Economic news


Beijing Doubles Down on Rooting out Crypto in China

Beijing Doubles Down on Rooting out Crypto in China

China’s central bank said on Monday it had urged some banks and payment firms to crack down harder on cryptocurrency trading, in the latest move by Chinese authorities to stem the use of digital coins.


June 22, 2021
S&P 500 Set to Open Higher ahead of Powell Testimony
S&P 500 Set to Open Higher ahead of Powell Testimony

The S&P 500 was set to open within 1% of its peak on Tuesday as investors looked to Federal Reserve Chair Jerome Powell’s remarks for...

Gold Slips and is on Pace for Third Decline in Four Sessions
Gold Slips and is on Pace for Third Decline in Four Sessions

Gold futures headed lower Tuesday, with commodity investors keeping an eye on congressional testimony by Federal Reserve Chairman Jerome Powell...

Oil Prices Mixed after Brent Tops $75 a Barrel for First Time in 2 Years
Oil Prices Mixed after Brent Tops $75 a Barrel for First Time in 2 Years

Oil futures traded on a mixed note Tuesday after global benchmark Brent crude briefly climbed above $75 a barrel for the first time in more than...

Splunk Receives $1 Billion Investment from Silver Lake
Splunk Receives $1 Billion Investment from Silver Lake

Splunk Inc said on Tuesday that it had received $1 billion in investment from private-equity firm Silver Lake, triggering an 8% jump in shares of...

Dollar-Driven Sterling Drops Back Below $1.39
Dollar-Driven Sterling Drops Back Below $1.39

Sterling fell back below $1.39 on Tuesday as the dollar strengthened, but it was still above the two-month lows it reached on Monday after the...

Pre-Powell Dollar Uptick Brings Back Gold Gloom
Pre-Powell Dollar Uptick Brings Back Gold Gloom

Gold prices edged lower on Tuesday, ceding some of the previous day’s 1%-plus gain as a dollar uptick before a speech by Fed boss Jerome...

Brent Rises above $75 a Barrel on Strong Demand Outlook
Brent Rises above $75 a Barrel on Strong Demand Outlook

Crude oil prices retreated on Tuesday, after Brent rose above $75 a barrel for the first time since April 2019 and as OPEC+ begins discussions on...

Shares Subdued as Investors Flip-Flop on Rate Rises
Shares Subdued as Investors Flip-Flop on Rate Rises

World shares were struggling to extend a bounce off four week lows on Tuesday, oil prices were at their highest in well over two years, while...

FX Market Reverses Previous Day’s Moves with Little Cause
FX Market Reverses Previous Day’s Moves with Little Cause

Yesterday is what I would call an almost perfect “Matthew Market” in FX. I’ve named it that after the line in Matthew 20:16,...

Australia, NZ dlrs Dragged Lower by Iron Ore Weakness
Australia, NZ dlrs Dragged Lower by Iron Ore Weakness

The Australian and New Zealand dollars fell on Tuesday amid further weakness in iron ore prices, as China tightens its oversight of the market and...

Nikkei Posts Biggest Gains in Year as Shippers Hit 10Y Highs
Nikkei Posts Biggest Gains in Year as Shippers Hit 10Y Highs

Japanese shares jumped on Tuesday, tracking Wall Street overnight, boosted by shipping stocks after Mitsui OSK Lines more than tripled its...

Aston Martin sues Swiss Dealer over Valkyrie Sports Car
Aston Martin sues Swiss Dealer over Valkyrie Sports Car

Carmaker Aston Martin said on Tuesday it was suing Nebula Project AG and its board members, claiming that the Swiss car dealer had failed to pay...

Copper Rises on Weaker USD ahead of Fed Chairman's Testimony
Copper Rises on Weaker USD ahead of Fed Chairman's Testimony

Copper prices advanced on Tuesday as the dollar paused for breath ahead of highly-anticipated testimony from U.S. Federal Reserve Chairman Jerome...

