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Market Analysis

June, 2021

  • 1 June 2021 7:31 pm

    ISM Manufacturing PMI Maintains Growth in May

    The U.S. manufacturing sector saw an improving level of business activity last month, according to data released on Tuesday. May witnessed an extension to an expansion streak for the sector to the 12th consecutive month, with the overall economy growing, according to the Manufacturing ISM Report on Business by the Institute for Supply …

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  • 1 June 2021 5:48 pm

    Canada: Real GDP Grows by 1.1% in March

    Canada’s Real Gross Domestic Product (GDP) expanded at a monthly rate of 1.1% in March, the data published by Statistics Canada showed on Tuesday. This reading came in slightly higher than the market expectation of 1% and followed February’s growth of 0.4%.

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  • 1 June 2021 5:09 pm

    OPEC+ JMMC Recommends Sticking to Agreed Oil Output Policy Through July – Reuters

    OPEC

    OPEC+ Joint Ministerial Monitoring Committee (JMMC) has recommended producers to stick to the agreed oil output policy through July, Reuters reported on Tuesday, citing two sources familiar with the matter.

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  • 1 June 2021 4:30 pm

    Brent Has Peaked Since March in Anticipation of Demand Growth

    Oil Rig oil (

    Oil prices rose on Tuesday, June 1, to record Brent $71 and its highest level since March, thanks to expectations of growth in fuel demand in the summer travel season in the United States. Prices were also boosted by Chinese data showing factory activity grew at its fastest pace this …

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  • 1 June 2021 3:45 pm

    Eurozone Inflation Exceeds Central Bank Target in May

    Eurozone inflation rose above the European Central Bank’s target in May, highlighting a challenge for policymakers who may accept higher prices for now but may face a backlash from angry consumers. Inflation in the 19 countries that deal in the euro accelerated to 2% in May from 1.6% in April, …

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  • 1 June 2021 2:45 pm

    Dollar Falls And Yuan Stabilizes After The People’s Bank of China Intervened to Curb Gains

    The dollar hovered near a five-month low on Tuesday, June 1 as investors awaited eurozone inflation data and the US manufacturing sector survey, while the yuan stabilized after China’s central bank adopted steps to stem its rally. The dollar index returned to decline from the level of 90 in European …

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  • 1 June 2021 1:58 pm

    Reuters: OPEC+ Expected to Adhere to The Supply Plan, Given That Iranian Production Has Not Yet Returned

    OPEC

    Three OPEC sources told Reuters that OPEC+ is likely to stick to the current pace of gradual easing of oil supply restrictions at Tuesday’s meeting, as producers weigh their expectations of a demand recovery against a possible increase in Iran’s supply. The Organization of the Petroleum Exporting Countries (OPEC) and …

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  • 1 June 2021 1:29 pm

    Oil Exceeds $ 70 a Barrel Ahead of The OPEC+ Meeting

    Oil prices rose on Tuesday, June 1 ahead of a meeting of the OPEC+ alliance, buoyed by hopes of growth in fuel demand in the coming months as the summer driving season begins in the United States, the world’s largest oil consumer. Prices also received a boost from Chinese data …

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  • 1 June 2021 12:52 pm

    Gold Prices Near a 5-Month Peak, Supported by The Fall of The Dollar And Inflation Fears

    Gold prices rose today, Tuesday, June 1 to their highest levels in nearly five months, supported by the decline of the dollar and growing inflationary pressures, while investors awaited more US data for indications of the extent of the global economic recovery. Spot gold rose 0.1% to 1910.24 dollars an …

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  • 1 June 2021 12:36 pm

    Japan’s Nikkei Closes Lower Before Important US Data

    Japan

    The main Japanese stock index, Nikkei, closed slightly lower on Tuesday, June 1, as investors awaited two important US economic reports, but losses were limited by hopes that the local economy would return to normal activity in light of the increase in vaccination activity despite the delay. The Nikkei index …

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  • 1 June 2021 8:56 am

    European Stocks Hit New All-Time High

    European stocks finished higher on Tuesday, beginning June with a positive performance, amid positive expectations for economic recovery. Last month, European stocks registered their fourth consecutive monthly rise. The STOXX Europe 600 gained 0.75% to settle at a new record high closing level at 450.10 points. The German benchmark index …

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  • 1 June 2021 8:13 am

    Markets Expect More of the Same from OPEC+ Summit

    OPEC

    Markets await the outcome of today’s meeting for members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers forming an alliance known as OPEC+. The summit comes more than a year after the first wave of the Coronavirus pandemic that caused a shock in the international …

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  • 1 June 2021 7:37 am

    Bitcoin Registers Worst Monthly Losses Since 2011

    Bitcoin

    Although Bitcoin registered some gains on Tuesday, it still recorded its worst monthly losses since 2011. The world’s largest cryptocurrency in terms of market capitalization plunged by around 37.8% in May, marking its second-worst losses since a 40% drop in September 2011. The decline is close to that of November …

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