Economic news


Copper Hits Two-Year Peak on Speculative Buying, China Hopes

Copper Hits Two-Year Peak on Speculative Buying, China Hopes

Copper touched its highest in more than two years on Friday as speculators extended their buying spree on a recovery in top metals consumer China while the dollar weakened.


September 18, 2020
Oil Pulls Back, But on Track for Big Weekly Gains
Oil Pulls Back, But on Track for Big Weekly Gains

Oil futures pulled back Friday, but remained on track for big weekly gains after jumping in the previous session as Saudi Arabia’s energy...

U.S. Current Account Deficit Surges 52.9% in Second Quarter
U.S. Current Account Deficit Surges 52.9% in Second Quarter

The U.S. current account deficit soared to its highest level in nearly 12 years in the second quarter as the COVID-19 pandemic weighed on the...

Gold Trades Higher for Day, Poised for Modest Weekly Gain
Gold Trades Higher for Day, Poised for Modest Weekly Gain

Gold futures edged up Friday morning and looked likely to post a weekly gain but the metal has thus far failed to score a big boost from Federal...

Dave & Buster’s Stock Plunges 26% on Bankruptcy Fears
Dave & Buster’s Stock Plunges 26% on Bankruptcy Fears

Dave & Buster’s Inc. shares plunged 26.1% in Thursday trading after investors grew nervous about the possibility of the entertainment...

$65 Billion Cash Mystery Puzzles Britain's Audit Office
$65 Billion Cash Mystery Puzzles Britain's Audit Office

As cash declines in day-to-day transactions, Britain’s National Audit Office has uncovered a mystery: the number of pound notes in...

Jack Ma's Ant Group Wins Shanghai OK for Launch of Dual IPO
Jack Ma's Ant Group Wins Shanghai OK for Launch of Dual IPO

China’s Ant Group has received approval from the Shanghai Stock Exchange for a domestic initial public offering, the bourse said on Friday,...

Nasdaq Futures Bounce as Tech Selloff Eases
Nasdaq Futures Bounce as Tech Selloff Eases

Futures tracking the Nasdaq 100 index rose on Friday as a two-day selloff in technology-related stocks halted, while worries about rising...

ByteDance Plans TikTok IPO to Win U.S. Deal, Deadline Looms
ByteDance Plans TikTok IPO to Win U.S. Deal, Deadline Looms

China’s ByteDance is planning a U.S. initial public offering of TikTok Global, the new company that will operate the popular short video app,...

Wall St Strategist Pops Stock Market Bubble Fears Until 2022
Wall St Strategist Pops Stock Market Bubble Fears Until 2022

The Federal Reserve’s average inflation policy and the threat of an asset bubble aren’t moving the stock market. It shows that...

U.K. Refuses to Rule Out New Lockdown as Covid Surges Again
U.K. Refuses to Rule Out New Lockdown as Covid Surges Again

Health Secretary Matt Hancock declined to rule out a second national lockdown and said the acceleration of coronavirus cases and hospital...

Ethereum Miner Revenue Hits 5 Year High
Ethereum Miner Revenue Hits 5 Year High

Ethereum miners’ hourly revenue has hit a five-year record, with fees currently bringing in 2,275 ETH ($880K) per hour. The spike was...

Travel Stocks Weigh on Europe as Coronavirus Cases Pick Up
Travel Stocks Weigh on Europe as Coronavirus Cases Pick Up

European stocks struggled for momentum on Friday, with travel and bank stocks falling as a resurgence in coronavirus cases across the continent...

Futures Flat After Tech Rout Drags Down Wall Street
Futures Flat After Tech Rout Drags Down Wall Street

Stock futures hovered near breakeven in Thursday evening’s after hours trading, following a volatile session that saw big tech stocks sell...

Strong Retail Sales Data Helps Sterling Regain Some Ground
Strong Retail Sales Data Helps Sterling Regain Some Ground

Sterling edged slightly higher against the euro and the dollar on Friday as data showed that British shoppers continued to increase spending last...

Oil Rises After OPEC Warns Members to Stick to Quotas
Oil Rises After OPEC Warns Members to Stick to Quotas

Oil prices rose for a fourth day in a row on Friday, putting crude on track for a weekly gain of about 10%, after Saudi Arabia pressed allies to...

Ericsson to Buy Firm Cradlepoint in $1.1 Billion Deal
Ericsson to Buy Firm Cradlepoint in $1.1 Billion Deal

Ericsson has agreed to buy U.S.-based wireless networking company Cradlepoint in a $1.1 billion deal, the Swedish telecoms gear maker said on...

LSE Picks Euronext's Borsa Italiana Bid for Exclusive Talks
LSE Picks Euronext's Borsa Italiana Bid for Exclusive Talks

London Stock Exchange entered exclusive talks on Friday to sell Borsa Italiana to France's Euronext, seeing off competing bids from Deutsche...

Dollar Extends Losses; Kiwi Dollar Hits 18-Month High
Dollar Extends Losses; Kiwi Dollar Hits 18-Month High

The dollar extended overnight losses on Friday after data on Thursday pointed to a slowdown in the U.S. economic recovery, while riskier currencies...

USD Down on Fed Failure to YCC; NZD up on Optimistic Fin Min
USD Down on Fed Failure to YCC; NZD up on Optimistic Fin Min

Rates as of 04:00 GMT Market Recap Right for the wrong reason: I thought the Fed’s decision was dovish – it effectively implied that...

