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The Japanese Nikkei index closed at its lowest level in nearly eight months on Friday, led by the decline in shares of automakers and related sectors due to growing concern about the recovery after Toyota cut its global production. The Nikkei index fell 0.98 percent to close at 27,013.25 points, …
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August, 2021
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20 August 2021 4:47 am
Could Ethereum Be The No.1 Cryptocurrency?
Bitcoin was the first cryptocurrency and remains the biggest in terms of market capitalization, however, some market experts now believe that Ethereum (Ether) with its recent surge could one day overtake the number one spot. Ethereum will continue to outperform Bitcoin, said Nigel Green the head of a financial institution, …
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20 August 2021 4:11 am
GBP/USD Logs Worst Loss in Two Months Settles at Lowest Level in a Month
The British Pound (GBP) declined on Thursday for the fourth consecutive day, maintaining a negative performance against the U.S. Dollar (USD) since the beginning of the week. The GBP/USD lost 0.82%, its biggest daily loss since June 18, to reach 1.3641, its lowest level since July. Month-to-date the pair is …
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20 August 2021 4:04 am
Norway to Raise Interest Rates Next Month
The Central Bank of Norway plans to begin tightening its monetary policy as soon as next month. The Norges Bank plans to raise interest rates in September after the Norwegian economy showed more signs of a rebound with the ease of coronavirus lockdown restrictions. As the bank decided to maintain …
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20 August 2021 3:04 am
Three U.S. Senators Test Positive for COVID
Three members of the United States Senate have reportedly tested positive for coronavirus (COVID-19), Bloomberg reported. Roger Wicker (R) of Mississippi, Angus King (I) of Maine, and John Hickenlooper (D) of Colorado announced the test results on Thursday. The three Senators are said to have all been vaccinated against the …
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20 August 2021 2:55 am
Wall Street Mixed with Investors Reacting to Fed Minutes
The main indices of the New York Stock Exchange (NYSE) finished Thursday with a mixed performance. Despite a rebound by tech stocks, with the decline in Treasury bond yields, Wall Street remained negatively impacted by the Federal Reserve’s July meeting minutes that indicated plans to scale asset purchases sooner than …
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20 August 2021 12:18 am
Oil on Longest Declining Streak Since Before Pandemic
Oil prices dropped again for the sixth consecutive session, falling to its lowest closing level in about three months. With concerns over economic recovery and the prospects of the U.S. Federal Reserve scaling back support measures, vowing to cut asset purchases soon, and the spread of the Coronavirus Delta variant, …
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19 August 2021 11:11 pm
Gold Declines for Third Day in Row as USD Rises
Gold prices finished lower on Thursday for the third consecutive session as the U.S. Dollar strengthened against major currencies, a day after the release of the Federal Reserve’s July meeting minutes. The yellow metal futures for December delivery lost $1.30, or 0.08%, to finish at $1,783.10 per ounce. The Dollar …
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19 August 2021 10:10 pm
European Stocks React to Fed Minutes with Worst Losses in a Month
Europe’s stock plunged on Thursday, with markets reacting to the release of the U.S. Federal Reserve’s July meeting minutes that showed plans to cut the massive asset purchases later this year or early the next. A drop in commodity prices also contributed to the losses of the mining sector, with …
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19 August 2021 7:43 pm
U.S. Natural Gas Supplies Rises Above Market Expectations
U.S. natural gas supplies increased by 46 billion cubic feet (bcf) for the week ending August 13, according to data by the United States Energy Information Administration reported (EIA) on Thursday. The EIA weekly report showed an adjustment stocks classification, reflecting an increase of 42 bcf to a total of …
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19 August 2021 7:17 pm
USD/JPY Steadies Below 110.00
USD/JPY rose to a one-week high of 110.22 on Thursday but is having trouble maintaining bullish momentum, the pair was little changed on a daily basis at 109.72. The sharp decline in the major European stock indices drove the demand for the Japanese yen on Thursday due to risk aversion …
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19 August 2021 6:30 pm
Wall Street Opens Lower on Fears of Subsidy Cuts And Commodity Losses
US stocks opened lower on Thursday on concerns that the Federal Reserve may begin to rein in its massive monetary stimulus program, while commodity-related stocks tumbled as oil and metals prices sank to a multi-month low. The Dow Jones Industrial Average fell 86.02 points, or 0.25 percent, to 34,874.67 points, …
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19 August 2021 5:43 pm
US: Philadelphia Fed Manufacturing Index Drops to 19.4 in August
The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 19.4 in August from 21.9. This reading came in weaker than the market expectation of 23.
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