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Market Analysis

July, 2021

  • 23 July 2021 12:49 pm

    UK: Preliminary Manufacturing PMI Falls to 64.2 in July

    UK Manufacturing PMI came in below estimates at 60.4 in July.The UK Services PMI fell to 57.8 in July, below expectations. UK IHS Markit/CIPS Manufacturing Purchasing Managers’ Index fell to 60.4 in July vs. 62.5 expected and the final June figure of 63.9. The UK Services Business Activity Index for …

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  • 23 July 2021 12:19 pm

    Gold Prices Heading for Weekly Loss on Greenback Rally

    Gold prices stabilized during trading Friday, July 23, but are heading for the first weekly decline in five weeks, as the rally in the dollar made the metal more expensive for holders of other currencies. The spot price of gold settled at $1807.45 an ounce by 06:34 GMT, recording a …

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  • 23 July 2021 11:41 am

    Barclays Raises Its Oil Price Forecast

    Barclays Bank said on Thursday that supply and demand factors in the oil market predict a slow increase in prices over the next few months and raised its forecast for the price of crude oil in 2021 by between three and five dollars a barrel. “Oil prices could rise to …

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  • 23 July 2021 11:22 am

    UK: Retail Sales Increase by 0.5% in June, GBP/USD Retreats

    UK retail sales rose 0.5% in June versus expectations of 0.4% and -1.3% from the previous month. Core retail sales, which excludes auto fuel sales, came in at 0.3% m/m vs. expected 0.6% and -2.0% from the previous month. Yearly, UK retail sales rose 9.7% in June versus expected 9.6% …

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  • 23 July 2021 2:48 am

    France Rejects British Proposal for BREXIT Renegotiations

    The French government has rejected the recent request by the United Kingdom to renegotiate the post-Brexit arrangement for Northern Ireland. The French Minister of Europe and Foreign Affairs, Clement Beaune, dismissed accusations of European dominance regarding the issue, Reuters reported. “The European Union has dedicated days and nights for the …

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  • 23 July 2021 2:44 am

    Euro Declines Following ECB Vow to Maintain Accommodative Policy

    Eurozone

    The Euro (EUR) declined on Thursday against the U.S. Dollar (USD), after the European Central Bank (ECB) announced new monetary policy targets that suggest extending support for longer to ensure the Eurozone economic recovery while boosting inflation that has been low for nearly a decade. The EUR/USD pair declined by …

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  • 23 July 2021 2:21 am

    Wall Street Closes with Modest Gains

    U.S. stocks finished Thursday with modest gains, maintaining a rising trend for the third consecutive session, as Wall Street investors shook off concerns about recovery after data showed a surge in jobless claims last week. The Dow Jones Industrial Average gained 25.35 points, or 0.07%, to close at 34,823.35 points. …

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  • 23 July 2021 1:44 am

    Oil Prices Rise to Highest Level in a Week

    Oil prices rose on Thursday to their highest level in about a week, maintaining an upwards trend for the third consecutive session. Despite concerns about the resurgence of the coronavirus with the spread of the Delta variant, crude futures seem to be supported by positive expectations for demand recovery during …

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  • 23 July 2021 12:45 am

    Gold Closes Higher as Risk Appetite Fades

    Gold futures for July delivery rose on Thursday, amid a deterioration in the risk appetite among investors after data showed a surge in jobless claims in the U.S., promoting more concerns about the recovery from the pandemic. The yellow metal’s gains also come amid fluctuations by the U.S. Dollar (USD) …

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  • 23 July 2021 12:23 am

    Dollar Limits Gains but Maintains Positive Territory

    The U.S. Dollar (USD) rose on Thursday after data showed an increase in jobless claims in the United States. Last week’s data showed that the labor market is yet to recover and restore its pre-pandemic strength, which reflected negatively on investors’ risk appetite. The Dollar Index (DXY), which measures the …

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  • 22 July 2021 10:45 pm

    China Rejects WHO Investigation Into COVID-19

    The Chinese government has on Thursday rejected the World Health Organization’s (WHO) plan for the second phase of an investigation into the origins of the novel coronavirus (COVID-19) that caused a global pandemic. The plan reportedly includes inspecting the hypothesis that the virus could have escaped from a Chinese laboratory, …

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  • 22 July 2021 8:40 pm

    U.S. Natural Gas Inventories Rise in Week

    Natural gas inventories in the United States increased by 49 billion cubic feet for the week ending July 16, the U.S. Energy Information Administration (EIA) reported on Thursday. Total natural gas stockpiles reached 2.678 trillion cubic feet, down by 532 billion cubic feet compared with the same time last year. …

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  • 22 July 2021 7:11 pm

    US: Existing Home Sales Rise Slightly in June

    After dropping for four consecutive months, US home sales rebounded modestly in June, with prices continuing to rise and inventories low. The National Association of Realtors said Thursday that existing home sales rose 1.4% in June after declining 1.2% in May. It rose 22.9 percent year on year in June. …

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