The second week of July was highlighted by the release of inflation data in many parts around the world led by the U.K., the U.S., and the European Union. The U.S. Consumer Price Index (CPI) jumped 5.4% in June, following a 5% increase in May, with core CPI also rising …
Read More »Major Central Banks Brace for War-Driven Inflation Shock
Major developed market central banks kept interest rates steady this week, but their tone shifted sh…
Gold Extends Sharp Sell-Off, Slides Toward $4,600 as Market Momentum Turns Bearish
Gold prices remained under heavy pressure, extending their sharp decline as the metal hovered near $…
Stocks Slide Despite Late Rebound Amid Rate Fears, Strong Data, as Geopolitical Tensions Weigh on Sentiment
U.S. stocks attempted a late-session recovery on Thursday, climbing well off their worst levels of t…
Oil Retreats from $100 Peak as Sanctions Ease but Geopolitical Risks Loom
Oil prices slipped back after briefly crossing the symbolic $100 mark, as markets weighed improved s…
Terafab Gamble: Why Tesla May Be Headed for Its First Capital Raise in Years
Tesla is stepping into one of the most ambitious chapters in its history, but the price tag attached…
Pound Gains Lose Momentum Despite Hawkish BoE
The British Pound showed only limited strength against the US Dollar, even after the Bank of England…
Lagarde Holds the Line as ECB Keeps Rates Steady Amid Global Uncertainty
European Central Bank President Christine Lagarde reaffirmed the institution’s cautious stance on Th…
U.S. Futures Slip as Oil Surge and Middle East Escalation Rattle Markets
U.S. stock futures edged lower on Thursday, as a sharp spike in oil prices and escalating geopolitic…
Oil Surges on Middle East Escalation as Supply Fears Intensify
Oil prices jumped sharply on Thursday, with West Texas Intermediate (WTI) briefly crossing the $100 …
UK Labour Market Stabilises as Energy Risks Cloud Outlook
The UK labour market showed signs of stabilization in February, with steady unemployment and stronge…
Market Analysis
July, 2021
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17 July 2021 2:19 am
NYSE Snaps Three-Week Rising Streak
The New York Stock Exchange (NYSE) closed lower on Friday, erasing earlier gains after data showed increased fears over inflation reflecting negatively on consumer confidence. All the major indices finished the week in losses, ending a three-week rising streak that saw multiple record-breaking levels. The Dow Jones Industrial Average lost …
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17 July 2021 1:10 am
Oil Edges Higher Recording Large Weekly Decline amid Uncertainty
Oil prices saw a modest increase on Friday but to failed to recovery its large weekly losses, the biggest in about two months, which are mostly due to uncertainty about a new production policy agreement by the OPEC+ alliance, despite recent reports suggesting extending the current deal until the end …
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16 July 2021 11:45 pm
Gold Closes Lower to Narrow Weekly Rise
Gold prices decreased on Friday, limiting its fourth consecutive weekly rise, amid fluctuations by the U.S. (USD) that seem to be struggling for direction after the recent remarks by the Federal Reserve Chair Jerome Powell relatively eased concerns about the recent surges in inflation. Gold futures front-month contracts for July …
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16 July 2021 10:42 pm
U.S. Rigs Increase for Third Straight Week
The number of active oil and natural gas rigs in the United States increased for the third consecutive week, for the first time since May, despite the recent drop in crude prices, data by Baker Hughes showed on Friday. The total rig count rose by five to 484 in the …
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16 July 2021 9:36 pm
European Stocks Finish the Week in Losses
Europe’s stocks closed lower on Friday, nearly doubling their weekly losses amid concerns about the resurgence of the coronavirus pandemic with the spread of the Delta Variant. STOXX Europe 600 lost 1.46 points or 0.32% to close at 454.74, registering its third consecutive daily decline, down for the week by …
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16 July 2021 8:45 pm
U.S. Business Inventories Rise in May
Business inventories in the United States increased by 0.5% in May, according to official data. The increase came above the expected 0.1%, with businesses aiming to cope with the rising demand as the economy reopens and shows more signs of recovery from the coronavirus pandemic (COVID-19). Moreover, the ratio of …
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16 July 2021 7:45 pm
Canada’s Wholesale Sales Rise in May to New Record
Wholesale sales in Canada increased in May for the third consecutive month, setting a new record, according to data by Statistics Canada. The wholesale sales rose 0.5% in May to reach $72.2 billion, supported by the growing sales of food and machinery. Food sales leveled up 3.3% to $11.4 billion, …
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16 July 2021 5:44 pm
The US Dollar Approaching Monthly Peaks Supported by Powell’s Comments
The dollar, when tracked by the US dollar index DXY, expands optimism in the second half of the week and approaches monthly tops around 92.80, and the index advances for the second consecutive session and trades near the monthly peak located in the 92.80 / 85 range, always on the …
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16 July 2021 4:43 pm
US: Retail Sales Increase by 0.6% in June
Retail Sales in the US rose by 0.6% to $621.3 billion in June following May’s contraction of 1.7% (revised from -1.3%), the data published by the US Census Bureau revealed on Friday. This reading came in better than the market expectation for a decline of 0.4%.
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16 July 2021 3:48 pm
More Than 100 Deaths and Thousands of Homes Cut off in Floods in Germany
The number of people killed in floods in western Germany jumped to 103, from 93, bringing the total number of flood victims in western Europe to at least 117, the authorities said on Friday, while Germany’s largest electricity distribution company (SE:5110) said that 114 were out of power. A house …
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16 July 2021 3:07 pm
Oil Rising But Heading For The Largest Weekly loss in Months
Oil prices rose on Friday but were still heading for their biggest weekly decline since at least May, as expectations of increased supplies spooked investors. Brent crude rose 37 cents, or 0.5%, to $73.84 a barrel, and is set to lose 2.3% this week, the biggest weekly decline since May. …
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16 July 2021 2:46 pm
Eurozone Inflation Easing Confirmed
Official data on Friday confirmed a slowdown in eurozone inflation in June after a steady acceleration in the first months of 2021, while the bloc’s trade surplus narrowed in May due to a decline in exports. The European Union statistics office Eurostat said consumer prices in the 19-nation currency bloc …
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