Dutch Economy to Grow 3.2% in 2021 in Sharp Recovery -CPB
Dutch Economy to Grow 3.2% in 2021 in Sharp Recovery -CPB

The Dutch economy is expected to recover much faster from its coronavirus slump than expected, as the rollout of vaccinations lets businesses...

JGB Yields Rise on Tepid 5-Year Auction, Softer U.S. Bonds
JGB Yields Rise on Tepid 5-Year Auction, Softer U.S. Bonds

Japanese government bond yields ticked higher on Tuesday, following a soft five-year JGB auction and as U.S. bond yields bounced back sharply from...

Sensex Surpasses 53,000-Mark as COVID-19 Vaccinations Surge
Sensex Surpasses 53,000-Mark as COVID-19 Vaccinations Surge

A record daily surge in COVID-19 vaccinations powered India’s benchmark stock index on Tuesday past the 53,000-level for the first time ever,...

Beaten-Down Reopening Trade Drives Stock Rebound
Beaten-Down Reopening Trade Drives Stock Rebound

The rally in stocks regained traction as speculation that the Federal Reserve will tighten policy at a gradual pace outweighed concern about the...

Wall Street Ends Sharply Higher, Led by Surging Dow
Wall Street Ends Sharply Higher, Led by Surging Dow

Wall Street rallied on Monday, with the Dow completing its strongest session in over three months as investors piled back in to energy and other...

June 21, 2021
Gold edges higher, attempts to recover from sharpest weekly skid in over a year
Gold edges higher, attempts to recover from sharpest weekly skid in over a year

Gold futures on Monday were headed modestly higher, with the precious metal attempting to claw back from its steepest weekly decline since March 2020.

Oil Prices Edge Lower as Traders Keep Eye on Iran Talks
Oil Prices Edge Lower as Traders Keep Eye on Iran Talks

Oil futures edged lower Monday amid expectations that talks toward restoring the Iran nuclear deal will drag on following the country’s...

Euro Zone Govt Bonds Steady, Inflation Expectations Hit Low
Euro Zone Govt Bonds Steady, Inflation Expectations Hit Low

Euro zone government bond yields were broadly steady on Monday, rising by less than one basis point, while a measure of long-term inflation...

WTI - Brent spread narrows as oil market tightens
WTI - Brent spread narrows as oil market tightens

The price gap between the world’s two most actively traded oil contracts narrowed to its lowest in more than seven months, demonstrating that...

LegalZoom Eyes over $5B Valuation in 2nd Attempt at U.S. IPO
LegalZoom Eyes over $5B Valuation in 2nd Attempt at U.S. IPO

LegalZoom is aiming for a valuation of more than $5 billion in its U.S. initial public offering (IPO), marking the online legal services...

METALS-Copper Sell-off Continues as Prices Hit 10-Week Low
METALS-Copper Sell-off Continues as Prices Hit 10-Week Low

Copper continued to fall on Monday, hitting its lowest level since mid-April after moves by China to rein in commodities price rallies and signals...

Pound Shoots Up One Cent after Falling Overnight Below $1.38
Pound Shoots Up One Cent after Falling Overnight Below $1.38

Sterling rose on Monday, re-emerging from an overnight fall to its lowest level versus the dollar since April after the U.S. Federal Reserve...

Indian Shares Higher Due to Nifty 50 Heavyweights Gains
Indian Shares Higher Due to Nifty 50 Heavyweights Gains

Indian shares closed higher on Monday, as gains in Nifty 50 companies Reliance Industries, Adani Ports and Special Economic Zone and Hindustan...

Stocks Clamber Up, USD Hovers Beneath 10-Week High
Stocks Clamber Up, USD Hovers Beneath 10-Week High

Global stocks recovered some losses after hitting a four-week low on Monday as investors digested last week’s surprise hawkish shift by the...

London's FTSE 100 Hits One-Month Low; Morrisons Surges 31%
London's FTSE 100 Hits One-Month Low; Morrisons Surges 31%

London’s FTSE 100 fell to a one-month low on Monday, as losses in travel and mining stocks outweighed gains in retail shares, while...

