Gold prices declined on Friday, as the U.S. Dollar (USD) rebounded from its recent losses, but the yellow metal was able to maintain the key $1,800 level by the end of the week to register weekly gains. Front month futures closed lower by $18.60 or 1.02% at $1812.60 per ounce. …
Read More »Deregulation: Miran Signals a Path to Lower Prices
Federal Reserve Governor Stephen Miran underscored the powerful role deregulation is playing in resh…
Europe in Focus: Greenland Talks and Poland’s Rate Decision Keep FX Markets on Edge
Two Quiet Events, One Shared Risk Foreign exchange markets are keeping a close watch on two Europe-r…
U.S. Retail Sales Beat Expectations, Signaling Resilient Consumer Demand
U.S. retail sales grew more than expected in November, rebounding from a contraction in the previous…
U.S. Futures Slip as Investors Eye Bank Earnings and Producer Inflation Data
U.S. stock index futures traded lower on Wednesday as investors prepared for another wave of earning…
Bitcoin Jumps as Strategy Makes $1.3 Billion Purchase, But U.S. Retail Demand Remains Weak
Bitcoin climbed sharply on Wednesday after major corporate holder Strategy announced a fresh multibi…
Dollar Holds Steady Ahead of U.S. Data as Yen Slides to 18-Month Low
The U.S. dollar steadied in European trade on Wednesday as investors awaited another round of key in…
Oil Prices Ease After Surge as Traders Weigh Iran Risks Against U.S. Stockpiles
Oil prices edged lower in Asian trading on Wednesday after the previous session’s sharp rally driven…
European Stocks Edge Higher as Greenland Talks and Geopolitics Dominate
European equity markets opened modestly higher on Wednesday, as investors remained focused on escala…
CPI Sends Mixed Signals as US Jobs Lift the Dollar and Pressure the Euro
Cooling Inflation Fails to Weaken the Dollar: The euro slipped against the US dollar as markets reac…
JPMorgan Shares Slide After Q4 Earnings Amid Apple Card Reserve and Weak Deal Fees
Shares of JPMorgan Chase & Co. fell about 4.2% in after-hours trading Tuesday to $310.90 follow…
Market Analysis
July, 2021
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30 July 2021 9:59 pm
European Stocks Decline but Finish July with Gains
Europe’s stocks declined on Friday, retreating after closing Thursday’s trading session at a new all-time high, following the release of inflation data and more earnings reports. The STOXX Europe 600 Index lost 2.10 points or 0.45% and closed at 461.74 points. Travel and leisure stocks led today’s decline and plunged …
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30 July 2021 8:24 pm
USD Rebounds Trying to Limit Weekly Losses
The U.S. Dollar (USD) is showing some recovery signs on Friday, following steep declines over the past four sessions, which brought the greenback to its lowest level in about six weeks against major currencies. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies …
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30 July 2021 5:46 pm
Canada: Real GDP Contracts by 0.3% in May as Expected
Canada’s Real Gross Domestic Product (GDP) contracted at a monthly rate of 0.3% in May, the data published by Statistics Canada showed on Friday. This print followed April’s decline of 0.5% and came in line with the market expectation.
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30 July 2021 4:51 pm
US Annual Core PCE Inflation Rises to 3.5% in June
Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.5% in June, the US Bureau of Economic Analysis reported on Friday. On a yearly basis, the PCE Price Index remained steady at 4%. The annual Core PCE Price Index, the Federal Reserve’s …
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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
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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