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Market Analysis

August, 2021

  • 24 August 2021 12:28 pm

    Stronger-Than-Expected Recovery For Germany’s Economy in The Second Quarter Thanks to Consumers And Government Spending

    The German Federal Statistics Office said in a revision of an earlier estimate that private consumption and government spending led to a stronger-than-expected economic recovery in Germany in the second quarter, following the easing of anti-Covid-19 restrictions. The bureau added that gross domestic product grew 1.6% in the April-June quarter, …

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  • 24 August 2021 4:06 am

    Wall Street Rebounds with Nasdaq Hitting New Record High

    The main indices of the New York Stock Exchange (NYSE) finished higher on Monday, with the Nasdaq hitting a new all-time closing high and the S&P 500 nearing its record high. Meanwhile, Wall Street investors seemed more optimistic about efforts to combat the coronavirus pandemic, after the Food and Drug …

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  • 24 August 2021 3:41 am

    GBP/USD Rebounds to Snap Two-Day Losing Streak

    The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) recovering some of its recent losses last week. The GBP/USD pair gained 0.70% to reach 1.3722, in its biggest rise in a single session since July 9. The Sterling was able to snap a two-session losing streak, but …

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  • 24 August 2021 2:55 am

    Oil Scores Highest Gains Since Late March

    Oil prices closed higher on Monday with their best performance in five months, recovering most of their losses last week, despite lingering concerns over the spread of the Coronavirus Delta variant. Today’s rebound, the highest since March 24, snaps a seven-session declining streak for oil futures, which brought them to …

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  • 24 August 2021 1:06 am

    Gold Extends Gains as Dollar Retreats to Restore $1,800 Level

    Gold prices rose for the second straight session on Monday, building on the U.S. Dollar’s (USD) decline across the board against major currencies amid selling pressures following its surge to a nine-month high by the end of last week. Gold’s front-month futures added $22.20, or 1.25%, to finish at $1803.2 …

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  • 24 August 2021 12:52 am

    European Stocks Close Higher for Second Day

    European stocks continued to rebound for the second consecutive session on Monday, starting the week with a positive performance to recoup some of its recent losses. The STOXX Europe 600 index rose by 3.08 points or 0.66% to finish at 471.88 points. Today marked the biggest daily gain for the …

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  • 23 August 2021 9:35 pm

    Euro Trading Higher Despite Consumer Confidence Decline

    Eurozone

    The Euro (EUR) is trading higher on Monday, opening the week with a positive performance amid a decline by the U.S. (USD) that is seeing increased selling pressures for profit-making after surging to a nine-month high last week. The European currency’s rise comes despite a recent slump in Eurozone consumer …

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  • 23 August 2021 7:42 pm

    U.S. Existing Home Sales Up for Second Month in July

    Home sales in the United States continued to rise for the second consecutive month against market expectations, data by the National Association of Realtors showed on Monday. U.S. existing home sales rose by 2% to a seasonally adjusted annual rate of 5.99 million units in July from 5.87 million units …

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  • 23 August 2021 5:44 pm

    Bitcoin Breaks 50k Barrier, Cardano Making Its Way up Fast

    For the first time since the beginning of last May, Bitcoin, the largest cryptocurrency by value, succeeded in surpassing the $50,000 levels, which served as an important psychological resistance point for the bulls. According to analysts, testing the levels of $50,000 establishes new support levels above the $48,000 in an …

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  • 23 August 2021 5:29 pm

    The US Dollar Declining After Recording The Largest Weekly Rise

    The US dollar fell against its rivals on Monday in a bout of profit-taking after posting its largest weekly rise in more than two months last week, supported by concerns about the global growth outlook, and the main source of investor concerns is the global importance of the Coronavirus delta …

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  • 23 August 2021 4:47 pm

    US: Chicago Fed National Activity

    The data published by the Federal Reserve Bank of Chicago showed on Monday that the National Activity Index (CFNAI) improved to 0.53 in July from -0.01 in June.

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  • 23 August 2021 4:27 pm

    German Economic Growth Undershoot Projection This Year

    Germany’s economic growth may fall short of expectations this year, the Bundesbank said in a monthly report on Monday, and that the resurgence of the coronavirus could impose unexpected pressure on the economy in the fall. Europe’s largest economy is expected to grow by about 3.7% this year and 5.2% …

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  • 23 August 2021 3:23 pm

    Oil Rises 3% After a Week of Losses Thanks to The Decline in USD

    Oil prices jumped more than 3% Monday, August 23, after a seven-day losing streak driven by a weaker dollar, despite demand concerns fueled by an increase in cases of the mutated delta strain of the coronavirus. Brent crude rose $2.17, or 3.2%, to $67.35 a barrel by 09:01 GMT, after …

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