European stocks closed lower on Wednesday, amid concerns about the rising number of coronavirus cases, especially of the Delta variant, as well as reflation fears. The STOXX Europe 600 index lost 3.53 points, or 0.77%, and closed at 452.84 points. This market the biggest daily loss for the pan-European index …
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
June, 2021
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30 June 2021 9:40 pm
Chicago PMI Hits Four-Month Low in June
The Chicago Business Barometer Index declined in June to 66.1 from 75.2 in May, hitting a four-month low, data showed on Friday. During the second quarter (Q2) of the year, the Purchasing Manager Index (PMI) rose by 7.9 points to 71.1, according to ISM-Chicago. This marked the highest quarterly reading …
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30 June 2021 8:30 pm
U.S. Oil Inventories Down for Sixth Straight Week
Crude oil inventories in the United States declined last week for the sixth consecutive week, according to official data. The U.S. Energy Information Administration (EIA) on Wednesday reported that crude inventories fell by 6.7 million barrels in the week to June 25. The drop in oil inventories exceeded most market …
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30 June 2021 7:17 pm
U.S. Pending Home Sales Surge in May
U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday. The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors. The surge in the gauge of contracts signed last month came against …
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30 June 2021 7:04 pm
U.S. Private Payrolls Rise More than Expected
U.S. private payrolls rose more than expected during June, with businesses filling more vacancies to increase production amid demand recovery with the economy reopening, data showed on Wednesday. Private payrolls increased by 692,000 jobs this month, compared with May’s reading of 886,000, which was revised downwards from an initially estimated …
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30 June 2021 6:03 pm
Turkish Lira Rises Despite Positive US Data
Despite the positive US data on the labor market, and the advance of the US dollar index, the Turkish lira managed to rise strongly against the dollar after days of decline. The data released today also indicates that the trade balance deficit widened on an annual basis by 20.2% during …
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30 June 2021 5:13 pm
The European Union Adds 11 Countries to Its List of Safe Travel, Including Saudi Arabia And Jordan
Diplomats said EU governments have agreed to add 11 countries, including Saudi Arabia, Jordan and Qatar, to their list of countries that will allow non-essential travel from them. The ambassadors of the twenty-seven countries of the Union agreed to add these countries in today’s meeting, with the decision to take …
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30 June 2021 4:41 pm
Canada: Real GDP Contracts by 0.3% in April
Canada’s Real Gross Domestic Product (GDP) contracted at 0.3% in April, the data published by Statistics Canada showed on Wednesday. This reading came in better than the market expectation for a decrease of 0.8%. In March, the Canadian economy grew by 1.3%.
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30 June 2021 4:36 pm
US: Private Sector Employment Rises by 692K in June
Employment in the US’ private sector increased by 692,000 in June, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed May’s print of 886,000 (revised from 978,000) and surpassed the market expectation of 600,000.
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30 June 2021 3:22 pm
OPEC+ to Discuss Extension of Oil Supply Deal Beyond April 2022
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, is expected to discuss a potential extension of the oil supply deal beyond April 2022 on Thursday, Reuters reported, citing two OPEC+ sources.
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30 June 2021 2:43 pm
Reuters: An OPEC + Committee Expects an Imbalance in The Oil Market After April 2022
According to a report seen by Reuters, an OPEC+ committee warned of “significant uncertainty” and the risk of a possible disruption to the global oil market after April 2022. The report also showed that the committee, known as the Joint Technical Committee, expects a surplus of oil by the end …
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30 June 2021 1:59 pm
The Dollar Near Its Latest Peak as US Wage Data Awaits
The dollar is set to record its best monthly gain since March on Wednesday, June 30, supported by traders’ concerns ahead of hard-to-predict US jobs data and concern that the delta strain of the Coronavirus will delay the recovery from the pandemic. The dollar gained about 2.5% against a basket …
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30 June 2021 1:53 pm
Eurozone Preliminary CPI Eases to 1.9% YoY in June
Eurozone’s annual CPI matched expectations at 1.9% but eased slightly for May as data showed on Wednesday from Eurostat. Core numbers also fell to 0.9% y/y in June versus 1.0% recorded in May. “Looking at the main components of euro area inflation, energy is expected to have the highest annual …
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