Economic news

Britain’s Next upgrades profit projection for second time in two months
06.05.2021 - Petr Mazaylo

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 hovers near two-week high, investors eye U.S. jobs data for Fed clues
06.05.2021 - Kulakov Vladimir

The dollar lingered below a two-week top on Thursday, consolidating ahead of a key U.S. jobs report that may include hints at a shift in monetary stimulus by the Federal Reserve.  The greenback rose from a one-month low over the past week. The dollar index was little changed at 91.316 on Thursday, after climbing to […]

Oil slides as U.S. gasoline stocks climb for a fifth week
06.05.2021 - Korneychuk Evgeniya

Oil prices dropped on Thursday as U.S. gasoline stockpiles, the world’s biggest oil consumer, climbed for a fifth straight week. Still, a drawdown in crude inventories helped cap losses.  Brent crude oil futures were down 0.2%, or 16 cents, at $68.80 per barrel, while U.S. West Texas Intermediate crude futures lost 0.3%, or 20 cents, […]

Gold up ahead of U.S. job data release
06.05.2021 - Korneychuk Evgeniya

Gold edged up in Asian trade on Thursday ahead of the release of U.S. non-farm payroll data, and the benchmark 10-year U.S. Treasury yield and the dollar also rose. Gold futures improved 0.27% to $1,789.15. The U.S. ADP Nonfarm Employment Change jumped to 742,000 in April, missing the expected growth figures. However, the growth was […]

U.S. private payrolls reach historic peak in seven months
06.05.2021 - Kulakov Vladimir

U.S. private payrolls reached their highest level in seven months in April. The expansion was mainly from an increase in production brought about by surging demand. This indicated that the economy was gaining tighter momentum on the government’s fiscal aid and coronavirus vaccinations. The country’s private payrolls recorded a 742,000 increase in April, the sharpest […]

U.S. service sector decelerates in April
06.05.2021 - Korneychuk Evgeniya

The services industry of the United States posted a mild contraction in April. The deceleration could be attributed to shortages of inputs as the country’s large stimulus package and improving public environment boosted demand. The Institute for Supply Management’s non-manufacturing activity index was read at 62.7 in April. The reading placed lower than the 63.7 […]

Dollar rallies as risk appetite fades
05.05.2021 - Petr Mazaylo

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%, […]

Oil rises on steep U.S. crude stocks drop
05.05.2021 - Evdokimov Roman

Oil prices climbed almost 1% on Wednesday, extending overnight gains after industry data showed U.S. crude inventories slid more than expected last week. The decline reinforced bullish views on fuel demand in the United States. U.S. West Texas Intermediate crude futures rose 0.9%, or 60 cents, at $66.29 per barrel, after rising to $66.45, its […]

Lyft posts sustained profit on cost cuts, upbeat demand
05.05.2021 - Evdokimov Roman

Lyft Inc posted better-than-expected profits on Tuesday. More so, it pledged to deliver dependable and seasonally adjusted profits in the third quarter as cost reduction allowed the company to earn more. For five consecutive days, Lyft’s shares declined a total of 11%. They regained momentum to trade 5.2% higher during their after-hours trading on Tuesday. […]

Asian shares stagnant; holidays minimize tech plunge
05.05.2021 - Davydova Maria

Asian share markets traded cautiously for four consecutive sessions on Wednesday. This followed after investors’ sentiment was dampened by a tech selloff in Wall Street and rising interest rates in the United States. Holidays in Japan, China, and South Korea restricted shares from plunging, making MSCI’s broadest index of Asia-Pacific shares outside Japan stagnant. Japan’s […]

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