Canada’s hot wave of inflation and the recovering labour market are accelerating pressure on the Bank of Canada to hike interest rates ahead of schedule. Investors are eyeing a fiscal policy announcement this week for clues that the central bank is turning more hawkish. Led by Governor Tiff Macklem, the …
Read More »Pound Hits 3-Month Low as Starmer Resignation Triggers Political Vacuum: Dollar Holds Near Multi-Month Highs on Fed Pressure
Key Takeaways Sterling at 3-month low: The pound languished near its lowest level since late March a…
Keir Starmer Resigns as UK Prime Minister After Andy Burnham’s By-Election Victory Triggers Labour Rebellion
Key Takeaways Starmer steps down: The UK prime minister announced Monday he will resign as Labour le…
Canada CPI Hits 29-Month High of 3.2% as Iran War Gasoline Prices Surge 33%: Iran Peace Deal Offers June Relief
Key Takeaways Inflation surges: Canada’s annual CPI accelerated to 3.2% in May — a 29-month hi…
Wall Street Futures Steady After Initial Iran Scare: AI Rally and PCE Data Keep Bulls Focused Amid Peace Deal Uncertainty
Key Takeaways Futures recover: S&P 500 futures fell 0.14% to 7,560.25 after initially tumbling a…
Bitcoin Treads Water Near $64K as Iran Mixed Signals and AI Rotation Extend Six-Week ETF Outflow Streak
Key Takeaways Bitcoin barely moves: The world’s largest crypto fell 0.2% to $64,224.6, failing…
Gold Climbs 1.1% as Iran Talks Progress Eases Energy Inflation Fears: Dollar Near 13-Month High Caps the Rally
Key Takeaways Gold bounces: Spot gold rose 1.1% to $4,205.05 per ounce, while gold futures climbed 1…
Oil Retreats as Iran Claims “Major Progress” in Switzerland: Trump’s Military Threats and Hormuz Closure Fears Keep Markets on Edge
Key Takeaways Oil turns lower: Brent fell 2.1% to $78.92 per barrel, while WTI edged down 0.4% to $7…
European Stocks Edge Higher as Starmer Resignation Looms and Iran Peace Talks Descend Into Confusion
Key Takeaways Cautious open: The Stoxx 600 edged 0.1% higher; DAX was largely flat; CAC 40 gained 0.…
U.S.-Iran Nuclear Talks Collapse as Vance Pulls Out of Geneva Summit
Iran Flags “Major Progress” in Switzerland Talks: Trump Threatens “You Won’t…
Weekly Summary: Middle East Peace and Fed Dominates Market
It was a week full of significant events that influenced the movement of asset prices in global fina…
Market Analysis
October, 2021
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25 October 2021 9:17 pm
Bitcoin Update: Crypto fund inflows hit record
Coinciding with Bitcoin’s surge to an all time high of $66,974, investors pumped a record $1.47 billion of new money into digital asset investment products, pushed by bloom of cryptocurrencies and the launch of the first bitcoin futures exchange-traded fund, according to report issued Monday by CoinShares.Bitcoin-focused funds dominated last …
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25 October 2021 8:58 pm
Natural gas futures reenergized by weekend cold shift
A major colder shift from normal weather over the weekend pushed natural gas futures in early trading Monday. The November delivery Nymex contract was up 35.7 cents to $5.637/MMBtu.Investors observed colder changes to the temperature for the eastern half of the America both for the current week and next week, …
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25 October 2021 8:06 pm
BoE’s Tenreyro: More time needed to think about rate hike
Bank of England interest rate-setter Silvana Tenreyro said she needs more time to judge how the end of the government’s job-saving plan impacts the labour market, adding to signs that she sees no urgency to raise rates.Uncertainty over the effects of the unpaid leave plan should be resolved over the …
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25 October 2021 7:58 pm
GCC’s fiscal scene improves with current oil prices
Resurgent oil prices are causing a noticeable improvement in Gulf Cooperation Council fiscal and external balances in 2021, in addition to reform momentum that has taken hold to varying degrees since 2014 in response to oil price volatility, Fitch Ratings says.Fitch’s scenario analysis estimates that GCC budgets, except in Bahrain, …
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25 October 2021 7:36 pm
Germans astonished by seized Bitcoin auctioned at a discount
Prosecutors in Germany are required, pursuant to the law, to put seized items such as bitcoin up for auction. An online auction of seized bitcoin that was initially priced at a discount aroused astonishment in Germany. The minimum bid was set at 42,400 Euros, below bitcoin’s recent price above $63,000. …
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25 October 2021 7:09 pm
Nigerian president launches eNaira cryptocurrency
On Monday, Nigerian President Muhammadu Buhari officially introduced the country’s central bank digital currency; the eNaira.The Central Bank of Nigeria published a document in which it reaffirmed its intention to introduce the eNaira after previously attempting but failing to do so on 1 OctoberAccording to the design paper for the …
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25 October 2021 6:55 pm
US Major Indexes Give Back Modest Gains
US major equity indexes opened the new trading week on a calm note near last week’s closing levels. The S&P 500 index was up 10 points to 4,542, almost unchanged on the day after giving up modest gains recorded after the opening bell on Monday. The Dow Jones Industrial Average …
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25 October 2021 5:39 pm
US: Chicago Fed National Activity Index Falls to -0.13 in September
The data published by the Federal Reserve Bank of Chicago showed on Monday that the National Activity Index (CFNAI) fell to -0.13 in September from +0.29 (revised to +0.05) in August. This reading implies a slower growth pace in September than in August. The US dollar is still rallying after …
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25 October 2021 3:57 pm
Dollar Falls with focus on Rates Hike Prospects Elsewhere
The dollar fell on Monday, heading towards its lowest level in a month, as traders continued to focus on the prospects of rising interest rates and tightening monetary policy outside the United States. Currency markets were generally calm at the start of the week as traders awaited US growth data …
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25 October 2021 3:00 pm
US Bond Yields Rise at The Start of The Week
US Treasury yields rose on Monday morning, with the 10-year bond rate exceeding the 1.66% mark, the benchmark 10-year Treasury yield rising one basis point to 1.6661%, and the 30-year Treasury yield adding one basis point at 2.1084 %, returns move inversely with prices and one basis point equals 0.01%.
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25 October 2021 2:17 pm
Gold Hovers Near $1800 an Ounce
Gold prices approached levels of $1800 an ounce Monday, October 25th, which is considered an important level for investors, influenced by the dollar’s decline, and investors were preoccupied with assessing the possible response of the US Federal Reserve to inflationary pressures after its Chairman said that inflation may continue for …
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25 October 2021 1:51 pm
European Stocks Rise, Supported by Commodity Prices
European shares rose on Monday, led by mining and energy stocks as commodity prices rose, while investors awaited a series of business results, as several giant companies are scheduled to announce their results this week. The pan-European Stoxx 600 index rose 0.02% by 0707 GMT after Asian indices rallied slightly. …
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