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Market Analysis

June, 2021

  • 22 June 2021 1:34 am

    GBP/USD Snaps Four-Session Losing Streak

    The British Pound (GBP) rose on Monday against a retreating U.S. Dollar, after declining for four consecutive sessions. Recent losses by the GBP/USD pair came mostly due to the surprising hawkish change in tone by the Federal Reserve, which prompted increased demand for the green back. In addition, uncertainty on …

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  • 22 June 2021 1:29 am

    USD/JPY Resumes Gains After Two Declines in Row

    The U.S. Dollar (USD) rebounded against the Japanese Yen (JPY) on Monday, after declining for two consecutive sessions. The USD/JPY pair registered a modest rise of 0.09%, reaching the level of 110.33. Month-to-date, the pair rose by about 0.68%, with its gains since the beginning of the year at 6.79%. …

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  • 22 June 2021 12:38 am

    Blend Labs Files for $100 M IPO

    Blend Labs has filed for an initial public offering (IPO) as it plans to sell $100 million worth of shares to publicly trade on the New York Stock Exchange (NYSE). The digital platform focuses on mortgage lending and other fintech services. The newcomer to Wall Street recorded a 90% rise …

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  • 22 June 2021 12:08 am

    NYSE Closes Monday with Large Gains

    The New York Stock Exchange (NYSE) closed higher on Monday, registering large gains in the first session of the week to recover some of the large losses it saw last week following the Fed’s policy statement, which indicated a hawkish change in tone. The Dow Jones Industrial Average gained 586.89 …

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  • 21 June 2021 11:03 pm

    Oil Finishes at Highest Levels since October 2018

    Oil prices surged on Monday, amid expectations that sanctions on Iran will continue following the recent presidential election. In addition, expectation for demand recovery in the second half of the year continue to provide support to crude prices. Brent crude futures for August delivery gained $1.39, or 1.89%, and closed …

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  • 21 June 2021 9:50 pm

    Gold Rebounds after Two Consecutive Declines

    Gold prices rose on Monday, recovering from its recent losses, following two daily losses and the worst weekly performance in about 15 months. A retreat by the U.S. Dollar (USD) provided support for the yellow metal. Gold futures for August delivery gained $13.90, or 0.79%, to close at $1,781.80 per …

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  • 21 June 2021 8:45 pm

    European Stocks Rebound from Earlier Losses to Close Higher

    European stocks closed higher on Monday, starting the week with a positive performance after rebounding from earlier losses. The STOXX Europe 600 index rose by 0.7% and closed at 455.23 points. Similarly, the STOXX 50 index finished higher by 0.71% at 4,112.33 points. The French CAC40 and the UK’s FTSE100 …

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  • 21 June 2021 7:16 pm

    Lagarde Says Pandemic Remains Risk but Expects Faster Recovery

    President of the European Central Bank (ECB), Christine Lagarde, believes that the coronavirus pandemic is still impacting the Eurozone. Speaking to the European Parliament on Monday, Lagarde expected a quick rebound in economic growth on the back of recovery in consumer spending, Reuters reported. “While on the downside, the spread …

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  • 21 June 2021 6:04 pm

    Wall Street Rebounds After Falling Due to The Fed

    Wall Street’s main indexes opened higher on Monday, as financial and energy stocks rebounded after hawkish comments from the Federal Reserve last week pushed the Dow and Standard & Poor’s 500 indexes to their biggest weekly losses in months. The Dow Jones Industrial Average rose 21.99 points, or 0.07%, to …

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  • 21 June 2021 5:12 pm

    US: Chicago Fed National Activity Index Improves to 0.29 in May

    The data published by the Federal Reserve Bank of Chicago showed on Monday that the National Activity Index (CFNAI) improved to 0.29 in May from -0.09 (revised from 0.24) in April.

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  • 21 June 2021 5:04 pm

    As Demand Accelerates, BofA Expects Oil to Reach $100/bbl Next Year

    Bank of America Global Research raised expectations for the price of Brent crude for the current and next year, saying that an increase in the balance between supply and demand in 2022 may raise the price of oil to one hundred dollars a barrel for a short period. The bank …

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  • 21 June 2021 3:56 pm

    The European Union Will Impose Sanctions on 86 Belarusian Officials And Companies

    The European Union will impose sanctions, including travel bans and asset freezes, on 86 Belarusian officials and companies on Monday, but will leave it to leaders to decide when to impose economic sanctions, EU foreign policy chief Josep Borrell said. Diplomats said that the sanctions include 76 individuals, including the …

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  • 21 June 2021 2:51 pm

    The Dollar Settled After Jumping 1.9% Last Week After The Fed’s Surprise

    The dollar held on to last week’s gains on Monday after the Federal Reserve surprisingly appeared to be leaning toward monetary tightening, while Bitcoin tumbled as China stepped up its crackdown on cryptocurrency mining. The dollar index was little changed after jumping 1.9% last week – the largest increase since …

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