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Market Analysis

May, 2021

  • 24 May 2021 12:41 pm

    European Shares Hovering Near All-Time Highs

    European stocks hovered near all-time highs on Monday, as investors counted on the ongoing economic recovery and positive corporate business results to keep market momentum going. The pan-European STOXX 600 index rose 0.02% to 444.50 points, not far from its highest level ever at 446.19 points. Cineworld Group shares rose …

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  • 24 May 2021 12:20 pm

    Japanese Stocks Closed Higher on Hopes For Global Economic Growth

    Japan

    Japanese stocks closed higher on Monday, driven by a boost from stocks sensitive to global economic growth, as investors were optimistic about positive data on US factory activities that helped the Dow index to close, adding to an increase in the previous session. The benchmark Nikkei index advanced 0.17% to …

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  • 24 May 2021 3:10 am

    Weekly Recap: 17-21 May

    The third week of May was highlighted by the release of last month’s Federal Reserve meeting minutes, which surprised the markets by showing that some members of the Federal Open Market Committee (FOMC) believe that if the economic recovery in the United States continues to gather pace, it might be …

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  • 22 May 2021 2:57 am

    EUR/USD Limits its Weekly Gains as the Dollar Recovers

    Eurozone

    The Euro (EUR) declined by 0.38% against the U.S. Dollar (USD) on Friday, as the greenback rebounded from recent losses. For the week, the EUR/USD pair recorded a 0.33% rise. Business activity in the Eurozone expanded during May, growing by the best pace in more than three years, official data …

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  • 22 May 2021 2:04 am

    Wall Street Closes Week Mixed Following Fluctuations

    The New York Stock Exchange (NYSE) finished Friday on a mixed note, as positive economic data reflected positively amid an improved risk sentiment amid Wall Street investors. The Dow Jones Industrial Average rose by 123.69 points, or 0.36%, to close at 34,207.84 points. The S&P 500 lost 3.26 points, or …

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  • 22 May 2021 1:14 am

    Bitcoin Extends Losses After China’s Crackdown

    Bitcoin extended its losses on Friday, after China announced plans to crackdown on the digital currency. The Chinese Vice Premier, Liu He, announced plans by the government to crack down on Bitcoin’s mining and trading activities, as the Chinese Financial Stability and Development Committee announced earlier today that measurements against …

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  • 22 May 2021 12:57 am

    Oil Finishes the Week in Losses

    Oil and Gas oil (

    Oil prices rose on Friday, amid possible supply disruptions in North American due to a subtropical storm forming near the Gulf of Mexico. However, crude futures failed to recover all of its weekly losses. Brent crude futures for July delivery gained $1.33, or 2%, to settle at $66.44 per barrel. …

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  • 21 May 2021 11:17 pm

    Gold Maintains Gains for Third Straight Week

    Gold prices declined on Friday, after rising for six consecutive sessions, as risk sentiment improved and stock markets rebounded from recent declines, which led to reduced demand for safe haven assets. A rising U.S. Dollar (USD) also weighed down on gold’s futures. In addition, some profit taking activity probably led …

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  • 21 May 2021 10:07 pm

    European Stocks Recover and Finish the Week in Gains

    European stocks closed higher on Friday, supported by positive economic data that took the attention away from inflation fears. Economic indicators showed an improvement in France’s business activity and the German services sector, with readings exceeding expectations in May. The STOXX Europe 600 index finished higher by 0.61%, with the …

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  • 21 May 2021 9:03 pm

    Dollar Rises on the Back of Positive Economic Data

    The U.S. Dollar (USD) is rising on Friday, supported by positive economic data that showed an expansion in the output of the services and industrial sectors, registering fresh daily highs, after hitting its lowest level in roughly four months. However, the greenback is yet to recover all of its weekly …

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  • 21 May 2021 8:03 pm

    U.S. Home Sales Decline in April for Third Straight Month

    Home sales in the United States continued to decline during April for the third consecutive month, data showed on Friday. According to the National Association of Realtors (NAR) existing home sales fell by 2.7% to a seasonally adjusted annual rate of 5.85 million units last month. Meanwhile, home sales rose …

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  • 21 May 2021 7:20 pm

    U.S. Factory, Services Activities Expand in May

    Factory activity in the United States expanded this month, supported by a robust local demand, data showed on Friday. The flash U.S. manufacturing purchasing managers’ index (PMI) rose to 61.5 in the first half of May from 60.5 in April, according to IHS Markit. This marked the highest reading for …

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  • 21 May 2021 5:44 am

    Federal Reserve Studying Plans for Digital Currency

    The United States Federal Reserve is showing more signs that it is moving forward with efforts to establish its own official digital currency. The Fed announced on Thursday that it plans to publish a research paper in the summer that explores the prospects of issuing a digital currency, CNBC reported. …

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