nears three-week peak after Fed’s Powell shuns negative rates

The dollar rose to a near three-week peak on Thursday after Fed Chairman Jerome Powell dismissed the prospect of adopting negative interest rates. Powell’s comments diminished risk appetite as investors rushed to the safe-haven dollar. Meanwhile, U.S. stocks reported their biggest two-day fall in over three weeks. The dollar index climbed 0.15%, at 100.30. The […]

UK retail sales drop in April on quarantine restrictions: BRC

United Kingdom’s retail sales sunk by nearly a fifth in April as the government’s effort of combating the coronavirus brought disruptions to the sector. More so, Britain’s consumer spending declined by more than a third, a survey showed on Wednesday. The British Retail Consortium reported a 19.1% loss in last month’s overall spending. It drastically […]

Stocks fall on fears of second coronavirus wave

Global stocks and oil prices dropped on Wednesday as markets feared a possible second wave of coronavirus infections. MSCI’s index of global shares fell 0.3%, while the pan-European STOXX 600 index slid 1.6%. Deutsche Bank shares plunged 4.4%. German bank Commerzbank and ABN Amro Netherlands also slumped after reporting their first-quarter losses. MSCI’s broadest index […]

Hyatt Hotels to cut 1,300 employees as pandemic hits the travel industry

Hyatt Hotels Corp. (H.N) announced on Monday that it would terminate 1,300 employees worldwide beginning on June 1. The move comes after a sharp fall in global travel struck the hospitality industry as people stay home to prevent the spread of the coronavirus. Hyatt Hotels implemented numerous restructuring measures to save money by making cuts […]

Logitech sales advance on demand urge

Logitech International (LOGN.S) recorded a 13.6% increase in sales on Tuesday. The technology provider’s fourth-quarter profit advanced after people working from home purchased necessary products amid the coronavirus pandemic. Logitech, one of the leading providers of computer hardware and software, reported a total of $709.2 million sales. Its profit advanced higher than last year’s $624.3 […]

Neiman Marcus Group obtains bankruptcy court approval to access funds

The United States luxury department store chain Neiman Marcus Group (NMG.A) received interim approval of its first day motions on Friday from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The Court has approved Neiman Marcus Group’s access to debtor-in-possession (DIP) financing of $675 Million from creditors which will enable business […]

Risk currencies gain on the dollar, economic recovery underway

The dollar fell on Friday as investors bought risky currencies due to gloomy U.S. employment data yet to be released. The market mood eased after the United States and China said that their top negotiators agreed to cooperate amid the economic and health crisis. The dollar index slid 0.2%, at 99.673. The euro rose 0.1%, […]

Gold prices up amid rising US unemployment claims

Gold prices rose in Asia on Friday morning, carrying over its gains of around 2% from the previous session. Gold futures gained 0.07% at $1,726.95 at 12:01 PM ET (5:01 AM GMT), reclaiming lost ground from a drop of 0.2% earlier in the session. Investors flocked to the yellow metal after the U.S. on Thursday […]

Virgin Atlantic Airways plans to cut 3,150 jobs this year to gain new investment

In a memo to pilots seen by Reuters, Virgin Atlantic Airways Ltd. revealed plans on Friday to slash 3,150 jobs this year.The company is taking “self-help” measures to receive financial aid from either the British government or a private sector investor. Earlier this week, Virgin Atlantic Airways announced that it will lay off a third […]

High-end retailer Neiman Marcus files for bankruptcy protection amid virus outbreak

The United States luxury department store chain Neiman Marcus Group (NMG.A) applied for bankruptcy protection in a federal court in Houston on Thursday. In Chapter 11 of the filed document, the retailer company signed an agreement with major creditors for a restructuring deal. The deal is worth $675 Million of debtor-in-possession financing. The company will […]

China exports see 3.5% gain despite COVID-19 woes

China saw an unexpected rise in April exports despite the effects of the COVID-19 pandemic. However, the nation’s imports still saw a decline. China’s General Administration of Customs (GAC) reported a 3.5% rise in exports year-on-year compared to a -6.6% decline in March. Analysts from Investing.com had forecasted a -15.7% drop. Meanwhile, imports plunged by […]

China’s exports and imports to plummet amid battered global demand: Reuters poll

China’s exports and imports for April are expected to plummet after a tentative recovery in the previous month. TThe decline is forecasted at a record double-digit level as the COVID-19 pandemic continues to batter global demand and disrupt supply chains, according to a Reuters’ poll on Wednesday. The gloomy projection solidifies the worries that a […]

Yen rises, euro falls amid gloomy economic recovery

The Japanese yen climbed to a three-year peak against the euro and a seven-week high against the dollar on Wednesday amid a rocky global economic recovery. The euro stood at 1.0826 against the dollar and at 115.09 against the yen.  The yen climbed to 106.22 against the dollar. Other major currencies steadied amid the U.S.-China […]

Asian stocks, oil gain amid re-opening economies

Asian stocks gained on Tuesday, while oil prices rose amid recovering demand as governments worldwide eased lockdowns. Brent crude traded at $28.37 per barrel, while U.S. crude stood at $21.77 per barrel.  Australia’s ASX 200 was up 1.26%, while Hong Kong’s Hang Seng gained 0.66%. U.S. stock futures climbed 0.75%. S&P 500 was up 0.42%, […]

Dollar surges amid fears that U.S.-China trade war will re-ignite

The dollar surged on Monday against major currencies due to fears of a possible re-ignition of the U.S.-China trade war. President Donald Trump and Secretary of State Mike Pompeo have blamed China for the pandemic. Pompeo said that there was enough evidence that the novel coronavirus strain originated in a laboratory in Wuhan. The euro […]

