Japan shares closed lower on Wednesday, hurt by chip-related stocks, as concerns about rising COVID-19 cases ahead of the Olympics dampened sentiment. The Nikkei index fell 0.96% to close at 28366.95 points, while the broader Topix index fell 0.86% to 1937.68 points. Chip-related stocks tracked the decline in the Philadelphia …
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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7 July 2021 11:02 am
German Industrial Production Fell 0.3% in May For The Second Month in a Row
German industrial production fell 0.3% in May for the second month in a row, according to data released Wednesday, July 7, in a new indication of supply bottlenecks slowing the recovery in Europe’s largest economy. The German Federal Statistical Office said industrial output fell by 0.3%, unlike Reuters polls that …
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7 July 2021 10:59 am
Gold Prices Rise, Supported by Lower US Bond Yields
Gold prices consolidated on Wednesday, July 7th, near the psychologically important $1,800 an ounce level, supported by lower US Treasury yields, while investors awaited the minutes of the Federal Reserve’s June meeting for more indications on its monetary policy outlook. Spot gold rose 0.1% to $1,797.84 an ounce, after hitting …
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7 July 2021 3:49 am
Yellen to Call Upon G20 for Higher Minimum Corporate Tax
The U.S. Treasury Secretary, Janet Yellen, plans to discuss with her G20 peers raising the global minimum corporate tax rate above the 15% level, which was recently agreed by 130 countries. G20 Finance Ministers and Central Bank Governors are meeting at a two-day summit in Venice, Italy on July 9-10. …
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7 July 2021 2:05 am
Wall Street Begins Week with Mixed Performance
The New York Stock Exchange (NYSE) began the week with a mixed performance, following a long weekend at Wall Street due to the Independence Day holiday. While the Dow and the S&P indices finished lower, th Nasdaq achieved modest gains to close at a new record high. The Dow Jones …
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7 July 2021 12:29 am
USD Maintains Gains Following Fluctuations
The U.S. Dollar (USD) showed a fluctuating performance on Tuesday but maintained the positive trend for almost all of the American session after data showed the U.S. services sector maintained growth last month but at a relatively slower pace compared with the record level seen in May, as shown by …
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6 July 2021 11:49 pm
Oil Futures Take Major Blow Due to Output Uncertainty
Oil prices dropped on Tuesday, finishing with huge losses, amid uncertainty about the outlook for production policies by major crude producers. Yesterday, the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies could not reach an agreement on the output policy starting August. Brent crude futures for September …
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6 July 2021 10:12 pm
Gold Finishes Higher Following PMI Data
Gold prices finished higher on Tuesday after PMI data showed continuous expansion in the U.S. services sector but at a slower pace in June after recording a new high in May. A drop in the U.S. Treasury bond yields also provided support for the yellow metal, as the 10-year and …
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6 July 2021 9:45 pm
European Stocks Fall on Mixed Economic Data
European stocks closed lower on Tuesday after the release of mixed economic data and on the regional and local levels. Eurozone retail sales increased more than expected in May, by 4.6%, according to data by Eurostat. Meanwhile, industrial orders in German unexpectedly dropped by 3.7% in May, marking its biggest …
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6 July 2021 9:09 pm
IHS Markit U.S. Services PMI Slightly Below Estimates in June
The seasonally adjusted final IHS Markit U.S. Services Purchasing Managers’ Index (PMI) Business Activity Index registered 64.6 in June, down from 70.4 in May, data showed on Tuesday. The reading comes slightly below the earlier flash estimate of 64.8, according to IHS Markit. The latest expansion in output was the …
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6 July 2021 8:39 pm
U.S. Services PMI Slows but Maintains Growth in June
Economic activity in the United States services sector expanded last month for the thirteenth consecutive month, data by the Institute for Supply Management (ISM) showed on Tuesday. The Services Sectors Purchasing Managers’ Index (PMI) declined by 3.9% points to 60.1% in June compared with its reading in May, which was at an …
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6 July 2021 7:46 pm
U.S. Treasury Bond Yields Drop and Curve Further Flattens
U.S. Treasury bond yields declined on Tuesday, on the first day of the week, following a long weekend celebrating Independence Day. The benchmark 10-year Treasury bond yield is down by about 7 basis points at 1.363%, near its lowest level in more than two weeks. The 30-year note yield also …
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6 July 2021 6:02 pm
Saudi Arabia Raises Official Selling Prices For Oil to Asia in August
Saudi Arabia decided to raise the official selling prices for the month of August for all oil crudes designated to be sold to Asia. Saudi Arabia, the world’s largest oil exporter, set the August official selling price for its Arab Light crude at $2.70 a barrel, above the Oman/Dubai average …
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