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 …
Read More »Tariff Tango Continues: Eurozone Trade Sees Slight Surplus Boost Amidst Uncertainty
The Eurozone’s trade landscape presented a mixed picture in January, with a slight widening of…
Canada’s Inflation Rises to 2.6% in February, Exceeding Expectations
Canada’s annual inflation rate unexpectedly rose to 2.6% in February, surpassing forecasts, as the e…
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 …
Market Analysis
June, 2021
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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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23 June 2021 2:26 pm
Nikkei Stable, Chip Gains Offset Pharmaceutical Losses
The Japanese Nikkei index weakened on Wednesday, June 23rd, as gains in chip-related heavyweights, which tracked Wall Street yesterday, offset losses in the pharmaceutical industry. Nikkei rose 0.03% to close at 28,874.89 points, after witnessing the largest increase since 2021 on Tuesday, while the broader Topix index fell 0.53% to …
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23 June 2021 1:25 pm
Eurozone Preliminary Manufacturing PMI Arrives at 64.9 in June
The Eurozone manufacturing sector activity boosted its pace of expansion in the reported month, the latest manufacturing activity survey from IHS/Markit research showed on Wednesday. The manufacturing purchasing managers index remained steady at 63.1 in June and beat 62.1 expectations. Services PMI jumped to 41-month highs of 58.0 in June …
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23 June 2021 1:20 pm
UK Preliminary Manufacturing PMI eases to 64.2 June
The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) eased to 64.2 in June versus 64.0 expected and 65.6 – May’s final reading.
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23 June 2021 4:07 am
Fed’s Powell: No Pre-Emptive Rate Hikes to Combat Inflation
The Chairman of the U.S. Federal Reserve, Jerome Powell, told lawmakers on Tuesday that the economy has achieved progress on its way to recovery from the Coronavirus crisis. The most anticipated message was about the Fed’s reaction to the surge in inflation, which as expected with Powell indicating to the …
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23 June 2021 1:40 am
USD Eases Following Powell’s Testimony
The U.S. Dollar (USD) showed a mostly negative performance on Tuesday, turning to losses against major peers after recent remarks by the Chairman of the Federal Reserve Jerome Powell. The Dollar Index (DXY), which measures the greenback against a basket of six international currencies, declined by about 0.18% to 91.73, …
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23 June 2021 12:46 am
U.S. Oil Inventory Down 7.2 M Barrels – API
Crude oil inventories in the United States fell by 7.2 million barrels last week, according to estimates by the American Petroleum Institute (API). Meanwhile, the stockpiles of gasoline and distillates rose by 959,000 and 992,000 barrels, respectively. Crude stocks at the storage hub in Cushing, Oklahoma, decreased by about 2.6 …
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23 June 2021 12:01 am
Nasdaq Closes at New Record High
The New York Stock Exchange (NYSE) closed Tuesday with modest gains, while the Nasdaq index finished at a new record-high closing level. The Dow Jones Industrial Average gained 68.61 points, or 0.20%, to close at 33,945.58 points. The S&P 500 rose by 21.65 points, or 0.51%, and finished at 4,246.44. …
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22 June 2021 11:57 pm
Oil Retreats from Year Highs to Close Lower
Oil prices declined on Tuesday, after rising for two consecutive days, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies might be raising production starting next August. Media reports pointed to discussions about more reductions into the current output cuts to raise production levels. …
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22 June 2021 11:46 pm
Gold Logs Another Loss to Close Below $1,800
Gold prices declined on Tuesday for the sixth time in eight sessions, as the U.S. Dollar (USD) rose against major currencies. Gold futures for August delivery finished lower by $5.50, or 0.31%, at $1,776.30 per ounce. The yellow metal’s most active contract has extended its losses month-to-date to 6.63%. Gold …
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22 June 2021 11:25 pm
European Stocks Close Higher
European stocks closed higher on Tuesday, with a rebound in commodity prices providing support for the mining and energy sectors. The pan-European STOXX 600 Index gained 0.26% and closed at 456.42 points. Similarly, the blue-chip STOXX 50 index finished higher by 0.26% at 4,123.13. Meanwhile, the UK’s FTSE100 ended the …
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22 June 2021 11:09 pm
Bitcoin Rebounds Near $33,000 Level
Bitcoin is showing recovery from a string of losses, which brought the world’s largest cryptocurrency below $30,000 for the first time in five months. However, the digital currency managed to flip the decline to rise by a little over 1% and reach a level above $33,100. Now, the cryptocurrency is …
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