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Market Analysis

August, 2021

  • 25 August 2021 3:54 pm

    Gold Falls Due to The Rise of The Dollar And The Appetite For Risk

    Gold prices fell on Wednesday, August 25, pressured by the dollar’s rise and risk appetite, while investors awaited a speech by Federal Reserve Chairman Jerome Powell this week for indications on the US Federal Reserve’s plans to reduce stimulus. And gold fell in spot transactions by about 0.5% to $ …

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  • 25 August 2021 3:06 pm

    European Shares Rise Ahead of Data

    European stocks rose Wednesday, August 25th, and travel stocks rose for the fourth day in a row, while markets globally moved within a narrow range ahead of a policy update from the US Federal Reserve at the end of the week. The STOXX 600 index of European shares rose 0.1% …

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  • 25 August 2021 1:53 pm

    German Business Confidence Drops Due to Increase in COVID-19 Cases

    German business confidence declined in August for the second month in a row, according to a survey published on Wednesday, August 25, as business expectations became more pessimistic about the coming months in Europe’s largest economy due to an increase in COVID-19 infections and supply bottlenecks. The Ifo institute said …

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  • 25 August 2021 1:13 pm

    Dollar Near a Week Low as Delta Worries Ease Ahead of Jackson Hole

    The dollar hit its lowest level in nearly a week on Wednesday, August 25th against major counterparts, as concerns eased that the highly contagious delta strain of the Coronavirus may derail the global economic recovery. Risk appetite has improved in global markets since the US Food and Drug Administration granted …

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  • 25 August 2021 12:30 pm

    Oil Falls After Two Days of Gains Due to Lack of Supplies

    Oil prices rebounded on Wednesday, August 25, to catch a breath after a strong rally this week due to the loss of a quarter of Mexico’s production and evidence that China, the world’s largest importer of crude, has contained the latest outbreak of the Coronavirus. Brent crude futures fell 25 …

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  • 25 August 2021 4:55 am

    Wall Street: S&P 500 and Nasdaq Set New Record Highs

    The New York Stock Exchange (NYSE) continued with a positive performance on Tuesday, with the S&P 500 and Nasdaq indices hitting new record highs. Wall Street is anticipating the upcoming speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole event. The Federal Reserve’s most recent meeting minutes showed …

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  • 25 August 2021 4:02 am

    U.S. Oil Inventories Down 1.6 M Barrels in Week

    Crude oil inventories in the United States declined by 1.6 million barrels last week, according to estimates by the American Petroleum Institute (API). Gasoline stockpiles decreased by 985,000 barrels, and distillate inventories fell by 245,000 barrels. The official weekly report by the Energy Information Administration (EIA) is due on Wednesday.

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  • 25 August 2021 3:05 am

    EUR/USD Settles Near Weekly High

    Eurozone

    The Euro (EUR) rose against the U.S. Dollar (USD) for the third consecutive day, keeping the rising trend this week, rebounding from multi-month lows. The EUR/USD pair increased by 0.11% to settle at 1.1759. The pair will now target levels between 1.1775 and then 1.1800. Today saw the biggest daily …

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  • 25 August 2021 2:14 am

    Oil Finishes Higher for Second Day

    Oil prices rose on Tuesday for the second consecutive session, recovering some of its recent losses, amid output disruptions in North America. Brent crude futures for October delivery closed higher by $2.30, or 3.35%, at $71.05 per barrel, to close at its highest level since August 12. Meanwhile, the West …

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  • 25 August 2021 1:58 am

    PayPal to Introduce Crypto Services in UK

    PayPal will soon allow its customers in the United Kingdom to hold, buy, and sell Bitcoin and other cryptocurrencies. Customers will be able to choose between Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal warned its customer base that crypto assets are considered volatile because of how much and how quickly …

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  • 24 August 2021 11:26 pm

    Gold Scores Largest Rise in a Row

    Gold prices continued to rise on Tuesday, maintaining an upward trend for the third consecutive session, The yellow metal front-month futures added $2.40, or 0.13%, to finish $1,805.60 per ounce. This marked the biggest gain for gold futures since August 17 and the highest settlement value since August 4. Gold …

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  • 24 August 2021 10:18 pm

    European Stocks Close Little Changed Ahead of IFO Data

    European stocks stalled on Tuesday, closing marginally lower, after rebounding for two consecutive sessions. Markets are anticipating tomorrow’s release of the IFO data in Germany, which includes important indicators for the business climate in the continent’s largest economy. The STOXX Europe 600 index slipped by 0.09 points or 0.02% to …

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  • 24 August 2021 9:03 pm

    Richmond Fed Manufacturing Index Plunges

    The Federal Reserve Bank of Richmond Survey of Manufacturing Activity’s composite index declined to a reading of 9 in August from 27 in July, data showed on Tuesday. The reading indicates a slowdown in manufacturing activity to its lowest level since June 2020. The shipments index also decreased to 6 …

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