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Market Analysis

July, 2021

  • 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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  • 22 July 2021 6:28 pm

    UK Johnson’s spokesman: No Solutions Can Be Found Within The Northern Ireland Protocol

    Earlier today, a spokesperson for British Prime Minister Boris Johnson said that Johnson had urged the European Union to seriously consider proposals related to the Northern Ireland Protocol during his discussion with EU Commission chief von der Leyen. “Our position remains that we are looking forward to significant changes in …

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  • 22 July 2021 6:03 pm

    US Stocks Opened Mixed, Crude Oil Prices Rise

    The US major stock indices opened mixed, close to Wednesday’s closing levels. Looking at the major indices, the S&P 500 is down 0.1% today, almost unchanged at 4,354, the Dow Jones Industrial Average is down slightly by 0.33% at 34,683, and the Nasdaq Composite opened slightly higher by 0.25% at …

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  • 22 July 2021 5:42 pm

    ECB Announces New Monetary Policy Targets

    The European Central Bank’s meeting today, Thursday, July 22, was quiet but announced new monetary policy targets that suggest extending support for a longer time to the eurozone economy while boosting inflation, which has been low for nearly a decade from its 2% target. The bank said it expects interest …

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  • 22 July 2021 4:57 pm

    US Jobless Claims Surge, Dollar Trading Flat

    Data released by the US Labor Department on Thursday showed that there were 419k initial claims for unemployment benefits in the US during the week ending July 17. The previous month’s reading was 368k and market expectations were optimistic at 350k. The advance figure for the seasonally adjusted unemployment rate …

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  • 22 July 2021 3:56 pm

    ECB Leaves Monetary Policy Unchanged

    The European Central Bank decided to keep its monetary policy unchanged as widely expected in today’s meeting. The ECB left the interest rates on the main refinancing operations, the marginal lending facility, and the deposit facility unchanged at 0.00%, 0.25%, and -0.50%. EUR/USD remained close to the 1.1800 handle, unaffected …

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  • 22 July 2021 3:02 pm

    Germany’s Merkel Expresses Concern Over The High Covid-19 Infection Rate

    Merkel

    German Chancellor Angela Merkel has expressed concerns over the alarming rise in coronavirus cases in the country and stressed the importance of vaccinations. Merkel said infection numbers are rising at an alarming rate and that the vaccination protects not just yourself but also people you care about. She also said …

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  • 22 July 2021 1:43 pm

    Oil Prices Fall After US Crude Oil Stocks Rise

    Oil prices fell on Thursday after a sudden increase in US crude inventories and amid growing Covid-19 infections that threaten demand. Still, prices maintained most of the previous session’s gains due to expectations of continued tight supplies until the end of the year. At 06:44 GMT, Brent crude was down …

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  • 22 July 2021 12:58 pm

    European Shares Rise on Earnings Expectations, Monetary Policy

    European stocks extended gains for the third consecutive session Thursday, July 22nd, with market sentiment boosted by signs of a strong earnings season and expectations that the European Central Bank will not deviate from its monetary easing policy. The STOXX Europe 600 Index rose 0.5% by 07:14 GMT. The index …

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  • 22 July 2021 12:23 pm

    Gold Near Its Lowest Level in a Week on Rising Risk Appetite

    Gold prices fell on Thursday, July 22nd, to near the lowest level in more than a week, under pressure from a stronger dollar and rising risk appetite, while investors awaited the European Central Bank’s meeting scheduled for today. By 05:14 GMT, the spot price of gold was down 0.2% to …

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  • 22 July 2021 11:40 am

    China Rejects WHO Plan to Re-investigate Origins of COVID-19

    A senior health official said that China has rejected the World Health Organization’s plan to conduct the second stage of investigation into the origin of the Coronavirus, which includes the hypothesis that it may have leaked from a Chinese laboratory. The World Health Organization this month proposed conducting a second …

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