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Market Analysis

July, 2021

  • 8 July 2021 9:21 pm

    European Stocks Log Worst Losses in Two Months

    European stocks dropped on Thursday, with all market sectors closing in red, amid worried about the new coronavirus (COVID-19) variants. The pandemic-related concerns are driving more investors into safe havens, such as the bonds, which is reflecting negatively on the stock market due to questions about maintaining the pace of …

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  • 8 July 2021 7:25 pm

    U.S. Oil Inventories Down for Seventh Week in Row

    Crude oil inventories in the United States declined last week for the seventh consecutive week, according to official data released on Thursday. The U.S. Energy Information Administration (EIA) reported that crude inventories fell by 6.866 million barrels last week. The drop in oil inventories exceeded most market expectations of a …

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  • 8 July 2021 5:39 pm

    ECB’s Lagarde: Inflation Target at 2% is Not a Ceiling

    European Central Bank President Christine Lagarde has said that the new 2% symmetric inflation target means that level is not a ceiling. The ECB abandoned its “below, but close to 2%” target in its strategic review published earlier.

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  • 8 July 2021 4:41 pm

    US: Weekly Initial Jobless Claims Rose to 373K

    There were 373,000 initial claims for unemployment benefits in the US during the week ending July 2, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading more than the market expectation for a reading of 350,000 and followed last week’s upwardly revised reading of …

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  • 8 July 2021 4:20 pm

    Gold Rises, Awaiting Data

    Gold fell in Thursday morning in Asia as investors continued to digest the US Federal Reserve’s meeting minutes from the latest policy meeting. A stronger dollar and lower US Treasury yields also limited the yellow metal’s gains. However, the US dollar index and bond yields fell at the beginning of …

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  • 8 July 2021 3:18 pm

    ECB Adopts Symmetric 2% Inflation Target

    The European Central Bank has shifted to a symmetric inflation target of 2% contrary to a ceiling at that level, the decision was fully expected by markets. The ECB stated it would allow short-term deviations from that goal, including a moderate spell above target. This is a step back from …

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  • 8 July 2021 2:44 pm

    Japan Declares The State of Emergency in Tokyo, Two Weeks Before The Olympics

    Japanese Prime Minister Yoshihide Suga approved the declaration of a state of emergency in Tokyo Thursday, July 8, in preparation for the Olympics scheduled to begin in two weeks. The declared state of emergency will continue until the end of the Olympic Games, due to fears that the organization will …

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  • 8 July 2021 2:08 pm

    German Exports Rise 0.3% in May

    German exports rose again in May by 0.3%, indicating a continued recovery in Europe’s largest economy. The German Federal Statistics Office said Thursday, July 8 that seasonally-adjusted exports rose 0.3% month-on-month, after a downwardly revised 0.2% increase in April. Imports also rose by 3.4% month-on-month in May, topping Reuters expectations, …

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  • 8 July 2021 1:39 pm

    Oil Prices Falling as Uncertainty Continues Over OPEC + Decisions

    Oil prices continued to plummet, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude futures for …

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  • 8 July 2021 1:05 pm

    Japanese Shares Fall After Tokyo Declared a State of Emergency Ahead of The Olympics

    Japan

    Japanese stocks fell Thursday, July 8, before the country announced the re-imposition of a state of emergency to contain the rise in COVID-19 cases, which raised fears of an economic slowdown. The benchmark Nikki index fell by 0.88% to its lowest closing level in more than two weeks at 28,118.03 …

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  • 8 July 2021 2:07 am

    Fed’s Bostic Warns COVID-19 Delta Variant Might Slow Recovery

    President of the Federal Reserve Bank of Atlanta, Raphael Bostic, has warned that a new wave of the coronavirus pandemic with the Delta variant might hinder or slow the economic recovery, with an impact on consumer demand. “If we see spikes in infections that will likely mean that people are …

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  • 8 July 2021 1:46 am

    Dollar Stabilizes with Modest Gain After Fed Minutes

    The U.S. Dollar stabilized on Wednesday against most major peers, with last month’s Federal Reserve meeting minutes showing caution among monetary policymakers regarding tapering after a surge in inflation that exceeded expectations. The Dollar Index (DXY), which measures the greenback against a basket of six peers, rose by 0.18% to …

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  • 8 July 2021 12:38 am

    Oil Maintains Losses amid Continued Uncertainty

    Oil prices continued to plummet on Wednesday, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude …

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