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US economy needs weaker dollar to fight coronavirus

US economy needs weaker dollar to fight coronavirus

The US economy is on the verge of recession. The White House is stepping up pressure on the Federal Reserve to weaken the overvalued US dollar. Lots of countries are taking measures to contain unwanted growth of national currencies. Indeed, a weaker national currency is beneficial to domestic manufacturers.
08:55 2020-03-31 UTC+00
OECD predicts global economy to suffer for years

OECD predicts global economy to suffer for years

The global economy is facing a sharp slowdown amid the rapid spread of COVID-19 causing the collapse of some industries. According to Ángel Gurría, the Secretary-General of the Organisation for Economic Co-operation and Development (OECD), it will take the economic world a couple of years to recover from the coronavirus crisis.
06:38 2020-03-31 UTC+00
Oil prices rise as US ramps up economic stimulus measures

Oil prices rise as US ramps up economic stimulus measures

As the coronavirus pandemic is cutting the demand for oil and the standoff between Saudi Arabia and Russia continues, the United States decided to step in to save the situation. Washington announced an unprecedented array of programs to backstop the economy reeling from the virus outbreak. In an effort to prevent economic devastation, the White House rolled out a $2 trillion relief package.
10:14 2020-03-30 UTC+00
World economy on verge of recession

World economy on verge of recession

The largest global financial institutions are revising their outlooks for the current year due to the coronavirus outbreak. Another gloomy forecast has been presented by the International Monetary Fund. “The economic impact is and will be severe,” IMF Managing Director Kristalina Georgieva said. This short quote from her speech accurately conveys the Fund's global growth forecast.
16:10 2020-03-27 UTC+00
RUB shows worst performance amid oil market crash

RUB shows worst performance amid oil market crash

This March, the Russian ruble became the worst-performing currency in the world, having plunged by 28.59% in a single session against the US dollar. The ruble hit a four-year low against its American counterpart as oil prices crashed overnight following the breakdown of the Russia-Saudi Arabia pact to limit production.
14:09 2020-03-27 UTC+00
Apple’s stock hit by COVID-19

Apple’s stock hit by COVID-19

The COVID-19 pandemic has already made a devastating impact on the global economy. One of the corporations which have fallen prey to the coronavirus is Apple Inc.  According to Nasdaq's official listing, the market capitalization of the iPhone maker sank below $1 trillion at the close of markets on March 23. The same was last recorded in October 2019.
14:07 2020-03-27 UTC+00
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