AUD, NZD Slightly Firmer, Post Weekly Gains
AUD, NZD Slightly Firmer, Post Weekly Gains

The Australian dollar held its head above 73 U.S. cents while its New Zealand counterpart was on track for its sixth straight session of gains on...

UK Retail Sales Rise Further Above Pre-COVID Levels
UK Retail Sales Rise Further Above Pre-COVID Levels

British shoppers continued to increase spending last month, taking sales further above pre-COVID levels, as strong online demand helped much of the...

Dollar Set for Weekly Loss as Economic Confidence Sags
Dollar Set for Weekly Loss as Economic Confidence Sags

The dollar held tight ranges on Friday but was set for a weekly loss against major counterparts after downbeat data cast a shadow over the economic...

Stocks Rally but Lacklustre Without Fresh Stimulus
Stocks Rally but Lacklustre Without Fresh Stimulus

Asian stocks inched up on Friday but lingering disappointment that central banks merely affirmed their monetary support this week, while not...

European Stocks Skid from 1-Month High as Fed Underwhelms
European Stocks Skid from 1-Month High as Fed Underwhelms

European stocks fell from a one-month closing high on Thursday after an underwhelming response to the U.S. Federal Reserve’s pledge to keep...

September 17, 2020
Tech Sell-off Hits Wall Street as Jobless Claims Remain High
Tech Sell-off Hits Wall Street as Jobless Claims Remain High

Wall Street's main indexes fell on Thursday after data showed high levels of weekly jobless claims, while technology-related stocks resumed...

U.S. Labour Market Recovery Stalling
U.S. Labour Market Recovery Stalling

The number of Americans filing new claims for unemployment benefits fell less than expected last week and applications for the prior period were...

Oil Rises, OPEC+ Stresses Full Compliance with Output Quotas
Oil Rises, OPEC+ Stresses Full Compliance with Output Quotas

Oil futures climbed on Thursday, getting a boost as the Organization of the Petroleum Exporting Countries and its allies stressed the importance of...

Gold Prices Tumble by 1% as Traders React to Fed Policy
Gold Prices Tumble by 1% as Traders React to Fed Policy

Gold futures headed lower Thursday as commodity investors reacted to the monetary policy statement from the Federal Reserve which indicated it...

Pound Holds just Below $1.30 Before Bank of England Meeting
Pound Holds just Below $1.30 Before Bank of England Meeting

The pound held steady on Thursday, little changed versus the dollar and slightly up against the euro, as investors waited for the Bank of...

U.S. Debt Will Easily Surpass $30Tn by Middle of Decade
U.S. Debt Will Easily Surpass $30Tn by Middle of Decade

The U.S. government is awash in debt and red ink — and neither President Donald Trump or his Democratic challenger appear bothered by the...

BTC Sentiment at Record Lows… Does it Mean Price Will Go Up?
BTC Sentiment at Record Lows… Does it Mean Price Will Go Up?

Social media sentiment for Bitcoin has slumped to a two-year low, yet technical indicators are still saying “buy.” A number of metrics...

Germany Pushes up 2021 Debt Plans to Around 100B Euros
Germany Pushes up 2021 Debt Plans to Around 100B Euros

German Finance Minister Olaf Scholz plans to take on net new debt of around 100 billion euros ($117.92 billion) next year to sustain Berlin’s...

Uber Plans to Sell Part of Stake in China's Didi - Bloomberg
Uber Plans to Sell Part of Stake in China's Didi - Bloomberg

Uber Technologies Inc is planning to sell part of its $6.3 billion stake in Chinese ride-hailing firm Didi Chuxing to raise cash, Bloomberg...

European Stocks Fall as Traders React to Fed Decision
European Stocks Fall as Traders React to Fed Decision

European stocks slumped and U.S. stock futures weakened on Thursday, with traders in Europe getting their first chance to react to the Federal...

European Car Sales Tumble in August
European Car Sales Tumble in August

Shares of European auto makers pitched lower on Thursday after data revealed a sharp fall in car sales for the region during August.

Indonesia C.Bank Holds Rates to Underpin Rupiah
Indonesia C.Bank Holds Rates to Underpin Rupiah

Indonesia’s central bank held its key interest rate unchanged on Thursday to keep the rupiah currency stable, as the governor stressed that...

China Still Far from Playing Leading Role on Global Stage
China Still Far from Playing Leading Role on Global Stage

The U.S. is still globally dominant in many areas including finance and technology — but it’s not clear if the world’s largest...

London Stocks Drop Ahead of BoE Meeting on Fed Disappoints
London Stocks Drop Ahead of BoE Meeting on Fed Disappoints

London-listed shares tracked declines in Asian stock markets on Thursday as the lack of new stimulus measures by the U.S. Federal Reserve dulled...

USD Stronger after FOMC Comes in, Expected; Bank of England
USD Stronger after FOMC Comes in, Expected; Bank of England

Rates as of 04:00 GMT Market Recap I have to admit, I’m confused by the market’s response to the Fed statement. On the one hand, it was...

Europe on High Alert as Coronavirus Cases Rise
Europe on High Alert as Coronavirus Cases Rise

There are growing concerns in Europe at what is being seen as an alarming rise in coronavirus cases, with the number of new daily infections...

Fed gave a helping hand to the dollar but for how long?
Fed gave a helping hand to the dollar but for how long?

In the wake of the FOMC meeting last night, dollar purchases increased in the markets, and stock indices began to fall. EURUSD was briefly below...

The Musk Method: Learn from Partners then Go it Alone
The Musk Method: Learn from Partners then Go it Alone

Elon Musk is hailed as an innovator and disruptor who went from knowing next to nothing about building cars to running the world’s most...


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