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Market Analysis

November, 2021

  • 24 November 2021 2:23 am

    Oil Prices Surge Despite Tapping US SPR

    Oil futures rose sharply Tuesday after the Biden administration announced a coordinated, US-led effort by energy consuming countries to release strategic crude reserves.The coordinated move had been well-telegraphed. News reports speculating on potential releases from the Strategic Petroleum Reserve and talk of a coordinated effort, lately joined by India, and …

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  • 24 November 2021 1:21 am

    The US Dollar Witnesses A Real Rally

    The US dollar extended its gains, reaching fresh 2021 highs vs the EUR and the GBP. EUR/USD bottomed for the day at 1.1225, while GBP/USD fell to 1.3341. The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven dollar.Bank of England governor Andrew Bailey …

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  • 24 November 2021 12:15 am

    BoC Raises Concerns Over Inflation

    Canadians high household debt levels are becoming a persistent concern despite the massive fiscal support offered by the federal government during the COVID-19 pandemic according to statements by a senior Bank of Canada official, Tuesday.Deputy Governor Paul Beaudry said the prevalence of highly indebted households, which are defined as those …

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  • 24 November 2021 12:00 am

    EUR/USD Opens Risk To 1.1000, FOMC Minutes Eyed

    FOMC minutes

    On Tuesday, the EUR/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. …

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  • 23 November 2021 11:16 pm

    U.K. Flash PMI Reflects Sustained Robust Output And Jobs Growth

    Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …

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  • 23 November 2021 10:58 pm

    Treasury Yields Higher As Fed Expected To Act On Inflation

    US Treasury yields edged higher in uneven trading in a holiday-shortened week on Tuesday as investors prepared for the Federal Reserve to become more aggressive in fighting inflation after Biden nominated its chair Jerome Powell for a second term. The yield on 10-year Treasury notes was up 3.1 basis points …

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  • 23 November 2021 9:02 pm

    Haskel: BofE Should Be Watchful On Labour Costs

    Policymaker Jonathan Haskel indicated, Tuesday, that the Bank of England needs to be watchful about rising labour costs as a tight job market means wages might rise faster than productivity and put upward pressure on inflation.BoE Governor Andrew Bailey says interest rates are likely to rise and investors see a …

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  • 23 November 2021 8:43 pm

    French fishermen Threaten Action Amid Stalling Brexit Talks

    French fishermen are planning actions, including possibly blocking British vessels’ access to French ports, in protest against Britain’s refusal to grant them more licenses to operate in UK territorial waters, fishermen said on Tuesday.France and Britain have been at loggerheads for months over how many licenses French fishermen should get …

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  • 23 November 2021 8:05 pm

    US Factory Activity Growth Kept Pace in November

    Manufacturing activity in the central Atlantic region of the U.S. surged in November at broadly the same pace as in October, according to a survey compiled by the Federal Reserve Bank of Richmond released Tuesday.The Fifth District Survey of Manufacturing Activity’s composite index in November is 11, down from 12 …

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  • 23 November 2021 7:46 pm

    Biden to Address State of US Economy

    Americans await a new address by President Joe Biden on the state of the US economy. Biden’s speech comes as prices soar 6.2% over the past 12 months.54% of Americans say cost of groceries and gas is a major crisis. Biden to release 50m barrels of reserve oil in effort …

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  • 23 November 2021 7:37 pm

    PMI Survey: US Economic Growth Slowed Slightly in November,

    US private sector growth remained robust in November, although losing some pace as activity slowed among services providers, according to a survey of purchasing managers.The flash US composite output index decreased to 56.5 in November from 57.6 in October, a two-month low, according to data from IHS Markit released Tuesday. …

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  • 23 November 2021 6:26 pm

    Market Drivers – European Session 23-11-2021

    The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …

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  • 23 November 2021 5:43 pm

    Biden to Release Oil Reserves to Combat High Gas Prices

    The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …

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