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Market Analysis

February, 2021

  • 9 February 2021 3:03 pm

    Gold is Gaining as US Dollar Continues to Decline

    Gold prices rose near their highest level in a week on Tuesday, February 9th, as the dollar faltered and expectations that a huge US fiscal stimulus will soon be passed to revive the world’s largest economy. Spot gold rose 0.5% to $1839.02 an ounce, after reaching $1843.04 earlier in the …

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  • 9 February 2021 2:34 pm

    European Stocks Fell After a Strong Rally

    European stocks fell on Tuesday 9 February, after a strong rally receded, driven by hopes of a faster global economic recovery and the distribution of anti-Coronavirus vaccines, while shares of the French oil giant Total increased after its profits recovered in Q4 last year. Total’s share increased by 1.1% after …

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  • 9 February 2021 2:30 pm

    Currencies Overview: US Dollar at Its Lowest Level in a Week

    The dollar is facing difficulties to rise from its lowest level in a week on Tuesday, February 9th, as traders went anxious about the outlook for the greenback with the future of major US financial stimulus package. Investors have pushed the dollar higher in recent weeks, as Democrats move quickly …

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  • 9 February 2021 2:26 pm

    Bitcoin Hits $48,000 Barrier For The First Time

    Bitcoin hit $48,000 for the first time in the early trading on Tuesday at Bitstamp, as it headed towards the $50,000 barrier. The market value of the largest cryptocurrency in the world has now exceeded $ 891 billion. Bitcoin has risen nearly 24% since the leading electronic car maker Tesla …

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  • 9 February 2021 2:18 pm

    Oil Rises to Its Highest Level in 13 Months Thanks to Production Cuts And Hopes of Recovery in Demand

    Oil prices rose on Tuesday, February 9th, to their highest in 13 months, as energy markets received support from major producers cutting supplies and optimism about a recovery in fuel demand. Brent crude futures for April delivery were 50 cents, or 0.8%, at $ 61.06 a barrel. US West Texas …

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  • 9 February 2021 12:25 pm

    Japan Shares Closing Higher After Reaching a 30-Year Peak

    Japan

    Japanese stocks closed higher for the third consecutive session on Tuesday, February 9, after reaching a 30-year high, as strong business results for companies and progress in distributing anti-virus vaccines raised expectations of a rapid economic recovery. The benchmark Nikkei index rose 0.4% to 29,505.93 points, while the broader Topix …

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  • 9 February 2021 3:18 am

    Wall Street Continues the Record-Breaking Surges

    The main indices of the New York Stock Exchange (NYSE) closed at new record highs on Monday, opening the second week of February with a strong performance that build up on the recent surges, which come on the back of improved risk sentiment among Wall Street investors and anticipation for …

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  • 9 February 2021 3:11 am

    Fed’s Mester Sees Easing Policies Lasting Very Long Time

    The President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Monday that the Fed will maintain its monetary easing policies for a very long time to help the economy achieve the inflation and employment goals set by the central bank, Reuters reported. Mester believes that economic activity …

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  • 9 February 2021 3:01 am

    Oil Prices Rise Again with Brent Exceeding $60 per Barrel

    Oil prices continued to rise on Monday, with the global benchmark crude reaching the $60 a barrel level for the first time in about a year. This comes amid the commitment of the OPEC+ alliance to output curbs, improved expectations for the recovery of global demand, and anticipation for a …

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  • 9 February 2021 12:22 am

    Fed’s Barkin not Worried About Rise in Inflation

    The President of the Federal Reserve Bank of Richmond, Thomas Barkin, is not concerned with an overshoot in inflation due to the increased government stimulus, which he views as necessary to achieve economic recovery. Barkin still sees some short-term price volatility, with deflationary and inflationary risks ahead, he told the …

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  • 9 February 2021 12:00 am

    Gold Closes Higher for Second Session in Row

    Gold prices rose on Monday, for the second consecutive session, opening the week with a positive performance after dropping on Thursday by 2% to its lowest level since November. The yellow metal gains come amid anticipation for an increase in the United States government stimulus spending. The Democrats are working …

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  • 8 February 2021 11:57 pm

    U.S. Economic Growth Forecasts Revised Up: Goldman Sachs

    A report by Goldman Sachs on Monday showed a rise in the bank’s expectations for the growth of the gross domestic product (GDP) in the United States during the second quarter of 2021 to 11% from a previous estimate of 10%. Goldman Sachs now sees additional fiscal measures at $1.5 …

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  • 8 February 2021 10:02 pm

    European Stocks Close Higher

    European stocks closed higher on Monday, opening the week with a positive performance amid an improved risk sentiment that benefited equity markets around the world. The pan-European STOXX 600 index finished higher by 0.3%. Meanwhile, the French CAC40 index gained 0.47%, while the German index DAX closed marginally higher by …

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