Glencore’s Zambia subsidiary resumes mining activities for 90 days

The Mopani Copper Mines (MCM), a Glencore’s (GLNCY) Zambian subsidiary, announced on Sunday that it will continue its mining activities for 90 days. However, the company will still proceed with its initial plan to postpone operations. Glencore’s disclosure of its plan to put MCM under “care and maintenance” amid the virus outbreak alongside other issues […]

Oil prices rise 10% as U.S. fuel demand begins recovery

Oil prices rose on Thursday as demand is starting to recover and the U.S. crude glut is not growing as fast as anticipated.  West Texas Intermediate crude futures gained 14.3%, or $2.15, at $17.21 per barrel. Brent crude was up 10.3%, or $2.33, at $24.87 per barrel. Brent crude for July delivery grew 8.7%, or […]

Russia’s manufacturing activity shrinks to record low; survey shows

Russia’s manufacturing activity plunged to a record low in April as factories halted operations in a measure to counter the COVID-19 pandemic, a business survey revealed on Thursday.    The Markit Purchasing Managers’ Index (PMI) showed that factory activity fell from 47.5 in March to 31.3 in April. The 50.0 mark divides expansion from contraction. […]

Shares hike on vaccine optimism, currencies await ECB

Asian shares tallied a seven-week high record on Thursday, with earnings supported by positive results of a coronavirus vaccine trial. However, bonds and currencies traded cautiously ahead of a European central bank meeting set later on Thursday. Gilead’s (GILD.O) antiviral remdesivir is set to be the standard of care for the deadly respiratory disease after […]

Anthem sees more individuals choosing govt plans as virus hits job market

One of America’s largest health insurers, Anthem Inc. (ANTM) stated on Wednesday that the pandemic could cause a major shift in business mix. Due to high rates of unemployment across industries, individuals are compelled to depart from employer-sponsored coverage and avail of Medicaid or ObamaCare instead Employer-sponsored health insurance are more profitable for insurance firms. […]

Dollar falls, market mood positive ahead of Fed meeting

The dollar fell on Wednesday as re-opening economies lifted the market mood ahead of central bank meetings. The risk-sensitive Australian dollar gained 0.4%, at $0.6517, nearing its sixth consecutive week of gains. The New Zealand dollar climbed 0.6%, at $0.6093. The U.S. Federal Reserve is set to hold a meeting on Wednesday and investors are […]

Oil prices plunge, demand falls amid lack of storage

Oil prices plunged on Tuesday amid concerns of rapidly filling crude storages globally. On top of that, demand may only recover once restrictions on economic and social activity will be lifted. U.S. West Texas Intermediate crude futures slipped 12.8%, or $1.64, at $11.14 per barrel. Brent crude futures dropped 4.3%, or 85 cents, at $19.14 […]

Allianz forms a bankassurance deal with BBVA

The German insurance giant Allianz SE (ALVG.DE) has signed an agreement to create a bancassurance partnership with financial services company Banco Bilbao Vizcaya Argentaria (BBVA.MC) on Monday. The bancassurance joint venture will provide Allianz a venue to restore its long-term exclusive distribution agreement for the sale of property-casualty insurance products through BBVA’s banking network in […]

Dollar ends week-long gain streak; investors eye BOJ policy meeting

The Dollar ended its week-long gain streak on Monday in Asia. The U.S. Dollar Index lost 0.28% to 100.148 at 11:30 Am ET (4:30 AM GMT) Investors had flocked to the Greenback in the previous weeks as a pandemic-led economic turmoil drove to safe-haven inflows and a Dollar shortage. However, some analysts predict that the […]

Asian shares rise as BOJ eases further

Asian shares rose on Monday as the Bank of Japan revealed additional stimulus measures to support the economy from the impact of the pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.2%, recovering some of the 2.6% fall last week. Japan’s Nikkei added 2.1% and Chinese blue chips 1%. S&P 500 e-mini futures […]

U.S. natural gas prices rise to record levels amid COVID-19 woes

U.S. Natural gas has been set as the most expensive energy commodity for the first time in more than a decade as the COVID-19 pandemic continues to disrupt demand in other regions. U.S. Gas futures gained up to 10% to $1.815 per million BTU in April. The surge comes as investors expect the record plunge […]

Burberry continues to give worker’s pay amid virus outbreak

Burberry (BRBY.L), a British luxury fashion brand, said on Friday that it will keep on paying its employees who can’t work because of store closures amid the virus outbreak. The company also added that it won’t depend on government support. Burberry was already warned a month ago that its final quarter sales would be 30% […]

Oil prices collapse on demand slump, Brent at lowest since 1999

Oil prices collapsed on its second day, with Brent dropping to a record low since 1999 as the market suffered from oversupply and persisting weaker demand. Brent crude plunged 14%, or $2.70, at $16.63 per barrel, while West Texas Intermediate lost 6%, or 68 cents, at $10.89 per barrel. The U.S. June contract fell for […]

United Airlines raises $1 billion worth of new shares amid virus outbreak

After finalizing a deal with the U.S. government for a stimulus package, United Airlines Holdings Inc (UAL.O) will raise $1 billion by selling new shares to increase capital in order to survive a collapse in travel demand amid the virus outbreak. This Chicago-based carrier was the first major airline to sell 39.25 Million shares to […]

Dollar soars amid oil rout

The dollar and yen recorded an upbeat activity on Wednesday.  Hefty gains were monitored as oil prices failed to relieve markets from anxiety and as the recent decline and slump in crude demand posed a weak economic outlook. The greenback traded stronger than other commodity currencies affected by oil inactivity, ending its performance near a […]

South Korea’s GDP faces sharp reversal

South Korea’s economy was monitored to have diminished at its most rapid pace since 2008. The contraction could be attributed to the inactivity of the virus-beaten business sector and slump in global demand, a Reuters survey showed on Tuesday. Gross domestic product (GDP) for the first quarter is expected to have contracted an adjusted 1.5%, […]

