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Market Analysis

April, 2021

  • 1 April 2021 9:38 pm

    European Stocks Close Higher Following Positive PMI Reading

    European stocks finished higher on Thursday, supported by an improved investors’ sentiment following the release of positive economic data. The STOXX Europe 600 index finished higher by 0.67% at 432.49 points, on the back of a 2% rise by the technology sector. Earlier today, data showed that the manufacturing activity …

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  • 1 April 2021 9:32 pm

    USD Declines Following Rise in Unemployment Claims

    The U.S. Dollar (USD) declines across the board on Thursday, after data showed a rise in jobless claims in the United States, prompting concerns about the pace of economic recovery from the impacts of the Coronavirus pandemic. The Dollar Index (DXY), which measures the greenback’s performance against a basket of …

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  • 1 April 2021 7:12 pm

    U.S. Natural Gas Inventories Down 14 bcf in Week

    Natural gas inventories in the United States increased by 14 billion cubic feet (bcf) last week, according to data by the U.S. Energy Information Administration (EIA). The EIA weekly report showed on Thursday that natural gas supplies reached 1.764 trillion cubic feet, decreasing by 225 bcf compared with the same …

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  • 1 April 2021 6:09 pm

    ISM US Manufacturing PMI Jumps in March

    The business activity in the US manufacturing sector grew at its strongest pace since 1983 with the ISM Manufacturing PMI rising to 64.7 in March from 60.8. This reading came in better than the market expectation of 61.3.

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  • 1 April 2021 5:44 pm

    Canada: Markit Manufacturing PMI Rises to Highest Level in 10 Years

    The business activity in Canada’s manufacturing sector continued to expand at a robust pace in March with the IHS Markit Manufacturing PMI rising to 58.5 from 54.8 in February.

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  • 1 April 2021 5:07 pm

    US: Challenger Job Cuts Drop in March

    Planned job cuts in the US-based employers dropped to 30,603 in March from 34,531 in February, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday. This reading represented an 86% decline from the 222,288 job cuts announced in the same month last year when businesses were …

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  • 1 April 2021 4:38 pm

    US: Weekly Initial Jobless Claims Rise to 719K

    There were 719,000 initial claims for unemployment benefits in the US during the week ending March 27, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 658,000 (revised from 684,000) and came in worse than the market expectation of …

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  • 1 April 2021 3:45 pm

    Copper Drops to 6 Weeks Low

    Copper fell to its lowest level in six weeks below $4 a pound, weighed by worries about demand from consuming China as well as supply disruptions after the Caixin survey showed that Chinese manufacturing activity in March expanded unexpectedly at the slowest pace in nearly a year. Copper prices fell …

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  • 1 April 2021 3:39 pm

    Eurozone Factory Activities Rise in March

    The monthly growth of factory activities in the euro area increased at the fastest pace in the history of an important survey of companies extending to nearly 24 years last month, but disruptions in supply chains and renewed general isolation measures in the region may curb activity soon. With Europe …

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  • 1 April 2021 2:52 pm

    UK Final Manufacturing PMI Beats Estimates in March

    The UK manufacturing sector activity quickened its pace of expansion in the month of March, the final report from IHS Markit confirmed on Thursday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) was revised higher to 58.9 in March versus 57.9 expected and 57.9 first readout.

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  • 1 April 2021 2:37 pm

    Reuters: OPEC+ Hesitant Between Extending oil Production Cuts and Increasing Supplies

    OPEC

    Sources in OPEC + told Reuters that the group will discuss two main options for oil policy in May and after that, including an extension of existing cuts and a gradual increase in production. Two sources said the increase would not exceed 0.5 million barrels per day.

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  • 1 April 2021 1:59 pm

    French Minister of Health: The Peak of Corona’s Infection May be Within 10 Days

    French Health Minister Olivier Ferrand told Radio France Inter that the country could reach the peak of the third wave of the Covid-19 pandemic within 7 to 10 days after President Emmanuel Macron announced on Wednesday new restrictions to combat the pandemic. Macron ordered the imposition of the third general …

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  • 1 April 2021 1:27 pm

    Oil Gaining as OPEC+ Meets to Decide on Production Policy

    Oil prices rose on Thursday, April 1, to offset some of the losses incurred in the previous session, as hopes grew that OPEC and its allies, who will meet later today, will decide to continue curbing production in the face of a new rise in Covid-19 infections in some areas. …

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