The Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the July policy meeting as expected. However, the BoC decided to reduce the target of weekly net asset purchases of the government of Canada bonds to C$2 billion from C$3 billion.
Read More »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…
Bank of Japan Signals Continued Tightening Path Amid Global Uncertainty
The Bank of Japan (BOJ) reaffirmed its cautious yet tightening stance on Friday, as Deputy Governor …
Market Analysis
July, 2021
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14 July 2021 5:39 pm
U.S: Annual PPI Climbs to 7.3% in June
The Producer Price Index (PPI) in the US for final demand rose to 7.3% on a yearly basis in June from 6.6% in May, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading beat the market expectation of 6.8% by a wide margin. On …
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14 July 2021 5:39 pm
Canada: Manufacturing Sales Decline in May
Manufacturing Sales in Canada contracted by 0.6% on a monthly basis in May, the data published by Statistics Canada revealed on Wednesday. This reading followed April’s decline of 2.1% and came in worse than the market expectation for an increase of 1%.
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14 July 2021 4:35 pm
Gold Touches a High of 1825
Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar Gold touches a high of 1825 as we mentioned in our morning report after it got the bullish momentum at 1797 taking advantage of falling USD. The yellow metal rose after …
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14 July 2021 3:44 pm
BoC Preview: Forecasts From Four Major Banks
Markets are looking forward to Wednesday’s decision on interest rates by Bank of Canada, and it is widely expected that the Bank of Canada will leave the interest rate unchanged (0.25%). reduce weekly asset purchases to $2 billion Here are the expectations as forecast by the economists and researchers of …
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14 July 2021 3:11 pm
Turkey: CBRT Leaves Policy Rate Unchanged at 19%
The Central Bank of the Republic of Turkey (CBRT) announced on Wednesday that it left its policy (one-week repo) rate unchanged at 19% as expected.
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14 July 2021 2:22 pm
Eurozone Industrial Production Falls by 1% in May
Eurozone’s Industrial Production in Germany showed a bigger-than-expected drop in May, the official data published by Eurostat showed on Wednesday, suggesting that the recovery in the manufacturing sector is losing momentum yet again. The industrial output in the bloc arrived at -1.0% MoM vs. a 0.2% drop expected and 0.6% …
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14 July 2021 1:42 pm
Gold is Rising Due to The Decline in USD And US Bond Yields Before Powell’s Speech
Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar, while the focus is now on US Federal Reserve Chairman Jerome Powell’s speech to Congress later today after the strong rise in consumer prices. And gold rose in the spot market …
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14 July 2021 1:15 pm
The Dollar is at a 3-Month High Against The Euro
The US dollar rose Wednesday, July 14 to touch a three-month high against the euro and hit a one-week high against the Japanese yen, after rising US inflation spurred bets for a faster monetary tightening than Fed officials have indicated so far. The New Zealand dollar jumped more than 1% …
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14 July 2021 12:40 pm
UK Inflation Jumps to 2.5% in June
Official data showed that the rate of inflation in Britain rose more than the rate targeted by the Bank of England in June to reach 2.5%, compared to 2.1% in May. Economists polled by Reuters had expected the consumer price index to stand at 2.2% in the 13 months to …
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14 July 2021 2:18 am
Wall Street Closes Lower After Inflation Surge
The New York Stock Exchange (NYSE) closed lower on Tuesday, after logging new record highs yesterday, as Wall Street investors responded to the huge surge in inflation. June’s reading of the Consumer Price Index (CPI) showed a 5.2% surge, exceeding market expectations. The Dow Jones Industrial Average declined by 0.31% …
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14 July 2021 1:59 am
Dollar Registers Biggest Rise in About a Month Following Inflation Surge
The U.S. Dollar (USD) rose on Tuesday across the board, following the release of June’s inflation reading that showed an increase in consumer prices that exceeded market expectations. The Consumer Price Index (CPI) jumped by 5.4% on an annual basis last month, compared with a 5% increase in May, according …
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14 July 2021 12:59 am
U.S. Oil Inventories Expected to Register Eighth Consecutive Weekly Drop
Crude oil inventories in the United States are expected to further drop, with official data due on Wednesday by the U.S. Department of Energy’s Energy Information Administration (EIA). Last week, data showed that U.S. oil stockpiles declined for the seventh consecutive week by 6.866 million barrels. A drop that exceeded …
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