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Oil gained more than 1% on Tuesday as the U.S. energy forecasting agency said that shale output would have a record decline in April, adding to production cuts agreed between other major oil producers. Brent futures gained 1.7%, or 53 cents, ...
The dollar fell on Tuesday while risk currencies rallied after China’s trade data showed a more optimistic view than anticipated. The coronavirus death toll slowdown brought hopes to investors that the pandemic may be over soon. Yuan-denominated ...
Britain’s gross domestic product (GDP) is expected to contract by up to 30%, according to Finance Minister Rishi Sunak. The forecast was disclosed to his colleagues as members of the cabinet demanded to ease lockdown restrictions amid ...
Several analysts expect that Indonesia’s central bank is likely to retain its policy rates on Tuesday, as its currency and capital markets strive to gain momentum amid disruptions brought by the coronavirus pandemic. Fifteen out of 28 ...
Saudi Arabia’s King Salman, U.S. President Donald Trump, and Russia’s President Vladimir Putin expressed their “great satisfaction” on the outcome of the OPEC+ meeting during a conference call, Saudi Press Agency (SPA) ...
Canada formally welcomed a deal finalized by OPEC on Sunday. Canada and other oil producing nations will cut production by nearly 10 Million barrels per day for the month of May to June. “This is good. We welcome any news that brings ...
Oil prices climbed above $1 per barrel on Monday after a four-day negotiation ended with major producers agreeing on a record output cut. However, gains were limited after investors feared that the move might not be enough to stave off oversupply ...
Commodity currencies fell against their safe-haven counterparts on Monday after a record output cut settled upon by OPEC+ did not ease investor concerns over a declining global demand. The Australian Dollar and the New Zealand Dollar, widely ...
The recovery of the U.S. economy from the impact of the coronavirus outbreak may be a “long, hard road,” according to Minneapolis Federal Bank Reserve President Neel Kashkari on Sunday. Some sectors of the economy may have to shut ...
The agreement to cut production between the world’s oil producers may support stocks to recover losses. However, lockdowns and other restrictions remain pressing to the global economy. OPEC and its allies including Russia agreed to slash ...
Oil prices recovered on Monday as optimism grew that OPEC members and allied oil manufacturers will settle a deal on Thursday. The agreement will mandate oil producers to reduce crude production in order to offset suffering prices due to the ...
The Bank of Japan said on Wednesday that it would temporarily cease select operations. The decision was made in compliance to the government’s pronouncement of putting the country under state of emergency amid the novel coronavirus pandemic. “The ...
South Korea’s household loans increased last month based on data shown by financial authorities on Wednesday. Credit loans for mortgages and stock investments outside Seoul surged after the government launched new property regulations. Bank ...
European shares lost its two-day gain streak after Spain reported a rising number of COVID-19 deaths and France became the fourth country to have a death toll above 10,000. Britain’s leading retailer Tesco plunged by 7% to the bottom ...
The dollar rose on Wednesday as the market turned to safe-havens, reversing risk currency gains after investors hoped the crisis in Europe and New York was slowing down. The dollar gained against major currencies except for the safe-haven ...
Amazon.com Inc (AMZN.O) will suspend its shipping services in major U.S. cities on Wednesday. Amazon Shipping carries non-Amazon and Amazon marketplace packages. Amazon is suspending this particular service which was set up to compete with ...
Gold prices fell marginally on Wednesday morning in Asia as the COVID-19 pandemic continued to cause economic turbulence. Gold futures fell by 0.22% at $1,680 per ounce by 9:33 PM ET (2:33 AM GMT), extending losses from the previous session. ...
Asian stocks fell on Wednesday, ending two sessions of consecutive gains as the death toll of coronavirus rose around the world. Investors were rattled as mainland China’s new coronavirus cases doubled in 24 hours due to overseas travellers. In ...
Samsung Electronics Co Ltd (005930.KS) disclosed on Tuesday that its first-quarter operating profit inched up to 3%, surpassing analysts’ expectations as chip sales nursed the impact of the coronavirus contagion on smartphones and televisions. Samsung ...
Private equity companies Silver Lake and Sixth Street Partners will invest $1 billion to Airbnb on Monday. There were other 20 investors that also approached Airbnb about investing in the company. The debt and equity investment sum up Airbnb’s ...
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