US investment bank Goldman Sachs lowered its forecast for China’s oil demand in the next two months, citing mounting concerns about the impact of the next wave of COVID-19 infections. The US bank, which already trimmed its forecast last month for emerging market demand due to the delta mutant strain, …

The US dollar settled at a level slightly less than this year’s peak against the euro and touched a five-week peak against the yen before US inflation data, with a high inflation rate likely to pressure the Federal Reserve to reduce stimulus policies. The dollar received a boost from strong …

Auto sales in China declined by 11.9% in July, compared to the same month last year. Data from the China Automobile Manufacturers Association revealed that total sales in the world’s largest auto market amounted to 1.86 million vehicles in July. Sales of new energy vehicles, including battery-electric cars, gasoline-electric hybrid …

The US Labor Department said on Tuesday that labor productivity growth in the United States slowed in the second quarter, while labor costs were much weaker than expected in the first quarter. Non-farm productivity, which measures hourly output per worker, rose 2.3% on-year in the past quarter. The data for …

Gold prices rose, as fears of a rise in covid-19 cases with the mutated strain of the Coronavirus outweighed pressures from the rise in the dollar and bond yields, while investors awaited inflation data in the United States due to being released later today. Spot gold rose 0.2% to $1,732.61 …

The US Senate set a vote on Tuesday on passing a bipartisan $1 trillion infrastructure bill that is one of President Joe Biden’s top priorities and then will immediately begin debating a far-reaching $3.5 trillion bill. In this regard, Senate Majority Leader Chuck Schumer announced late Monday that a week-long …

The dollar hit a four-month high against the single European currency on Tuesday after strong US jobs data boosted expectations that the Federal Reserve will begin to scale back its massive asset purchase program. Analysts said that the dollar could be supported by higher US bond yields as the likelihood …

Oil prices rose more than one percent, offsetting some of the losses incurred in the previous session when prices hit their lowest level in three weeks, but the gains were likely limited by fears that the rise in Covid-19 cases and the imposition of restrictions in China will negatively affect …

The German ZEW headline numbers for August showed that the Economic Sentiment Index dropped more than expected to 40.4 from 63.3 previous while missing estimates of 56.7. Meanwhile, the Current Conditions sub-index slipped to 29.3. in August as against 21.9 recorded in the previous month and 30.0 expectations.

European shares hit a record high Tuesday, August 10, extending gains for the seventh consecutive session, boosted by travel and leisure companies as investors welcomed reports of strong results. The STOXX 600 index of European shares rose 0.2%, hitting an all-time high of 471.67 points. The travel and entertainment sector …