The United States Federal Reserve has decided to maintain interest rates unchanged in its June meeting that concluded on Wednesday. The Federal Open Market Committee (FOMC) expects it will be appropriate to maintain the current rate target range until labor market conditions have reached levels consistent with the maximum employment …
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
-
16 June 2021 8:51 pm
European Stocks Close at Another Record High
European stocks rose on Wednesday to close at a new record high, amid positive expectations for economic recovery. The STOXX Europe 600 index added 0.27% to finish near 460 points, as the travel and leisure stocks lead the gains and leveled up by 1.3%. This marked the ninth consecutive daily …
Read More » -
16 June 2021 7:36 pm
U.S. Oil Inventories Down 7.4 M Barrels
Crude oil inventories in the United States declined by 7.4 million barrels last week, according to data by the Energy Information Administration (EIA) released on Wednesday. The decline exceeded most market expectations, which were hovering around 4.2 million barrels for the week ended June 11, but still came below estimates …
Read More » -
16 June 2021 5:57 pm
The Turkish Lira Swing Ahead of Rhe Central Turkish Meeting
The Turkish lira traded around 8.5 against the US dollar after a volatile start to the week, amid strained US-Turkish relations and persistent concerns about the central bank’s credibility ahead of Thursday’s policy meeting. Earlier this week, President Recep Tayyip Erdogan reiterated his country’s position on the S-400 missile defense …
Read More » -
16 June 2021 5:20 pm
US: Housing Starts Rise by 3.6% in May
Housing Starts in the US rose by 3.6% on a monthly basis in May following April’s drop of 12.1% (revised from -9.5%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday.
Read More » -
16 June 2021 4:37 pm
Canada: Annual CPI Rises to 3.6% in May
Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 3.6% in May from 3.4% in April, the data published by Statistics Canada revealed on Wednesday. This reading came in higher than the market expectation of 3.5%. On a monthly basis, the CPI remained steady at …
Read More » -
16 June 2021 4:01 pm
UK Inflation Hits 2.1%
Inflation in Britain unexpectedly jumped, exceeding the target of the Bank of England in May, reaching 2.1%, in the context of the rise in prices after the end of the general isolation measures from Corona, which is expected to gain momentum. This acceleration of the consumer price index after recording …
Read More » -
16 June 2021 3:08 pm
Gold Consolidating in a Narrow Range, Eyes on The Fed
Gold settled and moved in a narrow range on Wednesday, June 16, as investors awaited the outcome of the latest US Federal Council meeting for indications of a possible reduction of economic support measures, while the dollar’s rise imposed pressure on the yellow metal. There was little change in gold …
Read More » -
16 June 2021 2:23 pm
What to Expect From the FOMC Today
The FOMC meeting will be the main event for the market today. We don’t expect the Fed to send any significant new policy signals, but now updated forecasts will likely show a first rate hike in 2023 and we may see the first comments from the Fed on Possible tapering …
Read More » -
16 June 2021 1:46 pm
German IFO Institute Cuts 2021 GDP Growth Forecast to 3.3%
German IFO institute cut the country’s 2021 GDP growth forecast to 3.3% from 3.7% previous due to supply bottlenecks, the latest report showed on Wednesday. German current account surplus to shrink from 7% in 2020 to 5.8% in 2021 and 4.9% in 2022.
Read More » -
16 June 2021 1:10 pm
Oil Prices Rise as Demand Outlook Improves, US Inventories Fall
Oil prices rose on Wednesday, June 16, while the price of Brent crude rose for the fifth consecutive session, as sentiment improved on the back of falling inventories and a recovery in demand after the Coronavirus pandemic. Brent crude rose 47 cents, or 0.6%, to $ 74.46 a barrel, the …
Read More » -
16 June 2021 5:31 am
Fed Likely to Maintain Policy and Point to Rate Hike in 2023
The U.S. Federal Reserve will likely maintain its current policy and make no changes in the two-day policy meeting that is concluding on Wednesday. Some analysts have expected the policy statement will point to the next interest rate hike taking place in 2023. Investors will closely examine the monetary policy …
Read More » -
16 June 2021 2:08 am
U.S. Oil Inventories Down 8.5 M Barrels
Crude oil inventories in the United States reportedly declined by 8.5 million barrels last week, according to data by the American Petroleum Institute (API) released on Tuesday 11. Meanwhile, gasoline inventories are estimated to have rose by about 2.9 million barrels. Distillate stockpiles increased by about 2 million barrels. Official …
Read More »