Economic news


Gold Heads for 4th Drop as Buck Gains Add to Bullion’s Woes

Gold Heads for 4th Drop as Buck Gains Add to Bullion’s Woes

Futures for gold on Friday headed for a fourth straight decline, putting bullion on track to notch its second losing streak of that length this month, as a sharp rise in government bond yields has undercut demand for the precious metal.


February 26, 2021
U.S. Oil Benchmark Falls from 22-Month High as Dollar Rises
U.S. Oil Benchmark Falls from 22-Month High as Dollar Rises

Oil futures saw significant pressure Friday, with the U.S. benchmark pulling back from a 22-month high, as a rise by the U.S. dollar and jitters...

Russian Rouble Pares Gains, U.S. Bond Selloff Boosts Dollar
Russian Rouble Pares Gains, U.S. Bond Selloff Boosts Dollar

The Russian rouble gave up earlier gains on Friday as oil prices slipped and the dollar firmed against most major currencies due to rising U.S....

BTC Set for Worst Week Since March, Riskier Assets Sold off
BTC Set for Worst Week Since March, Riskier Assets Sold off

Bitcoin was headed on Friday for its worst week since March as a rout in global bond markets sent yields flying and sparked a sell-off in riskier...

U.S. Consumer Spending Rebounds in January
U.S. Consumer Spending Rebounds in January

U.S. consumer spending rebounded strongly in January as the government doled out additional pandemic relief money to low-income households and new...

India's Economy Grows 0.4% y/y in Oct-Dec Quarter
India's Economy Grows 0.4% y/y in Oct-Dec Quarter

India’s economy expanded by 0.4% year-on-year in the October-December quarter, returning to growth after shrinking for two straight quarters,...

Turkish Lira Erases Year's Gains after Bond Rout
Turkish Lira Erases Year's Gains after Bond Rout

The Turkish lira slid for a fifth straight day on Friday, hit by surging U.S. bond yields that helped erase all the year’s gains and set the...

Moscow Exchange to Woo Asian Investors with Early Trading
Moscow Exchange to Woo Asian Investors with Early Trading

The Moscow Exchange aims to attract Asian investors with extended trading hours, while also betting on an increase in retail clients and corporate...

Oil Drops on Dollar Strength and OPEC+ Supply Expectations
Oil Drops on Dollar Strength and OPEC+ Supply Expectations

Oil prices fell on Friday as bond price rout led to gains in the U.S. dollar while crude supply is expected to rise in response to prices climbing...

Futures Fall as Tech Stocks Slide Again
Futures Fall as Tech Stocks Slide Again

U.S. stock index futures retreated on Friday as lofty tech stocks bled further amid elevated U.S. bond yields and prospects of a spike in inflation.

European Stocks Slip Lower, Following Global Market Dip
European Stocks Slip Lower, Following Global Market Dip

European stocks retreated slightly on Friday, after global markets were roiled by a sudden spike in bond yields that sent investors fleeing highly...

BOJ Buys ETFs for First Time this Month after Market Rout
BOJ Buys ETFs for First Time this Month after Market Rout

The Bank of Japan bought exchange-traded funds (ETFs) on Friday for the first time this month as Tokyo stock prices slumped, data showed, in a sign...

Sterling Knocked Back by Bond Rout
Sterling Knocked Back by Bond Rout

Sterling fell against a stronger dollar on Friday, retreating from a three-year high touched earlier this week, as a rout in global bond markets...

Global Surge in Bond Yields Sparks Currency “Risk-Off” Move
Global Surge in Bond Yields Sparks Currency “Risk-Off” Move

Rates as of 05:00 GMT Market Recap How things change! Yesterday the screen was all green when I woke up and I was asking for songs about green...

Euro Zone Bonds Find Some Respite after Dramatic Selloff
Euro Zone Bonds Find Some Respite after Dramatic Selloff

Euro zone government bond yields stabilised on Friday after this week’s dramatic selloff, although Germany’s benchmark yield was still...

Stocks, FX Hammered by Rising Treasury Yields; Rouble Gain
Stocks, FX Hammered by Rising Treasury Yields; Rouble Gain

Tremors from higher U.S. real yields knocked nearly 3% from emerging market stocks on Friday, setting the benchmark index for its biggest weekly...

FTSE 100 Falls as Bond Rout Hits Global Equities
FTSE 100 Falls as Bond Rout Hits Global Equities

The export-heavy FTSE 100 fell 1% on Friday as a broader sell-off in bonds spread to global equities, while British Airways owner IAG rose 2.6%...

Copper Slips; Set for Best Monthly Gain Since 2016
Copper Slips; Set for Best Monthly Gain Since 2016

Copper prices fell on Friday, as a week-long rally in base metals ran out of steam, but the metal was on track for its best month since 2016 on low...

AUD Upset by New Tumult, RBA Tries to Staunch Bond Bleeding
AUD Upset by New Tumult, RBA Tries to Staunch Bond Bleeding

The Australian dollar was sent reeling from multi-year peaks on Friday as a rout in bond markets spread to other risk assets, spurring the...

India's Zerodha Faces Investor Fury after Recent Glitch
India's Zerodha Faces Investor Fury after Recent Glitch

India’s largest brokerage Zerodha is facing a backlash from traders who saw their equity positions abruptly closed during an exchange glitch,...

February 25, 2021
Costco Lifts Minimum Wage above Amazon or Target
Costco Lifts Minimum Wage above Amazon or Target

Costco Wholesale Corp is raising the minimum wage for its hourly staff to $16 from next week, a dollar more than what its competitors Amazon.com...

