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Global Economy

19 June 11:25 PM Lower US stockpiles pressure oil at Wednesday’s finish
Mubasher: Oil futures ended in the red territory on Wednesday, as US data showed lower crude oil inventories.
19 June 09:49 PM Gold levels down at Wednesday’s settlement
Mubasher: Gold ended lower on Wednesday after Fed decided to maintain interest rates.
19 June 09:35 PM Fed holds interest rates, pledges to closely monitor economy
Mubasher: The United States Federal Reserve Open Market Committee (FOMC) has decided to maintain interest rates in the range of 2.25% to 2.5%.
19 June 07:00 PM US considers sanctions against Turkey over S-400 missile deal– Report
Mubasher: The US administration was weighing three various rounds of sanctions against Turkey over Ankara’s purchase of Russian missile defence systems, Bloomberg reported.
19 June 05:54 PM Harley-Davidson to make smaller bikes in China
Mubasher: Harley-Davidson agreed with Geely majority-owned Qianjiang to manufacture a new smaller model bicycle, according to Reuters. The US giant chose Qianjiang, citing its experience
19 June 05:37 PM US oil stockpiles drop 3.1m barrels in June’s second week
Mubasher: US crude oil stockpiles dropped by 3.1 million barrels to 482.4 million barrels in the week ended 14 June, the Energy Information Administration said.
19 June 05:01 PM OPEC to hold policy meeting in early July
Mubasher: The Organization of the Petroleum Exporting Countries announced that its members and allies would hold their meeting on 1 and 2 July.
19 June 03:52 PM Infor launches new app to optimise hoteliers’ pricing decisions
Mubasher: Enterprise software giant Infor on Wednesday announced that it would offer this summer an application that will help better pricing decision for hoteliers.
19 June 03:27 PM Apple weighs shifting 15%-30% of output capacity from China–Report
Mubasher: Apple asked its key suppliers to assess the cost implications of moving 15% to 30% of their production capacity to Southeast Asia.
19 June 03:14 PM UK factory orders drop in June as auto production falters
Mubasher: New UK factory orders dipped amidst stoppages in auto manufacturing, due to uncertainty about when the country would separate from the European Union.
19 June 01:13 PM UK house price growth posts more slowdown in April
Mubasher: Annual house prices in the UK grew slower during April, a joint statement by the Office for National Statistics and the Land Registry said.
19 June 12:38 PM Gold slips on US-Sino trade deal optimism, dovish ECB
Mubasher: Gold dipped on Wednesday amid re-kindled hopes of a trade deal between the US and China and dovish signals from the European Central Bank.
19 June 12:11 PM UK output prices grow slightly slower in May
Mubasher: Producer price index (PPI) for the goods leaving UK factories recorded 1.8% in the year ended May, down from 2.1% compared with the year.
19 June 11:59 AM Eurozone current account surplus shrinks in April
Mubasher: The Eurozone’s current account surplus contracted in April compared with March, while posting a year-on-year drop over the 12-month period ended the reported month.
19 June 11:38 AM Oil rises amid US-Sino trade deal prospects, dovish ECB signals
Mubasher: Oil futures saw gains on Wednesday, buttressed by re-ignited hopes for a trade pact between the US and China.
19 June 11:38 AM UK consumer inflation slows down slightly in May
Mubasher: The UK’s consumer price index (CPI), the headline gauge for the country’s inflation, ticked down to 2% year-on-year in May, from 2.1% in April.
19 June 10:47 AM Japanese exports post sixth monthly drop in May
Mubasher: Japanese exports continued to drop for the sixth month in a row, as China-bound shipments faltered, indicating pressure from slowing external demand.
18 June 11:36 PM Tweet on US-China trade talks boosts oil at Tuesday’s finish
Mubasher: Oil futures climbed at Tuesday’s settlement, the highest front-month contract close since 7 June.
18 June 10:23 PM Gold ends higher on Tuesday
Mubasher: Gold went up at Tuesday’s settlement, marking the highest level since 18 April.
18 June 06:04 PM US, China officials to restart trade talks before G20–Trump
Mubasher: President Donald Trump on Tuesday said that US and Chinese officials would restart trade negotiations.
18 June 05:32 PM Facebook confirms new crypto debut in 2020
Mubasher: Facebook unveiled plans for its new global cryptocurrency, to be released next year.
18 June 04:12 PM UK fintech Finastra names new CFO
Mubasher: Banking technology giant Finastra on Tuesday announced the appointment of Mark Miller, a seasoned executive, as its CFO, effective from 13 May.
18 June 03:44 PM US private housing starts decline 0.6% in May
Mubasher: The US Census Bureau, the US Department of Housing, the Urban Development on Tuesday jointly issued residential construction statistics for last May.
18 June 03:27 PM German investment morale drops on soft economic figures, external risks
Mubasher: Sentiment among German investors took a sharp turn downward during June, amidst recent weak economic figures and a blazing US-Sino trade dispute.
18 June 03:25 PM China’s US Treasuries holdings drop to 2-yr trough in April
Mubasher: China's holdings of US Treasury bonds and notes fell to the lowest level since May 2017.