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Market Analysis

August, 2021

  • 25 August 2021 3:05 am

    EUR/USD Settles Near Weekly High

    Eurozone

    The Euro (EUR) rose against the U.S. Dollar (USD) for the third consecutive day, keeping the rising trend this week, rebounding from multi-month lows. The EUR/USD pair increased by 0.11% to settle at 1.1759. The pair will now target levels between 1.1775 and then 1.1800. Today saw the biggest daily …

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  • 25 August 2021 2:14 am

    Oil Finishes Higher for Second Day

    Oil prices rose on Tuesday for the second consecutive session, recovering some of its recent losses, amid output disruptions in North America. Brent crude futures for October delivery closed higher by $2.30, or 3.35%, at $71.05 per barrel, to close at its highest level since August 12. Meanwhile, the West …

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  • 25 August 2021 1:58 am

    PayPal to Introduce Crypto Services in UK

    PayPal will soon allow its customers in the United Kingdom to hold, buy, and sell Bitcoin and other cryptocurrencies. Customers will be able to choose between Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal warned its customer base that crypto assets are considered volatile because of how much and how quickly …

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  • 24 August 2021 11:26 pm

    Gold Scores Largest Rise in a Row

    Gold prices continued to rise on Tuesday, maintaining an upward trend for the third consecutive session, The yellow metal front-month futures added $2.40, or 0.13%, to finish $1,805.60 per ounce. This marked the biggest gain for gold futures since August 17 and the highest settlement value since August 4. Gold …

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  • 24 August 2021 10:18 pm

    European Stocks Close Little Changed Ahead of IFO Data

    European stocks stalled on Tuesday, closing marginally lower, after rebounding for two consecutive sessions. Markets are anticipating tomorrow’s release of the IFO data in Germany, which includes important indicators for the business climate in the continent’s largest economy. The STOXX Europe 600 index slipped by 0.09 points or 0.02% to …

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  • 24 August 2021 9:03 pm

    Richmond Fed Manufacturing Index Plunges

    The Federal Reserve Bank of Richmond Survey of Manufacturing Activity’s composite index declined to a reading of 9 in August from 27 in July, data showed on Tuesday. The reading indicates a slowdown in manufacturing activity to its lowest level since June 2020. The shipments index also decreased to 6 …

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  • 24 August 2021 7:43 pm

    U.S. New Home Sales Rise in July

    New home sales in the United States increased last month, as the housing market continues to show signs of strength, data showed on Tuesday. The sales of new single-family homes increased by 6.6% to a seasonally adjusted annual rate of 708,000 units in July, according to the U.S. Department of …

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  • 24 August 2021 5:25 pm

    Philly Fed Nonmanufacturing Index Drops to 39.1 in August

    The Federal Reserve Bank of Philadelphia’s business activity index declined to 39.1 in August from 53.8 in July. Further details of the publication showed that the Firm-level Business Activity Index declined to 37.2 from 44.8 and the Full-time Employment Index declined to 8.2 from 24.8.

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  • 24 August 2021 4:32 pm

    UK Home Sales Fell More Than 60% in July

    Home sales in Britain during the month of July decreased by about 63%, after reducing a tax exemption aimed at encouraging home purchases during the Coronavirus crisis. The British Tax Office said Tuesday, August 24, that the number of homes sold in July, after adjusting for seasonal factors, was 73,740, …

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  • 24 August 2021 3:25 pm

    The Pound Maintains Its Gains Against The Dollar Despite Selling Pressures

    The British pound maintained its gains against the US dollar and the euro, although it fell slightly in early trading on Tuesday. It maintained its gains that exceeded 1% during Monday’s trading, in conjunction with the recovery of risk appetite in global markets and the recovery witnessed in stock markets …

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  • 24 August 2021 2:35 pm

    Gold Falls, Hovers Above $1,800 on Virus Fears

    Gold prices fell on Tuesday, August 24th but hovered above the psychologically important $1800 level, as the growing threat from increased delta cases fueled expectations that the Federal Reserve may delay easing its accommodative stance. Spot gold fell 0.1% to $1,803.53 an ounce, after jumping about 1.4% on Monday. And …

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  • 24 August 2021 1:58 pm

    European Stocks Continue to Recover

    European shares continued to recover on Tuesday, August 24, after a full US approval of a vaccine to prevent Covid-19 boosted Wall Street to record highs, while the latest data showed a stronger-than-expected economic recovery in Germany. The STOXX 600 index of European shares rose 0.3% by 07:11 GMT, after …

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  • 24 August 2021 1:13 pm

    Oil Rises as Demand Hopes Grow After Full US Approval For a Covid-19 Vaccine

    Oil prices rose on Tuesday, August 24 after the US Food and Drug Administration granted full approval for the use of the Pfizer-BioNTech vaccine against Covid-19, raising investors’ hopes of higher fuel demand due to a possible increase in US vaccination rates. Brent crude futures rose 46 cents, or 0.7%, …

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