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Market Analysis

November, 2021

  • 16 November 2021 11:43 pm

    GBP/USD Surges By Strong UK Jobs Data

    Following Tuesday’s strong retail sales and industrial production readings, the GBP/USD pair has fallen back from earlier session’s highs in the 1.3470s and is back trading around 1.3430s. Earlier during the European trading session, the pair had surged as much as 0.5%, boosted by a strong labour market report that …

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  • 16 November 2021 11:13 pm

    Canada’s Rate Hike Not As Soon As Expected

    The Bank of Canada is still expecting economic easing to be absorbed in the middle quarters of 2022, but that does not necessarily mean in the second quarter according to statements by a key deputy governor on Tuesday, potentially dashing traders and investors; hopes across the market concerning an early …

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  • 16 November 2021 11:01 pm

    Biden’s Pick for Fed Chair Imminent

    Jerome Powell and Lael Brainard are widely believed to be the two frontrunners for the Fed Chair’s position. No other names have leaked to the public according to key media outlets in Washington DC.Brainard, if appointed, would be the second woman to head the US Federal Reserve Bank, following Treasury …

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  • 16 November 2021 10:46 pm

    Commodities Impact Worldwide Inflation

    A sharp surge in natural gas prices since August has put pressure on a set of commodities, including crude oil, coal and electricity. Prices are currently squeezing margins for industrial users. Some industrial activities have contributed to higher prices for other commodities, such as base metals and ammonia as output …

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  • 16 November 2021 9:49 pm

    What World’s Biggest Economies Expect From Biden-Xi Summit

    One of US President Joe Biden’s toughest challenges is maneuvering America’s relationship with its biggest economic enemy; namely China. when Biden holds a virtual summit with Chinese counterpart Xi Jinping later on Monday, issues such as tariffs, supply chain bottlenecks, subsidies, Chinese property sector debt crisis and the global energy …

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  • 16 November 2021 8:44 pm

    Wall Street Rises After Strong Retail Sales

    US shares reaped fresh gains on Tuesday, with investors and traders digesting key economic data on the state of the consumer after two major retailers topped quarterly corporate earnings results. The S&P 500 rose 0.3% as of 10:15 a.m. Eastern. The Dow Jones Industrial Average rose 158 points, or 0.5%, …

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  • 16 November 2021 8:11 pm

    Bitcoin Slides After Chinese Warning, US Law

    Bitcoin fell around $60,000 on Tuesday, after it had been hit by a blend of bearish factors, including the US infrastructure bill that imposes tougher rules on cryptocurrencies trading taxes and a new warning from China to firms regarding mining.Bitcoin fell by more than 10% at one point, dropped below …

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  • 16 November 2021 7:34 pm

    USD Index Pushes Higher Led By Positive Data

    On Tuesday, the US Dollar Index (DXY), which tracks the USD’s performance against major rival currencies, advances to fresh highs and levels last recorded in late July 2020 in the 95.80/85 band.The USD Index has been largely supported by treasury yields, and the latest positive economic data. The index extends …

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  • 16 November 2021 5:59 pm

    Market Drivers – European Session 16-11-2021

    The European session did not see strong moves and the markets were waiting for the retail sales from the US as well which came in better than expected. The Eurozone economy grew 2.2% on quarter in the three months to September of 2021, beating 2.0% expected and 2.2% previous, the …

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  • 16 November 2021 5:43 pm

    US Retail Sales Rise in October

    US Retail Sales rose by 1.7% MoM in October, according to data published by the US Census Bureau showed on Tuesday. That was above market expectations for a MoM rise of 1.2% and above the (upwardly revised from 0.7%) 0.8% MoM gain seen in September. Core sales also rose by …

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  • 16 November 2021 4:47 pm

    The Turkish Lira Hits New Lows

    turkey

    The Turkish lira fell by about 0.8 percent on Tuesday to a new record low of 10.14 against the dollar, weighed by expectations of another interest rate cut from the central bank this week. The lira has fallen 27 percent against the dollar this year, mainly due to concerns about …

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  • 16 November 2021 3:31 pm

    The Dollar Rises After an American-Chinese Dialogue And Corona Strikes Again

    The dollar rose in trading on Tuesday, ahead of the release of key retail sales data, while the Chinese yuan benefited largely from a friendly dialogue between the presidents of the United States and China during a virtual meeting. The dollar index, which measures the greenback against a basket of …

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  • 16 November 2021 2:38 pm

    Eurozone GDP Grows by 3.7% in Q3

    The Eurozone economy grew 2.2% on quarter in the three months to September of 2021, beating 2.0% expected and 2.2% previous, the first estimate showed on Friday. Annually, the eurozone GDP rate expanded by 3.7% in Q3 vs. 14.3% seen in the second quarter of 2021 while beating 3.5% expectations. …

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