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Market Analysis

August, 2021

  • 27 August 2021 12:18 pm

    Warnings of Storm Ida and some oil Producer Stop Their Business

    Tropical Storm Ida formed in the Caribbean Sea and is expected to threaten the northern Gulf Coast of the United States as a major hurricane by the end of this week, the US National Hurricane Center (NHC) said, adding that there is a possibility of hurricane-force winds, heavy rain and …

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  • 27 August 2021 11:25 am

    Nikkei Trails Wall Street Lower With Caution

    Japan’s Nikkei index fell on Friday, in line with Wall Street’s decline Thursday night, on caution about the prospects of an earlier-than-expected reduction in the US Federal Reserve’s stimulus. The Nikkei fell 0.36% to close at 27651.51 points, but it moved away from the low level it had recorded in …

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  • 27 August 2021 10:31 am

    Oil Gains Halts Due to Increase in Covid-19 And Return of Mexican Supplies

    Oil settled lower on Thursday, August 26, halting a three-day streak of gains amid renewed demand concerns due to rising coronavirus cases and with Mexico restoring some production after a fire disrupted supplies. The losses were limited due to the possibility of further disruptions to the supply side. Energy companies …

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  • 27 August 2021 6:54 am

    Wall Street Down Ahead of Powell’s Anticipated Speech

    The benchmark indices of the New York Stock Exchange (NYSE) closed lower on Thursday, as Wall Street was impacted by the decline in risk appetite, ahead of a speech by the Federal Reserve Chairman Jerome Powell at the Jackson Hole economic symposium. This ended five and four consecutive sessions of …

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  • 27 August 2021 2:58 am

    Gold Rises Amid Weaker Risk Appetite

    Gold prices rose on Thursday, because of the higher demand for safe-haven assets with a slump in risk appetite, as investors anticipate the upcoming speech by the U.S. Federal Reserve Chair Jerome Powell in an economic forum on Friday. The front-month gold futures added $4, or 0.22%, to finish at …

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  • 27 August 2021 2:38 am

    GBP/USD Sees Worst Daily Loss in Week

    The British Pound (GBP) fell against the U.S. Dollar (USD) as the greenback rose across the board for the first time in five sessions. The Sterling registering its biggest loss to the USD since August 19. The GBP/USD pair declined by 0.47% to the level of 1.3699. The pair has …

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  • 27 August 2021 2:23 am

    European Stocks Finish Lower Following ECB’s Meeting Accounts

    European stocks declined on Thursday, with investors anticipating more signs of recovery amid fears over the spread of the Coronavirus Delta variant. Earlier today, the European Central Bank’s meeting accounts showed a debate among board members about the forward guidance on interest rates. Similar to what we are expecting from …

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  • 27 August 2021 1:25 am

    Fed’s Kaplan Preparing Markets for Tapering Decision in September

    The President of the Federal Reserve Bank of Dallas, Robert Kaplan, believes that U.S. central bank should take the decision on tapering next month. Kaplan’s remarks to CNBC came a day before the highly anticipated speech by the Federal Reserve Chairman, Jerome Powell, to the Jackson Hole economic conference. Kaplan …

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  • 26 August 2021 10:53 pm

    USD Rises for First Time in Five Sessions Ahead of Jackson Hole Event

    The U.S. Dollar (USD) is close to registering its first rise this week, following four consecutive daily losses, with most investors turning their focus to tomorrow’s remarks by the Federal Reserve Chairman Jerome Powell in front of the Jackson Hole Economic Symposium. Earlier today, the United States Bureau of Economic …

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  • 26 August 2021 8:08 pm

    Tenth District Manufacturing Activity Index Falls in August

    The Kansas Fed Manufacturing Activity declined in August to a reading of 29 from 30 in July. Despite the decrease, the index remained higher than market expectations. The production index dropped to 22 from 41, while the volume of shipments index decreased to 25 from 37 in July. Meanwhile, the …

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  • 26 August 2021 5:30 pm

    US: Real GDP Expands by 6.6% in Q2

    The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.6% in the second quarter, the US Bureau of Economic Analysis reported on Thursday. This reading matched the previous estimate and the market consensus. the US Bureau of Economic Analysis (BEA) second estimate showed on Thursday. …

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  • 26 August 2021 4:48 pm

    US: Weekly Initial Jobless Claims Rise to 353K

    There were 353,000 initial claims for unemployment benefits in the United States during the week ending August 21, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 349,000 and came in slightly worse than the market expectation of 350,000.

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  • 26 August 2021 3:55 pm

    US Bond Yields Almost Flat Today

    US Treasury yields were mixed on Thursday, ahead of the Federal Reserve’s Jackson Hole symposium, in addition to the release of economic data, the yield on the benchmark 10-year Treasury bond rose less than a basis point to 1.347%, and the yield on the 30-year Treasury fell less than a …

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