Economic Report

The dollar headed for its worst week since September, while other risk-friendly assets from bitcoin to the Australian dollar maintained their recent gains buoyed by easing concerns about the severity of the new COVID-19 mutation. MSCI’s Asia Pacific shares outside Japan rose 0.2%, and Japan’s Nikkei rose 0.1% after the …

The US is suffering from its highest inflation wave in 40 years according to newly released federal economic figures. For anyone hoping there would be an end to the exorbitant climb in prices before year-end, this was a disappointment. But it could be the peak.The Bureau of Economic Analysis released …

The US economy grew faster than expected in the third quarter of 2021 at 2.3%, up from an estimate of 2.1%.  The third-quarter growth in America’s total output in goods and services significantly slowed from the first two quarters where growth soared to 6.3% and 6.7% respectively. GDP growth is …

The dollar rose on Wednesday, while the euro and riskier currencies such as the Australian dollar fell as traders braced for more volatility as well as the consequences of increased infections with the Omicron coronavirus. The Turkish lira stabilized and maintained its recent gains amid highly volatile currency trading this …

WTI crude oil battles monthly resistance line after rising the most in over two weeks. The oil benchmark retreats to USD 71.22 during early Wednesday morning in Asia.Crude oil benefited from the market’s optimism to overcome the virus-related fears. Though, the weekly industry inventory report by the American Petroleum Institute …

RBA will publish its December policy meeting minutes on Tuesday. The minutes are expected to offer more detail on the discussion on bonds buying and the timeline for rate hikes.RBA officials argue a rate rise is unlikely until at least 2023, but markets are betting on a move as early …

Currencies including the Australian dollar and the British pound fell on Monday amid fears that further restrictions may be imposed in Europe to contain the mutated Omicron from the coronavirus. Investors shifted their focus to the potential impact of the rapid spread of the new mutation after the Netherlands imposed …

It has been a big week for a number of major central banks worldwide. Central banks continuing to raise interest rates in an effort to tame inflation, largely dismissing for now the threat to economic growth posed by the spread of the Omicron variant. On ‘Super Thursday’ for central banks, …

Gold futures climbed back above the $1,800 mark on Friday to post their highest settlement in nearly four weeks. The precious metal’s rise above the key $1,800 level appears to be driven by broad capital flows leaving risk markets and moving into defensive havens such as gold. Gold (XAU/USD) advances …

The dollar remained under pressure on Friday at the end of a week in which major central banks revealed plans to halt their pandemic-era stimulus as the Bank of England surprised markets with an interest rate hike. After a turbulent week, the dollar index, which measures its price against a …