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Cryptocurrencies witnessed sharp declines after record high as Bitcoin fell below $ 47,000 More to come…
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February, 2021
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23 February 2021 1:39 pm
Cryptocurrencies fell Sharply After Record Highs And Bitcoin Fell Below $47,000
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23 February 2021 1:02 pm
Oil Prices Jump by More Than a Dollar as The Resumption of US Production Slows
Oil prices jumped by more than a dollar on Tuesday (February 23rd), as they received support from optimism about the distribution of anti-Covid-19 vaccines and a decrease in production as US supplies slowly return after freezing weather in Texas stopped crude production last week. Sources said that shale oil producers …
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23 February 2021 12:35 pm
Gold Hits a Week High as The Dollar Weakens And Yields Decline
Gold rose to the peak of the week of Tuesday, February 23rd, supported by the weak dollar and declining US Treasury yields, while the appeal of the yellow metal was boosted by fears of further rising inflation. Spot gold rose 0.2% to $1812.06 an ounce, after hitting its highest level …
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23 February 2021 4:54 am
U.S. House Moving Forward with Passing $1.9 T Relief Bill
The United States House of Representatives is officially moving forward with steps to pass the American Rescue Plan, the $1.9 trillion Coronavirus relief package proposed by President Joe Biden. The stimulus bill was passed through the House Budget Committee with a 19-16 vote. It includes raising unemployment insurance supplement $400 …
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23 February 2021 4:37 am
UK Plans to Gradually Ease Lockdown Measures
Prime Minister of the United Kingdom (UK), Boris Johnson, revealed on Monday a plan to gradually ease the lockdown measures imposed as a precaution against the spread of the Coronavirus pandemic. In the first step, schools in England are set to reopen on March 8. In the same time, minimum …
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23 February 2021 4:27 am
BoE’s Vlieghe Doesn’t See 5% Interest Rate in His Lifetime
Gertjan Vlieghe, a member of the Bank of England’s (BoE) Monetary Policy Committee, said on Monday that he expects interest rates in the United Kingdom to remain low and not return to their levels prior to the global financial crisis in the foreseeable future. Vlieghe, who is 49 years old, …
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23 February 2021 2:54 am
Wall Street Closes Mostly Lower as Treasury Yields Rise
The New York Stock Exchange (NYSE) indices closed mostly lower on Monday, beginning the week with a mixed performance amid a rise by the U.S. Treasury yields which negatively impacted the sentiment of Wall Street investors. The Dow Jones Industrial Average finished higher by 27.37 points, or 0.1%, at 31,521.69 …
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23 February 2021 2:17 am
USD Maintains Downward Trend
The U.S. Dollar (USD) declined on Monday despite the rise in Treasury bond yields, amid expectations for economic recovery from the Coronavirus pandemic. Expectations for a surge in inflation due to the easing policies of the Federal Reserve and the expected increased stimulus spending by the Biden administration are contributing …
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23 February 2021 1:24 am
Fed’s Kaplan Expects U.S. Economy to Grow by 5% or More
President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Monday that he expects the United States economy to register a growth rate of 5% in 2021, Reuters reported. Kaplan noted that he might be underestimating the recovery of the American economy from the Coronavirus crisis. “If we …
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23 February 2021 12:58 am
Oil Prices Score Strong Gains as Winter Storm Impact Continues
Oil prices rose on Monday, reaching their highest level in about a year, with anticipation for the return of crude production and refining capacities in Texas, the United States, following the recent winter storms. Production recovery is reportedly expected to take a time longer than previously estimated. Brent crude futures …
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23 February 2021 12:45 am
Gold Returns to Gains and Restores $1,800 Level
Gold prices rose on Monday, opening the week with a positive performance and restoring the $1,800 key price level, amid expectations for a rise in inflation. In addition, the decline by the U.S. Dollar (USD) helped gold returns to gains, scoring its biggest daily rise since early January. The yellow …
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22 February 2021 10:00 pm
Yellen: Bitcoin Can Be Extremely Volatile
The United States Treasury Secretary Janet Yellen said on Monday that Bitcoin is an inefficient way of conducting transactions, pointing once again to the dangers of speculative trading of the digital currency. Remarks by Yellen came during an interview with CNBC and in line with her comments last week that …
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22 February 2021 9:30 pm
European Stocks Close Lower as Treasury Yields Rise
European stocks declined on Monday, amid a continuous rise in Treasury bond yields and expectations for a surge in inflation. The STOXX Europe 600 index fell by 0.36% to close the first session of the week at the level of 413.39 points. Meanwhile, the German benchmark index DAX closed lower …
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