Chinese agriculture grapples with the coronavirus pandemic; food crisis might be in the cards

According to a Chinese agriculture official on Monday, the virus outbreak might cause an economic shock to the global food trade and cause another global food crisis. Commentaries were released as the virus outbreak affected the international agriculture supply chains and overturned trades. Other countries also reduced its supplies of grains and enhanced the buying […]

Gold declines despite decreased risk sentiment

Gold furthered losses on Monday morning in Asia despite decreased risk sentiment over the weekend Gold Futures fell by 0.42% to $1,691.70 per ounce at 9:46 PM ET (2:46 AM GMT). Asian stocks also fell before China’s release of the loan prime rate which is expected later in the day. Gold prices and the stock […]

Facebook to launch new gaming app: New York Times

Facebook Inc (FB.O) will introduce a newly-developed mobile gaming application on Monday. The application was designed to bring a live game streaming experience in an attempt to compete against Amazon.com Inc’s Twitch, Google’s Youtube, and Microsoft Corp’s Mixer services. “Investing in gaming, in general, has become a priority for us because we see gaming as […]

Brent oil rises 3% after Trump announces guideline to lifting restrictions

Oil prices gained on Friday with Brent rising almost 3% after President Donald Trump revealed the guidelines on reviving the U.S. economy. Brent rose 2.7%, or 75 cents, at $28.57 per barrel. U.S. crude for May delivery was up by 0.1%, or 1 cent, at $19.88 per barrel, while the June contract gained 4.3%, or […]

Home quarantine setup supports global stocks, bonds decline

Shares of Netflix and Amazon.com had supported the world stock market on Thursday. Hefty gains were monitored as investors anticipated large earnings posed by the stay-at-home setup. However, yields faltered as negative U.S. jobs data indicated a surge in unemployment. Amazon (AMZN.O) and Netflix (NFLX.) greatly advanced as the current home quarantine mandate increased the […]

Dollar gains as weak economic data drives investors to safety

The dollar rose against other currencies as investors turned to safety after data revealed a worsening economic activity. The dollar index showed a 0.2% gain, at 99.831. The euro fell 0.25%, at $1.0881 and the pound dropped 0.2%, at $1.2482. The dollar gained 0.4%, at $107.86 against the Japanese yen. U.S. retail sales fell 8.7% […]

Top U.S. retail banks to pause overdraft collections as stimulus program hit


The highest U.S. retail banks will make some adjustments on Thursday to supply aid to its customers with negative balances on their checking accounts. These banks want to make sure that stimulus payments from the government will be received by its customers. Each citizen must receive funds of as much as $1,200 as a part […]

Gold prices rise amid gloomy economic data

Gold prices rose in Asian markets on Thursday as investors continued to assess the economic damage caused by the COVID-19 pandemic. Gold futures gained 0.33% to $1,745.70 per ounce at 9:37 PM ET (2:37 AM GMT) as the precious metal attempted to reclaim its losses from the previous session. Companies reported gloomy numbers while the […]

Exxon raises $9.5 billion from the debt market while it’s still open to new deals

Exxon Mobil Corp (XOM) raised new debt of $9.5 billion on Monday. The company paid a lower price to borrow from debt markets as energy prices collapsed amid virus outbreak. Other highly-rated U.S. companies have also been tapping debt markets for cash due to the uncertainty of economic impact from coronavirus. The logic behind Exxon’s […]

Production cut will sustain oil, boost stocks, analysts say

The agreement to cut production between the world’s oil producers may support stocks to recover losses. However, lockdowns and other restrictions remain pressing to the global economy. OPEC and its allies including Russia agreed to slash oil production by 10% of global supply to sustain oil prices amid the crisis. However, sources close to the […]

Canada finally welcomes oil cut deal by OPEC


Canada formally welcomed a deal finalized by OPEC on Sunday. Canada and other oil producing nations will cut production by nearly 10 Million barrels per day for the month of May to June. “This is good. We welcome any news that brings stability to global oil markets,” Canada’s Minister of Natural Resources Seamus O’Regan said […]

Saudi, U.S. and Russian leaders express “great satisfaction” to OPEC+ meeting results

Saudi Arabia’s King Salman, U.S. President Donald Trump, and Russia’s President Vladimir Putin expressed their “great satisfaction” on the outcome of the OPEC+ meeting during a conference call, Saudi Press Agency (SPA) reported on Sunday. “The big Oil Deal with OPEC Plus is done. This will save hundreds of thousands of energy jobs in the […]

GDP to decline by up to 30% amid pandemic- UK Finance Minister

Britain’s gross domestic product (GDP) is expected to contract by up to 30%, according to Finance Minister Rishi Sunak. The forecast was disclosed to his colleagues as members of the cabinet demanded to ease lockdown restrictions amid the coronavirus pandemic. According to reports that the Times newspaper released, Sunak told his colleagues that a 25% […]

European shares lose 2-day gain streak as Tesco plunges

European shares lost its two-day gain streak after Spain reported a rising number of COVID-19 deaths and France became the fourth country to have a death toll above 10,000. Britain’s leading retailer Tesco plunged by 7% to the bottom of the STOXX 600 Index. The drop comes after the retailer said that it is expecting […]

Fed sets up ‘Payroll Protection Program,’ provides financing

The U.S. Federal Reserve created a new small-business loan program by allowing banks to exchange those loans for cash at the U.S. central bank. This program aids banks ease their concerns of having to hold low interest loans.  The Fed will announce further details of the new term financing arrangement for loans under the Payroll […]

