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Market Analysis

June, 2021

  • 17 June 2021 1:32 pm

    Eurozone Final CPI Revised Down to 0.3% MoM in May

    According to Eurostat’s final reading of the Eurozone CPI report for May, the consumer prices came in at 2.0% on a yearly basis, meeting the flash estimate of 2.0% and 2.0% expectations. While the core figures rose to 1.0%, beating the 0.9% consensus forecasts.

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  • 17 June 2021 1:04 pm

    Switzerland: GDP Growing Sharply in The Short Term

    The Swiss National Bank (SNB) gave an optimistic view of the economy in its Financial Stability Report (FSR) published on Thursday. The report indicated that in Switzerland, GDP is growing strongly in the near term and unemployment is declining.” The production capacity has also been untapped for some time.

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  • 17 June 2021 12:05 pm

    Oil Prices Fall Due to The Rise of The US Dollar

    Crude oil prices fell on Thursday as the US dollar rose after the Federal Reserve hinted that it may raise interest rates faster than expected, but losses were limited thanks to a significant drop in US crude inventories. Brent crude futures fell 42 cents, or 0.6%, to $73.97 a barrel, …

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  • 17 June 2021 11:44 am

    Japanese Shares Close Lower Due to The Fed’s Tendency to Tighten Policy

    Japan

    Japanese shares closed lower on Thursday, June 17, as investors sold shares of technology companies and the drugmaker after a weak close on Wall Street after the US Federal Reserve signaled earlier-than-expected interest rate increases, while the financial sector shone with a rise in US Treasury yields. The Nikkei index …

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  • 17 June 2021 11:07 am

    Britain Records The Highest Daily Death From Corona Cases Since February

    Britain recorded the highest daily number of new cases of Coronavirus since February, which increases indications of the spread of a new, highly contagious mutation first discovered in India. The government recorded 9,055 cases of infection, which is the largest number since February 25, and more than a fifth of …

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  • 17 June 2021 10:35 am

    Gold Rises After Heavy Sales Due to The Tendency of The Fed to Tighten Monetary

    Gold prices rose on Thursday, recovering some of the losses incurred in the previous session after the US Federal Reserve hinted that it may raise interest rates earlier than expected. And gold rose in spot transactions 0.5% to $ 1820.34 an ounce (an ounce). US gold futures fell 2.1% to …

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  • 17 June 2021 5:23 am

    SEC Delays Decision on Bitcoin ETF

    The U.S. Securities and Exchange Commission (SEC) has delayed for the second time its decision on the first Bitcoin exchange-traded fund (ETF). VanEck, an ETF and mutual fund manager, proposed an ETF for the world’s largest cryptocurrency and an SEC approval was delayed in April. The SEC reportedly wants to …

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  • 17 June 2021 3:22 am

    Fed on Road for Taper Talk and Expects Two Interest Rate Hikes in 2023

    The two-day Federal Reserve policy meeting concluded on Wednesday with most outcomes falling in line with expectations, as the Federal Open Market Committee (FOMC) decided to keep the current interest rate range near 0% and the pace of asset purchases at $120 billion a month. The central bank reiterated its …

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  • 17 June 2021 1:40 am

    EUR/USD Logs Biggest Daily Loss in 15 Months

    The Euro (EUR) declined against the U.S. Dollar (USD) on Wednesday, following the U.S. Federal Reserve’s policy meeting, in which the central bank decided to maintain its current policy, expecting rising inflation and seeing two rate hikes in 2023. Today, the EUR/USD pair lost about 1.08%, falling below 1.2 and …

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  • 17 June 2021 1:15 am

    GBP/USD Declines Following Fed’s Decision

    The British Pound (GBP) declined on Wednesday against the U.S. Dollar (USD) for the second consecutive day, after the Federal Reserve decided to maintain its current policy and expected two rate hikes in 2023. The GBP/USD pair lost about 0.7% to reach the level of 1.3987. This market the largest …

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  • 17 June 2021 12:29 am

    NYSE Closes Lower Following Fed’s Statement

    The New York Stock Exchange (NYSE) closed lower on Wednesday after the Federal Reserve pointed to its expectation that interest rates will be raised earlier than previously expected with two rate hikes in 2023. The Dow Jones Industrial Average fell by about 266 points, or 0.77%, to close at 34,033.7 …

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  • 16 June 2021 11:33 pm

    Oil Maintains Rising Trend Following U.S. Inventory Data

    Oil prices maintained their upwards trend on Wednesday, following the release of the weekly inventory report in the United States. Brent crude futures for August delivery increased by 40 cents, or 0.5%, to finish at $74.39 per barrel. The West Texas Intermediate (WTI) crude futures for July delivery added 3 …

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  • 16 June 2021 10:29 pm

    Gold Closes Higher After Three Daily Losses

    Gold prices rose on Wednesday for the first time in four sessions, recovering some of its recent losses with the U.S. Federal Reserve’s expected decision to maintain its current policy. The Fed raised its inflation forecasts for 2021 and 2022, demand for the yellow metal increased with investors seeking hedging …

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