Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …
Read More »Dow Jones Pulls Back From Record High as Tech Selloff and Rising Oil Prices Rattle Markets
The Dow Jones Industrial Average briefly reached a new all-time high on Tuesday before giving up its…
Gold Rebounds as Central Bank Buying Strengthens Long-Term Support
Gold prices recovered on Tuesday after an early decline, with the precious metal regaining momentum …
AI Chip Rally Returns as Oil Prices Retreat: Can the Technology Boom Keep Driving Global Markets?
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Japanese Yen Slides Toward 40-Year Lows as Markets Doubt Immediate Government Action
The Japanese Yen came under renewed selling pressure at the start of the week, pushing the US Dollar…
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June ISM Services PMI Points to Cooling Business Activity in the US
The US services sector continued to expand in June, although growth eased slightly from the previous…
Dollar’s Cautious Climb Signals Bigger Moves Ahead as Fed Decision Looms
The US dollar is edging higher today, posting modest gains that reflect a mood of cautious optimism …
Oil Prices Rise as Weak US Jobs Data and Middle East Tensions Boost Market Sentiment
Crude Oil Rebounds as Dollar WeakensOil prices moved higher on Friday, recovering part of their rece…
Euro Struggles to Build Momentum as Markets Reassess Fed and ECB Rate Outlook
The euro posted modest gains against the US dollar on Friday but struggled to extend its advance as …
Market Analysis
November, 2021
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23 November 2021 10:58 pm
Treasury Yields Higher As Fed Expected To Act On Inflation
US Treasury yields edged higher in uneven trading in a holiday-shortened week on Tuesday as investors prepared for the Federal Reserve to become more aggressive in fighting inflation after Biden nominated its chair Jerome Powell for a second term. The yield on 10-year Treasury notes was up 3.1 basis points …
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23 November 2021 9:02 pm
Haskel: BofE Should Be Watchful On Labour Costs
Policymaker Jonathan Haskel indicated, Tuesday, that the Bank of England needs to be watchful about rising labour costs as a tight job market means wages might rise faster than productivity and put upward pressure on inflation.BoE Governor Andrew Bailey says interest rates are likely to rise and investors see a …
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23 November 2021 8:43 pm
French fishermen Threaten Action Amid Stalling Brexit Talks
French fishermen are planning actions, including possibly blocking British vessels’ access to French ports, in protest against Britain’s refusal to grant them more licenses to operate in UK territorial waters, fishermen said on Tuesday.France and Britain have been at loggerheads for months over how many licenses French fishermen should get …
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23 November 2021 8:05 pm
US Factory Activity Growth Kept Pace in November
Manufacturing activity in the central Atlantic region of the U.S. surged in November at broadly the same pace as in October, according to a survey compiled by the Federal Reserve Bank of Richmond released Tuesday.The Fifth District Survey of Manufacturing Activity’s composite index in November is 11, down from 12 …
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23 November 2021 7:46 pm
Biden to Address State of US Economy
Americans await a new address by President Joe Biden on the state of the US economy. Biden’s speech comes as prices soar 6.2% over the past 12 months.54% of Americans say cost of groceries and gas is a major crisis. Biden to release 50m barrels of reserve oil in effort …
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23 November 2021 7:37 pm
PMI Survey: US Economic Growth Slowed Slightly in November,
US private sector growth remained robust in November, although losing some pace as activity slowed among services providers, according to a survey of purchasing managers.The flash US composite output index decreased to 56.5 in November from 57.6 in October, a two-month low, according to data from IHS Markit released Tuesday. …
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23 November 2021 6:26 pm
Market Drivers – European Session 23-11-2021
The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …
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23 November 2021 5:43 pm
Biden to Release Oil Reserves to Combat High Gas Prices
The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …
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23 November 2021 4:56 pm
The Dollar is at a 16-Month High, With a US Interest Rate Hike Expected in 2022
The dollar index rose to its highest level in 16 months and its strongest level in more than four years against the yen after the nomination of Federal Reserve Chairman Jerome Powell for a second term in office, which reinforced market expectations of higher US interest rates in 2022.The exchange …
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23 November 2021 3:39 pm
Gold Falls More Than 2% After Powell
Gold prices fell more than 2% today, Monday, as the US dollar jumped after the re-nomination of Federal Reserve Chairman Jerome Powell for a second term, This fueled expectations that the US central bank would continue the Fed policy. Gold in spot transactions was down 2.08% at $ 1806.20 an …
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23 November 2021 2:39 pm
European Shares Fall Due to Higher Covid-19 Cases
European shares fell to a three-week low on Tuesday, November 23, after a resurgence of Covid-19 cases and concerns about interest rate hikes dampened sentiment ahead of flash readings on business activity in the eurozone. The European STOXX600 index fell by 1% after Asian markets followed Wall Street’s lead in …
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23 November 2021 1:41 pm
Market Drivers – Asian Session 23-11-2021
The Manufacturing PMI in Eurozone’s economic powerhouse came in at 57.6 this month vs. 56.9 expected and 57.8 prior. The index hit fresh ten-month lows. Services PMI reached two-month highs of 53.4 in November as against 51.5 estimated and 52.4 previous. The Eurozone manufacturing sector activity improved more than expected …
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