Airbnb receives $1 billion investment from Silver Lake, Sixth Street

Private equity companies Silver Lake and Sixth Street Partners will invest $1 billion to Airbnb on Monday. There were other 20 investors that also approached Airbnb about investing in the company. The debt and equity investment sum up Airbnb’s cash reserves to $4 billion. It will support the finances of the company amid virus outbreak. […]

JPMorgan responds to racism allegations

JPMorgan Chase & Co (JPM.N) will modify its customer complaint system on Tuesday and process how employees choose eligible clients for particular banking services. There were racial discrimination claims in the bank against black customers last December 2019, New York Times reported. Audio recordings made by a bank employee and a customer served as evidence […]

Dollar rises as oil prices close at record gains in previous session

The U.S. dollar rose slightly in Asia on Friday after crude oil prices surged by almost 25% in a previous session. The jump in oil prices came after U.S. President Donald Trump signalled on a potential truce between Saudi Arabia and Russia regarding their price war on Thursday. The Greenback, against a basket of currencies […]

Asian stocks mixed after losing record gains from surging oil prices

Asian stock markets remained uncertain on Friday as it lost some of its record gains from a surge in oil prices in an earlier session. Japan’s Nikkei went up by a modest 0.32% by 10:33 PM ET (3:33 AM GMT) while South Korea’s KOSPI gained 0.48%. Losing its previous gains, Australia’s S&P/ASX index fell by […]

Gold prices gain amid prolonged economic uncertainty

Gold prices rose in Asian markets on Thursday as investors prepared for prolonged economic turbulence caused by the coronavirus pandemic. Gold Futures gained by 0.41% at $1,598 per ounce at $1,598 by 10:21 PM ET (3:21 AM GT), taking back lost ground from yesterday’s session and reclaiming its safe-haven status. The news of the yellow […]

General Motors delays 2021 SUVs update due to coronavirus outbreak

General Motors GM.N directed suppliers to halt preparations on Monday for the updates of SUVs and other future models for the next year 2021 because of the coronavirus pandemic. General Motors urged its suppliers to delay their planned launch next month. This delay is a signal to the car business industry to conserve cash until […]

Dollar gains, yuan steady as investors skeptical of recovery in Chinese manufacturing sector

The dollar climbed against the Japanese yen on Tuesday after businesses and investors covered a shortfall in the U.S. currency, but overall market sentiment remained gloomy due to intensifying risks of the pandemic. The Chinese yuan remained steady despite a growth recovery in the manufacturing sector in March, as investors stayed skeptical of the recovery […]

E-firm Alibaba to buy 10% shares in Chinese courier Yunda: sources

E-commerce giant Alibaba Group Holding Ltd said that they had plans to buy a minimum of 10% of Yunda Holding Co Ltd according to two sources with knowledge in the matter. Alibaba has been leaning on buying the stake from Yunda’s major shareholders, the source said. Yunda’s controlling shareholders are Nie Tengyun and Chen Liying, […]

Healthcare stocks prompt Wall Street’s upbeat activity

U.S. shares advanced on Monday, with gains partly from healthcare stocks as investors sought securities which have diminished in value and are resistant from measures aimed at slowing coronavirus contagion. The S&P healthcare sector .SPXHC clocked in a total of 4.67% gains. The upbeat mood was partly attributed from Johnson & Johnson (JNJ.N) and Abbot […]

Asian shares plunge due to virus, central banks offer temporary relief

Asian shares underperformed on Monday and oil prices sunk further as pessimism emerged that the worldwide shutdown and restrictions could last longer, impacting the global economy despite central banks’ necessary measures.   Japan’s benchmark index Nikkei declined by 2.7% and Shanghai blue chips lost 1.8%. MSCI’s broadest index of Asia-Pacific shares outside Japan inched down […]

Asian shares advance on stimulus optimism, dollar declines

TOKYO- Asian stocks recorded a well-ended performance on Friday as investors anticipated another set of stimulus measures to alleviate the drag brought by the novel coronavirus pandemic. Upbeat market mood followed after US unemployment statistics jumped at record-high. MSCI’S broadest index of Asia-Pacific shares outside Japan inched up by 1.2%. Australian shares shed 1.09% and […]

Fed balance sheet rises $5 trillion for the first time since financial crisis

The US Federal Reserve’s balance sheet rose up to more than $5 trillion in assets after taking up bonds and extended loans to banks, central banks, and mutual funds in its emergency measure to support the economy amid the coronavirus pandemic. The Fed’s balance sheet size reached up to half a trillion dollars in a […]

Gold prices drop as U.S. congress concludes deal on $2 trillion stimulus package

Gold prices dropped on Thursday in Asian markets following a U.S. congress announcement reaching a deal to roll out a $2 trillion financial stimulus in a bid to bolster an economy heavily impacted by the coronavirus. Gold Futures was unable to maintain steady gains and last traded below 0.2% to $1,629.80 by 9:24 PM ET […]

Oil prices drop as demand declines, markets pin hope on US stimulus

Oil prices slid on Thursday after three days of consecutive gains, despite risks of rapid decline in demand caused by travel cancellations and lockdowns amid the coronavirus pandemic. However, markets pin their hope on the $2 trillion US emergency stimulus to support economic activity. Brent crude futures was down 0.7% or 19 cents, at $27.20 […]

US Department of Agriculture,Trade Representative declare progress on farm products on U.S.-China trade deal

WASHINGTON – The United States and China have gained progress in achieving the agriculture-related agreements of a Phase 1 trade deal that produced results on February 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative said on Tuesday. In a joint announcement, they recorded advanced steps taken that should help support U.S. exports […]

Trump says he may cut down closures shortly regardless of deteriorating coronavirus outbreak

President Donald Trump said on Monday he is seeing how to resume the U.S. economy when a 15-day shutdown ends next week, even as the highly epidemic coronavirus is spreading quickly and hospitals are preparing for a wave of virus-related deaths. “America will again and soon be open for business,” Trump said in a White […]

