Gold prices closed modestly lower on Wednesday for the second time in three sessions, despite a mostly negative performance by the U.S. Dollar (USD). An improvement in risk appetite and rising stocks limited the demand for the yellow metal as a safe haven investment after a slew of mixed economic …
Read More »Sterling Declines Following BoE’s Decision, US Labor Data Fuels Fed Cut Bets
The British Pound weakened against the US Dollar following the Bank of England’s decision to k…
BoE’s Bailey Signals Scope for Rate Cuts After Narrow 5–4 Hold Vote
Bank of England Governor Andrew Bailey struck a cautiously dovish tone on Thursday after the central…
Bank of England Holds Rates at 3.75%, Split Vote Signals Cuts Ahead
The Bank of England kept interest rates unchanged at its first policy meeting of the year on Thursda…
Alphabet Beats Earnings Estimates but Massive 2026 Capex Forecast Weighs on Shares
Alphabet (NASDAQ:GOOGL) topped Wall Street expectations on both earnings and revenue for the fourth …
European Stocks Mixed as Earnings Take Center Stage Ahead of ECB, BoE Decisions
European equity markets traded in a mixed fashion on Thursday, as investors weighed overnight weakne…
Bitcoin Slides Toward $70,000 as Thin Liquidity and Tech Stock Rout Hit Risk Assets
Bitcoin slumped nearly 8% on Thursday, falling toward the $70,000 level as thinning liquidity and a …
Trump, Xi Hold Wide-Ranging Call Ahead of April Visit, With Taiwan and Iran in Focus
U.S. President Donald Trump said on Wednesday that he held a “long and thorough” phone call with Chi…
Gold Retreats in Asia as Silver Suffers Sharp Selloff on Dollar Strength
Gold prices reversed earlier gains and moved lower in Asian trading on Thursday, while silver plunge…
Recent Bitcoin Crash Signals a Deeper Crisis
Bitcoin has tumbled nearly 40% from its October peak, while Ethereum has lost half its value over th…
Fed’s Lisa Cook Flags Inflation Risks Amid Steady Growth
U.S. Federal Reserve Governor Lisa Cook said Wednesday that risks remain tilted toward higher inflat…
Market Analysis
September, 2021
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1 September 2021 11:25 pm
U.S. Home Prices Continue to Surge with Tight Supply
Home prices in the United States increased in June by 18.6% on an annual basis, as shown by the latest reading of the S&P CoreLogic Case-Shiller Home Price Index. The index registered a third consecutive record increase. The gauge of home prices in 20 cities and major metropolitan areas Home …
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1 September 2021 10:59 pm
Canada’s Manufacturing Sector Expanded in August
Manufacturing activity in Canada expanded in August, showing its best improvement since April, data showed on Wednesday. The IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 57.2 in August from 56.2 in July. The new orders index rose to 55.8 from 55.3. The stocks of …
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1 September 2021 10:30 pm
The Brazilian Economy Contracted in Q2 – IBGE
The Brazilian economy contracted during the second quarter of the year, official data by IBGE showed on Wednesday. A second wave of the pandemic seems to have negatively impacted demand recovery in Latin America’s biggest economy. Brazil’s gross domestic product (GDP) declined by 0.1% on a quarterly basis against market …
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1 September 2021 10:00 pm
New COVID-19 Variant Spurs Concerns
The World Health Organization (WHO) has warned that a new strain of the coronavirus has been detected in many countries across the world. Named Mu, the first case infected with the new variant was discovered in Colombia last January but has now been identified in 39 countries. It has become …
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1 September 2021 8:40 pm
Amazon to Employ 55K More People Around the Globe
Amazon will offer 55,000 jobs around the world, in corporate and technology, over the coming months, CEO Andy Jassy reportedly told Reuters. Speaking to the press for the first time since he assumed the position in July, following the resignation of former CEO and Founder Jeff Bezos, Jassy said that …
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1 September 2021 8:04 pm
U.S. Construction Spending Rises in July
Construction spending in the United States increased in July, according to data by the U.S. Commerce Department on Wednesday. The construction spending rose by 0.3% compared with its level in June but surged by 9% on a yearly basis. The reading modestly exceeded market expectations.
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1 September 2021 7:35 pm
USD Trading Negatively in Early Trades
The U.S. Dollar (USD) is trading lower against major currencies on Wednesday, after the release of economic data that showed mixed conditions in the manufacturing sector and the jobs market. The Dollar Index (DXY) is up 0.23% at 92.42 in early trades after turning to the negative territory before the …
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1 September 2021 7:13 pm
OPEC Agrees to Plan on Gradual Output Hikes
As is widely expected, OPEC stuck to the plan to raise production by 400 barrels in October. The meeting is still going on to be updated…
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1 September 2021 6:50 pm
EIA: U.S. Oil Inventories Down 7.2 Barrels in a Week
Crude oil inventories in the United States decreased by 7.2 million barrels in the week ending August 27, according to official figures released on Wednesday by the U.S. Energy Information Administration (EIA). Commenting on the data, “business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented …
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1 September 2021 6:43 pm
ISM Manufacturing PMI Improves to 59.9 in August
The U.S. manufacturing sector saw an improving level of business activity last month, according to data released today. The manufacturing purchasing managers’ index (PMI) posted 59.9 in August, rising by 0.5% compared to 59.5 in july. Further details of the publication revealed that the Employment Index declined to 49 from 52.9 …
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1 September 2021 6:34 pm
Wall Street Opens at Record Highs, Focus on Economic Data
The Nasdaq hit a record high on Wednesday as weaker-than-expected private-sector jobs data fueled hopes of an extension of support from the US Federal Reserve. The Dow Jones Industrial Average rose 26.82 points, or 0.08 percent, to 35,387.55 points The Standard & Poor’s 500 indexes increased by 6.12 points, or …
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1 September 2021 5:10 pm
US Private Sector Employment rises by 374K in August
Employment in the US’ private sector increased by 374,000 in August, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed July’s increase of 326,000 (revised from 330,000) and missed the market expectation of 613,000 by a wide margin.
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