European stocks closed higher on Monday, opening the week with a positive performance amid improved investors’ sentiment. Following a weekly decline that was the worst since last October, the pan-European STOXX 600 index rose by 1.2%. The French index CAC40 bounces by 1.16%, while the German DAX finished higher by …
Read More »Dow Roars Back: 600-Point Surge Amid Economic Uncertainty
Equities rebound from recent plunge, but trade tensions and soft retail data cast a long shadow.The …
Dollar Drifts as Geopolitical and Policy Storm Clouds Gather
A week of potentially historic significance opens with the US Dollar easing, as markets brace for a …
Gold Prices Still Soaring Above $ 3,000 Barrier
Gold prices have continued their upward trajectory since the start of trading on Monday, following t…
Consumer Caution: Retail Sales Underwhelm Amid Economic Uncertainty
A note of caution has sounded within the US economy as retail sales for February fell short of expec…
U.S. Stock Futures Decline Amid Trade Tariff Uncertainty
U.S. stock index futures dropped on Monday as investor concerns grew over the potential economic imp…
Oil Prices Rise Amid U.S. Strikes on Houthis and Strong Chinese Data
Oil prices traded higher on Monday as the U.S. vowed continued strikes on Yemen’s Houthis, while Chi…
European Stocks Gain Amid German Debt Deal, U.S.-EU Trade War Looms
European stock markets edged higher on Monday, supported by optimism over a historic German debt dea…
Gold Prices Dip After Record Surge, Market Eyes Tariffs & Economic Risks
Gold prices edged lower in Asian trade on Monday, following a record-breaking rally, as investors ba…
Bitcoin Drops as Traders Brace for Federal Reserve Decision
Bitcoin (BTC) fell on Monday, extending its weekly decline as investors remained cautious ahead of t…
Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Market Analysis
February, 2021
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1 February 2021 8:06 pm
U.S. Construction Spending Records New High in December
Construction spending in the United States hit a new record high in December, data showed on Monday. Construction spending rose by 1% to $1.49 trillion, its highest level since the records began in 2002, according to the U.S. Department of Commerce. The November reading was revised upwards to 1.1% from …
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1 February 2021 7:34 pm
U.S. ISM Manufacturing Index Expands in January
Economic activity in the United States manufacturing sector expanded in January, with the overall economy notching an eighth consecutive month of growth, according to the latest Manufacturing ISM Report On Business. The January Manufacturing Purchasing Managers Index (PMI) registered 58.7% last month, down 1.8% points from the seasonally adjusted December reading of 60.5%. After a contraction …
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1 February 2021 6:53 pm
U.S. Manufacturing PMI Rises in January
The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index (PMI) rose in January to a reading of 59.2 up from 57.1 in December, data showed on Monday. The final reading comes in line with the earlier flash estimate of 59.1. The reading signals a substantial improvement in operating …
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1 February 2021 6:47 pm
Canada’s Manufacturing PMI Drops in January
The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) declined in January to 54.4 from 57.9 in December, data showed on Monday. However, Canadian manufacturing businesses witnessed a solid expansion in business conditions, especially in the goods-producing sector. Production volumes increased solidly in January, extending the current …
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1 February 2021 5:39 pm
Factory Growth in Britain Has Slowed Due to Coronavirus And Brexit
A survey published Monday, February 1, showed that British manufacturers faced a double whammy last month due to global shipping disruptions due to the outbreak of a new wave of the Coronavirus, accompanied by new trade barriers with the European Union. Separate data from the Bank of England showed a …
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1 February 2021 4:46 pm
EU: Unemployment Rate Stays Unchanged at 8.3% in December as Expected
The seasonally adjusted Unemployment Rate in the euro area stayed unchanged at 8.3% in December, the data published by the Eurostat showed on Monday. This reading came in line with market expectation. Further details of the publication revealed that the EU Unemployment Rate in the same period was 7.5%.
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1 February 2021 4:00 pm
Turkish Lira Rose 1.5% to August Levels
The Turkish lira rose 1.5% on Monday, to its highest level since August, while a measure of risk retreated to near its lowest level in a year, supported by a tightening monetary tone from the central bank and data indicating a further recovery in manufacturing industries. The currency has outperformed …
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1 February 2021 3:28 pm
Silver Rises to a Peak of 6 Months Due to Retail Boom
Silver rose for the third session in a row on Monday, February 1, rising as much as 7.4% near a six-month peak after posts on social media last week called for retail investors to flood the market. Spot silver reached its highest level since August 11 at $ 29.7 an …
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1 February 2021 3:07 pm
Currencies Overview: Dollar Falls as Demand For Safe Haven Dwindles Due to The Rise in Asian Stocks
The safe-haven dollar weakened on Monday, February 1 st as risk sentiment improved thanks to hopes that retail investors who targeted hedge funds last week turned their sights elsewhere. The US currency fell against most of its counterparts, as Asian stocks rose after four-day losses. The Australian dollar offered the …
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1 February 2021 2:05 pm
European Stocks Rise and Mining Companies Leading Early Gains
European stocks rose on Monday, recovering from their worst weekly decline since October, backed by a rally in mining stocks after an ongoing flurry of retail interest shifted to silver. The European Stoxx600 index rose 0.8%, while mining stocks including Fresnelo, Polymetal International and Polydin led the early gains in …
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1 February 2021 1:45 pm
Chevron Turns Into a Loss in The Last Quarter Due to Weak Refining Activities
The US oil giant Chevron turned to incur losses in the fourth quarter of $ 11 million, as lower fuel margins, the costs of acquisitions and the effects of foreign currency overshadowed the improvement in the results of exploration activities. It is expected that oil companies will benefit from the …
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1 February 2021 1:04 pm
Oil Gains Despite Distribution of Vaccine And New Strains of Coronavirus Faltering
Oil prices rose Monday, February 1, after a weak start, to consolidate the gains it made over the past three months, despite the faltering operations of the distribution of anti-Coronavirus vaccines, new infections and the discovery of new strains casting shadows on demand expectations. Brent crude futures rose 36 cents, …
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