U.S. Securities and Exchange Commission forewarns against illegal trading during the coronavirus inconvenience

WASHINGTON – The U.S. securities inspector on Monday forewarned corporate executives against insider dealing during inconvenience caused by the coronavirus, in an unusual statement that emphasizes the chaos cascading through financial markets. Company supervisors, personnel, human resources, investigators, and other outside professionals who have access to material, nonpublic information should be “mindful of their obligations” […]


Asian stocks managed to find its momentum on Tuesday as U.S. Federal Reserve’s funding plan temporarily relieved market sentiment from pressing losses in financial markets. However, the said scheme seemed inadequate in addressing the economic impact of the novel coronavirus. Wall Street remained flat on red but S&P 500 E-Mini futures jumped by 3% while […]

Oil markets drop amid coronavirus chaos

Oil prices fell on Monday as governments increased lockdowns to limit the spread of the global coronavirus outbreak that has dropped the demand outlook for oil and threatened a worldwide economic compression. Brent crude LCOc1 futures dropped $1.09, or 4% to $25.89 a barrel by 0209 GMT. West Texas Intermediate (WTI) crude CLc1 futures fell […]

$1 trillion coronavirus economic aid sought by U.S. senate

On Thursday, an emergency legislation had been introduced by U.S. Senate Majority Leader Mitch McConnell. This aims at stemming economic fallout created by the coronavirus pandemic. Both Republicans and Democrats agreed to meet today to reach an agreement. The financial package includes direct financial help for Americans, small businesses relief, and support for both healthcare […]

Asia shares recovers from continuous losses, dollar rush causes market stress

The Asian shares market saw its way to recovery on Friday amid Wall Street gains as well as a record rebound in oil prices. However, with investors in a panic Dollars stampede, many speculate that the crisis has not yet come to an end. MSCI’s broadest index of Asia Pacific shares outside Japan rallied by […]

Bond markets under pressure, central banks employ aid

Bond prices reached new depths on Thursday as wary investors disposed large volume of government bonds in virus-inflicted market. The sharp decline prompted central banks to heighten support for debt. Australian 10-year bond surpassed 50 basis points to 1.647% despite the initial scheme of Reserve Bank of Australia to reduce interest rates and implement monetary […]

Panic at the market: cash the only way out

Thursday saw the dollar climb up as central bank emergency measures in Europe, Japan, the United States and Australia weren’t able to stop the wave of panic selling.   “There’s no buyers, there’s not much liquidity and everyone is just getting out,” head of research at Melbourne brokerage Pepperstone, Chris Weston said in a statement. […]

Oil climbs up to 20% as investors cling to coronavirus stimulus spending

Oil prices climbed up to 20% on Thursday after recovering from days of steep declines. However, analysts warn that the rally may be short-lived as coronavirus fears still threaten a recession. Brent crude gained 8%, or $2.10, at $26.98 per barrel, following a 13% fall on Wednesday. U.S. oil climbed 17%, or $3.44, at $23.81 […]

German retailers’ arms in the air as stores close

On Wednesday, Germany’s HDE retail association urged the government to give immediate state aid and tax relief so as to prevent the wide closure of businesses no matter how temporary. To date, the country had been losing 7 billion euros weekly.   In an interview, HDE President Josef Sanktjohanser had stated, “Massive loss of turnover […]

Oil steadies following steep declines amid pandemic

Oil prices steadied on Wednesday after hitting four-year record lows, hit by weak fuel demand, global travel ban, and social restrictions to contain the virus pandemic. Brent crude went up 0.3%, or 8 cents, at $28.81 per barrel. The international benchmark dropped 4.3% on Tuesday. U.S. crude slid 2 cents, at $26.93 per barrel. West […]

France sends out 45 billion euro package to help economy after sliding down 1%

Finance Minister Bruno Le Maire on Tuesday announced that France will be sending €45 billion ($50.22 billion) toward companies across the country after many expected its virus-hit economy to drop by 1%. Le Maire said that a major part of the fiscal package would be the deferral of all taxes and payroll costs that companies […]

Oil slips due to weak demand and price war amid pandemic

Oil continued losses on Monday as the Federal Reserve imposed an emergency rate cut to ease global financial markets that are panicked and caught in between the price war between Russia and Saudi Arabia. Brent crude dropped $1.13, at $32.72 per barrel, following a 25% fall last week. U.S. crude was down 72 cents, at […]

Boaz Weinstein reports Saba funds gaining record profits amid plummeting market

Boaz Weinstein’s primary hedge fund Saba Capital Management LP disclosed a 33% gain in March amid a market severely affected by the coronavirus pandemic. The profits added its year to date gain up to 67%, a letter to its clients said. Saba’s Tail Fund, which pledged market insurance in the event of markets collapsing, performed […]

EU to agree on economic response to outbreak

Members of European Union finance ministries on Monday have decided on a coordinated economic response to the coronavirus after wide speculation that its effects could potentially push the EU into a recession. The move is currently comprised of various procedures taken by its 27-nation bloc as well as the halting of limits on epidemic-related spending […]

Wall Street sell-off sends double-digit falls in stocks as investors opt to cash

Wall Street slipped into bear market on Thursday, along with decline in European stocks, Bitcoin, and precious metals, as investors sell assets in return for cash. Bitcoin fell 26%, its biggest drop in seven years. Precious metals like platinum and palladium suffered their steepest declines since the 1980s, with 20.4% and 11.1% declines, respectively. The […]

Dollar gains against major currencies as markets rush for liquid assets amid pandemic

