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Market Analysis

June, 2021

  • 11 June 2021 2:57 am

    GBP/USD Maintains Downward Trend After BoE Remarks and U.S. Inflation Data

    The British Pound (GBP) declined against the U.S. Dollar (USD) on Thursday, after data showed a surge in the inflation rate in the United States. The GBP/USD pair maintained its downward trend for the third consecutive day, failing by about 0.17% to 1.4094. The Sterling rose earlier in the session …

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  • 11 June 2021 12:05 am

    Oil Settles Higher and Restores Two-Year Highs

    Oil prices closed higher on Thursday to recover from yesterday’s losses that followed the large surge in gasoline inventories in the U.S, and restore its highest level in more than two years. Brent crude futures for August delivery rose by 30 cents, or 0.4%, to close at $72.52 per barrel, …

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  • 10 June 2021 10:36 pm

    Gold Finishes Higher Following U.S. Inflation Surge

    Gold prices rose slightly on Thursday, with the U.S. Dollar (USD) fluctuating and investors reacting to the large surge in inflation in the U.S., as shown by the most reading of the consumer price index (CPI) that rose by 5% in May. The reading marked the biggest increase in U.S. …

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  • 10 June 2021 9:35 pm

    European Stocks Finish Mixed Following ECB Decision

    European stocks closed Thursday on a mixed note, following the European Central Bank’s (ECB) decision to maintain interest rates unchanged. The STOXX Europe 600 index finished marginally higher by a little less than 0.1% to close at a new record high. The UK’s FTSE100 index also gained 0.10% to finish …

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  • 10 June 2021 7:06 pm

    Wall Street Rises After Inflation Data and S&P 500 Hits Record High

    The main indices of the New York Stock Exchange (NYSE) rose on Thursday in early trades, despite today’s data showing a surge in inflation to its highest level since 2008, with the S&P 500 index hitting a new record high. Wall Street investors are awaiting whether the 5% rise in …

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  • 10 June 2021 6:47 pm

    OPEC Maintains Positive Expectations for Demand Growth

    OPEC

    The Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecast for demand growth this year. The global demand for crude oil is expected to rise by 6 million barrels per day, reaching 96.58 million barrels a day, according to OPEC’s monthly report released on Thursday. The forecasted demand …

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  • 10 June 2021 5:46 pm

    Lagarde speech: We Are Somewhat More Optimistic About The Outlook Than 3 Months Ago

    Christine Lagarde, President of the Europen Central Bank (ECB), is delivering her comments on the monetary policy outlook in a press conference following the ECB’s decision to leave the policy settings unchanged in June. Here are the most important quotes from her speech. “We are somewhat more optimistic about the …

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  • 10 June 2021 4:58 pm

    Lagarde speech: We Expect Growth to Improve Strength in The Second Half of The Year

    Christine Lagarde, President of the Europen Central Bank (ECB), is delivering her comments on the monetary policy outlook in a press conference following the ECB’s decision to leave the policy settings unchanged in June. Here are the most important quotes from her speech “We expect growth to improve strongly in …

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  • 10 June 2021 4:49 pm

    US Annual CPI Inflation Jumps to 5% in May

    There were 376,000 initial claims for unemployment benefits in the US during the week ending June 5, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in weaker than the market expectation of 370,000 and followed the previous print of 385,000.

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  • 10 June 2021 4:40 pm

    US: Weekly Initial Jobless Claims Decline to 376K

    There were 376,000 initial claims for unemployment benefits in the US during the week ending June 5, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in weaker than the market expectation of 370,000 and followed the previous print of 385,000.

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  • 10 June 2021 4:15 pm

    Oil Rebounds After a Hit From US Travel Season Data

    Oil prices rose Thursday, June 10, a day after falling due to data indicating weak demand for fuel in the American driving season, while investors awaited upcoming US economic data. Brent crude futures rose 18 cents, or 0.25%, to $72.40 a barrel, close to a peak not seen since May …

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  • 10 June 2021 3:47 pm

    ECB Leaves Key Rates And PEPP Unchanged

    The European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected. ECB will continue to conduct net asset purchases under PEPP with a total envelope of €1,850 billion …

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  • 10 June 2021 3:26 pm

    The Turkish Lira And US Data, What is to Come?

    For the second day in a row, the Turkish lira is trying to rise against the US dollar, after Turkey announced the discovery of a natural gas field. Natural gas discoveries raise the Turkish lira because they contribute to creating a balance in the balance of payments and reduce imports. …

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