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Market Analysis

November, 2021

  • 23 November 2021 4:56 pm

    The Dollar is at a 16-Month High, With a US Interest Rate Hike Expected in 2022

    The dollar index rose to its highest level in 16 months and its strongest level in more than four years against the yen after the nomination of Federal Reserve Chairman Jerome Powell for a second term in office, which reinforced market expectations of higher US interest rates in 2022.The exchange …

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  • 23 November 2021 3:39 pm

    Gold Falls More Than 2% After Powell

    Gold prices fell more than 2% today, Monday, as the US dollar jumped after the re-nomination of Federal Reserve Chairman Jerome Powell for a second term, This fueled expectations that the US central bank would continue the Fed policy. Gold in spot transactions was down 2.08% at $ 1806.20 an …

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  • 23 November 2021 2:39 pm

    European Shares Fall Due to Higher Covid-19 Cases

    European shares fell to a three-week low on Tuesday, November 23, after a resurgence of Covid-19 cases and concerns about interest rate hikes dampened sentiment ahead of flash readings on business activity in the eurozone. The European STOXX600 index fell by 1% after Asian markets followed Wall Street’s lead in …

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  • 23 November 2021 1:41 pm

    Market Drivers – Asian Session 23-11-2021

    The Manufacturing PMI in Eurozone’s economic powerhouse came in at 57.6 this month vs. 56.9 expected and 57.8 prior. The index hit fresh ten-month lows. Services PMI reached two-month highs of 53.4 in November as against 51.5 estimated and 52.4 previous. The Eurozone manufacturing sector activity improved more than expected …

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  • 23 November 2021 1:09 pm

    Oil is Falling Amid Talk of Releasing Quantities of Strategic Reserves

    Oil prices fell on Tuesday after rising in the previous session, as a result of talk that the United States, Japan, and India will release crude oil reserves to bring prices down, despite the risk of faltering demand due to the spread of coronavirus cases in Europe. A source familiar …

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  • 23 November 2021 4:43 am

    Market Drivers – US Session- 22-11-2021

    Finally, oil prices are rebounding from recent losses, on the back of reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand. This marks the latest development in the market after weeks long tug-of-war …

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  • 23 November 2021 4:08 am

    Yellen: Not Worried About A 1970s Inflation Replay

    Janet Yellen

    “Price pressures to subside as life normalizes in 2022,” US Treasury Secretary Janet Yellen said while crossing wires during late Monday night. The policymaker expected, “Monthly CPI around 0.2% to 0.3% in H2 of 2022.” Earlier, US Treasury Secretary Yellen spoke during a CNBC interview while saying, “Inflation has reached …

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  • 23 November 2021 4:04 am

    Bostic: Fed Should Consider How Fast To Taper

    Atlanta Fed’s Raphael Bostic said on Monday night interview on Bloomberg TV that faster taper would give the US more optionality, but “we still have a COVID economy, he added.Given the mixed comments and Wall Street’s latest mild reaction, as S&P 500 Futures printed 0.14% intraday gains following the comments …

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  • 23 November 2021 3:53 am

    Wonderful Week With Good News for US Dollar

    The US dollar soared against all major currencies after President Biden officially re-nominated Jerome Powell as Fed Chair and Lael Brainard will become Vice Chairman when Richard Clarida’s term ends in January. Greenlight for Policy Normalization When it comes to heads of central banks, investors generally prefer continuity which explains …

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  • 23 November 2021 2:55 am

    Afternoon Slump Leaves Major US Indexes Lower

    An uneven trading session on Wall Street closed with stocks mostly lower Monday, as a late afternoon burst of selling derailed the market from a fresh all-time high.The S&P 500 fell 0.3% after having been up as much as 1% earlier in the day and on pace to eclipse the …

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  • 23 November 2021 2:03 am

    Gold Retreats on Powell’s Reappointment News

    Gold prices have put in an aggressively retreating move Monday, seemingly driving on the news that Fed Chair Jerome Powell has been reappointed for a second term.While few would consider Chair Powell as a hawk, the fact that this move has printed so cleanly off of that headline indicates that …

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  • 23 November 2021 1:48 am

    EUR/GBP Volatility To Hike Ahead Fresh PMIs Data

    EUR/GBP has been rangebound on Monday within 0.8380-0.8400ish parameters with market attention predominantly elsewhere.The market is expected to heat up starting Tuesday with the release of fresh figures by UK and Eurozone PMIs.the Forex market’s focus has been on USD crosses on Monday, amid a broad strengthening of the dollar …

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  • 23 November 2021 1:18 am

    Bitcoin Miners Flock to Texas

    Everything is bigger in Texas. Problems with its electric grid and energy demand for bitcoin is no exception. A new analysis shows that the electric grid is just as vulnerable to crises and blackouts as it was before February’s blackouts just as the state is gearing up to turn into …

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