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Market Analysis

June, 2021

  • 22 June 2021 5:02 pm

    U.S: Philly Fed Nonmanufacturing Index Improves in June

    The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved decisively to 59.6 in June from 36.9 in May.

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  • 22 June 2021 4:42 pm

    Bitcoin Plunges Below $30,000, Its Lowest Since Late January

    Bitcoin plunged 5.8% during the session, reaching its lowest level since late January to below $30,000 Cryptocurrency bitcoin plunged below $30,000 for the first time in nearly five months, weighed down by China’s recent crackdown on cryptocurrencies. The world’s largest cryptocurrency fell 6.4% to $29,614, its lowest since Jan. 27. …

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  • 22 June 2021 3:31 pm

    Two Sources to Reuters: OPEC+ is Considering a Gradual Increase in Production From August

    OPEC

    Two sources with Reuters knowledge of the OPEC + group talks today, Tuesday, said that the group is considering another gradual increase in oil production from August as oil prices rise thanks to the recovery in demand, but it has not yet made a decision on the exact size. The …

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  • 22 June 2021 3:00 pm

    Bitcoin Makes up For Some of Its Losses in Asia

    Bitcoin recouped some of its losses on Tuesday, a day after hitting a two-week low after the People’s Bank of China (the central bank) confirmed its crackdown on cryptocurrencies in the country and its restriction of its circulation channels among the population. The world’s largest cryptocurrency was last up 3% …

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  • 22 June 2021 2:06 pm

    The Dollar Catches a Breath Before The Fed’s Testimony

    The US dollar paused for breath on Tuesday, as traders awaited testimony by Federal Reserve Chairman Jerome Powell for more guidance on the recent sudden shift in central bank policy expectations. The dollar has made significant gains since the Federal Reserve indicated last week to raise interest rates earlier than …

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  • 22 June 2021 1:20 pm

    European Shares Rise And Recovery Hopes Lift Banks And Mining Sectors

    European shares rose to record levels today, as optimism about economic recovery from the Covid-19 pandemic led by the stimulus outweighed fears of global central banks tightening monetary policy earlier than expected. The pan-European STOXX 600 index rose 0.1%, with gains led by shares that are sensitive to the economy, …

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  • 22 June 2021 12:44 pm

    Oil Rises on Optimism About a Quick Recovery in Global Demand

    Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained optimistic about a quick recovery in global oil demand and as concerns eased about an early return of Iranian crude. Brent crude futures for August delivery rose 29 …

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  • 22 June 2021 12:25 pm

    Gold Rises Thanks to Weak Dollar Before Powell’s Testimony

    Gold rose today as the bullish trend of the US dollar stalled, which increased the attractiveness of the yellow metal ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress. Spot gold rose 0.3% to $1,787.80 an ounce), after rising 1% in the previous session. And the yellow metal rose …

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  • 22 June 2021 3:58 am

    Fed Officials Continue to Signal Tapering is Not Happening Soon

    The Chairman of the U.S. Federal Reserve, Jerome Powell, has on Monday expressed no intention to begin tapering very soon as the economy continues to recover from the Coronavirus pandemic. Powell reiterated the central bank’s commitment to supporting the economy during recovery, as he was speaking in front of the …

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  • 22 June 2021 3:41 am

    Fed’s Williams Expects 2% Inflation Next Year

    President of the Federal Reserve Bank of New York, John Williams, said that the Fed has set a slow start to easing its asset purchases. Speaking on Monday to a bankers event, Williams said he believes the U.S. economy is yet to achieve the substantial further progress needed to begin …

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  • 22 June 2021 1:50 am

    EUR/USD Recovers and Restores 1.1920 Level

    Eurozone

    The Euro (EUR) rose against the U.S. Dollar (USD) on Monday after falling for three consecutive sessions. Profit-making and uncertainty about the infrastructure spending plan are weighing on the USD, with markets still digesting the change in tone by the U.S. Federal Reserve. The EUR/USD pair gained 0.47% and reached …

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  • 22 June 2021 1:34 am

    GBP/USD Snaps Four-Session Losing Streak

    The British Pound (GBP) rose on Monday against a retreating U.S. Dollar, after declining for four consecutive sessions. Recent losses by the GBP/USD pair came mostly due to the surprising hawkish change in tone by the Federal Reserve, which prompted increased demand for the green back. In addition, uncertainty on …

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  • 22 June 2021 1:29 am

    USD/JPY Resumes Gains After Two Declines in Row

    The U.S. Dollar (USD) rebounded against the Japanese Yen (JPY) on Monday, after declining for two consecutive sessions. The USD/JPY pair registered a modest rise of 0.09%, reaching the level of 110.33. Month-to-date, the pair rose by about 0.68%, with its gains since the beginning of the year at 6.79%. …

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