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Market Analysis

May, 2021

  • 14 May 2021 10:53 am

    Bitcoin Drops More Than 13% After Tesla Stopped Accepting it to Buy Its Cars

    Bitcoin

    Bitcoin fell more than 13% to trade at the $49,000 level after Elonmask announced that Tesla had stopped selling cars using the Bitcoin. CEO Elon Musk said in a tweet that Tesla has Accepting bitcoin in buying cars, fearing an increase in the use of fossil fuels in coin mining. …

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  • 14 May 2021 10:49 am

    Oil Continues to Suffer Losses Due to Covid-19 Cases in India And The Resumption of Work of a Major US Pipeline

    Oil prices fell on Friday, May 14, after losing about 3% in the previous session, as cases of Coronavirus cases remained high in India, a major consumer of crude, and with the resumption of work of a major pipeline in the United States after being closed due to a cyberattack. …

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  • 13 May 2021 1:10 am

    U.S. Treasury Yields Surge to Two-Month High

    Treasury bond yields in the United States continued to rise for the fourth consecutive session on Wednesday, as a rise in inflation is reducing demand for long-term debt instruments. The benchmark 10-year Treasury bond yield registered its biggest daily increase since March 18, rising by 0.071 to 1.695% Meanwhile, the …

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  • 12 May 2021 8:03 pm

    U.S. Inflation Surges to Highest Level since 2008

    Consumer prices in the United States surged during April, leading to the highest rise in the inflation rate in more than 12 years, data showed on Wednesday. The Consumer Price Index (CPI) increased by 4.2% last month, according to official data by the U.S. Department of Labor. This marked the …

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  • 12 May 2021 2:10 am

    USD Declines Despite Rising Treasury Yields

    The U.S. Dollar (USD) showed a mostly negative performance on Tuesday, as investors seek safe haven assets due to concerns about a rise in inflation rates. The Dollar Index (DXY) that measures the greenback’s performance against a basket of six major international currencies, is down by 0.04% at 90.17. The …

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  • 12 May 2021 1:56 am

    Oil Closes Higher amid Downstream Disruptions

    Oil prices rose on Tuesday, amid disruptions due to the cyber attack on the Colonial Pipeline in the United States, which plays a huge role in the distribution of gasoline across the U.S. Crude prices fluctuated during the second session of the week, before settling with limited gains. Brent crude …

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  • 12 May 2021 12:09 am

    Fed’s Harker Says Recovery Needs More Time

    The President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Tuesday that the U.S. economy needs more time to recover before reducing the current pace of asset purchases. “I don’t want to change a whole lot until we’re clear of this ditch we’ve dug ourselves into with …

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  • 12 May 2021 12:06 am

    Fed’s Brainard Stresses Patience in Policy Stance

    The United States Federal Reserve Governor, Lael Brainard, said on Tuesday that the U.S. economy is recovering but remains challenged by uncertainty, reiterating the need for patience in monetary policy. “The outlook is bright, but risks remain, and we are far from our goals.”“Basing monetary policy on outcomes rather than …

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  • 11 May 2021 11:30 pm

    Gold Declines from Three-Month Highs

    Gold prices declined on Tuesday, following four consecutive rises, amid an increase in Treasury bond yields in the United States. The yellow metal futures for June delivery closed marginally lower by $1.50 at $1,836.10 per ounce. The decline comes after gold’s most active contract rose on Monday to its highest …

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  • 11 May 2021 9:30 pm

    European Stocks Bear Highest Loss of the Year

    European stocks fell on Tuesday, after rising yesterday to a new record high, due to increased selling pressures amid fears of a rise in inflation and concerns about the rising number of coronavirus cases. The STOXX Europe 600 index plunged by 1.97%, as travel and leisure stocks fell by 5.7%. …

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  • 11 May 2021 7:08 pm

    U.S. Job Openings Surge in March

    Job openings in the United States surged to a new record high in March, data by the U.S. Department of Labor showed on Tuesday. New job openings rose by 597,000, or 8%, to 8.12 million last month, compared with their level in February, according to the Job Openings and Labor …

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  • 11 May 2021 5:02 pm

    Commodity Gains Capped The Dollar Ahead of The Inflation Data, AUD at 2-Month High

    USD

    The dollar stabilized near its lowest level in several months today, Tuesday, as high commodity prices supported the currencies of exporting countries, but caution about US inflation data that may lead to early interest rate hikes prevented the dollar’s ​​decline. The Australian dollar moved at its highest level in two …

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  • 11 May 2021 3:53 pm

    OPEC Leaves Its Forecast For Oil Demand in 2021 as It Is!

    OPEC

    In its latest monthly report, the Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth for 2021 unchanged at 5.95 million barrels per day, according to Reuters. While OPEC lowered its forecast for global oil demand in the second quarter of 2021 by 300 …

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