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Global Economy

23 August 10:23 PM Oil settles lower on Friday  
​​​​​​​Mubasher: Oil future levelled down at Friday’s close, as China took retaliatory trade measures against the US.
23 August 10:13 PM Gold surges at Friday’s finish   
Mubasher: Gold soared at Friday’s settlement, rising 0.9% for the week.
23 August 09:12 PM EU may launch $110bn SWF to support European tech firms
Mubasher: EU officials are reportedly proposing a plan to launch a $110 billion sovereign wealth fund (SWF) to invest in European tech companies.
23 August 06:26 PM Powell blames global uncertainty on Trump's trade wars
Mubasher: Federal Reserve Chairman Jerome Powell on Friday offered no clear hint about further rate cuts.
23 August 05:58 PM Huawei projects US curbs to slash smartphone sales by $10bn
Mubasher: Huawei expects US restrictions to eat into its annual consumer devices revenue by nearly $10 billion, Reuters reported.
23 August 05:17 PM US new house sales drop in July
Mubasher: Sales of new houses in the US dropped in July after June’s upturn, in a sign of the embattled housing market.
23 August 04:58 PM Sterling could gain appeal if dropped to $1.17–Report
Mubasher: The sterling pound's sudden spike led some to believe that the UK currency is close to a point where alue-seeking investors are waiting.
23 August 04:18 PM China slaps retaliatory tariffs on $75bn US imports
Mubasher: China unveiled that it will levy additional tariffs on $75 billion worth of US products, responding to President Donald Trump's latest announcement of duties.
23 August 03:45 PM Trump’s new tariffs to knock China’s growth below 6%-Survey
Mubasher: The threatened tariffs would hamper the growth of the world’s second biggest economy to the the slowest rate since 1990.
23 August 02:56 PM US fines Deutsche Bank $16m on overseas corruption charges
Mubasher: Deutsche Bank will settle with a US regulator over allegations of breaching US corruption laws by hiring relatives of overseas government officials.
23 August 02:29 PM Apple to debut 3 new iPhones in 2019
Mubasher: Apple would announce three new iPhones at an event next month.
23 August 12:42 PM Eurozone bond yields advance to 1-week peak before Powell’s speech
Mubasher: Eurozone bond yields advanced on Friday to more than one-week high, as investors scaled back their expectations for an aggressive monetary easing policy.
23 August 12:14 PM European share markets edge higher ahead of Fed chief’s speech
Mubasher: European stocks edged higher on Friday, amid focus on a speech to be delivered by Federal Reserve Chair Jerome Powell later in the day.
23 August 11:58 AM Gold edges down amid anticipations for Fed head’s speech
Mubasher: Gold prices declined on Friday, hovering near the key $1,500 per ounce level, against a backdrop of trade uncertainties, according to Reuters.
23 August 11:33 AM Oil edges up early Friday ahead of Powell’s speech
Mubasher: Oil pared the prior session's losses on Friday, as a supply-tightening push by the world’s key producers mitigated the impact of tepid demand growth.
23 August 10:39 AM Japan’s inflation remains unchanged in July
Mubasher: Japan's underlying consumer prices continued to grow at the same momentum in July, remaining far from the Bank of Japan's target.
22 August 10:56 PM Oil prices decline at Thursday’s finish
Mubasher: Oil future settles lower on Thursday, as US natural gas stockpiles rose.
22 August 09:53 PM Gold ends lower on Thursday  
Mubasher: Gold went down at Thursday’s close, marking the lowest level since 9 August.
22 August 07:22 PM UK pound hits 3-week high on Merkel’s Brexit remarks
Mubasher: German Chancellor Angela Merkel suggested that a resolution to the Brexit stalemate could be reached within 30 days.
22 August 06:26 PM Fed’s July rate cuts seen unrequired–Kansas City bank’s head
Mubasher: Federal Reserve Bank of Kansas City President Esther George views the central bank’s decision to cut rates last month as unnecessary.
22 August 05:56 PM IMF warns C.banks against rate cuts, currency interventions
Mubasher: The International Monetary Fund warned central banks against counting too heavily on relaxing their monetary policy, in efforts to support their economies.
22 August 05:33 PM US natural gas storage grows; futures rise
Mubasher: The US natural gas storage climbed by 59 billion cubic feet in the week ended 16 August, recording a total of 2,797 Bcf.
22 August 04:36 PM China vows to retaliate against any fresh US tariffs
Mubasher: China hopes that the US will stop its wrongful tariff moves, warning that any new levies could end up in more escalation.
22 August 03:43 PM US jobless claims fall in mid-August
Mubasher: The number of unemployed individuals applying for benefits dropped last week, weekly official figures showed on Thursday.
22 August 03:33 PM ECB weighs stimulus bundle to counter slowdown –minutes
Mubasher: European Central Bank policymakers voiced their worries that growth eased more than previously thought.