The dollar recovered on Friday as investors turned to the most liquid currency amid intensified global concerns over the pandemic virus. The euro eased losses after the European Central Bank (ECB) refrained from slashing interest rates. The dollar gained the most against other currencies after swap spreads indicated that there was a shortage in dollars […]

U.S. ban on travel from Europe pressures airliners hit by virus

The U.S. ban on citizens travelling into the country from Europe has piled on the pressure on airlines that have already been affected by the impact of the coronavirus. The 30-day restrictions are comparable to those implemented in China early February and was announced after the virus had spread across the world including the European […]

Europe Inc’s profit becomes worse in 2020, the effect of Coronavirus

LONDON – Europe’s market revenue were anticipated to decline this week as the vast spread of the pandemic coronavirus outbreak sparked terror and fright to the worldwide economy. This was according to leading global Refinitiv’s findings on Tuesday.  STOXX Europe 600 is slated to affix a 3.1% decrease in their first quarter income (January to […]


Finance Minister Rishi Sunak said on Wednesday that the British government will allocate 2.5 billion pounds ($3.2 billion) on road repairs fixing approximately 50 million potholes in roads over the next five years. According to Sinak, the extra 500 million pounds of spending on road repairs in the coming years was part of a larger […]

Oil recovers after sharp decline, forecast remains ambiguous

SINGAPORE- Oil prices recuperated from previous drop and advanced 6% on Tuesday. However, analysts believed that there is very little margin for recovery from sharpest decline in nearly 30 years as Saudi Arabia and Russia are currently caught in a price dispute.                 Oil prices’ upbeat activity was enforced by optimism for a settlement and […]

U.S. stocks plummet by 5% after crude loss fans market fears

U.S. stock futures declined sharply by 5% to its daily limit after a record-breaking, single-day drop in Crude Oil WTI Futures in thirty years fanned market fears of a credit crunch worldwide. Saudi Arabia’s move to increase oil production to above 10 million barrels per day and decrease its selling price came after Russia hesitated […]

Australia bids for $6.6 billion market stimulus to cushion virus impact

An Australian newspaper reported on Monday that the government is launching to implement monetary measures by injecting A$10 billion ($6.6 billion) in circulation to battle the economic impact of the coronavirus spread. “The details of our fiscal response are still being finalized and we will be working with the colleagues in coming days to conclude […]

Investors’ fears resurface over recession, descending market as COVID-19 spreads in US

NEW YORK- Bear market and recession became two of the most used words in the financial landscape as investors reviewed the overall impact of the novel coronavirus and future ramifications this may inflict to global growth.   Investors also assessed its direct impact on asset. The fast-paced virus contagion brought sharp movements in markets across the […]

Oil clocks in more than 1%; virus anxiety restricts gains

SINGAPORE- Oil prices soared more than 1% on Thursday after its underperformance the previous day on a lower-than-expected increase monitored in the United States. However, earnings were restricted by ambiguity whether major oil manufacturers will implement deeper output reduction. Brent crude LCOc1 advanced 78 cents, equivalent to 1.5%, and was last quoted at $51.91 per […]

South Korea announces $9.8 billion stimulus to combat coronavirus

South Korea announces $9.8 billion stimulus to combat coronavirus South Korea on Wednesday announced a stimulus package of 11.7 trillion Won ($9.8 billion) to soften the blow of the virus that had spread beyond China. The stimulus, after parliamentary approval, will transfer financial aid to the country’s health system, child care, and outdoor markets according […]

Early Fed rate cut sparks market anxiety, Dollar on the defensive

Early Fed rate cut sparks market anxiety, Dollar on the defensive The U.S. Dollar on Wednesday after an early Federal Reserve cut rates by 50 basis points, sparking anxiety within the markets about the impact of the virus. The Fed move came as a surprise to investors as the cut came 2 weeks ahead of […]

U.K. and E.U. officials begin trade talks, agreement breakdown looms

Officials of the British government and the European Union will commence their trade negotiations on Monday to bridge gaps between the E.U. and the U.K. brought about by the eventual Brexit. However, breakdown fears grow amid the incipient trade talks. Three individuals familiar with the development raised concerns that both parties are waving red flags […]

U.S. markets appear strong amid COVID-19 concerns

NEW YORK- Stock market’s inactivity observed last week mainly from novel coronavirus concerns was the sharpest underperformance since the 2008 financial crisis. However, market analysts said on Monday that trades are stable all of which could be attributed from strong market structure. The S&P 500 .SPX plummeted 11.5% the previous week before rebounding on Monday […]

South Korea’s February inflation eases as COVID-19 impacts demand

SEOUL- South Korea’s February consumer inflation was monitored to be on a slow note mainly from dwindling demand brought by the coronavirus contagion and fluctuating oil prices, official records disclosed on Tuesday. The slow inflation indicated that there is an immediate need for interest cuts in order to solve consumption and growth problems. According to […]

Euro firms as Federal cut expectations pull traders’ interest out of dollar

SINGAPORE- The euro stabilized against the greenback on Tuesday. The session placed euro close enough to its peak in two months on hopes that the monetary easing in the United States will intensively run compared to other measures implemented in Europe.   The euro traded $1.1185 in overnight session, the highest performance since early part […]

Apple settles US lawsuit over slow iPhones

Apple Inc. will pay $500 million to resolve litigation that accused the company of deliberately slowing down older iPhones in each new model launch, as a way to encourage owners to buy the newer model or replacement to old iPhones. The preliminary class-action settlement was revealed on Friday and is set to be approved by […]

South Korea fourth-quarter GDP growth revised from initial forecast

South Korea’s economy expanded by a little more than estimated during 2019’s final quarter, attributed to higher domestic demand and capital investment. Asia’s fourth largest economy grew by 1.3% on seasonal adjustment in the October-December period. The figure was higher than the 1.2% forecasted rise, as shown in the revised GDP of the Bank of […]

