The European Central Bank is closely watching inflation expectations and wage developments as predicting the length of disruptions caused the economy’s post-pandemic reopening is difficult, ECB President Christine Lagarde said. “We should not overreact to supply shortages or rising energy prices, as our monetary policy cannot directly affect those phenomena”, …
Read More »EUR/USD Holds Steady Amid Tariff Tensions, Eyes Turn to EU Economic Data
Modest Gains Amid Holiday-Thinned TradingThe EUR/USD pair edged up by 0.18% on Friday, trading at 1.…
Global Markets Wobble as Trump’s Tariff Deadline Draws Near
Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s Jul…
Sterling Falters Against Yen Amid Tariff Fears and UK Political Strife
The British Pound (GBP) weakened against the Japanese Yen (JPY), with GBP/JPY slipping below 197.61,…
WTI Crude Oil Stalls Near $65 as OPEC+ and Tariff Uncertainties Loom
West Texas Intermediate (WTI) Crude Oil prices hovered near $65.70, down 0.82%, reflecting cautious …
Gold Shines Amid Tariff Threats and U.S. Dollar Weakness
Gold (XAU/USD) climbed above $3,330, driven by a weakening U.S. Dollar and renewed concerns over U.S…
U.S. Dollar Edges Lower Ahead of Trade Deadline Amid Fiscal and Market Uncertainty
The U.S. dollar saw a slight dip on Friday after a brief rally earlier in the week, with attention n…
Markets Brace for U.S. Tariff Deadline Amid Growing Optimism
As investors turn their attention to Washington’s tariff negotiations next week, the expiratio…
European Stocks Slip Amid Uncertainty Ahead of U.S. Trade Deadline and Ongoing Tariff Concerns
European stocks ended the week on a negative note, slipping lower on Friday as uncertainty grew over…
Bitcoin Struggles as U.S. Trade Tariffs Loom and Rate Cut Bets Fade
Bitcoin prices steadied on Friday after a sharp reversal of recent gains, as traders focused on the …
Oil Prices Decline Amid Nuclear Talks and OPEC+ Output Expectations
Oil futures fell on Friday as market participants reacted to ongoing geopolitical developments and e…
Market Analysis
October, 2021
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5 October 2021 8:29 pm
EUR/USD retreats back to the 1.1600 ahead of Lagarde’s speech
The EUR/USD pair has reversed part of recent gains and returned to 1.1600. Sellers returned to the market and forced EUR/USD to abandon the area of recent highs and refocus once again on the 1.1600 hereabouts.After two successive daily pullbacks, the EUR/USD pair now trades on the defensive and hovers …
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5 October 2021 7:48 pm
After Norway, Will New Zealand’s Fed be second to effect hike rates?
New Zealand’s dollar declined 0.34% to $0.6939, away from a four day peak at $0.6981.The Reserve Bank of New Zealand will decide on the state’s fiscal policy on Wednesday, with markets expecting a quarter point rate hike. With markets already pricing a rate hike cycle, the likelihood of material NZD …
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5 October 2021 7:23 pm
U. S. Poll Shows Economic Optimism declines
The IBD/TIPP Economic Optimism Index, a pioneering national poll on consumer confidence, declined for the fourth consecutive month. The October index fell another 3.6% after September’s 9.5% drop, moving from 48.5 last month to 46.8 this month, and remained in the negative territory for the second successive month.For the IBD/TIPP …
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5 October 2021 7:05 pm
Supply concerns lead Europe’s gas to a record surge
Natural gas contracts have hit new highs in Europe on Tuesday, as soaring prices continue to put pressure on the continent’s energy sector ahead of winter months.November delivery contracts at the Dutch TTF hub, a European benchmark for natural gas, were trading at around 118 Euros per megawatt hour just …
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5 October 2021 6:12 pm
U.S: Markit Services PMI edges lower to 54.9
The business activity in the US service sector continued to expand in September albeit at a softer pace than it did in August with IHS Markit’s Services PMI retreating to 54.9 (final) from 55.1 in August. Nevertheless, this reading came in higher than the advanced estimate and the market expectation …
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5 October 2021 6:10 pm
Canada: International trade surplus widens to C$1.94B
Canada’s merchandise trade surplus with the world widened to C$1.94 billion in August from C$736 million in July, the monthly data published by Statistics Canada revealed on Tuesday. This reading beat the market expectation for a surplus of C$0.35 billion by a wide margin.
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5 October 2021 6:09 pm
US: Goods And Services Deficit Expands to $73.3B
The goods and services deficit of the US expanded by $2.9 billion to $73.3 billion in August from $70.3 billion in July, the US Census Bureau reported on Tuesday. This reading came in worse than analysts’ estimate for a deficit of $70.5 billion.
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5 October 2021 4:27 pm
US Stock Futures Regain Some of Yesterday’s Losses
Stock futures rebounded on Tuesday as some investors bought declines in technology stocks, Dow Jones Industrial Average futures gained 101 points or 0.3%, S&P 500 futures rose 0.3% and Nasdaq 100 futures gained 0.4%. Facebook shares added 1.5% in pre-market trading after dropping 5% on Monday due to whistleblower claims …
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5 October 2021 3:44 pm
Bitcoin Exceeds Significant Levels, With Adoption Approaching in a New Country
The largest digital currency, Bitcoin, has managed to reach its highest levels in nearly a month, specifically since the start of accepting Bitcoin payments in El Salvador on September 7. Bitcoin was seen a few minutes ago, above the levels of 50 thousand dollars, after rising more than 5%, and …
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5 October 2021 2:45 pm
The Dollar Climbs to a Year High
The dollar rebounded to a one-year high against other major currencies on Tuesday, ahead of an important US jobs report due at the end of the week, which could increase the Federal Reserve’s motivation to start tapering stimulus by next month. The dollar, which is considered a safe haven, also …
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5 October 2021 1:45 pm
Oil Rises After OPEC+ Adheres to Supply Restrictions
Oil prices rose on Tuesday, October 5, reaching their highest levels in at least three years, extending gains made during the previous session after the world’s major oil producers announced their decision to maintain a curb on crude supplies. Brent crude rose 23 cents, or 0.3%, to $81.49 a barrel, …
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5 October 2021 1:11 pm
Gold Falls Due to The Rise of The Dollar
Gold prices fell on Tuesday, October 5, as the dollar benefited from a decline in risk appetite, and the metal is likely to see volatile trading in the run-up to Friday’s US jobs numbers, which may have an impact on the US Federal Reserve’s plans to cut stimulus. And gold …
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