Gold prices rose on Wednesday and managed to finish net their highest level in about a week, supported by a muted performance by the U.S. Dollar (USD). Recent remarks by the U.S. Federal Reserve Chair Jerome Powell that pointed to no plans to raise interest rates just to combat inflation …
Read More »Oil Prices Climb on Middle East Tensions and China’s Stimulus Plans
Oil prices surged over 1% on Tuesday, reaching their highest levels since early March, as geopolitic…
European Markets Inch Higher Ahead of German Debt Vote and Trump-Putin Talks
European stock markets edged higher on Tuesday as investors focused on a pivotal vote in the German …
Bitcoin Drops as Traders Await Federal Reserve Decision
Bitcoin fell on Tuesday, extending its cautious performance from the previous session, as investors …
Market Drivers – US Session: Dollar Wobbles as Economic Fears and Fed Caution Grip Markets
The US dollar is showing signs of vulnerability, lingering near the lower end of its recent trading …
Geopolitical Tensions and Economic Optimism Stir Oil Market
Oil prices experienced a modest increase on Monday, fueled by a confluence of geopolitical tensions …
Economic Uncertainty Grips Markets as Fed Faces a Tightrope Walk
A palpable unease has settled over investors, fueled by anxieties surrounding President Trump’…
Dow Roars Back: 600-Point Surge Amid Economic Uncertainty
Equities rebound from recent plunge, but trade tensions and soft retail data cast a long shadow.The …
Dollar Drifts as Geopolitical and Policy Storm Clouds Gather
A week of potentially historic significance opens with the US Dollar easing, as markets brace for a …
Gold Prices Still Soaring Above $ 3,000 Barrier
Gold prices have continued their upward trajectory since the start of trading on Monday, following t…
Consumer Caution: Retail Sales Underwhelm Amid Economic Uncertainty
A note of caution has sounded within the US economy as retail sales for February fell short of expec…
Market Analysis
June, 2021
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23 June 2021 9:30 pm
European Stocks Decline for First Time in Three Sessions
European stocks closed lower on Wednesday, after rising for two consecutive sessions, despite concerns about the Federal Reserve raising rates soon to combat inflationary pressures eased by Chair Jerome Powell. The pan-European STOXX 600 index fell by 3.32 points, or 0.73%, to finish at 453.10 points. The French CAC40 index …
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23 June 2021 8:50 pm
Dollar Rebounds But Remains in Negative Territory
The U.S. Dollar (USD) has recovered some of its losses on Wednesday, after rising earlier in the Asian and European sessions. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is down by 0.04% 91.72. Earlier today, the index fell as low …
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23 June 2021 7:21 pm
U.S. Oil Inventories Down 7.6 M Barrels in Week – EIA
Crude oil inventories in the United States declined by 7.6 million barrels last week, data showed on Wednesday. For the week ended June 18, gasoline stockpiles dropped by 2.9 million barrels, while distillate inventories increased by 1.8 million, according to the Energy Information Administration (EIA).
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23 June 2021 7:17 pm
U.S. Home Sales Down 5.9% in May
New home sales in the United States declined in May by 5.9% to a seasonally adjusted annual rate of 769,000 units, official data by the U.S. Census Bureau showed on Wednesday. On an annual basis, sales increased by 9.2% last month. The number of homes available for sale by the …
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23 June 2021 6:33 pm
U.S. Markit Services PMI Declines to 64.8 in June
The business activity in the US service sector continued to expand at a strong pace in June but lost momentum compared to May with the Markit Services PMI declining to 64.8 from 70.4 70 figure was expected. The Composite PMI fell to 64.9 in June from 68.7 in May.
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23 June 2021 5:54 pm
U.S. Manufacturing PMI Jumps to 62.6 in June
The IHS Markit’s Manufacturing PMI for the US rose to 62.6 in June from 62.1 in May to a record high. This reading came in better than the market forecast of 61.4 and revaled that the business activity in the manufacturing sector continued to expand at an unprecedented pace.
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23 June 2021 5:17 pm
OPEC+ Considering Boosting Output by 500K bPD When They Meet Next Week
The Organization of the Petroleum Exporting Countries (OPEC) and its allies are considering boosting the group’s collective output by some 500,000 barrels per day when they meet next week, the Wall Street Journal reported on Wednesday, according to Reuters
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23 June 2021 4:45 pm
Canada: Retail Sales Decline by 5.7% in April
Retail Sales in Canada fell by 5.7% on a monthly basis in April, the data published by Statistics Canada showed on Wednesday. This reading followed March’s increase of 3.6% and came in worse than the market expectation for a contraction of 5%.
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23 June 2021 3:48 pm
BoE Preview: Forecasts From Three Major Banks
The Bank of England announces its latest decision at 11:00 GMT on Thursday, June 24 here are the expectations forecast of three major banks. Wells Fargo “We expect policymakers to provide an update on how the economy is evolving and if the renewed spread of COVID-19 is disrupting economic activity. …
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23 June 2021 3:07 pm
Gold Gains After Powell Calms Interest Rate Fears
Gold prices rose on Wednesday, June 23, after US Federal Reserve Chairman Jerome Powell pledged to keep interest rates near zero for some time, bringing the dollar to near its lowest level in a week. Spot gold rose 0.2% to $1,782.46 an ounce, and gold futures in the United States …
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23 June 2021 2:38 pm
Oil Hits More Than Two-Year High Thanks to US Inventories
Oil topped $75 a barrel on Wednesday, hitting its highest since late 2018 after an industry report on crude inventories in the United States bolstered views of tight supplies in the market as travel grew in Europe and North America. Two market sources told Reuters that the American Petroleum Institute …
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23 June 2021 2:27 pm
Eurozone Business Activity Grows at Fastest Pace in 15 Years Thanks to Demand
A survey showed that business activities in the eurozone grew at the fastest pace in 15 years this month, as the easing of public isolation measures and the release of demand led to a boom in the services sector that dominates the bloc. The preliminary reading of the IHS Markit …
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