The British pound maintained its gains against the US dollar and the euro, although it fell slightly in early trading on Tuesday. It maintained its gains that exceeded 1% during Monday’s trading, in conjunction with the recovery of risk appetite in global markets and the recovery witnessed in stock markets …
Read More »Market weekly wrap: Government shutdown could have an end soon
Markets kicked off last week on a cautious note after President Donald Trump announced late Friday a…
Wall Street Bounces Back: Dow Surges as Trade Hopes and Fed Bets Lift Market Mood
After a turbulent week marked by financial sector jitters and political uncertainty, the Dow Jones I…
Gold Retreats from Record High as Trump Softens Stance on China
Gold’s meteoric rise hit a speed bump on Friday, slipping 2% from its all-time high after U.S. Presi…
Washington Stalemate Deepens: U.S. Government Shutdown Hits 17 Days With No End in Sight
The United States government shutdown entered its 17th day on Friday, making it the third-longest in…
Euro Holds Firm as France Restores Political Calm, While UK Faces Fiscal Strain
The euro remained stable on Friday, supported by renewed political calm in France after recent tensi…
Bitcoin’s October Slump Fuels Hope for a Major Comeback
Bitcoin’s price dropped again in October, stirring memories of past downturns that often came just b…
Washington Moves to Ease Capital Rules for Small Banks in Bid to Boost Lending
U.S. regulators are preparing a proposal aimed at giving community banks more room to lend by easing…
Swiss Franc Rises as Global Trade Worries and Rate Cut Bets Pressure the US Dollar
Trade Tensions and Rate Cut Bets Push the Dollar DownThe US Dollar is facing significant downward pr…
U.S. Futures Extend Losses as Regional Bank Worries and Geopolitical Tensions Weigh
U.S. stock index futures slipped further on Friday, extending the previous session’s selloff as rene…
Oil Prices Slip as Trump–Putin Peace Talks Ease Supply Fears
Crude on Track for 3% Weekly LossOil prices extended their decline on Friday, heading toward a weekl…
Market Analysis
August, 2021
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24 August 2021 2:35 pm
Gold Falls, Hovers Above $1,800 on Virus Fears
Gold prices fell on Tuesday, August 24th but hovered above the psychologically important $1800 level, as the growing threat from increased delta cases fueled expectations that the Federal Reserve may delay easing its accommodative stance. Spot gold fell 0.1% to $1,803.53 an ounce, after jumping about 1.4% on Monday. And …
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24 August 2021 1:58 pm
European Stocks Continue to Recover
European shares continued to recover on Tuesday, August 24, after a full US approval of a vaccine to prevent Covid-19 boosted Wall Street to record highs, while the latest data showed a stronger-than-expected economic recovery in Germany. The STOXX 600 index of European shares rose 0.3% by 07:11 GMT, after …
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24 August 2021 1:13 pm
Oil Rises as Demand Hopes Grow After Full US Approval For a Covid-19 Vaccine
Oil prices rose on Tuesday, August 24 after the US Food and Drug Administration granted full approval for the use of the Pfizer-BioNTech vaccine against Covid-19, raising investors’ hopes of higher fuel demand due to a possible increase in US vaccination rates. Brent crude futures rose 46 cents, or 0.7%, …
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24 August 2021 12:28 pm
Stronger-Than-Expected Recovery For Germany’s Economy in The Second Quarter Thanks to Consumers And Government Spending
The German Federal Statistics Office said in a revision of an earlier estimate that private consumption and government spending led to a stronger-than-expected economic recovery in Germany in the second quarter, following the easing of anti-Covid-19 restrictions. The bureau added that gross domestic product grew 1.6% in the April-June quarter, …
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24 August 2021 4:06 am
Wall Street Rebounds with Nasdaq Hitting New Record High
The main indices of the New York Stock Exchange (NYSE) finished higher on Monday, with the Nasdaq hitting a new all-time closing high and the S&P 500 nearing its record high. Meanwhile, Wall Street investors seemed more optimistic about efforts to combat the coronavirus pandemic, after the Food and Drug …
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24 August 2021 3:41 am
GBP/USD Rebounds to Snap Two-Day Losing Streak
The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) recovering some of its recent losses last week. The GBP/USD pair gained 0.70% to reach 1.3722, in its biggest rise in a single session since July 9. The Sterling was able to snap a two-session losing streak, but …
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24 August 2021 2:55 am
Oil Scores Highest Gains Since Late March
Oil prices closed higher on Monday with their best performance in five months, recovering most of their losses last week, despite lingering concerns over the spread of the Coronavirus Delta variant. Today’s rebound, the highest since March 24, snaps a seven-session declining streak for oil futures, which brought them to …
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24 August 2021 1:06 am
Gold Extends Gains as Dollar Retreats to Restore $1,800 Level
Gold prices rose for the second straight session on Monday, building on the U.S. Dollar’s (USD) decline across the board against major currencies amid selling pressures following its surge to a nine-month high by the end of last week. Gold’s front-month futures added $22.20, or 1.25%, to finish at $1803.2 …
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24 August 2021 12:52 am
European Stocks Close Higher for Second Day
European stocks continued to rebound for the second consecutive session on Monday, starting the week with a positive performance to recoup some of its recent losses. The STOXX Europe 600 index rose by 3.08 points or 0.66% to finish at 471.88 points. Today marked the biggest daily gain for the …
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23 August 2021 9:35 pm
Euro Trading Higher Despite Consumer Confidence Decline
The Euro (EUR) is trading higher on Monday, opening the week with a positive performance amid a decline by the U.S. (USD) that is seeing increased selling pressures for profit-making after surging to a nine-month high last week. The European currency’s rise comes despite a recent slump in Eurozone consumer …
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23 August 2021 7:42 pm
U.S. Existing Home Sales Up for Second Month in July
Home sales in the United States continued to rise for the second consecutive month against market expectations, data by the National Association of Realtors showed on Monday. U.S. existing home sales rose by 2% to a seasonally adjusted annual rate of 5.99 million units in July from 5.87 million units …
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23 August 2021 5:44 pm
Bitcoin Breaks 50k Barrier, Cardano Making Its Way up Fast
For the first time since the beginning of last May, Bitcoin, the largest cryptocurrency by value, succeeded in surpassing the $50,000 levels, which served as an important psychological resistance point for the bulls. According to analysts, testing the levels of $50,000 establishes new support levels above the $48,000 in an …
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