GFL raises up to $1.4 billion in IPO

GFL Environmental Inc raised nearly $1.4 billion in its IPO, pricing shares below target range in an attempt to withstand market volatility amid the virus outbreak. The Canada-based waste management company valued its IPO at $19 per share, slightly lower than the $20-$21 per share target range and a market value of $6.08 billion. The […]

Bank of Canada to keep rates unchanged, rate cuts seen within the year: poll says

Reuter’s survey revealed that the Bank of Canada will keep its interest rates steady at 1.75% on Wednesday. However, monetary easing is seen to be imposed before the year ends, according to a significant number of economists surveyed in the poll. Twenty of 34 or 60% (majority) of the economist-respondents said that Canada’s central bank […]

Income surge sets the London Stock Exchange closer to Refinitiv deal

The London Stock Exchange (LSE) said on Friday that it was “on track” to completing its takeover of the analytics company, Refinitiv, after a clearing activity led to a higher-than-expected annual income. According to LSE CEO David Schwimmer, the $27 billion deal with Refinitiv is planned to be fulfilled by the second half of 2020. […]

Yen surges as investors retreat to safe haven assets

The Japanese Yen on Friday rose to a one-month high after the reports of the virus spreading outside of China piled on concerns and sent investors retreating to safe-haven assets. Hopes of the virus containment in China diminished after several cases were reported on different continents, prompting governments to take action.   The Yen jumped […]

Oil prices sink as nCoV contagion reaches greater scope

TOKYO- Oil prices hit a five-day low on Thursday, its lowest performance since January 2019. Such inactivity was brought by increasing rate of coronavirus diagnosis outside China which intensified investors’ fears that the contagion will drag and lower demand for oil. Brent crude LCOc1 inched down 77 cents, equivalent to 1.4%, and last stood at […]

Asian shares underperform, bonds soar as nCoV anxiety presses

TOKYO- Asian shares sunk down on Wednesday after the United States warned that further spread of novel coronavirus may end up as a global emergency. The announcement dragged Wall Street and tied earnings on safe-haven Treasuries to low grounds. The S&P 500 .SPX and the Dow Jones Industrial Average .DJI lost 3% on Tuesday’s session, […]

Wall Street falls on pandemic fears as Italy faces virus impact

Wall Street falls on pandemic fears as Italy faces virus impact A sudden increase of people infected by the fast-spreading coronavirus in Italy including several Middle Eastern countries reignited market fears of a global pandemic. The World Health Organization stated that while limited outbreaks abroad China were expected, the surge in cases escalating from 3 […]

Asian stocks steady in decline as investors await clarity on pandemic risk

Asian stocks steady in decline as investors await clarity on pandemic risk Asian stock markets steadied in decline on Tuesday after an easing global sell-offs and a brief jump in Wall Street markets. According to the Wall Street Journal, market sentiment was supported by news on a potential vaccine to be developed soon. However, the […]

Asian currencies drop as investors flee to safe haven assets amid news of virus spreading beyond China

Asian currencies drop as investors flee to safe haven assets amid news of virus spreading beyond China Asian currencies fell on Monday following news of the rapidly spreading coronavirus being reported on several countries outside of China. The news fanned fears of a pandemic and had investors retreating to safe haven assets such as gold […]

Buffett’s Berkshire regains rising stocks, smashes old record profit

Warren Buffett’s Berkshire Hathaway Inc. reported a 23% decline in its quarterly operating profit, while rising prices in many stock holdings allowed the conglomerate to top its past full-year earnings. Buffett explained Berkshire’s entry into stocks in his letter to the conglomerate’s shareholders. Berkshire’s last acquisition of stocks was four years ago, leaving the company […]

UK-EU transition extension course fades, favors goods-only agreement: tracker reveals

The Brexit transition period slated until December 2020 to negotiate with its former bloc, the European Union is less likely to happen, according to a poll conducted by Reuters in which more than half or two-thirds of economist-respondents said so. In this highly likely scenario, the trade deal between the conflicting parties will turn into […]

Japan suffers economic woes, BOJ under pressure

Japan’s core consumer inflation barely recovered in January. This had put pressure on the Bank of Japan to maintain its massive monetary stimulus to underpin the economy weakened by slow growth and weak prices. Tame inflation is cause for worry in Japan’s economy still saddled by the virus impact. The BOJ expressed no interest to […]

Oil declines as larger nCoV contagion brings demand concerns

TOKYO- Oil prices underperformed on Friday as concerns regarding demand continue to disturb investors. Such inactivity followed after the coronavirus contagion encroached territories outside China while leading oil manufacturers launched to deeper output production to alleviate the market from harm. Brent crude futures lost 24 cents, equivalent to 0.4%, and last stood at $59.07 per […]

S&P and Nasdaq close on record gains amid hopes on new China stimulus

The S&P 500 and Nasdaq closed at record highs on Wednesday amid expectations of a newly-issued stimulus from Beijing to soften the economic impact of the coronavirus. The spread of the virus had been reported to show signs of  slowdown in China. The S&P 500 soared 0.47% while the Nasdaq Composite surged 0.87%. Meanwhile, the […]

NCoV may bring risks to global economy’s frail recovery: IMF

WASHINGTON- The coronavirus contagion has already brought intensive level of tension in China’s economy and further spread of the virus to other nations could inflict more damage to an already weak recovery of global economy, the International Monetary Fund disclosed on Wednesday. Included in the document released by the international lender were risks including the […]

Dollar outperforms Euro as investors consider a deepening virus impact

Dollar outperforms Euro as investors consider a deepening virus impact The U.S. Dollar towered over the declining Euro and other heavily sold exporter currencies on Wednesday as investors took into consideration of a deepening economic fallout due to the coronavirus outbreak in China. The virus’ death toll in China rose to over 2,000 with more […]

