Non-farm Payrolls is due on Friday, July 2 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 3 major banks ING “Consensus is paring its expectations down from million-plus figures last month to 700K now. Our house …
Read More »Will Cracks Emerge in US-Japan Trade Deal?
Discrepancies Over Investment and Profits:A seemingly triumphant announcement of a preliminary trade…
Gold Miner Shines: Earnings Soar as Precious Metal Prices Climb
Shares of a leading gold mining company surged on Friday, reaching their highest level in three year…
Political Firewalls Weaken: Are Powell’s Stance, Fed’s Independence Still Under Threat?
A significant shift is underway in the political landscape surrounding the Federal Reserve. While Pr…
Dow Jones Rebounds: Unexpected Durables Strength and Tariff Hopes Fuel Market Rally
The Dow Jones Industrial Average (DJIA) demonstrated a notable recovery on Friday, clawing back rece…
Oil Under Pressure: Brent and WTI Drop as Supply Surges and Demand Outlook Clouds
Global oil markets are facing renewed pressure, with both West Texas Intermediate (WTI) and Brent cr…
US Treasury Yields Climb As Countdown For Fed’s Policy Meeting Begins
As financial markets gear up for the central bank’s pivotal meeting next week, the US 10-Year …
Euro Stands Strong Amidst Global Trade Disputes
The Euro has demonstrated remarkable resilience in recent months, emerging as a top performer among …
Major Trade Breakthrough: EU and US Nearing Framework Agreement This Weekend
Optimism is building for a significant advancement in transatlantic trade relations, as officials fr…
U.S. Stock Futures Edge Higher as Investors Digest Earnings and Trade Deal Optimism
U.S. stock index futures were on the rise Friday, capping off a generally positive week as investors…
Bitcoin Drops Below $116,000 as Caution Mounts Ahead of U.S. Fed Meeting and Crypto Policy Report
Bitcoin faced a decline on Friday, dropping below $116,000 amidst growing caution in the market. The…
Market Analysis
July, 2021
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2 July 2021 12:15 pm
Nikkei Closes Higher With Support From Sony and Toyota
Japan’s Nikkei closed higher on Friday, July 2, as gains in export-focused Sony and Toyota Motor Group offset by a weaker yen in chip-related stocks, but the index closed lower for the week on concerns about new infections with the Coronavirus. The Nikkei index rose 0.27% to 28,783.28 points, after …
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2 July 2021 3:27 am
USD Maintains Gains Below Three-Month Highs
The U.S. Dollar hit a three-month high on Thursday, with markets reacting positively to recent economic data and anticipating the release of Friday’s nonfarm payrolls report. The Dollar index (DXY), which measures the greenback’s performance against a basket of six major international currencies, rose above 92.60 for the first time …
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2 July 2021 1:26 am
Wall Street Begins H2 with More Record-Breaking
The New York Stock Exchange (NYSE) finished higher on Thursday, opening July and the second half of the year with another record-breaking performance, with Wall Street investors optimistic about the upcoming jobs report. Recent economic data showed progress on the road to recovery from the coronavirus pandemic, with the drop …
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1 July 2021 11:37 pm
Oil Surges Despite OPEC Delayed Decision on Output Policy
Oil prices surged on Thursday, amid anticipation for the outcomes of the OPEC+ ministerial meeting, which is expected to announce tomorrow its decision on output policy for August and beyond. The decision has now been delayed twice from Wednesday to Friday, amid discussion about easing production cuts by about 400,000 …
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1 July 2021 10:36 pm
Gold Finishes Higher for Second Day
Gold prices rose on Thursday for the second consecutive session, amid the U.S. Dollar (USD) continued rise to its highest level in about three months, on the back of positive economic data. Gold futures for August delivery increased by $5.20, or 0.30%, to close at $1,776.80 per ounce. Over the …
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1 July 2021 9:58 pm
OPEC+ Delays Decision on Output Policy
The OPEC+ alliance ministerial meeting decided to delay the decision on output policy until Friday, according to recent media reports. It was reported that the alliance was near an agreement on raising production levels by about two million barrels per day between August and December through an increase of about …
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1 July 2021 8:45 pm
Why Are Oil Prices Rising Despite Expectations for Another OPEC Output Hike?
The OPEC+ alliance is expected to decide on another production increase for the coming months during its meeting on Thursday. Despite media reports pointing to another output increase, crude prices are surging with the global and U.S. benchmark crude futures rising by about $2 earlier. Brent and Nymex futures remain …
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1 July 2021 7:44 pm
U.S. Construction Spending Falls Unexpectedly in May
Construction spending in the United States declined last month against market expectations, despite the increasing private homebuilding activity, amid decline in public and nonresidential, data showed on Thursday. Construction spending fell by 0.3% in May, following a slight increase of 0.1% in April, according to the U.S. Department of Commerce. …
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1 July 2021 7:38 pm
U.S. Manufacturing Activity Expands in June at Slower Pace
Manufacturing activity in the U.S. expanded last month, however, employment declined for the first time in seven months, data showed on Thursday. The manufacturing purchasing managers’ index (PMI) leveled down to 60.6 in June, from 61.2 in May, according to the Institute for Supply Management (ISM). The PMI reached its …
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1 July 2021 7:18 pm
U.S. Manufacturing PMI Stable in June – IHS Markit
Manufacturing activity in the United States stabilized in June, according to recent data. The seasonally adjusted IHS Markit U.S. Manufacturing Purchasing Managers’ Index (PMI) registered 62.1 in June, maintaining its reading in May. However, the reading came below the previous flash estimate of 62.6. Operating conditions registered its best improvement, …
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1 July 2021 6:00 pm
The S&P 500 Starts The 2nd Half of 2021 at a New Peak
The S&P 500 index started the second half of the year at record levels on Thursday after data showed that the number of weekly applications for unemployment benefits came in less than expected, while Walgreens shares gained after the company raised its forecast for annual profits. The S&P 500 index …
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1 July 2021 4:47 pm
US: Weekly Initial Jobless Claims Dropped to 364K
There were 364,000 initial claims for unemployment benefits in the US during the week ending June 26, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 393,000 and followed the previous print of 415,000.
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