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Market Analysis

March, 2021

  • 29 March 2021 3:23 pm

    Bitcoin Jumps For a Week And Exceeds $ 58,000

    Bitcoin jumped today, Monday, to a new week’s high, rising by 4.5% to $58,300 and approaching its peak at $61,100, which it reached earlier this month. Visa had previously said it would use cryptocurrency to settle payments on its network, in the latest sign of the growing acceptance of digital …

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  • 29 March 2021 2:11 pm

    Reuters: Russia Supports Rollover For OPEC+ Oil Production From April to May

    Russia is in support of keeping the oil output of the OPEC+ steady from April to May while seeking a small output increase in May for itself, Reuters reported on Monday, citing a source familiar with the matter.  “I won’t be surprised to hear the view that it is better …

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  • 29 March 2021 1:38 pm

    The Turkish Lira Drops 1%, With Continuing Losses

    The Turkish lira lost more than 1% of its value on Monday, March 29, continuing its sharp decline since President Recep Tayyip Erdogan changed the central bank governor this month, leading to expectations of a loose monetary policy. The lira was at 8.14 per dollar, down from 8.0775 at the …

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  • 29 March 2021 1:04 pm

    European Stocks Near Record Levels Amid Hopes of Recovery

    European stocks approached record highs Monday, March 29, thanks to optimism about the global economic recovery, while Credit Suisse plunged following a warning of “significant” losses due to exit from positions after a US-based hedge fund defaulted on margin calls. Swiss bank shares lost 9.5% after it said an unnamed …

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  • 29 March 2021 12:39 pm

    US Bond Yields Are Colored in Red

    The yield on the benchmark 10-year Treasury note fell to 1.64% on Monday, remaining below 14-month highs of 1.75% reached early in the month as the bond market appears to be flat. Investors have digested mixed economic data and tame inflation, the outlook for a brighter economic outlook for the …

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  • 29 March 2021 12:07 pm

    Currencies Overview: The Dollar Rises Supported by Stumbling of The Euro

    The dollar started the week strongly, as it moved in a peak direction against the euro on Monday, March 29th, at a time when a tendency of caution in the market pushes investors to safe havens, and the rapid distribution of vaccines adds to the attractiveness of the currency. The …

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  • 29 March 2021 11:22 am

    Merkel Presses German States to Get Tough With COVID Curbs

    Chancellor Angela Merkel pressed German states today, Sunday, to intensify efforts to curb the increasing number of infections with the Coronavirus, and raised the possibility of a curfew in an attempt to control the third wave. “We have our emergency brakes … unfortunately they are not respected everywhere. I hope …

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  • 29 March 2021 11:11 am

    Oil Decline as The Stuck Ship Ship Begins Moving in the Suez Canal

    Oil fell by more than 2% on Monday, March 29th, after news from the Suez Canal that rescue crews managed to move the giant container ship that has been blocking the vital global trade corridor for nearly a week. Brent crude fell $1.38, equivalent to 2.1%, to $63.19 a barrel. …

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  • 29 March 2021 10:46 am

    Successful Floatation of The Panamanian Container Vessel EverGiven

    suez canal

    Lieutenant-General Osama Rabie, Chairman of the Suez Canal Authority, announced that the Panamanian container ship Ever Given had successfully floated after the ship responded to the tension and towing maneuvers, whereby the ship’s course was significantly modified by 80% and the stern of the ship moved away from the shore …

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  • 27 March 2021 2:14 am

    Wall Street Close Friday with Large Gains

    The New York Stock Exchange (NYSE) finished Friday with large gains, supported by the rise of many sectors led by tech, healthcare, and financial services, amid positive expectations for economic recovery that reflected positively on Wall Street. The Dow Jones Industrial Average gained 453.4 points, or 1.39%, to close at …

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  • 27 March 2021 1:50 am

    Oil Narrows Most Weekly Losses as Supply Disruptions Balance Demand Concerns

    Oil futures rose on Friday, as a stranded ship continues to block the Suez Canal, one of the world’s major trade routes, thus disrupting the flow of large crude supplies. However, crude prices finished the week in losses, amid concerns about the resurgence of the Coronavirus pandemic through a third …

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  • 27 March 2021 1:12 am

    Gold Rises but Settles with Weekly Losses

    Gold prices rose on Friday, despite the stability shown by the U.S. Dollar (USD), amid increased demand from investors for safe havens. However, the yellow metal was unable to recover its weekly losses, most of which resulted from the rise of the USD and the high Treasury bond yields. Gold …

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  • 27 March 2021 12:22 am

    USD Steadies Near Highest Level in Four Months

    The U.S. Dollar (USD) maintained some of its gains on Friday, despite the rise of the Euro and the Sterling Pound, supported by positive expectations for economic recovery in the United States. Large gains against the Japanese Yen (JPY) and the Australian Dollar (AUD) balanced off losses against the Euro …

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