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Market Analysis

June, 2021

  • 30 June 2021 1:19 am

    GBP/USD Closes at Lowest Level Since June 18

    The British Pound (GBP) resumed losses against a stronger U.S. Dollar (USD), with the latter rising on the back of a rebound by Treasury bond yields. In addition, the Sterling remains impacted by the uncertainty surrounding plans to reopen the U.K. despite concerns about the coronavirus Delta variant. Today, the …

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  • 30 June 2021 12:34 am

    Wall Street Close with Modest Gains and New Records

    The New York Stock Exchange (NYSE) closed modestly higher on Tuesday, with the technology stocks leading the gains in Wall Street and investors awaiting economic data, especially the upcoming jobs report, to asses the possible impact on monetary policy and interest rates. The S&P 500 and the Nasdaq Composite continued …

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  • 29 June 2021 11:14 pm

    Oil Settles Higher After Choppy Trading

    Oil and Gas oil (

    Oil prices fluctuated on Tuesday, recovering from losses before giving up some of its daily gains, but managed to close higher with markets anticipating the coming OPEC+ decision on production policy. Concerns over the rising number of coronavirus (COVID-19) cases in a number of countries continue to limit the effect …

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  • 29 June 2021 10:39 pm

    Gold Plunges to Lowest Level Since April

    Gold prices finished lower on Tuesday, as the U.S Dollar (USD) and Treasury bond yields rebounded from recent declines. However, the yellow metal was able to recover from session lows but still closed at its lowest level since April 14. Front Month Gold futures for July delivery lost $17, or …

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  • 29 June 2021 10:15 pm

    European Stocks Finish Higher on Improved Sentiment

    European stocks closed higher on Tuesday after data showed economic sentiment in the Eurozone rose to its highest level in about 21 years. The pan-European STOXX 600 index gained 0.31% to close at 456.37 points. The blue-chip EURO STOXX 50 index added 0.43% to finish at 4,107.51 points. The French …

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  • 29 June 2021 8:45 pm

    Moderna Says COVID-19 Vaccine Effective Against Delta Variant

    Moderna said that its coronavirus (COVID-19) vaccine is showing promising results against the Delta variant. Tests reportedly showed the vaccine led to an antibody response against all the studies variants, the company announced on Tuesday. The Delta variant was first discovered in India and appeared in many countries, leading to …

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  • 29 June 2021 7:26 pm

    U.S. Consumer Confidence Improves in June

    U.S. consumer confidence improved this month, reaching a new fresh high since the beginning of the pandemic, data showed on Tuesday. The Consumer Confidence index rose to 127.3 from a revised reading of 120 in May, according to the Conference Board. More consumers are showing upbeat expectations for economic recovery …

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  • 29 June 2021 6:03 pm

    US: Housing Price Index Edges Higher to 1.8% in April

    The Housing Price Index released by the US Federal Housing Finance Agency (FHFA) rose by 1.8% on a monthly basis in April following March’s increase of 1.6%. Meanwhile, the annual S&P/Case-Shiller Home Price Indices arrived at 14.9% in February and surpassed the market expectation of 14.5%.

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  • 29 June 2021 4:56 pm

    Germany: Annual HICP Declines to 2.1% in June

    Inflation in Germany, as measured by the Consumer Price Index (CPI), edged lower to 0.4% (preliminary) on a monthly basis in June from 0.5% in May, the data published by Destatist showed on Tuesday. On a yearly basis, the CPI declined to 2.3% from 2.5%. Both of these readings came …

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  • 29 June 2021 3:40 pm

    Travel Ban in Britain Due to The Outbreak of The New Strain of Corona

    The health authorities in the United Kingdom announced the highest rate of infection with the Corona virus since January 30, as the authorities recorded about 22,868 new confirmed cases of the Coronavirus in just one day. This sudden rise in new cases of Coronavirus in the United Kingdom is due …

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  • 29 June 2021 2:33 pm

    Dollar Hovers Below Two-Month High Ahead of USJobs Report

    USD

    The dollar rose on Tuesday, June 29, approaching a two-month high against major currencies, with many traders largely reluctant to bet before an important US jobs report could change the timing of the Federal Reserve’s halt to stimulus programs. The dollar index, which tracks the dollar’s movement against six major …

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  • 29 June 2021 1:51 pm

    Gold Falls Due to The Strength of The Dollar and The Tendency of US Fed to Raise Interest Rates

    Gold prices fell on Tuesday, June 29, hovering near the lowest level in a week, which it reached in the previous session, as it was pressured by the rise of the dollar and fears that the US Federal Reserve will tighten its monetary policy earlier than expected. Spot gold fell …

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  • 29 June 2021 12:54 pm

    Japan Shares Fall on Delta Concerns

    Japan

    Japanese stocks fell on Tuesday, June 29, as losses in cyclical stocks outpaced gains in technology companies, as the outbreak of the most contagious delta strain of Covid-19 raised fears of derailing the global economic recovery. The Nikkei index fell 0.81% to 288212.61 points, while the broader Topix index lost …

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