Gold prices rose 1% on Tuesday after it crossed the $1,800 barrier, supported once again by a weak dollar, as investors’ eyes turned to the minutes of the Federal Reserve’s June meeting to elicit more indications about the monetary policy decision. Spot gold rose 0.8 percent to $1,805.51 an ounce …
Read More »Weekly market wrap: FOMC minutes are looming amid trade fears
Three things dictated price action in financial markets last week, including reaching a trade deal b…
EUR/USD Holds Steady Amid Tariff Tensions, Eyes Turn to EU Economic Data
Modest Gains Amid Holiday-Thinned TradingThe EUR/USD pair edged up by 0.18% on Friday, trading at 1.…
Global Markets Wobble as Trump’s Tariff Deadline Draws Near
Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s Jul…
Sterling Falters Against Yen Amid Tariff Fears and UK Political Strife
The British Pound (GBP) weakened against the Japanese Yen (JPY), with GBP/JPY slipping below 197.61,…
WTI Crude Oil Stalls Near $65 as OPEC+ and Tariff Uncertainties Loom
West Texas Intermediate (WTI) Crude Oil prices hovered near $65.70, down 0.82%, reflecting cautious …
Gold Shines Amid Tariff Threats and U.S. Dollar Weakness
Gold (XAU/USD) climbed above $3,330, driven by a weakening U.S. Dollar and renewed concerns over U.S…
U.S. Dollar Edges Lower Ahead of Trade Deadline Amid Fiscal and Market Uncertainty
The U.S. dollar saw a slight dip on Friday after a brief rally earlier in the week, with attention n…
Markets Brace for U.S. Tariff Deadline Amid Growing Optimism
As investors turn their attention to Washington’s tariff negotiations next week, the expiratio…
European Stocks Slip Amid Uncertainty Ahead of U.S. Trade Deadline and Ongoing Tariff Concerns
European stocks ended the week on a negative note, slipping lower on Friday as uncertainty grew over…
Bitcoin Struggles as U.S. Trade Tariffs Loom and Rate Cut Bets Fade
Bitcoin prices steadied on Friday after a sharp reversal of recent gains, as traders focused on the …
Market Analysis
July, 2021
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6 July 2021 1:59 pm
US Crude Jumps to The Top of 2014 After The Disagreement of OPEC + Producers
Oil prices jumped to their highest levels in several years, and saw US crude reach its highest level since 2014, after OPEC + producers disagreed about plans to increase supplies in the face of rising global demand. Brent crude jumped 62 cents, or 0.8 percent, to $77.78 a barrel after …
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6 July 2021 1:25 pm
European Shares Fall After 3 Sessions of Gains
European shares fell in early trading after gains over three sessions, as a jump in commodity shares was offset by weak trading in Asia and a sudden drop in industrial orders in Germany. The pan-European Stoxx 600 index fell 0.1%, with auto stocks recording the biggest decline. Data showed that …
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6 July 2021 12:49 pm
Japan’s Nikkei Rises With SoftBank’s Recovery
The Nikkei index closed slightly higher on the Tokyo Stock Exchange on Tuesday, with the recovery of SoftBank and Fast Retailing shares, but fears of a possible increase in Coronavirus infections during the Olympic Games capped gains. The Nikkei gained 0.16 percent to record 28,643.21 points, giving up an early …
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6 July 2021 8:11 am
Goldman Sachs Predicts Winner of Euro 2020
Goldman Sachs predicts that England will win the Euro 2020 football tournament, according to recent reports about the bank’s probability model, CNBC reported. The model shows England’s chance of qualifying to the final is 57.7% and 31.9% in winning the cup, followed in the latter by Spain and Italy with …
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6 July 2021 12:52 am
Bitcoin Returns to Losses on Independence Day
Bitcoin declined on Monday by about 5% to $33,857, erasing most of its recent gains, amid relatively thin trade with the U.S. on a holiday with a long weekend, celebrating Independence Day. The world’s biggest cryptocurrency in terms of market capitalization dropped by 41% during the second quarter (Q2) of …
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5 July 2021 11:22 pm
Oil Surges as OPEC+ Calls Off Meeting without Decision
Oil prices surged on Monday, for the fifth consecutive session, with markets anticipating the outcomes of the ongoing OPEC+ negotiations regarding output cuts. Brent crude futures for September delivery gained 99 cents, or 1.30%, to close at $77.16 per barrel, to log a new highest closing level since October 29, …
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5 July 2021 10:01 pm
China’s Crackdown on Tech Firms Continue
China continues with severe measures against tech platforms, especially U.S.-listed firms, after the removal of Didi Chuxing from Chinese app stores. Authorities in Beijing have reportedly announced investigating Boss Zhipin, Yunmanman, and Huochebang, the Financial Times reported. It is worth pinpointing that Didi Chuxing is considered China’s biggest ride-hailing company. …
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5 July 2021 9:20 pm
European Stocks Rebound From Earlier Losses at Close
European stocks finished higher for the third consecutive session on Monday, rebounding from earlier losses to begin the week with a positive performance, despite concerns about the new variants of the coronavirus. The pan-European STOXX 600 index rose by 1.55 points, or 0.34%, to close at 458.36 points. This marked …
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5 July 2021 7:46 pm
BoC Survey Shows Improvement in Business Sentiment
Hiring plans among Canadian businesses surged to an all-time high, according to the most recent Bank of Canada (BoC) Business Outlook Survey. The majority of businesses have plans for hiring in the coming 12 months, due to expectations for demand recovery and faster sales growth as lockdown measures are eased. …
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5 July 2021 6:52 pm
UK’s Johnson Reveals Plans to Ease Lockdowns
Prime Minister Boris Johnson on Monday said that the United Kingdom is in its final steps towards easing lockdown measures. A decision is expected to be taken on July 12, with the Freedom Day, on which the long-term plan to ease restrictions will occur could take place on July 19, …
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5 July 2021 6:04 pm
ECB: Bought Net €13.17 Billion of Assets Last Week
The European Central Bank (ECB) announced on Monday that it bought a net 13.17 billion euros of assets last week as part of its quantitative easing program, compared to 31.9 billion euros a week earlier, as reported by Reuters. “ECB bought a net 453 mln euros of corporate bonds in …
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5 July 2021 5:09 pm
The US Dollar Trading Negative on Rate Hike Fears
The dollar fell against a basket of major currencies during Monday’s trading, after hitting a rapid rally when a batch of mixed US business data last week led to investors’ worries about a faster end to monetary stimulus. While the headline jobs figures for June beat expectations, unemployment rates rose …
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