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Market Analysis

September, 2021

  • 2 September 2021 12:30 pm

    Oil Falls After OPEC + Confirms The Return of Supplies

    Oil prices fell after the Organization of the Petroleum Exporting Countries (OPEC) agreed to keep its policy of gradual supply back to the market unchanged as coronavirus cases soar around the world and many US refiners, a major source of crude demand, are out of business. Brent crude fell 15 …

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  • 2 September 2021 3:04 am

    Oil Closes Mixed Following OPEC’s Output Decision

    Oil prices showed a mixed performance on Wednesday after the OPEC+ alliance decided to maintain the gradual production increases, easing previous output cuts. The global benchmark, Brent crude, closed lower for the second day despite expectations for a rising demand this year, with fears over disruptions due to Hurricane Ida. …

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  • 2 September 2021 1:57 am

    Gold Turns to Losses Despite Dollar’s Decline

    Gold prices closed modestly lower on Wednesday for the second time in three sessions, despite a mostly negative performance by the U.S. Dollar (USD). An improvement in risk appetite and rising stocks limited the demand for the yellow metal as a safe haven investment after a slew of mixed economic …

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  • 1 September 2021 11:25 pm

    U.S. Home Prices Continue to Surge with Tight Supply

    Home prices in the United States increased in June by 18.6% on an annual basis, as shown by the latest reading of the S&P CoreLogic Case-Shiller Home Price Index. The index registered a third consecutive record increase. The gauge of home prices in 20 cities and major metropolitan areas Home …

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  • 1 September 2021 10:59 pm

    Canada’s Manufacturing Sector Expanded in August

    Manufacturing activity in Canada expanded in August, showing its best improvement since April, data showed on Wednesday. The IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 57.2 in August from 56.2 in July. The new orders index rose to 55.8 from 55.3. The stocks of …

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  • 1 September 2021 10:30 pm

    The Brazilian Economy Contracted in Q2 – IBGE

    The Brazilian economy contracted during the second quarter of the year, official data by IBGE showed on Wednesday. A second wave of the pandemic seems to have negatively impacted demand recovery in Latin America’s biggest economy. Brazil’s gross domestic product (GDP) declined by 0.1% on a quarterly basis against market …

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  • 1 September 2021 10:00 pm

    New COVID-19 Variant Spurs Concerns

    The World Health Organization (WHO) has warned that a new strain of the coronavirus has been detected in many countries across the world. Named Mu, the first case infected with the new variant was discovered in Colombia last January but has now been identified in 39 countries. It has become …

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  • 1 September 2021 8:40 pm

    Amazon to Employ 55K More People Around the Globe

    Amazon

    Amazon will offer 55,000 jobs around the world, in corporate and technology, over the coming months, CEO Andy Jassy reportedly told Reuters. Speaking to the press for the first time since he assumed the position in July, following the resignation of former CEO and Founder Jeff Bezos, Jassy said that …

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  • 1 September 2021 8:04 pm

    U.S. Construction Spending Rises in July

    Construction spending in the United States increased in July, according to data by the U.S. Commerce Department on Wednesday. The construction spending rose by 0.3% compared with its level in June but surged by 9% on a yearly basis. The reading modestly exceeded market expectations.

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  • 1 September 2021 7:35 pm

    USD Trading Negatively in Early Trades

    The U.S. Dollar (USD) is trading lower against major currencies on Wednesday, after the release of economic data that showed mixed conditions in the manufacturing sector and the jobs market. The Dollar Index (DXY) is up 0.23% at 92.42 in early trades after turning to the negative territory before the …

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  • 1 September 2021 7:13 pm

    OPEC Agrees to Plan on Gradual Output Hikes

    OPEC

    As is widely expected, OPEC stuck to the plan to raise production by 400 barrels in October. The meeting is still going on to be updated…

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  • 1 September 2021 6:50 pm

    EIA: U.S. Oil Inventories Down 7.2 Barrels in a Week

    Crude oil inventories in the United States decreased by 7.2 million barrels in the week ending August 27, according to official figures released on Wednesday by the U.S. Energy Information Administration (EIA). Commenting on the data, “business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented …

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  • 1 September 2021 6:43 pm

    ISM Manufacturing PMI Improves to 59.9 in August

    The U.S. manufacturing sector saw an improving level of business activity last month, according to data released today. The manufacturing purchasing managers’ index (PMI) posted 59.9 in August, rising by 0.5% compared to 59.5 in july. Further details of the publication revealed that the Employment Index declined to 49 from 52.9 …

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