Asian shares soar on slowing virus cases, euro remains frail

TOKYO- Asian shares and U.S. stock futures clocked in gains on Wednesday. Upbeat market activity followed as investors grew a bit optimistic on recent decline in the novel coronavirus’s number of new cases. MSCI’s broadest index of Asia-Pacific shares outside Japan strengthened with 0.03%. The index fluctuated during its early session simultaneously switching between earnings […]

South Korea pledges emergency measures as virus outbreak in China affects economy

South Korea pledges emergency measures as virus outbreak in China affects economy Two of South Korea’s chiefs of economic policy pledged on Friday that they would deploy emergency measures to minimize the impact of the novel coronavirus on the country’s economy. Finance Minister Hong Nam-ki and Bank of Korea Governor Lee-Ju-yeol made the remarks at […]

Oil firms but sets to acquire more gains on output reduction optimism

Oil prices remained steady on Friday but are more likely to rake in more gains mainly from expectations that major oil manufacturers will implement larger oil reduction to aid demand slump in China, the world’s second-biggest oil importer. Brent crude futures LCOc1 lost 9 cents to $56.25 per barrel at exactly 0224 GMT. Such followed […]

Wall Street reaches record closing highs amid coronavirus slowdown

Wall Street reached new record highs on Wednesday as investors recover appetite over coronavirus slowdown. Technology shares led the rally that lifted three major U.S. stock averages to new highs. The S&P 500 and Nasdaq closed three consecutive highs. The Dow achieved its most recent record on Feb. 6. New coronavirus cases in China tallied […]

Yen soars, yuan and Aussie dollar decline as coronavirus concerns resurface

TOKYO- The yen recovered from three weeks of underperformance against greenback on Thursday. Upbeat activity followed after Hubei province in China reported an atrocious increase in the number of new coronavirus cases boosting markets and rallying investors to resort to safe-haven assets. The Chinese yuan shed gains against the dollar as recent developments on coronavirus […]

Hyundai considers expansion with another electric auto startup

Korean automaker Hyundai Motor Co expanded its future automobile profile by collaborating with California-based startup Canoo in producing electric vehicles, the company disclosed on Tuesday. The said pact with Canoo was the second agreement that Hyundai and sister company Kia Motors Corp sealed for electric vehicle production. Such followed after the company disclosed its plan […]

Coronavirus in California, brings U.S. cases to 13

California confirms a case of the nCoV, bringing it to a total of 13 cases in the United States. The person of interest is being held under Federal Quarantine at the U.S. Centers for Disease Control and Prevention (CDC), after return from Wuhan, China. The unnamed patient was also an evacuee from Wuhan, among the […]

Kia Motors to suspend South Korean production plants as auto parts supplies dwindle

Kia Motors to suspend South Korean production plants as auto parts supplies dwindle Kia Motors has said that it would be suspending production at its three car manufacturing plants in South Korea due to a dwindling supply of auto parts, according to a company official on Monday. Kia Motor’s factories located at Gwangju and Sohari […]

Businesses resume in China; currencies gain as coronavirus slows down

Asian currencies gained on Monday as signs of the coronavirus slowing down prompted large businesses in China to resume operations. Workers started to return to offices and factories as the government relieved some travel restrictions. The epidemic has already killed over 900 people, most of whom reside in mainland China. The Australian dollar gained 0.5%, […]

Vietnam-China trade in January drops amid virus outbreak and holidays

Vietnam-China trade dropped in January due to the coronavirus spread amid the Lunar New Year holiday, disrupting supply chain and transport. China is Vietnam’s largest partner in trading in manufacturing of materials and equipment for labor. Bilateral trade fell in January for 25.8% from December’s figures. In the previous year, bilateral trade declined 11.8%, the […]

Oil climbs 1% over production cuts in coronavirus impact

Oil prices gained over 1% on Wednesday, underpinned by news of potential extended production cuts by OPEC+ to counter weak global oil demand caused by coronavirus outbreak. Brent crude oil futures LCOcl gained 1.4%, or 74 cents, at $54.70 per barrel by 0326 GMT. West Texas Intermediate crude futures rose 1.2%, or 61 cents, at […]

Tesla posts skyrocketing stock early in 2020

Tesla is on a roll early this 2020 as its shares skyrocketed anew on Tuesday. Tesla’s shares increased by as much as 20.5%, and trading as high as $940. This milestone appreciated Tesla’s worth at around $170 billion. In the last two days, Tesla posted a 40% increase in shares. Tesla’s overall performance for this […]

Oil, markets recover from slump over coronavirus spread

Oil prices gained following rebound in other financial markets as investors steady after a sharp sell-off on Monday. Fears on the effect of the virus outbreak on oil demand caused crude oil to drop to its lowest in over a year. Brent crude gained 21 cents, or 0.4%, at $54.66 per barrel by 0227 GMT. […]

Chinese Yuan holds steady amid coronavirus-led anxiety

Chinese Yuan holds steady amid coronavirus-led anxiety China’s currency and stock markets held steady on Tuesday after news of the spreading virus in China hit the Yuan. In the previous session, the Yuan had lost around $400 billion in market value from the Shanghai benchmark index. The Shanghai Composite opened 2% lower before regaining ground […]

UK mulls looser trade deal with EU, akin to EU-Australia trade ties

Days after Brexit, British Prime Minister Boris Johnson would consider setting a looser trade agreement with the European Union, a trade deal arrangement akin to that of the EU and Australia trade ties. This possibility is an indicator that the United Kingdom is unlikely to follow the EU’s rules to come up with a trade […]

South Korea chip output boosts factory production in December

South Korea’s factory output in December higher than estimated as a large chip production boosted industri