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Market Analysis

November, 2021

  • 18 November 2021 2:16 am

    Treasury Yields Fall, Tepid Demand for 20-year auction

    US Treasuries rallied on Wednesday as the recent backup in yields reached levels that drew buyers back to the securities.10-year yields US10YT=RR reached 1.65%, the highest since Oct. 26, before reversing and falling back to 1.61%. They have increased from a low of 1.42% last week, before data showed that …

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  • 18 November 2021 1:58 am

    Washington Asks Big Countries To Coordinate Oil Reserve Releases

    Biden’s administration asked some of the world’s largest oil consuming countries to consider releasing a portion of their crude reserves in a coordinated effort to lower prices and stimulate the economic recovery.Reuters has quoted anonymous sources to convey the news late on Wednesday night. It is noteworthy that WTI crude …

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  • 18 November 2021 1:40 am

    AUD/USD Sinks To Fresh Lows

    AUD/USD has sunk to fresh lows to meet daily 0.7260s, sliding from a 0.7305 high hit by storm this week when the stronger US dollar coupled with a dovish RBA as hawkish expectations as well as pressures on the US Fed agitated. UK and US equities were softer as well. …

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  • 18 November 2021 1:27 am

    GBP/USD Posts Fresh Highs on BoE expectations

    At 1.3490, the GBP/USD pair is trading near to the highs of Wednesday’s US session. This move signals the pair’s ability to depart a 1.3396 a low to start climbing to a one-week high after data showed UK inflation surged to a 10-year high last month.The pound is significantly firmer …

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  • 18 November 2021 12:23 am

    EIA: US Crude Stockpiles Fall

    US crude stocks fell unexpectedly last week as refineries, enjoying strong margins due to higher fuel prices, ramped up output ahead of the winter heating season, the Energy Information Administration said on Wednesday.Crude inventories dropped by 2.101 million barrels last week, compared with analysts’ expectations for a build of 1.398 …

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  • 18 November 2021 12:19 am

    USD/CAD Records Fresh Highs

    USD/CAD practically touched fresh highs at 1.2610 on Wednesday. The pair could slightly eclipse last week’s 1.2604 high and has since dropped back from session extremes a little.Crude oil markets have encountered pressure in recent hours, with WTI and Brent both now down by more than $2.0 during US session …

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  • 17 November 2021 11:19 pm

    Bitcoin Fluctuates As Traders Decelerate Speculation

    Bitcoin fluctuated around a key inflection point of $60,000 on Wednesday as traders appeared to rein in excessive speculation that is sent the world’s largest cryptocurrency to a record last week.Bitcoin has dropped roughly 13% from its all-time high of $68,990, recorded on Nov. 10, dipping below $60,000 on Wednesday.The …

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  • 17 November 2021 10:47 pm

    Visa Inc. Drags Card Industry Shares Lower

    About $25 billion in value erased from Visa’s market cap. Other cards stocks including Mastercard and Amex have declined. Not only did Visa Inc. severely drop on Wednesday, but also dragged down industry peers such as Mastercard Inc., after Amazon had announced it will stop accepting purchases made with the …

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  • 17 November 2021 10:30 pm

    Fed’s Williams: Treasury Market Need Support for Next Big Shock

    The New York Federal Reserve took unprecedented action to stabilize the Treasury market after it was disrupted at the start of the pandemic.Offering a stark reminder that markets need to be strengthened to get prepared for the next big shock, New York Fed Bank President John Williams said on Wednesday.In …

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  • 17 November 2021 9:59 pm

    Why is Biden Touring General Motors Plant?

    President Joe Biden, Wednesday is planning to tour a General Motors plant in Detroit, Wednesday, as he continues to sell the benefits of the recently signed $1 trillion infrastructure law. Biden is expected to highlight $7.5 billion in the new law automobile technology.Biden on Wednesday will visit a General Motors …

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  • 17 November 2021 8:48 pm

    Tech Shares Lead Wall Street Slump

    Dow Jones

    The Dow Jones Industrial Average dropped 150 points Wednesday, as Lucid Motors and Rivian skidded in morning trade. Tesla stock rallied, extending Tuesday’s gains. And Nvidia earnings are due after the stock market close.U.S. shares were trading modestly lower on Wednesday, a day after a positive session on Wall Street, …

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  • 17 November 2021 8:09 pm

    Official: Germany Must Cut Economic Dependency On China

    According to acting Health Minister Jens Spahn, Wednesday, the current pandemic increased Germany’s economic dependency on China in many sectors.Spahn added that an open discussion is needed on how to reduce an over-reliance on Asia’s rising giant.“We have experienced and had to experience how dependent we have become on China,” …

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  • 17 November 2021 7:38 pm

    Treasury Yields React To Housing Starts

    U.S. Treasury yields briefly inched higher on Wednesday morning, following the October housing starts and building permits report.The yield on the benchmark 10-year Treasury note ticked up less than a basis point to 1.639% at 9:50. The yield on the 30-year Treasury bond edged 1.6 basis points higher to 2.036%. …

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