Ireland Targets Return to Full Employment no Later than 2023
Ireland Targets Return to Full Employment no Later than 2023

Ireland is targeting a return to full employment, where just about everyone who wants a job has one, no later than 2023, Deputy Prime Minister Leo...

People Who Bought Bitcoin in 2017 Becoming Strongest HODLers
People Who Bought Bitcoin in 2017 Becoming Strongest HODLers

Bitcoin (BTC) may be worth almost three times more than at the height of its 2017 bull run, but a lot of hodlers from that time refuse to sell. The...

What’s Worse: Tesla at $1 Trillion or Bitcoin at $50,000
What’s Worse: Tesla at $1 Trillion or Bitcoin at $50,000

Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, on Wednesday dismissed the rocketing...

Travel Restrictions have no End as European Leaders Worries
Travel Restrictions have no End as European Leaders Worries

Looking to holiday in Greece or Spain? You could be waiting some time. European leaders are expected to say on Thursday that all non-essential...

Google, Facebook to Pay for News in Australia, New Media Law
Google, Facebook to Pay for News in Australia, New Media Law

Australia has passed a new law that will require digital platforms like Facebook and Google to pay local media outlets and publishers to link their...

Short Squeeze Boosts Air France KLM as Travel Stocks Fly
Short Squeeze Boosts Air France KLM as Travel Stocks Fly

Shares of heavily-shorted airline Air France KLM rallied as much as 10% on Thursday as early signs of easing travel restrictions lured investors to...

Gold Extends Drop Thursday as 10-Year Treasury nears 1.5%
Gold Extends Drop Thursday as 10-Year Treasury nears 1.5%

Gold futures were on track to decline for a third straight session Thursday as government bond yields extended their climb to the highest level in...

Oil Prices on Track for 4-Day Winning Streak
Oil Prices on Track for 4-Day Winning Streak

Oil futures rose Thursday, on track for a fourth straight winning session as crude tests levels last seen in January of 2020 as traders found...

GameStop Shares Surge in Premarket as Reddit Favorites Rally
GameStop Shares Surge in Premarket as Reddit Favorites Rally

Shares of GameStop climbed more than 70% in premarket trade on Thursday as heavily-shorted stocks favored by Reddit traders look set for a...

Sterling Steadies above $1.41 as Risk Currencies Gain
Sterling Steadies above $1.41 as Risk Currencies Gain

A rally in risk currencies on Thursday helped Britain’s pound steady near $1.41, a day after it hit its highest levels in nearly three years.

Stock Markets ‘Look Frothy’
Stock Markets ‘Look Frothy’

The chief executive of Standard Chartered on Thursday warned stock market valuations appear to have reached unsustainable levels amid a period of...

Eyes on ECB Speakers as Euro Bond Yields Continue Rise
Eyes on ECB Speakers as Euro Bond Yields Continue Rise

Euro zone bond yields continued their rise on Thursday, tracking U.S. Treasuries higher, as investors watch the European Central Bank for further...

Shares in Tenaris Jump on Quarterly Recovery, Upbeat Outlook
Shares in Tenaris Jump on Quarterly Recovery, Upbeat Outlook

Tenaris shares rose as much as 13% on Thursday after the Milan-listed steel pipe maker beat fourth-quarter earnings expectations and issued 2021...

Powell Comments Spark “Risk-On” Mood; Jobless Claims
Powell Comments Spark “Risk-On” Mood; Jobless Claims

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

Hong Kongers Snap up UK Homes
Hong Kongers Snap up UK Homes

Hong Kong residents are buying more houses and apartments to lease out for income in Britain, property agents say, a trend that coincides with what...

World Stocks' Dance to Continue, Inflation could Mute Music
World Stocks' Dance to Continue, Inflation could Mute Music

The bull-run in global stocks fuelled by cheap cash and reflation hopes will continue for at least another six months but a rise in bond yields as...

French Retailer Casino 2020 Operating Profits Rise
French Retailer Casino 2020 Operating Profits Rise

French retailer Casino on Thursday vowed to boost its profitability and cash flow further this year and push on with its asset disposal plan to...

World Shares Jump after Powell Nixes Rate Hike Fears
World Shares Jump after Powell Nixes Rate Hike Fears

Global stocks jumped on Thursday after U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low for a long time, calming...

Japan's Nikkei Reclaims 30K-Mark as Economic Optimism Swells
Japan's Nikkei Reclaims 30K-Mark as Economic Optimism Swells

Japan’s Nikkei index closed above the 30,000-mark on Thursday after Federal Reserve Chair Jerome Powell views signalled that interest rates...

Copper Eyes 10-Year High, U.S. Fed Reaffirms Policy Support
Copper Eyes 10-Year High, U.S. Fed Reaffirms Policy Support

Shanghai copper prices leaped to a near 10-year high on Thursday, while other base metals also gained as the U.S. Federal Reserve reaffirmed its...

Biden to Press for $37B to Boost Chip Output amid Shortfall
Biden to Press for $37B to Boost Chip Output amid Shortfall

President Joe Biden said on Wednesday he would seek $37 billion in funding for legislation to supercharge chip manufacturing in the United States...

USD Languishes near 3-Year Lows as Fed Stokes Reflation Bets
USD Languishes near 3-Year Lows as Fed Stokes Reflation Bets

The safe-haven U.S. dollar languished near three-year lows versus riskier currencies on Thursday as continued dovish signals from the Federal...


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