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Market Analysis

August, 2021

  • 3 August 2021 7:21 am

    Fed’s Waller Expects Tapering to Begin Next Month

    The United States Federal Reserve might begin cutting back the massive asset purchases as early as October, Governor Christopher Waller told CNBC in an interview on Monday. “In my opinion, that’s substantial progress and I think you could be ready to do an announcement in September.” Waller thinks it all …

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  • 3 August 2021 6:35 am

    Third of New COVID Cases in U.S. Come from TWO STATES!

    One out of every three new cases infected with the novel coronavirus (COVID-19) in the United States were in Florida and Texas last week, according to a Biden administration counselor. Jeff Zients, White House Coronavirus Response Coordinator, told reporters in a press briefing on Monday that 17% of cases were …

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  • 3 August 2021 5:48 am

    NYSE Finishes Lower Reversing Earlier Gains

    The New York Stock Exchange (NYSE) finished Monday mostly in losses, erasing earlier gains amid worries about recovery from the coronavirus pandemic, with the rising number of infections with the new Delta variant, especially after the PMI showed slower expansion in U.S. economic activity last month. The Dow Jones Industrial …

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  • 3 August 2021 4:50 am

    Oil Snaps Three-Session Rising Streak with Large Losses

    Oil prices closed lower on Monday, amid increased concerns about the pace of economic recovery from the coronavirus pandemic with the rising number of infections with the new Delta variant, especially after indicators showed slower growth in activity in the U.S. and China last month. PMI readings in the world’s …

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  • 3 August 2021 1:38 am

    Gold Closes Higher as USD and Treasury Yields Fade

    Gold prices finished higher on Monday as the U.S. Dollar (USD) declined across the board with Treasury bond yields falling to their lowest level in about six months. The yellow metal remains supported by the mixed economic data are concerns over the spread of the novel coronavirus Delta variant. Gold …

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  • 2 August 2021 9:02 pm

    European Stocks Hit New Record High

    An improvement in investors’ sentiment helped European stocks finish at a new record level on Monday, opening the first session of August with a positive performance after gaining about 2% in July. The STOXX Europe 600 index closed higher by 0.59% at a new record high of 464.45 points. Gains …

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  • 2 August 2021 8:50 pm

    USD Extends Losses After PMI Reading

    The U.S. Dollar (USD) is maintaining a downward trend on Monday, opening the week with a negative performance across the board. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.18% at 92. Earlier today, the index touched a daily …

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  • 2 August 2021 7:48 pm

    U.S. Construction Spending Rises Modestly in June

    Construction spending in the United States increased marginally in June, data by the U.S. Department of Commerce showed on Monday. An increase of 0.1% in June brought construction expenditure to a seasonally adjusted annual rate of $1.55 trillion. The May reading was revised upwards to show a 0.2% decline, versus …

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  • 2 August 2021 5:40 pm

    IMF: USD Likely Overvalued by 8.2% With a Range of 5.2% to 11.2% During 2020

    In its recently published External Sector Report, the International Monetary Fund noted that they have assessed the US dollar as likely overvalued by 8.2% with a range of 5.2% to 11.2% during 2020, as reported by Reuters.

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  • 2 August 2021 4:29 pm

    Germany: Manufacturing Sector Improves in August

    Data from the Markit released this morning, Monday, showed that the preliminary reading of the PMI data in the manufacturing sector in Germany rose better than expected during this August, as the preliminary reading of the index recorded about 65.9 points, while market expectations indicated that the index would stabilize …

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  • 2 August 2021 3:37 pm

    Aramco Denies Bitcoin Rumor

    A few days ago, Amazon denied news of its intention to accept Bitcoin as a payment method in the near future, but company officials did not rule out the matter in the future. Hours ago, Saudi Aramco confirmed that the allegations that it plans to engage in Bitcoin activities are …

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  • 2 August 2021 2:36 pm

    Turkey’s Trade Deficit Rises to $4.3B in July

    Turkey’s trade deficit increased by 52.4% to $4.3 billion in July. The Turkish Ministry of Trade said that exports rose in July by 10.2% to record 16.41 billion dollars, after being hit in the spring of last year due to the impact of the Covid-19 pandemic on trade with Ankara’s …

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  • 2 August 2021 1:48 pm

    Dollar Near One-Month Low as US Jobs Data Awaits

    The dollar approached a one-month low on Monday at the start of a busy week with US jobs data and a decision by the Australian Central Bank. The dollar index, which measures the performance of the US currency against six major currencies, recorded 92.065, slightly down from its level on …

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