Economic news


Gold Climbs Friday, on Track for Modest Weekly Gain

Gold Climbs Friday, on Track for Modest Weekly Gain

Gold futures were rising early Friday, rebounding from a fall in the prior session, as bullion moved in step with hope for a U.S. coronavirus relief package in Washington that could provide a lift to buyers of bullion hedging against growing government budget deficits.


October 23, 2020
Wall St set for higher open on hopes of progress in stimulus talks
Wall St set for higher open on hopes of progress in stimulus talks

Wall Street’s main indexes were set for a higher open on Friday, with investors anticipating progress in bipartisan talks over the next...

Britain and Japan Sign Post-Brexit Trade Deal
Britain and Japan Sign Post-Brexit Trade Deal

Britain and Japan have formally signed a trade agreement, marking the UK’s first big post-Brexit deal. The deal, unveiled last month, means...

Is Europe Headed for a Fiscal Union?
Is Europe Headed for a Fiscal Union?

Amid the gloom of the pandemic’s second wave, some European enthusiasts are wondering whether this crisis might finally usher in a...

Why Optimism Could Be Unhelpful in Pandemic
Why Optimism Could Be Unhelpful in Pandemic

As humans, we have a tendency to overestimate the likelihood of experiencing positive events and underestimate the likelihood of experiencing...

3 Metrics, Disinterest from Pro Traders Hint at BTC Sell-off
3 Metrics, Disinterest from Pro Traders Hint at BTC Sell-off

For novice traders, FOMO can be a heavy burden to bear. Resisting the urge to buy Bitcoin (BTC) after a nearly 15% rally, which saw the price break...

Oil Prices on Track for Weekly Losses
Oil Prices on Track for Weekly Losses

Oil futures gained ground Friday but remained on track for weekly losses, dogged by supply concerns as output from Libya rises, along with worries...

Gilead Shares Rise after Remdesivir Approved as COVID19 Drug
Gilead Shares Rise after Remdesivir Approved as COVID19 Drug

Shares of Gilead Sciences Inc rose 6% on Friday after its antiviral drug, remdesivir, became the first and only approved treatment for COVID-19 in...

Short Queues in China, Apple's Newest iPhone 12 Hits Stores
Short Queues in China, Apple's Newest iPhone 12 Hits Stores

Two of Apple’s latest iPhone 12 models went on sale in China on Friday, after early pre-order data showed strong consumer interest in the...

More U.S. Companies Offer Earnings Guidance Despite Pandemic
More U.S. Companies Offer Earnings Guidance Despite Pandemic

With earnings season in full swing, more companies are again offering earnings guidance, signaling to investors that some corporations are adapting...

Eurozone Business Activity Shrinks Once More
Eurozone Business Activity Shrinks Once More

Economic activity in the euro zone shrunk in October as coronavirus restrictions returned to the region, preliminary data showed on Friday. The...

Investors are Unsure of US Election Outcome
Investors are Unsure of US Election Outcome

Global markets remain in narrow ranges at the end of the week, balancing hopes for a new economic stimulus package with election uncertainty. The...

Nordea Bank Shrugs off Pandemic as Profits Rise
Nordea Bank Shrugs off Pandemic as Profits Rise

Nordea Bank, the Nordic region’s biggest lender, reported a better-than-expected rise in third-quarter operating profit on Friday due to...

UK's Economic Recovery Fades in October, Pandemic Flares Up
UK's Economic Recovery Fades in October, Pandemic Flares Up

Britain’s economic recovery lost more steam this month as a resurgence of the coronavirus pandemic hit the hospitality and transport sectors...

The Storm before the Storm
The Storm before the Storm

We’ve got a really busy week coming up, just before one of the busiest weeks I can remember. There are three major central bank meetings...

Moscow Exchange to Expand Number of Foreign Shares up to 40
Moscow Exchange to Expand Number of Foreign Shares up to 40

The Moscow Exchange said on Friday it would offer access to shares and depositary receipts from an additional 20 international companies on Nov. 2,...

China’s Electric Car Strategy is Starting to Go Global
China’s Electric Car Strategy is Starting to Go Global

In a future driven by electric vehicles, China is poised to dominate if the U.S. does not transform its automobile industry in coming years. While...

European Stocks Rebound as Banks, Autos Rally
European Stocks Rebound as Banks, Autos Rally

European stocks rose on Friday, boosted by positive earnings updates from Barclays and carmakers, but nagging worries about the economic impact of...

Sterling on Way for Weekly Gain, Brexit Talks Intensify
Sterling on Way for Weekly Gain, Brexit Talks Intensify

Sterling edged up in London trading on Friday, set for a weekly gain against the dollar and euro, as Britain and the European Union entered intense...

USD Stable after U.S. Election Debate, Set for Weekly Losses
USD Stable after U.S. Election Debate, Set for Weekly Losses

The dollar was stable against most currencies on Friday after a measured U.S. presidential debate, but it was headed for weekly losses as investors...

Commodity Currencies Up in “Risk-off” Mood; Preliminary PMIs
Commodity Currencies Up in “Risk-off” Mood; Preliminary PMIs

Note:  The table above is updated before publication with the latest consensus forecasts. However, the text & charts are prepared ahead of...

Stocks Bide Time as U.S. Election Caution Sets in
Stocks Bide Time as U.S. Election Caution Sets in

Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and...

