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Market Analysis

July, 2021

  • 30 July 2021 3:54 pm

    Turkey’s Trade Deficit Narrowed Slightly to $2.85B in June

    Data from the Turkish Statistical Institute showed on Friday that the country’s foreign trade deficit shrank 0.2% year on year in June to $2.853 billion, according to the general trade system. After the trade was severely affected in the same period a year ago by the COVID-19 pandemic, Turkey’s exports …

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  • 30 July 2021 3:07 pm

    Japan Extends State of Emergency, COVID-19 Cases Surge Over Olympics

    Japan has decided to expand the scope of the state of emergency to three prefectures near Tokyo, which hosts the Olympic Games, and Osaka prefecture in the west of the country, with an increase in cases of COVID-19 that severely affected the summer games. Tokyo is already subject to its …

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  • 30 July 2021 2:20 pm

    Eurozone Preliminary GDP Rebounds 2.0% in Q2

    The Eurozone economy rebounded 2.0% on quarter in the three months to June of 2021, beating 1.5% expected and -0.3% prior, the first estimate showed on Friday. On an annualized basis, the bloc’s GDP rate expanded by 13.7% in Q2 vs. -1.3% booked in the first quarter of 2021 while …

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  • 30 July 2021 1:48 pm

    Eurozone Preliminary CPI Rises to 2.2% in July

    According to Eurostat’s preliminary reading of the Eurozone CPI report, the annual figure came in at 2.2% in July, outpacing expectations of 2.0% while rising from June’s reading of 1.9%.

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  • 30 July 2021 1:13 pm

    European Shares Fall From Record Levels

    European shares retreated from record highs on Friday, as concerns about the rapidly spreading mutated delta strain of the coronavirus and regulatory moves in China outweighed optimism about the quarterly earnings season and economic recovery. The pan-European STOXX 600 index fell 0.8% by 0714 GMT, while Asian stocks are heading …

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  • 30 July 2021 12:21 pm

    Nikkei Closes at Its Lowest Level in More Than 6 Months on Virus Fears

    Japan

    The Japanese Nikkei index closed at its lowest level since the beginning of the year as investor sentiment was negatively affected by the rise in Covid-19 cases, some disappointing earnings announcements, and a decline in US stock futures. The Nikkei fell 1.8% to close at 27,283.59 points, the largest drop …

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  • 30 July 2021 11:54 am

    Gold Settles Near Its Highest Level in Two Weeks

    Gold prices fell slightly during trading on Friday, but they remain near their highest levels in two weeks. With it heading to close the week with the highest rise since May 21, due to signs that the Federal Reserve is not ready to scale back its asset purchases program or …

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  • 30 July 2021 11:18 am

    France: Economic Growth in Q2 Better Than Forecast

    French Finance Minister Bruno Le Maire said that the second-quarter economic performance was ‘exceptional’ after the economy expanded 0.9% QoQ in Q2 vs. 0.8% expectations. “Q2 French economic performance puts France on track to meet its 6% growth target for whole of 2021.”

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  • 30 July 2021 10:42 am

    Oil Prices Falling, But on The Path to Achieving a Significant Weekly Gain

    Oil prices fell but were still on track to achieve significant weekly gains, with demand growing at a faster pace than supply, while vaccinations are expected to mitigate the impact of a new rise in Covid-19 cases around the world. Brent crude futures for September delivery, which expire on Friday, …

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  • 30 July 2021 3:48 am

    Wall Street Rally Ignores Economic Data

    The main indices of the New York Stock Exchange (NYSE) finished Thursday higher, despite a weaker than expected GDP growth numbers registered in the second quarter, as Wall Street investors seemed more optimistic about the Federal Reserve vowing to maintain the low-interest rates for the time being. Accordingly, the Dow …

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  • 30 July 2021 3:01 am

    USD/CAD at Lowest Level in Three Weeks as Oil Prices Surge

    The Canadian Dollar (CAD) capitalized on the decline of the U.S. Dollar (USD) across the board and the surge in crude oil prices to rise to its highest level in about three weeks. The USD/CAD pair declined by about 0.64% and reached the level of 1.2448 by the end of …

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  • 30 July 2021 2:50 am

    Oil Settles at Two-Week High

    Oil prices rose registered their largest rise in a week, joining an upward trend by most commodities amid a decline by the U.S. Dollar (USD). Crude oil futures also continued to be supported by the weekly decline in U.S. inventories, as official data showed on Wednesday, easing recent concerns about …

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  • 30 July 2021 2:28 am

    Swiss Franc Rises on the Back of Dollar Woes

    The Swiss Franc (CHF) surged against the declining U.S. Dollar (USD) on Thursday, amid a broad decline by the greenback that followed the release of the Federal Reserve policy statement. The Fed vowed to maintain its current accommodative policy, keeping interest rates and asset purchases unchanged, and expecting to hold …

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