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Market Analysis

July, 2021

  • 23 July 2021 4:42 pm

    Oil Prices Drop on Demand Concerns

    Oil prices fell from the level of $ 74 a barrel on Friday, July 23. Still, it is on track to end the week with little change, after rebounding from a sharp decline on Monday, supported by expectations that supply will remain tight despite the recovery in demand. Oil prices …

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  • 23 July 2021 3:42 pm

    US Dollar on the Way to Weekly Gain

    The US dollar is on course to close the week slightly higher after a few days of volatility when it was hit by a shift in risk appetite, with the market now focused on the US Federal Reserve meeting next week. The dollar index rose 0.2% during the week and …

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  • 23 July 2021 2:56 pm

    GBP/USD at Daily Lows on UK Retail Sales

    GBP/USD was struggling a little after the UK’s mixed retail sales figures and was trading close to daily lows, around 1.3700. GBP/USD was fairly unwavering after UK data, showing that Core Retail Sales rose 0.5% in June compared to 0.4% expected and -1.3% previously. On a yearly basis, UK retail …

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  • 23 July 2021 1:46 pm

    European Stocks En Route to High Weekly Close

    European shares jumped this Friday, heading toward a high weekly close, with optimism over the business results season and the European Central Bank vowing to continue monetary support due to the high risks of the surge in Covid-19 cases. The STOXX Europe 600 index rose 0.4% by 07:19 GMT, hitting …

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  • 23 July 2021 12:49 pm

    UK: Preliminary Manufacturing PMI Falls to 64.2 in July

    UK Manufacturing PMI came in below estimates at 60.4 in July.The UK Services PMI fell to 57.8 in July, below expectations. UK IHS Markit/CIPS Manufacturing Purchasing Managers’ Index fell to 60.4 in July vs. 62.5 expected and the final June figure of 63.9. The UK Services Business Activity Index for …

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  • 23 July 2021 12:19 pm

    Gold Prices Heading for Weekly Loss on Greenback Rally

    Gold prices stabilized during trading Friday, July 23, but are heading for the first weekly decline in five weeks, as the rally in the dollar made the metal more expensive for holders of other currencies. The spot price of gold settled at $1807.45 an ounce by 06:34 GMT, recording a …

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  • 23 July 2021 11:41 am

    Barclays Raises Its Oil Price Forecast

    Barclays Bank said on Thursday that supply and demand factors in the oil market predict a slow increase in prices over the next few months and raised its forecast for the price of crude oil in 2021 by between three and five dollars a barrel. “Oil prices could rise to …

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  • 23 July 2021 11:22 am

    UK: Retail Sales Increase by 0.5% in June, GBP/USD Retreats

    UK retail sales rose 0.5% in June versus expectations of 0.4% and -1.3% from the previous month. Core retail sales, which excludes auto fuel sales, came in at 0.3% m/m vs. expected 0.6% and -2.0% from the previous month. Yearly, UK retail sales rose 9.7% in June versus expected 9.6% …

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  • 23 July 2021 2:48 am

    France Rejects British Proposal for BREXIT Renegotiations

    The French government has rejected the recent request by the United Kingdom to renegotiate the post-Brexit arrangement for Northern Ireland. The French Minister of Europe and Foreign Affairs, Clement Beaune, dismissed accusations of European dominance regarding the issue, Reuters reported. “The European Union has dedicated days and nights for the …

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  • 23 July 2021 2:44 am

    Euro Declines Following ECB Vow to Maintain Accommodative Policy

    Eurozone

    The Euro (EUR) declined on Thursday against the U.S. Dollar (USD), after the European Central Bank (ECB) announced new monetary policy targets that suggest extending support for longer to ensure the Eurozone economic recovery while boosting inflation that has been low for nearly a decade. The EUR/USD pair declined by …

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  • 23 July 2021 2:21 am

    Wall Street Closes with Modest Gains

    U.S. stocks finished Thursday with modest gains, maintaining a rising trend for the third consecutive session, as Wall Street investors shook off concerns about recovery after data showed a surge in jobless claims last week. The Dow Jones Industrial Average gained 25.35 points, or 0.07%, to close at 34,823.35 points. …

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  • 23 July 2021 1:44 am

    Oil Prices Rise to Highest Level in a Week

    Oil prices rose on Thursday to their highest level in about a week, maintaining an upwards trend for the third consecutive session. Despite concerns about the resurgence of the coronavirus with the spread of the Delta variant, crude futures seem to be supported by positive expectations for demand recovery during …

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  • 23 July 2021 12:45 am

    Gold Closes Higher as Risk Appetite Fades

    Gold futures for July delivery rose on Thursday, amid a deterioration in the risk appetite among investors after data showed a surge in jobless claims in the U.S., promoting more concerns about the recovery from the pandemic. The yellow metal’s gains also come amid fluctuations by the U.S. Dollar (USD) …

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