PayPal will soon allow its customers in the United Kingdom to hold, buy, and sell Bitcoin and other cryptocurrencies. Customers will be able to choose between Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal warned its customer base that crypto assets are considered volatile because of how much and how quickly …
Read More »Tokyo Inflation Defies the Heat: Government Subsidies Cushion Iran War Energy Shock
Key Takeaways Headline CPI ticks up: Tokyo headline inflation rose to 1.5% in April from 1.4% in Mar…
Gold Stuck Near One-Month Low: Iran War Inflation Fears and Hawkish Central Banks Crush Bullion
Key Takeaways Prices slip: Spot gold fell 0.5% to $4,600.06/oz, while gold futures dropped 0.4% to $…
Yen Wobbles After Tokyo’s Intervention Strike: Dollar Steadies as Iran War Reshapes Currency Battleground
Key Takeaways Yen reverses gains: USD/JPY rose 0.4% on Friday after plunging more than 2% in the pri…
Apple Smashes Records as iPhone 17 Frenzy Continues, but Cook Exit Casts Shadow Over $100B Buyback Boost
Key Takeaways Record-breaking quarter: Apple posted all-time records for total revenue and EPS, with…
Oil Holds Near 2022 Peaks: Iran Defiance and Trump’s Military Options Keep Crude on Edge
Key Takeaways Prices stay elevated: Brent crude futures for July rose 0.4% to $110.87/barrel; WTI fo…
BoJ Intervention: Identifying the Impact of Japan’s Unexpected Defense
Japan stunned global currency markets after authorities stepped into the foreign exchange market for…
Dollar Slides as Japan Steps In and Global Markets Reprice Risk
The US dollar came under heavy pressure on Thursday in a dramatic trading session shaped by weaker-t…
Eric Trump’s $1 Million Bitcoin Claim Fuels Fresh Crypto Debate
Bitcoin is currently trading around the mid-$76,000 area, posting a modest daily gain of roughly 0.8…
Cost Cuts Hold Volkswagen Afloat as China Slump Deepens
Volkswagen managed to steady its financial performance in the first quarter, leaning heavily on aggr…
A Sound Decision: Powell Stays to Shield the Fed at a Critical Juncture
In a highly complex economic and political environment, Jerome Powell has chosen to remain on the Bo…
Market Analysis
August, 2021
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24 August 2021 11:26 pm
Gold Scores Largest Rise in a Row
Gold prices continued to rise on Tuesday, maintaining an upward trend for the third consecutive session, The yellow metal front-month futures added $2.40, or 0.13%, to finish $1,805.60 per ounce. This marked the biggest gain for gold futures since August 17 and the highest settlement value since August 4. Gold …
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24 August 2021 10:18 pm
European Stocks Close Little Changed Ahead of IFO Data
European stocks stalled on Tuesday, closing marginally lower, after rebounding for two consecutive sessions. Markets are anticipating tomorrow’s release of the IFO data in Germany, which includes important indicators for the business climate in the continent’s largest economy. The STOXX Europe 600 index slipped by 0.09 points or 0.02% to …
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24 August 2021 9:03 pm
Richmond Fed Manufacturing Index Plunges
The Federal Reserve Bank of Richmond Survey of Manufacturing Activity’s composite index declined to a reading of 9 in August from 27 in July, data showed on Tuesday. The reading indicates a slowdown in manufacturing activity to its lowest level since June 2020. The shipments index also decreased to 6 …
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24 August 2021 7:43 pm
U.S. New Home Sales Rise in July
New home sales in the United States increased last month, as the housing market continues to show signs of strength, data showed on Tuesday. The sales of new single-family homes increased by 6.6% to a seasonally adjusted annual rate of 708,000 units in July, according to the U.S. Department of …
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24 August 2021 5:25 pm
Philly Fed Nonmanufacturing Index Drops to 39.1 in August
The Federal Reserve Bank of Philadelphia’s business activity index declined to 39.1 in August from 53.8 in July. Further details of the publication showed that the Firm-level Business Activity Index declined to 37.2 from 44.8 and the Full-time Employment Index declined to 8.2 from 24.8.
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24 August 2021 4:32 pm
UK Home Sales Fell More Than 60% in July
Home sales in Britain during the month of July decreased by about 63%, after reducing a tax exemption aimed at encouraging home purchases during the Coronavirus crisis. The British Tax Office said Tuesday, August 24, that the number of homes sold in July, after adjusting for seasonal factors, was 73,740, …
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24 August 2021 3:25 pm
The Pound Maintains Its Gains Against The Dollar Despite Selling Pressures
The British pound maintained its gains against the US dollar and the euro, although it fell slightly in early trading on Tuesday. It maintained its gains that exceeded 1% during Monday’s trading, in conjunction with the recovery of risk appetite in global markets and the recovery witnessed in stock markets …
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24 August 2021 2:35 pm
Gold Falls, Hovers Above $1,800 on Virus Fears
Gold prices fell on Tuesday, August 24th but hovered above the psychologically important $1800 level, as the growing threat from increased delta cases fueled expectations that the Federal Reserve may delay easing its accommodative stance. Spot gold fell 0.1% to $1,803.53 an ounce, after jumping about 1.4% on Monday. And …
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24 August 2021 1:58 pm
European Stocks Continue to Recover
European shares continued to recover on Tuesday, August 24, after a full US approval of a vaccine to prevent Covid-19 boosted Wall Street to record highs, while the latest data showed a stronger-than-expected economic recovery in Germany. The STOXX 600 index of European shares rose 0.3% by 07:11 GMT, after …
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24 August 2021 1:13 pm
Oil Rises as Demand Hopes Grow After Full US Approval For a Covid-19 Vaccine
Oil prices rose on Tuesday, August 24 after the US Food and Drug Administration granted full approval for the use of the Pfizer-BioNTech vaccine against Covid-19, raising investors’ hopes of higher fuel demand due to a possible increase in US vaccination rates. Brent crude futures rose 46 cents, or 0.7%, …
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24 August 2021 12:28 pm
Stronger-Than-Expected Recovery For Germany’s Economy in The Second Quarter Thanks to Consumers And Government Spending
The German Federal Statistics Office said in a revision of an earlier estimate that private consumption and government spending led to a stronger-than-expected economic recovery in Germany in the second quarter, following the easing of anti-Covid-19 restrictions. The bureau added that gross domestic product grew 1.6% in the April-June quarter, …
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24 August 2021 4:06 am
Wall Street Rebounds with Nasdaq Hitting New Record High
The main indices of the New York Stock Exchange (NYSE) finished higher on Monday, with the Nasdaq hitting a new all-time closing high and the S&P 500 nearing its record high. Meanwhile, Wall Street investors seemed more optimistic about efforts to combat the coronavirus pandemic, after the Food and Drug …
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