Economics News Results

  • U.S. consumer confidence nudges up in February

    U.S. consumer confidence edged up in February, suggesting a steady pace of consumer spending that could support the economy despite growing fears over the impact of the fast spreading coronavirus, which have roiled financial markets. The Conference Board said its consumer confidence index ticked up to a reading of 130.7 this month from a downwardly revised 130.4 in January.

  • Baltic index rises for eighth straight session

    The Baltic Exchange's main sea freight index inched higher on Tuesday, marking its eighth straight session gain, as higher rates for panamax and supramax vessels outweighed lower capesize rates. * The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 2 points, or 0.4%, to 508 points. * The capesize index fell 39 points to -278 points.

  • Mexican economy shrinks at close of 2019, extending recession

    Mexico's economy was weaker than initially estimated in the final three months of 2019, shrinking by 0.1% compared to the previous quarter, prolonging a mild recession, data from the national statistics agency showed on Tuesday. A preliminary estimate on Jan. 30 showed that when adjusted for seasonal swings, gross domestic product was flat in October-December versus the previous quarter.

  • China opens fuel export taps as coronavirus slams domestic demand

    * Feb-March exports seen well above last year -analysts. * China Q1 product surplus seen around 27 mln tonnes -CNPC. By Koustav Samanta and Muyu Xu. China has ramped up fuel exports to compensate for losses to domestic demand as it grapples with the coronavirus outbreak, having not been able to prevent a surplus in the world's second-largest oil consumer with cutbacks in its refining output.

  • FOREX-Dollar pressured by Fed rate cut expectations

    * Euro/dollar stays above $1.08. * Japanese yen get back safe-haven properties, rises slightly. * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh. By Olga Cotaga. The U.S. dollar stayed soft on Tuesday amid expectations that the Federal Reserve may cut interest rates this year to curb downside pressure on the economy caused by China's coronavirus outbreak.

  • Falling exports bring German economy to standstill in fourth quarter

    Shrinking exports held back German economic activity in the fourth quarter of last year, detailed data showed on Tuesday, confirming that Europe's largest economy stagnated on the quarter from October to December. The Federal Statistics Office said exports fell by 0.2% in the fourth quarter from the third, which meant that net trade took off 0.6 percentage points from overall economic expansion.

  • FOREX-Asian currencies arrest slide as easing expectations stall dollar

    * Virus spread beyond China drives Fed rate repricing. * Cuts, not a hike, now expected in 2020. * Dollar pauses gains against Asian currencies. * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E. By Tom Westbrook. The dollar checked its march higher on Tuesday, as investors sharply raised bets that the growing fallout from the coronavirus outbreak would prompt U.S. interest rate cuts.

  • S.Korea to test all church members at centre of coronavirus outbreak

    The number of coronavirus cases in South Korea rose to 893 on Tuesday, as health authorities said they plan to test potentially more than 200,000 members of a church at the epicentre of the outbreak.

  • S.Korea reports 60 new coronavirus cases, raising total to 893

    South Korea reported 60 new cases of the coronavirus, increasing the total number of infected patients in the country to 893, the Korea Centres for Disease Control and Prevention said on Tuesday. Of the new cases, 16 were in the southeastern city of Daegu, where a church that was at the centre of the outbreak is located, and 33 from North Gyeongsang Province, KCDC said.

  • FOREX-Rate cut expectations give pause to soaring dollar

    * Virus spread beyond China drives Fed rate repricing. * Cuts, not a hike, now expected in 2020. * Dollar pauses gains against Asian currencies. * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E. By Tom Westbrook. The dollar checked its march higher on Tuesday, as investors sharply raised bets that the growing fallout from the coronavirus outbreak would prompt U.S. interest rate cuts.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.