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Market Analysis

April, 2021

  • 2 April 2021 3:18 pm

    Italy Posted a Deficit of 5.2% of GDP in Q4

    The Italian National Institute of Statistics said that Italy’s budget balance has shifted to recording a deficit of 5.2% of GDP in the Q4 of last year, compared to a surplus of 1.9% in the same period of 2019. The institute stated that over the whole year, the deficit recorded …

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  • 2 April 2021 2:37 pm

    Russian Ruble Rises 0.3% Against US Dollar After OPEC+ Decision

    Russia

    The Russian ruble rose to 76 against the dollar in tepid trading on Friday, recovering from its lowest level in a week reached the previous day, after the OPEC+ group, which includes the world’s major oil producers, agreed to ease production cuts. The ruble rose 0.3% against the dollar to …

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  • 2 April 2021 1:39 pm

    Bloomberg – Russian Oil Production Rises in March

    Russia’s output of crude and condensate rose to 43.34 million tons in March, thanks to the more generous OPEC and its allies (OPEC+) quota, Bloomberg reports, citing preliminary data from the Energy Ministry’s CDU-TEK unit.

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  • 2 April 2021 12:59 pm

    Pfizer&BionTech: Our Vaccine is 91% Effective And Provides Protection Against The South African Strain

    Pfizer and BionTech said their COVID-19 vaccine is 91% effective in preventing the disease, according to new trial data that included participants who were vaccinated up to six months ago. The vaccine was 100% effective in preventing the disease among the participants in the trial in South Africa, where a …

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  • 2 April 2021 12:30 pm

    The Rise in The Turkish Lira After The Central Bank Pledged to Tighten Monetary Policy

    The Turkish lira rose more than 1% against the dollar on Friday, supported by a drop in US bond yields, a day after the new central bank governor pledged that tight monetary policy would remain as it was. The pound rose to 7.9890 against the dollar, from 8.1 at the …

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  • 2 April 2021 11:31 am

    Japan’s Nikkei Hits a Two-Week High on Hopes of a Recovery in Corporate Earnings

    Japan

    Japanese shares closed higher on Friday, while the Nikkei index reached a two-week high, on hopes of recovering corporate earnings and gains in semiconductor stocks as companies appear to be ramping up production to address a global chip shortage. The Nikkei rose 1.58% to close at 29,854 points. The broader …

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  • 2 April 2021 11:00 am

    Russia’s Oil Production Rose in March, Following a drop in February

    Russia’s production of oil and gas condensate rose to 10.25 million barrels per day in March from 10.1 million barrels per day in February, according to Reuters calculations based on a report by the Interfax news agency based on data from the Energy Ministry on Friday. The recovery of Russian …

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  • 2 April 2021 10:36 am

    Oil Prices jump by 3% Despite OPEC+ Decision to Gradually Increase Production

    US Oil (

    Oil prices jumped more than 3% Thursday after OPEC+ reached an agreement to gradually ease production restrictions from May. Brent crude rose $ 1.94, or 3.1 percent, to $ 64.68 a barrel. U.S. crude rose $ 2.10, or 3.6 percent, to $ 61.26 a barrel. OPEC +, which includes the …

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  • 2 April 2021 1:20 am

    OPEC+ Agree on Gradually Easing Output Cuts

    OPEC

    The OPEC+ alliance, consisting of the Organization of the Petroleum Exporting Countries (OPEC) and other major crude oil producers, has decided to ease output curbs by gradually increase production over the course of the upcoming three months. According to media reports, the move comes as the United States has called …

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  • 2 April 2021 1:00 am

    Wall Street Finish Higher on Positive Economic Data

    The New York Stock Exchange (NYSE) closed higher on Thursday, supported by a positive sentiment and economic data that showed a healthy performance by the manufacturing sector. Accordingly, the S&P 500 index closed at a new all-time high, despite a rise in jobless claims in the U.S. The Dow Jones …

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  • 1 April 2021 11:59 pm

    Oil Scores Large Gains Following OPEC+ Decision

    US Oil (

    Oil prices rose on Thursday after the OPEC+ alliance opted not gradually ease output cuts, which means that no sudden disruptions will hit the market. Recently, there have been concerns about the recovery of the global demand for oil, however, with the recent OPEC decision the gradual increase come in …

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  • 1 April 2021 11:00 pm

    Gold Futures Rise but Finish Q1 Down 10%

    Gold prices rose on Thursday for the second consecutive sessions, amid a decline by the U.S. Dollar (USD) after data showed a surge in jobless claims in the United States. The yellow metal futures for June delivery rose by $12.80, or 0.8%, to close at 1,728.40 per ounce. During the …

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  • 1 April 2021 10:00 pm

    U.S. Oil Rigs Rise by 13 in Week

    Active rigs drilling for crude oil in the United States increased by 13 to a total of 337 this week, data by Baker Hughes showed on Thursday. The total number of rigs drilling for both crude oil and natural gas increased by 13 to 430, as the number of natural …

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