Home sales in the United States continued to decline for the fourth consecutive month during May, data showed on Tuesday. Existing home sales fell by 0.9% last month to a seasonally adjusted annual rate of 5.80 million units, according to the National Association of Realtors. Resale activity soared by 44.6% …
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
June, 2021
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22 June 2021 5:57 pm
Switzerland: Current Account Surplus Widens in The First Quarter of 2021
The Swiss National Bank announced today, Tuesday, that Switzerland achieved a current account surplus of 16 billion Swiss francs (17.40 billion dollars) in the first quarter of 2021, 6 billion francs more than it was in the previous quarter. The weakness of the Swiss franc against the dollar since the …
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22 June 2021 5:02 pm
U.S: Philly Fed Nonmanufacturing Index Improves in June
The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved decisively to 59.6 in June from 36.9 in May.
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22 June 2021 4:42 pm
Bitcoin Plunges Below $30,000, Its Lowest Since Late January
Bitcoin plunged 5.8% during the session, reaching its lowest level since late January to below $30,000 Cryptocurrency bitcoin plunged below $30,000 for the first time in nearly five months, weighed down by China’s recent crackdown on cryptocurrencies. The world’s largest cryptocurrency fell 6.4% to $29,614, its lowest since Jan. 27. …
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22 June 2021 3:31 pm
Two Sources to Reuters: OPEC+ is Considering a Gradual Increase in Production From August
Two sources with Reuters knowledge of the OPEC + group talks today, Tuesday, said that the group is considering another gradual increase in oil production from August as oil prices rise thanks to the recovery in demand, but it has not yet made a decision on the exact size. The …
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22 June 2021 3:00 pm
Bitcoin Makes up For Some of Its Losses in Asia
Bitcoin recouped some of its losses on Tuesday, a day after hitting a two-week low after the People’s Bank of China (the central bank) confirmed its crackdown on cryptocurrencies in the country and its restriction of its circulation channels among the population. The world’s largest cryptocurrency was last up 3% …
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22 June 2021 2:06 pm
The Dollar Catches a Breath Before The Fed’s Testimony
The US dollar paused for breath on Tuesday, as traders awaited testimony by Federal Reserve Chairman Jerome Powell for more guidance on the recent sudden shift in central bank policy expectations. The dollar has made significant gains since the Federal Reserve indicated last week to raise interest rates earlier than …
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22 June 2021 1:20 pm
European Shares Rise And Recovery Hopes Lift Banks And Mining Sectors
European shares rose to record levels today, as optimism about economic recovery from the Covid-19 pandemic led by the stimulus outweighed fears of global central banks tightening monetary policy earlier than expected. The pan-European STOXX 600 index rose 0.1%, with gains led by shares that are sensitive to the economy, …
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22 June 2021 12:44 pm
Oil Rises on Optimism About a Quick Recovery in Global Demand
Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained optimistic about a quick recovery in global oil demand and as concerns eased about an early return of Iranian crude. Brent crude futures for August delivery rose 29 …
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22 June 2021 12:25 pm
Gold Rises Thanks to Weak Dollar Before Powell’s Testimony
Gold rose today as the bullish trend of the US dollar stalled, which increased the attractiveness of the yellow metal ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress. Spot gold rose 0.3% to $1,787.80 an ounce), after rising 1% in the previous session. And the yellow metal rose …
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22 June 2021 3:58 am
Fed Officials Continue to Signal Tapering is Not Happening Soon
The Chairman of the U.S. Federal Reserve, Jerome Powell, has on Monday expressed no intention to begin tapering very soon as the economy continues to recover from the Coronavirus pandemic. Powell reiterated the central bank’s commitment to supporting the economy during recovery, as he was speaking in front of the …
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22 June 2021 3:41 am
Fed’s Williams Expects 2% Inflation Next Year
President of the Federal Reserve Bank of New York, John Williams, said that the Fed has set a slow start to easing its asset purchases. Speaking on Monday to a bankers event, Williams said he believes the U.S. economy is yet to achieve the substantial further progress needed to begin …
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22 June 2021 1:50 am
EUR/USD Recovers and Restores 1.1920 Level
The Euro (EUR) rose against the U.S. Dollar (USD) on Monday after falling for three consecutive sessions. Profit-making and uncertainty about the infrastructure spending plan are weighing on the USD, with markets still digesting the change in tone by the U.S. Federal Reserve. The EUR/USD pair gained 0.47% and reached …
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