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 …
Read More »Dollar Hits 1-Year High as Two Fed Hikes Now Priced: Yen Approaches 40-Year Low as Katayama Holds Emergency Talks With Bessent
Key Takeaways Dollar at 1-year peak: The DXY rose to 101.18 — its highest in over a year — driven by…
Nasdaq Futures Tumble 2.6% as AI Trade Cracks: Two Fed Hikes Now Priced as Samsung and SK Hynix Plunge 8-11%
Key Takeaways Futures crash: S&P 500 futures slid 1.36% to 7,371.6; Nasdaq 100 futures tumbled 2…
European Stocks Slide 1% as Iran Peace Euphoria Evaporates and Higher-for-Longer Rate Fears Return: ECB’s Next Move in Focus
Key Takeaways Sharp open in red: The Stoxx 600 fell 1%, Germany’s DAX dropped 1.3%, FranceR…
Gold Plunges 2% as December Fed Hike Odds Hit 90%: Dollar Near 13-Month High Squeezes Bullion From Both Sides
Key Takeaways Gold falls sharply: Spot gold dropped 1.8% to $4,117.61 per ounce, while gold futures …
Oil Edges Up After Monday’s 3% Crash: U.S. Issues 60-Day Iranian Oil Sanctions Waiver as Peace Deal Momentum Builds
Key Takeaways Modest rebound: Brent rose 0.3% to $78.10 per barrel, while WTI gained 0.4% to $74.18 …
Farewell to a Legend, Fed’s New Chapter Begins
The economic world bid farewell to one of its most influential figures, who passed away at the age o…
U.S. Markets Mixed as Tech Weakens and Oil Prices Retreat
Wall Street’s Uneven SessionU.S. stocks closed Monday on a divided note, with industrial strength li…
Washington, Tehran’s New Agreement Sparks Questions Over What Was Actually Signed
Less than a week after the United States and Iran signed a 60-day framework aimed at reducing tensio…
2.2 Trillion Dollar Valuation in Week One: SpaceX’s IPO Sends Investors Racing Toward the Future
SpaceX Surpasses Expectations as Market Bets on a New Era of Space and ConnectivityJust one week aft…
Micron Technology Poised for Strong Gains as Earnings Surge
As Micron Technology approaches the release of its third‑quarter earnings, investors are anticipatin…
Market Analysis
November, 2021
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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
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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17 November 2021 6:35 pm
Market Drivers – European Session 17-11-2021
The European session on Wednesday was mostly flat. Gold is now at $1,863.61 an ounce, up 0.7%, while gold contracts are at $1,865.7 an ounce, up 0.63%. As for the US dollar index DXY, which measures the currency’s strength against a basket of foreign currencies, it recorded 95.86, with a …
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