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The Turkish trade deficit in May increased by 20.74% on an annual basis, to $4.15 billion, according to the General Trade System. Data from the Commerce Ministry showed that exports rose 65.5% to $16.48 billion, compared to the same month last year when Ankara began easing restrictions on trade to …
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June, 2021
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2 June 2021 3:17 pm
Oil Extends Gains Thanks to OPEC+ Plan And Demand Expectations
Oil prices rose after OPEC and its allies agreed to commit to a cautious return to oil supplies to the market in June and July, with expectations of a strong recovery in demand in the United States and China, the world’s largest oil consumers. US West Texas Intermediate crude rose …
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2 June 2021 3:15 pm
Gold Falling as The Dollar And Bond Yields Rise, Supported by Strong US Data
Gold prices retreated on Wednesday from their highest level in nearly five months recorded in the previous session, as the dollar and US Treasury yields rose on the back of strong manufacturing data. And gold fell in spot transactions 0.2% to $ 1896 an ounce during the session, after hitting …
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2 June 2021 1:17 pm
Japan Shares Rise With Hopes of Resuming Economic Activities, Travel And Real Estate Companies
Japanese shares closed higher on Wednesday, June 2, buoyed by gains in the hotel sector, as increased activity in vaccination campaigns raised hopes of resuming economic activities, while shares of automakers rose to new records amid an increase in global demand. The Nikkei index rose 0.46% to close at 28946.14 …
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2 June 2021 12:59 pm
Turkish Lira Hits Record Low After Erdogan Calls For Interest Rate Cuts
Turkish President Recep Tayyip Erdogan reiterated that his country needed to cut interest rates and that he had spoken to the central bank governor about the issue, which has sent the lira to new record lows against the dollar. “I spoke to the central bank governor today – we definitely …
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2 June 2021 12:35 pm
The Dollar Catches a Breath After The Growth of US Industrial Production
The dollar clung to its slight gains during Wednesday, June 2, rising from its lowest levels in nearly five months against other major currencies, as the improvement in industrial production in the United States led to continued speculation that the Federal Reserve would return to adopting usual policies quickly. The …
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2 June 2021 4:03 am
Wall Street Closes Mixed on Economic Data and Rise in Treasury Yields
The New York Stock Exchange (NYSE) finished Tuesday’s trading session on a mixed note, failing to maintain its earlier gains that came on the back of positive expectations in Wall Street due to the release of positive economic data. Positive reading of the ISM manufacturing sector’s PMI helped technology stocks …
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2 June 2021 3:55 am
Oil Futures Score Gains Following OPEC+ Summit
Oil futures registered gains on Tuesday, with markets positively reacting to the Organization of the Petroleum Exporting Countries’ (OPEC) and its OPEC+ allies deciding to commit to the current easing cycle of output cuts that was agreed in response to the Coronavirus crisis. Brent crude futures for August delivery gained …
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2 June 2021 3:33 am
U.S. Labor Market Showing Conflicting Signs – San Francisco Fed
The labor market in the United States might be showing some positive signs as the economy recovers from the coronavirus pandemic, but it remains to be challenged by some problems some of which might be unnoticed. A paper by the Federal Reserve Bank of San Francisco showed on Tuesday that …
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2 June 2021 2:27 am
Gold Futures Close Marginally Lower
Gold prices registered small losses on Tuesday, maintaining the $1,900 level, as the U.S. Dollar (USD) declined across the board. The yellow metal futures for August delivery closed lower by 30 cents, or 0.02%, at $1,905 per ounce. A rise in U.S. Treasury bond yields impacted gold’s trading today, following …
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1 June 2021 11:00 pm
Brainard Expects More Progress in Achieving Fed’s Targets
The United States Federal Reserve Governor, Lael Brainard, said on Tuesday that there is progress towards achieving the central bank’s maximum employment and 2% inflation targets. However, Brainard pointed to the challenge of not tightening monetary policy sooner than needed. “We are seeing welcome progress, and I expect to see …
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1 June 2021 9:24 pm
BoE Governor Warns Against Disorderly Shift to Green Energy
The case for financial institutions dedicating more capital to climate risks is yet to be clearly established, the Bank of England (BoE) Governor, Andrew Bailey, said on Tuesday. Baily warned that disorderly moving away from fossil fuels could disrupt markets and lead to a surge in inflation. “A disorderly transition, …
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1 June 2021 8:18 pm
Dallas Fed Manufacturing Activity Index Slows in May
Factory activity in Texas expanded at a slower pace last month, according to the latest data by the Federal Reserve Bank of Dallas. The Texas Manufacturing Outlook Survey results showed on Tuesday that the production index decreased by 18 points to 15.7 in May. The new orders index registered a …
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