Oil prices continued to decline on Tuesday, posting huge losses in early trades during the American session. Concerns about renewed lockdowns in Europe, especially France and Germany, are negatively impacting the outlook for demand recovery. Last Saturday, France announced a major four-week lockdown to combat the spread of the virus, …
Read More »Dow Roars Back: 600-Point Surge Amid Economic Uncertainty
Equities rebound from recent plunge, but trade tensions and soft retail data cast a long shadow.The …
Dollar Drifts as Geopolitical and Policy Storm Clouds Gather
A week of potentially historic significance opens with the US Dollar easing, as markets brace for a …
Gold Prices Still Soaring Above $ 3,000 Barrier
Gold prices have continued their upward trajectory since the start of trading on Monday, following t…
Consumer Caution: Retail Sales Underwhelm Amid Economic Uncertainty
A note of caution has sounded within the US economy as retail sales for February fell short of expec…
U.S. Stock Futures Decline Amid Trade Tariff Uncertainty
U.S. stock index futures dropped on Monday as investor concerns grew over the potential economic imp…
Oil Prices Rise Amid U.S. Strikes on Houthis and Strong Chinese Data
Oil prices traded higher on Monday as the U.S. vowed continued strikes on Yemen’s Houthis, while Chi…
European Stocks Gain Amid German Debt Deal, U.S.-EU Trade War Looms
European stock markets edged higher on Monday, supported by optimism over a historic German debt dea…
Gold Prices Dip After Record Surge, Market Eyes Tariffs & Economic Risks
Gold prices edged lower in Asian trade on Monday, following a record-breaking rally, as investors ba…
Bitcoin Drops as Traders Brace for Federal Reserve Decision
Bitcoin (BTC) fell on Monday, extending its weekly decline as investors remained cautious ahead of t…
Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Market Analysis
March, 2021
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23 March 2021 7:09 pm
U.S. New Home Sales Decline 18% in February
New home sales in the United States declined by 18.2% in February to 775,000, compared with their level in January, data by the U.S. Census Bureau showed on Tuesday. On an annual level, new home sales rose by 8.2% last month, compared with their level in February 2020. Data further …
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23 March 2021 7:03 pm
Wall Street Declining Ahead of Powell and Yellen Speeches
The main indices of the New York Stock Exchange (NYSE) opened Tuesday on a lower note, with the market anticipating new signals from upcoming remarks from the Chairman of the U.S. Federal Reserve, Jerome Powell, and Treasury Secretary Janet Yellen. Remarks are set to discuss the prospects of inflation and …
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23 March 2021 6:01 pm
The US Current Account Deficit Jumps to a 12-Year High in 2020
The current account deficit in the United States accelerated to a 12-year high in 2020, as the Covid-19 pandemic severely affected the flow of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services, and investments into and out of the …
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23 March 2021 5:27 pm
The British Trade Minister Discusses a Trade Agreement With Her American Counterpart
The office of British Trade Secretary Lise Truss said that she discussed progress toward a free trade agreement with the United States during talks with her US counterpart on Monday, pointing to the need for closer economic relations between the two countries. Truss’s office said she telephoned Catherine Tay to …
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23 March 2021 4:52 pm
US: Philly Fed Nonmanufacturing Index Jumps to 38.6 in March From 3.9
The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey rose sharply to 38.6 in March from 3.9 in February. Further details of the publication revealed that the Firm-level Business Activity Index improved to 33.5 from 7.5 and the Full-time Employment Index edged higher …
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23 March 2021 4:19 pm
Currencies Overview: Dollar Stumbles as US Treasury Yields Decline
The US dollar fell from its highest in four months against a basket of currencies on Monday, matching a drop in US Treasury yields. The dollar index fell 0.34% to 91.780 at the end of the trading session, after gaining 0.5% last week. The US Treasury yield fell today from …
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23 March 2021 3:21 pm
UK: CBI Manufacturing Order Book Balance Rises to Highest Level Since April 2019
The data from the UK showed on Friday that the CBI’s Manufacturing Order Book Balance improved sharply to its highest level since April 2019 at -5 in March from -24 in February. This reading beat the market expectation of -20 by a wide margin. Further details of the publication revealed …
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23 March 2021 2:32 pm
Barclays Bank Raises Its Forecast For Oil Prices as Major Producers Are Cautious
Barclays raised its forecast for oil prices this year at $4 a barrel, indicating that major producers are cautious about oversupply as demand recovers gradually from the recession caused by the pandemic. The bank now expects a price for Brent crude at $66 a barrel and for US West Texas …
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23 March 2021 1:56 pm
Oil Falling as Demand Hit by Corona Restrictions in Europe
Oil prices fell 1% on Tuesday (March 23rd), as they were hit by fears that new restrictions imposed to combat the Coronavirus pandemic and the slow distribution of vaccines in Europe will slow down the recovery in demand, while producers cut production in a sign of abundant supplies. US West …
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23 March 2021 1:18 pm
The UK Unemployment Rate Fell Unexpectedly to 5% From 5.1%
Official figures showed, Tuesday, March 23, that the unemployment rate in Britain fell unexpectedly to 5% in the three months ending in January, when the country entered again into general isolation measures to confront the outbreak of the Coronavirus, below expectations for a rise to 5.2% in a poll conducted …
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23 March 2021 12:35 pm
Japan Shares Closed Lower Affected by US Bond Yields
Japan shares gave up early gains to close on Tuesday, March 23rd lower, following a weak performance in China markets as investors reaped profits from the recent rise of some companies on the mainland, while risk appetite was weakened by fluctuations in US bond yields. The Nikkei index fell 0.61% …
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23 March 2021 10:37 am
Germany Raises Its Pandemic-Related Borrowing Plans to More Than 450 Billion Euros
Monday, a document showed that Germany is expected to continue a huge deficit in spending in light of the Covid-19 pandemic, with a debt-funded supplementary budget of about 60 billion euros for the current year and a draft budget for 2022 with new net debt of 81.5 billion euros. The …
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