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Market Analysis

August, 2021

  • 31 August 2021 1:21 pm

    Turkey’s Trade Deficit Rises by 51% in July on an Annual Basis

    Data from the Turkish Statistical Institute showed that the country’s foreign trade deficit rose 51.3% year on year in July to $4.278 billion according to the general trade system. The institute said that after the damage to trade a year ago due to the Corona pandemic, Turkey’s exports rose 10.2% …

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  • 31 August 2021 12:48 pm

    European Shares Are Heading For a Seventh Straight Month of Gains

    European shares rose on Tuesday, August 31, heading towards the seventh consecutive month of gains, as hopes of adopting more policies to support the economy outweighed the economic risks associated with the increase in cases of Covid-19 disease due to the spread of the delta strain around the world. The …

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  • 31 August 2021 5:33 am

    OPEC+ to Maintain Output Policy

    OPEC

    It is expected that the upcoming meeting for the Organization of the Petroleum Exporting Countries (OPEC) and its allies will decide on Wednesday to maintain the current output policy, which entails easing production cuts gradually, amid a global recovery from the pandemic. The OPEC+ previously decided to increase production by …

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  • 31 August 2021 5:28 am

    Wall Street Mixed Logging New Record Highs

    The main indices of the New York Stock Exchange (NYSE) closed mostly higher on Monday, with S&P 500 and the Nasdaq hitting new fresh closing record highs in the first session of the week. Wall Street investors showed an increased appetite for technology stocks. The Dow Jones Industrial Average lost …

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  • 31 August 2021 4:37 am

    Bitcoin Trading a Little Below $47,000

    Most cryptocurrencies are showing a negative performance on Monday, led by Bitcoin. The world’s largest digital currency in terms of market capitalization is trading down for the day by 3.87% at $46,761.30, extending its losses over the past seven days to 5.3%. Meanwhile, Ethereum and XRP are down by 0.7% …

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  • 31 August 2021 4:08 am

    USD Scores Marginal Gains Moving Horizontally

    The U.S. Dollar (USD) was little changed on the first session of the week against major currencies, leveling up for the third consecutive session with a modest rise. The greenback leveled up by about 0.03% against major currencies. Against the Euro (EUR), the USD lost 0.02%, with the EUR/USD pair …

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  • 31 August 2021 1:02 am

    Oil Finishes Higher Ahead of OPEC Meeting

    Oil prices closed higher on Monday, with markets anticipating the results of the upcoming OPEC+ meeting, which will likely result in maintaining the current gradual approach in easing output curbs. Crude prices increased after Hurricane Ida led to the shut down of most refineries in the Gulf Coast. Brent crude …

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  • 31 August 2021 12:25 am

    European Stocks Finish Higher After German Data

    European stocks finished Monday higher, opening the week with a positive performance, maintaining an upward trend for the second day in a row. The STOXX Europe 600 Index rose 0.34 point or 0.07% to 472.68 points. This is the highest closing value for the pan-European index since August 18. In …

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  • 30 August 2021 9:45 pm

    U.S. Pending Home Sales Drop in July

    The United States Pending Home Sales Index declined by 1.8% last month, according to data by the National Association of Realtors on Monday. The reading comes against market expectations of a modest increase, while the June reading was revised upwards to 2%. On an annual level, pending home sales decreased …

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  • 30 August 2021 7:44 pm

    Dallas Fed Manufacturing Business Index Slows

    The growth of factory activity in Texas slowed in August, according to the Texas Manufacturing Outlook Survey, by the Federal Reserve Bank of Dallas. The production index decreased by 10 points to 20.8, while the new orders index retreated to 15.6 from 26.8. The growth rate of orders declined by …

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  • 30 August 2021 5:42 pm

    Reuters: OPEC+ Are Likely to Roll Over Output Policies on Wednesday

    At their meeting on September 1, the OPEC and its allies (OPEC+) are likely to maintain the oil output policies, Reuters reports, citing sources familiar with the cartel’s thinking. The sources said that OPEC+ will kick off with the planned 400K barrel per day (bpd) hike from September. “Current oil …

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  • 30 August 2021 4:20 pm

    Germany: Annual HICP Rises to 3.4% in August

    According to the preliminary estimate published by Destatist on Monday, consumer inflation in Germany, as measured by CPI, decelerated sharply in August and remained flat as compared to the 0.9% rise recorded in the previous month. On a yearly basis, the CPI edged higher to 3.9% from 3.8% in July.

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  • 30 August 2021 3:05 pm

    The Dollar at a Two-Week Low

    The dollar held near two-week lows on Monday, held in check by a message from the US Federal Reserve chairman that there is no rush to withdraw massive stimulus. The US currency’s allure took a hit since Friday, when Federal Reserve Chairman Jerome Powell said a gradual reduction of stimulus …

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