Oil prices rose on Thursday on optimism about U.S and European economic recoveries and expectations OPEC and its allies will keep production curbs in place.
Global equity benchmarks and oil prices rose while US Treasury bonds dipped on Wednesday as investors weighed the likelihood of further US stimulus under the incoming Biden administration against worsening coronavirus outbreaks in China and the
Investors shrugged off US President Donald Trump’s second impeachment and focused instead on reports that his successor, Joe Biden, will lay out a new US $2 trillion stimulus programme later.
World shares picked up Wednesday on positive economic data in Europe and as investors looked to a second day of testimony by Federal Reserve Chair Jerome Powell for his outlook on economic stimulus.
Global stock markets jumped on Wednesday after the release of more upbeat data about the COVID-19 vaccine being developed by Pfizer and BioNTech. Traders have this month been encouraged by announcements of progress toward possible vaccines and on Wednesday
The dollar traded at $1.1656 per euro on Thursday, just shy of a two-month high reached on Wednesday. The greenback held near a nine-week high against the Swiss franc at 0.9236, and also held on to gains made in the previous session against the Japanese currency, to stand at 105.45 yen.
The global economy is showing signs of bouncing back from the severe downturn caused by the global coronavirus pandemic, but a full recovery is “unlikely” without a vaccine, IMF chief Kristalina Georgieva said on Wednesday.
The bonfire of good ideas lit by Boris Johnson’s government just keeps on getting fuelled. The latest to be thrown on the flames: a leaked Department of Health paper suggesting everyone testing positive for coronavirus in England be paid £500 to help
European Central Bank President Christine Lagarde pushed back against pessimism on Wednesday, predicting an economic rebound as COVID-19 uncertainty subsides and saying that Europe has all the tools needed to overcome the crisis.
The World Bank has predicted that more countries will come under ‘deep debt distress’ this year as the coronavirus pandemic situation worsens. Chad and several other countries are already in ‘deep debt distress’ and more will join their ranks this year, given the severity