Euro Sensitivity to European Debt Sales May Irk ECB
Euro Sensitivity to European Debt Sales May Irk ECB

If Europe’s joint debt sales did lift the euro/dollar exchange rate this week, as some suspect, then the European Central Bank may struggle...

Oil Steady, Russia Shows Support for Extending Output Cuts
Oil Steady, Russia Shows Support for Extending Output Cuts

Oil prices held on to gains from the previous session on Friday, after Russian President Vladimir Putin indicated he would be prepared to extend...

Another 787,000 Americans Filed new Jobless Claims Last Week
Another 787,000 Americans Filed new Jobless Claims Last Week

New jobless claims unexpectedly dipped below 800,000 last week, but still remained historically high as hundreds of thousands of more Americans...

Virus 2nd Wave is Hitting Europe in Very Different Ways
Virus 2nd Wave is Hitting Europe in Very Different Ways

There’s no doubt that Europe is seeing a second wave of coronavirus infections, but the surge is not affecting its major economies in the...

Japan Shares Follow Wall St Higher on U.S. Stimulus Hopes
Japan Shares Follow Wall St Higher on U.S. Stimulus Hopes

Japanese shares edged higher on Friday, following a firmer finish on Wall Street, although gains were somewhat capped by weakness in semiconductor...

October 22, 2020
Wall St Edges Higher as Investors Cling to Stimulus Hopes
Wall St Edges Higher as Investors Cling to Stimulus Hopes

Wall Street’s main indexes edged higher on Thursday as investors held out for more fiscal stimulus against the backdrop of economic data...

Coca-Cola Results Beat as Sales Improve from Pandemic Lows
Coca-Cola Results Beat as Sales Improve from Pandemic Lows

Coca-Cola Co beat revenue and profit expectations on Thursday as strong "at-home" sales helped the world's largest soda maker...

Broader Dollar Decline Alerts Investors
Broader Dollar Decline Alerts Investors

Simultaneous pressure on the dollar and risk assets in the markets is continuing. Futures on S&P500 lost 3.7% from recent highs on October...

Futures Slip ahead of Jobless Claims Report
Futures Slip ahead of Jobless Claims Report

U.S. stock index futures dipped on Thursday as investors braced for high levels of weekly jobless claims while talks in Washington over a stimulus...

Here’s what Traders Expect after Bitcoin Rallied to $13,217
Here’s what Traders Expect after Bitcoin Rallied to $13,217

On Oct. 21 Bitcoin (BTC) price overtook the $13K mark to reach $13,217 after traders took out key resistance levels at $11,900, $12,000, and...

Botswana Approaches World Bank for Budgetary Support
Botswana Approaches World Bank for Budgetary Support

Botswana has approached the World Bank for budgetary support after the coronavirus crisis hurt revenue, Finance Minister Thapelo Matsheka said on...

Near Half Billion USDT Minted in Past 36h as BTC Rallies
Near Half Billion USDT Minted in Past 36h as BTC Rallies

The Tether (USDT) Treasury has minted almost half a billion new USDT tokens and distributed more than 185 million tokens to exchanges and other...

EM - Turkish Lira Flat Before C.Bank Meeting; Zloty Sinks
EM - Turkish Lira Flat Before C.Bank Meeting; Zloty Sinks

Turkey’s lira was barely moving on Thursday ahead of an expected interest rate increase by the central bank, while the Polish zloty dropped...

Sterling Holds Near New Highs as Brexit Talks Restart
Sterling Holds Near New Highs as Brexit Talks Restart

The pound slipped slightly on Thursday, but held close to six-week highs it touched on the previous day after news that stalled Brexit negotiations...

Oil Struggles to Recover after U.S. Gasoline Stocks Build
Oil Struggles to Recover after U.S. Gasoline Stocks Build

Oil prices ticked up on Thursday but struggled to fully recover from the previous session’s losses when a build in U.S. gasoline inventories...

GBP up on Brexit News, CAD Down on Lower oil
GBP up on Brexit News, CAD Down on Lower oil

Note:  The table above is updated before publication with the latest consensus forecasts. However, the text & charts are prepared ahead of...

IMF: Asia’s Economy will Shrink more in 2020 than Expected
IMF: Asia’s Economy will Shrink more in 2020 than Expected

Asia’s economic contraction this year will be worse than previously thought as several emerging markets in the region have slowed down...

Tissue Maker Essity Invests in Digital
Tissue Maker Essity Invests in Digital

Swedish hygiene products group Essity’s sales suffered again in the third quarter from the stay-at-home trend sparked by the COVID-19...

German Consumer Morale Darkens as Coronavirus Cases Soar
German Consumer Morale Darkens as Coronavirus Cases Soar

German consumer morale fell heading into November as fears about a second coronavirus wave that is hitting Europe’s biggest economy made...

Japan Shares fall on Rising Yen, U.S. Political Uncertainty
Japan Shares fall on Rising Yen, U.S. Political Uncertainty

Japanese shares fell on Thursday as a rise in the yen threatened earnings of export-focused stocks, while uncertainty ahead of the U.S....

Dollar Drifts as Markets Look for Certainty on U.S. Stimulus
Dollar Drifts as Markets Look for Certainty on U.S. Stimulus

The U.S. dollar treaded water against most major currencies on Thursday as U.S. stimulus talks remained the focus for markets with trading buffeted...


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