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Market Analysis

August, 2021

  • 4 August 2021 11:32 am

    Gold Rises on Weak Dollar Ahead of US Jobs Data

    Gold prices rose on Wednesday, August 4th, supported by the weak dollar, but the rise in precious metal prices remained in a narrow range, as investors awaited indications from the US jobs data regarding the recovery of the labor market. Spot gold rose 0.2% to $1,813.31 an ounce, while US …

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  • 4 August 2021 10:43 am

    U.S Gas Futures Records The Best Daily Performance in Nearly Two Weeks

    US natural gas futures rose, recording their largest one-day gain in nearly two weeks, with expectations of hotter weather conditions continuing over the coming weeks, which tends to increase demand for air cooling. Gas contracts rose to the nearest maturity by 2.3% to settle at $ 4.027 per million British …

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  • 4 August 2021 4:56 am

    Robinhood Surges After Start Slow on Wall Street

    Robinhood

    The stock of Robinhood, the U.S.-based financial services company that pioneered commission-free trading and became famous on the back of meme trading, is witnessing a strong beginning days after its debut on Wall Street. The initial public offering of Robinhood was completed on Thursday, and the company’s stock was listed …

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  • 4 August 2021 4:23 am

    U.S. Oil Stocks Down 879K Barrels in Week – API

    Crude oil inventories in the United States fell by 879,000 barrels last week, according to estimates by the American Petroleum Institute (API) released late Tuesday. Meanwhile, the stockpiles of gasoline and distillates declined by 5.8 million and 717,000 barrels, respectively. Official inventory data by the Energy Information Administration (EIA) is …

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  • 4 August 2021 4:15 am

    Wall Street Rebounds and S&P 500 Logs New Record High

    The New York Stock Exchange (NYSE) closed higher on Tuesday, recovering from yesterday’s losses after struggling for direction earlier in the session, due to pressures on the tech sector. However, Wall Street investors showed more focus towards earnings reports, with an improved sentiment driving the S&P index to a new …

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  • 4 August 2021 1:44 am

    Oil Closes Lower for Second Straight Day

    Increasing concerns about the resurgence of the coronavirus pandemic with an increased number of new infections with the Delta variant led oil prices to a second consecutive daily loss on Tuesday. Pandemic-related concerns are leading to mixed expectations about demand recovery as the economic rebound from the coronavirus crisis remains …

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  • 4 August 2021 12:30 am

    Silver Maintains Rising Trend for Second Day

    Silver prices rose on Tuesday, for the second consecutive session, amid improved demand from investors. Silver front-month contracts added less than a cent, or 0.04%, to finish at $25.566 per ounce. Silver modest gains come despite another decline by gold futures, amid an increase by the U.S. Dollar (USD) and …

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  • 3 August 2021 11:12 pm

    Gold Settles Lower as Dollar Edges Higher

    Gold prices finished lower on Thursday, amid a fluctuating performance by the U.S. Dollar (USD) that edged higher into the positive territory. The yellow metal’s front-month futures lost $8, or 0.44%, to $1,810.10 per ounce. Since the beginning of the year, gold’s contract has declined by about $83.00 or 4.38%. …

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  • 3 August 2021 10:08 pm

    European Stocks Close at New Record High

    European stocks managed to close higher on Tuesday, with the release of some positive earnings reports by major companies, to log yet another record high closing level. The STOXX Europe 600 Index edged higher by 0.20% to finish at 465.38 points. The French CAC40 index rose by 47.91 points or …

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  • 3 August 2021 7:44 pm

    U.S. Factory Orders Rise 1.5% in June

    Factory orders in the United States increased by 1.5% in June, official data by the U.S. Department of Commerce showed on Tuesday. Orders for durable goods rose 0.9%, while nondurable goods orders grew by 2.1%. Capital goods orders, excluding aircraft and military equipment, went up by 0.7% in June. The …

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  • 3 August 2021 5:19 pm

    The US Yields Near Six-Month Lows

    The yield on the benchmark 10-year Treasuries traded near 1.18% after dropping to 1.15%, the lowest in nearly 6 months amid weak data and as investors remain concerned about a spike in COVID-19 cases.

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  • 3 August 2021 4:09 pm

    Survey Shows US Employment Slowed in July

    UKG said employee growth within the US, across a wide range of industries, grew by 1.1% from mid-June to mid-July, coinciding with the period in which the Federal Government Employment Survey was conducted. That was about half of the 2% growth rate seen between May and June before the massive …

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  • 3 August 2021 3:05 pm

    Currencies Overview: New Zealand And Australian Dollars Jump on Central Banks

    New Zealand and Australian dollars made the biggest gains among the major currencies on Tuesday, supported by comments from the two countries’ central banks, while the US dollar fell against the Japanese yen and the Swiss franc amid some risk aversion in the markets. The Australian dollar rose strongly after …

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