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Market Analysis

May, 2021

  • 12 May 2021 12:06 am

    Fed’s Brainard Stresses Patience in Policy Stance

    The United States Federal Reserve Governor, Lael Brainard, said on Tuesday that the U.S. economy is recovering but remains challenged by uncertainty, reiterating the need for patience in monetary policy. “The outlook is bright, but risks remain, and we are far from our goals.”“Basing monetary policy on outcomes rather than …

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  • 11 May 2021 11:30 pm

    Gold Declines from Three-Month Highs

    Gold prices declined on Tuesday, following four consecutive rises, amid an increase in Treasury bond yields in the United States. The yellow metal futures for June delivery closed marginally lower by $1.50 at $1,836.10 per ounce. The decline comes after gold’s most active contract rose on Monday to its highest …

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  • 11 May 2021 9:30 pm

    European Stocks Bear Highest Loss of the Year

    European stocks fell on Tuesday, after rising yesterday to a new record high, due to increased selling pressures amid fears of a rise in inflation and concerns about the rising number of coronavirus cases. The STOXX Europe 600 index plunged by 1.97%, as travel and leisure stocks fell by 5.7%. …

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  • 11 May 2021 7:08 pm

    U.S. Job Openings Surge in March

    Job openings in the United States surged to a new record high in March, data by the U.S. Department of Labor showed on Tuesday. New job openings rose by 597,000, or 8%, to 8.12 million last month, compared with their level in February, according to the Job Openings and Labor …

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  • 11 May 2021 5:02 pm

    Commodity Gains Capped The Dollar Ahead of The Inflation Data, AUD at 2-Month High

    USD

    The dollar stabilized near its lowest level in several months today, Tuesday, as high commodity prices supported the currencies of exporting countries, but caution about US inflation data that may lead to early interest rate hikes prevented the dollar’s ​​decline. The Australian dollar moved at its highest level in two …

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  • 11 May 2021 3:53 pm

    OPEC Leaves Its Forecast For Oil Demand in 2021 as It Is!

    OPEC

    In its latest monthly report, the Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth for 2021 unchanged at 5.95 million barrels per day, according to Reuters. While OPEC lowered its forecast for global oil demand in the second quarter of 2021 by 300 …

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  • 11 May 2021 3:07 pm

    German ZEW Economic Sentiment Index Jumps to 84 in May

    ​​​​​​The German ZEW headline numbers for May showed that the Economic Sentiment Index jumped to 84 from 70.7 previous. Meanwhile, the Current Conditions sub-index recovered to -40.1 in May as against -48.8 recorded in the previous month.

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  • 11 May 2021 2:17 pm

    Factory Production in Turkey Rose 17% in March

    Data showed today, Tuesday, that industrial production in Turkey jumped 16.6% year on year in March, exceeding expectations by a large margin, to record growth for the tenth month in a row after a sharp slowdown last year, coinciding with the start of measures to combat the Coronavirus pandemic. The …

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  • 11 May 2021 1:47 pm

    Japan Shares Closed Lower on The Sell-Off in the Technology Sector and Pandemic Fears

    Japan

    Japanese stocks fell today, Tuesday, affected by technology stocks that tracked Wall Street losses overnight, while stocks related to the domestic economic cycle also fell due to concerns about the deterioration of the situation regarding the pandemic in the country. The Nikkei index fell 3.08% to 28,608.59 points, its lowest …

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  • 11 May 2021 1:27 pm

    Inflation Worries Push European Stocks Lower

    European stocks fell from their peak on Tuesday, and technology, travel and mining stocks were among the biggest losers after concerns about high inflation in the United States drove US indexes down. The pan-European STOXX 600 index fell 1.6% after hitting a record high on Monday. Sentiment deteriorated globally after …

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  • 11 May 2021 12:45 pm

    Oil Falling Due to Receding Fears of Pipeline Disruptions

    Oil prices declined today as fears of a long-term disruption to the Colonial Pipeline system of energy pipelines, the largest in the United States, diminished, while some US Gulf Coast refiners reduced production. US West Texas Intermediate crude futures fell 61 cents, equivalent to 0.94%, to $64.31 a barrel, after …

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  • 11 May 2021 5:47 am

    Colonial Ransomware Attack Raises Questions about Cybersecurity

    A cyberattack on a major gasoline pipeline in the United States has been identified as a ransomware attack, which means that the aim of the attackers is likely to receive money and not perpetuating a political message or cause instability in the American energy sector. The attackers, a group called …

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  • 11 May 2021 4:41 am

    Wall Street Closes Lower amid Tech Sell-Off

    The main indices of the New York Stock Exchange (NYSE) closed lower on Monday, due to increased selling pressures by Wall Street investors who projected concerns about a rise in inflation. After opening higher and shortly hitting a new intraday record high, the Dow Jones Industrial Average lost all of …

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