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Market Analysis

July, 2021

  • 24 July 2021 12:38 pm

    Weekly Recap: 19-23 July

    The World Health Organization has called upon all countries around the world to cooperate in finding out the origin of the novel coronavirus, despite the Chinese rejection of the proposed scope for the second phase of the investigation, as the scope includes inspecting the hypothesis that the virus could have …

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  • 24 July 2021 7:29 am

    Silver Finishes Week with Large Losses

    Silver finished the week with large losses that are the biggest in five weeks, due to the diminishing demand for safe havens as reflation fears eased and risk appetite improved among investors. The silver metal has now maintained a downward trend for three consecutive weeks. Silver futures lost 14.70 cents …

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  • 24 July 2021 3:14 am

    Oil Snaps Three-Week Declining Streak with Modest Gains

    Oil prices continued to rise on Friday for the fourth consecutive session, scoring their first weekly rise in four weeks, with investors shrugging off concerns about output policy and a slower than expected recovery from the coronavirus crisis. The global benchmark Brent crude futures for September delivery added 31 cents …

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  • 24 July 2021 12:56 am

    Gold Snaps Four-Week Rising Streak Maintaining $1,800 Key Level

    Gold

    Gold prices declined on Friday, extending their weekly decline that snapped a four-week rising streak, amid the rise of the U.S. Dollar (USD) and an improvement in risk appetite among investors, who seem to be less worried about reflation and slow recovery concerns. However, the yellow metal was supported by …

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  • 23 July 2021 11:30 pm

    European Stocks Finish Week at New Record High

    European stocks finished higher on Friday for the fourth consecutive session, extending their weekly gains and hitting a new all-time high amid an improvement in risk sentiment among investors. The STOXX Europe 600 index surged by 4.98 points or 1.09% to close at a record 461.51 points. For the week, …

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  • 23 July 2021 9:48 pm

    U.S. Oil Rigs at Highest Level Since April 2020

    The number of crude oil and natural gas rigs in the United States increased for the fourth consecutive week, data showed on Friday. This is the first time that the total rig count registers four straight weekly rises since May. The total rig count rose by seven to 491 in …

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  • 23 July 2021 9:12 pm

    CAD Limits Losses After Retail Sales Data

    The Canadian Dollar (CAD) is showing a mixed but mostly negative performance against the U.S. Dollar (USD) on Friday after data showed a better than expected slump in Canadian retail sales. In addition, with improving daily performance by oil futures, the Canadian is gaining relative support as a commodity currency …

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  • 23 July 2021 7:45 pm

    Dollar Fluctuates in Positive Territory

    The U.S. Dollar (USD) is trading higher on Friday, maintaining a mostly positive performance against other currencies, in the absence of major economic data in the United States, other than the IHS Markit PMI. The flash U.S. Composite Output Index declined to 59.7 in July, down from 63.7 in June, …

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  • 23 July 2021 6:55 pm

    US Stocks Open Higher on Friday

    Wall Street’s major indexes opened higher on Friday, boosted by big-cap technology stocks and risk flows continuing to dominate the markets, with the focus shifting to business activity data later in the day. The S&P 500 is up 0.45% today at 4,387, the Dow Jones Industrial Average is up 0.6% …

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  • 23 July 2021 5:59 pm

    ECB Not Expected to End PEPP at Next Meeting

    Reuters reported on Friday that European Central Bank policymakers do not expect to decide on potential changes to the pandemic emergency purchase program (PEPP) at its September meeting, citing three sources familiar with the matter. Sources also indicated that a decision on PEPP would likely be made in October or …

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  • 23 July 2021 5:29 pm

    WHO Urges the World to Cooperate Better with Covid Origin Investigation

    The World Health Organization said Friday (July 23) that all countries should cooperate to find out the origin of the coronavirus a day after China rejected the proposed scope of a second phase of the investigation. In response to a question about China’s refusal, said Tarik Yasarvic, a spokesman for …

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  • 23 July 2021 4:42 pm

    Oil Prices Drop on Demand Concerns

    Oil prices fell from the level of $ 74 a barrel on Friday, July 23. Still, it is on track to end the week with little change, after rebounding from a sharp decline on Monday, supported by expectations that supply will remain tight despite the recovery in demand. Oil prices …

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  • 23 July 2021 3:42 pm

    US Dollar on the Way to Weekly Gain

    The US dollar is on course to close the week slightly higher after a few days of volatility when it was hit by a shift in risk appetite, with the market now focused on the US Federal Reserve meeting next week. The dollar index rose 0.2% during the week and …

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