Gold Set to Snap 6-Day Losing Streak, U.S. Bond Yields Slide
Gold Set to Snap 6-Day Losing Streak, U.S. Bond Yields Slide

Gold prices rose on Monday, following sixth straight sessions of losses, as a drop in U.S. Treasury yields bolstered the non-yielding metal’s...

Tesco Old Boys Square Up in U.S. Bid for Morrisons
Tesco Old Boys Square Up in U.S. Bid for Morrisons

U.S. private equity firm Clayton, Dubilier & Rice’s (CD&R) pursuit of British supermarket group Morrisons has set up an intriguing...

JPY Up, Commodity Currencies Down; Lagarde comments
JPY Up, Commodity Currencies Down; Lagarde comments

The FX market is still spooked by the Fed’s change in tone. One of the key points is that the Fed has changed its reaction function. It...

FOREX-Dollar Holds Gains after Fed Boost; Bitcoin Tumbles
FOREX-Dollar Holds Gains after Fed Boost; Bitcoin Tumbles

By Iain Withers3 Min Read By Iain Withers Iain Withers 3 Min Read 3 Min Read * Graphic: World FX rates tmsnrt.rs/2RBWI5E tmsnrt.rs/2RBWI5E LONDON,...

Cryptocurrencies Tumble amid China Crackdown on BTC Miners
Cryptocurrencies Tumble amid China Crackdown on BTC Miners

Cryptocurrencies tumbled on Monday as China’s crackdown on bitcoin mining expanded to the province of Sichuan.

Japanese Shares Follow Wall St. Retreat on Fed's Comments
Japanese Shares Follow Wall St. Retreat on Fed's Comments

Japanese shares posted their biggest drop in four months on Monday, tracking Wall Street’s sell-off last week, triggered by fresh comments...

Kerry Group to Buy Preservatives Maker Niacet for $1 Billion
Kerry Group to Buy Preservatives Maker Niacet for $1 Billion

Irish ingredients giant Kerry said on Monday it will buy preservatives maker Niacet Corp for 853 million euros ($1.01 billion), investing the...

AUD, NZD take Breather but Trading near Multi-Month Lows
AUD, NZD take Breather but Trading near Multi-Month Lows

The Australian and New Zealand dollars edged higher on Monday, taking a breather after recent losses made against the greenback, which has been...

Europe Shares Slide as Fed's Hawkish Tone Hits Miners Stocks
Europe Shares Slide as Fed's Hawkish Tone Hits Miners Stocks

European shares fell on Monday as mining and bank stocks bore the brunt of a surprise shift in the U.S. Federal Reserve’s stance on monetary...

PRECIOUS-Gold Prices Firm as U.S. Treasury Yields Slide
PRECIOUS-Gold Prices Firm as U.S. Treasury Yields Slide

Gold prices gained on Monday, after posting a 6% drop last week, as a retreat in U.S. Treasury yields bolstered the non-yielding metal’s appeal.

Nikkei at 1-month low as Fed's hawkish stance dulls risk appetite
Nikkei at 1-month low as Fed's hawkish stance dulls risk appetite

Japanese shares slumped on Monday, tracking Wall Street’s sharp decline over the weekend, after Federal Reserve official James Bullard...

China's First REITs make Strong Debut
China's First REITs make Strong Debut

China’s first batch of REITs debuted on Monday with strong initial gains, as the nine real estate investment trusts drew interest from...

June 18, 2021
Gold Edges Higher, but on Track for Biggest Weekly Drop Since March 2020
Gold Edges Higher, but on Track for Biggest Weekly Drop Since March 2020

Gold futures edged higher Friday, but remained on track for the biggest weekly drop since March 2020 as the U.S. dollar jumps following a more...

Oil Prices Extend Selloff as Dollar sees Post-Fed Surge
Oil Prices Extend Selloff as Dollar sees Post-Fed Surge

Oil futures were under pressure Friday for a second day, putting the U.S. and global crude benchmarks on track for weekly losses, after the dollar...


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