The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy. The lira reached 7.8650 dollars against the …
Read More »Markets Absorb Japan’s Election Shock as Focus Shifts to Key U.S. Data
Global markets opened the week digesting a major political shock from Japan while cautiously reposit…
Bitcoin Holds Above $70K as Risk Appetite Rises After Japan Election
Bitcoin edged slightly higher on Monday, trading at $70,584, up 0.43%, as investors navigated the vo…
Euro Prepares for Greater Global Role as Dollar Weakness Persists
European financial policymakers are signaling that the euro is increasingly positioned to play a lar…
Swiss Franc Surges as Dollar Dips
The U.S. Dollar slid below 0.77 against the Swiss Franc on Monday, marking a notable move in global …
Dollar Slides as Global Demand Wavers
The U.S. Dollar Index (DXY) fell 0.80% to 96.896, retreating from yesterday’s close of 97.681. Marke…
U.S. Stock Futures Dip as Markets Await Key Jobs, Inflation Data and Fresh Earnings
U.S. stock futures edged slightly lower on Monday, as investors adopted a cautious stance at the sta…
Dollar Slips as Markets Brace for Key U.S. Data, Yen Gains on Intervention Signals
The U.S. dollar edged lower on Monday as investors positioned for a data-heavy week that could shape…
U.S. Pushes South Caucasus Peace Deal as Vance Backs Strategic Trade Corridor Bypassing Russia and Iran
U.S. Vice President JD Vance is set to visit Armenia and Azerbaijan this week in a diplomatic push t…
European Stocks Advance as Earnings Momentum Builds and Markets Brace for Key U.S. Data
European equities opened the week on a positive note on Monday, as investors positioned for a busy s…
Bitcoin Reclaims $70,000 as Risk Appetite Stabilizes Ahead of Key U.S. Data
Bitcoin traded comfortably above the $70,000 mark on Monday, consolidating gains after a sharp rebou…
Market Analysis
May, 2021
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28 May 2021 12:40 pm
Gold Falls on The Rise of The Dollar And Bond Yields Ahead of The release of US Inflation Data
Gold prices fell on Friday, May 28th, as the dollar and US Treasury yields rose, while investors awaited the release of personal consumption data in the United States later in the day for indications of inflationary pressures. Gold fell in spot transactions 0.2% to $ 1891.45 an ounce. The metal …
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28 May 2021 12:20 pm
Japan Shares Close Higher With Growing bets on Recovery on Vaccine
Japanese stocks closed higher on Friday, May 28, as investors flocked to stocks linked to the wave of selling launched in the previous session by an adjustment by MSCI, while progress in the launch of vaccines raised risk appetite in hopes of a rapid economic recovery. The Nikkei index rose …
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28 May 2021 5:50 am
Fed’s Reverse Repurchase Facility Surges to New All-Time High
Cash flows into the New York Federal Reserve’s reverse repurchase (RRP) facility hit a new record high at $485 billion on Thursday, according to recent reports. The development is increasing the pressure on key interest rates that could decline into the negative territory below zero. The previous all-time high was …
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28 May 2021 2:09 am
EIA Expects Higher Demand and Fuel Price Hike
The United States Energy Information Administration (EIA) has projected that energy prices will continue to rise on increased demand, according to its latest outlook report. The EIA now expects the global demand for fuel will reach 97.7 million barrels per day, rising by 5.4 million barrels per day compared to …
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28 May 2021 12:03 am
Oil Maintains Gains for Fifth Session to Reach Highest Level Since 2018
Oil prices rose on Thursday for the fifth consecutive session, with economic data boosting hopes for recovery. Specifically, the U.S. GDP data, which showed a growth rate of 6.4%, provided support to crude oil prices, as well as the drop in jobless claims. Brent crude futures for July delivery rose …
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27 May 2021 11:01 pm
Gold Sees First Loss in Four Sessions
Gold prices declined on Thursday after three consecutive rises, losing the $1,900 level, as the U.S. Dollar (USD) strengthened with the Treasury yields rising. The yellow metal futures for June delivery lost $5.5, or 0.3%, to close at $1,895.70 per ounce. Gold futures for August delivery also dropped $5.30, or …
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27 May 2021 9:57 pm
Kansas Fed Manufacturing Index Declines
The Tenth District manufacturing activity maintained growth during May, expanding at a strong pace, with positive expectations for future activity, according to the Federal Reserve Bank of Kansas. However, the monthly composite index declined to 26 this month, from 31 in April. Factory activity expanded on an annual basis, maintaining …
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27 May 2021 9:30 pm
Yellen: Biden Budget to Raise Debt-to-GDP Ratio
The proposed budget by the United States President Joe Biden will increase the ratio of the public debt to the gross domestic product (GDP), Secretary of the Treasury, Janet Yellen, said on Thursday. However, the budget will not add extra pressures on the inflation rate, Yellen noted. Speaking to a …
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27 May 2021 8:59 pm
Biden Administration Closely Monitoring Inflation – Yellen
The United States Secretary of the Treasury, Janet Yellen, said on Thursday that the recent rise in inflation will most likely be temporary, with the economy still recovering from the coronavirus (COVID-19) pandemic. She further told Congress that the administration of President Joe Biden, as well as U.S. regulators, are …
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27 May 2021 8:29 pm
U.S. Capital Goods Orders Rise in April
U.S. new capital goods orders rose in April more than expected, as businesses recover from the coronavirus pandemic, data showed on Thursday. Orders increased by 2.3% last month, according to the U.S. Department of Commerce. On an annual basis, the rise was by 14.7%. Core capital goods shipments also grew …
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27 May 2021 7:03 pm
Pending Home Sales Decline in April
The United States Pending Home Sales Index declined by 4.4% on a monthly basis in April, data showed on Thursday. The decrease resulted from a record-low supply of homes available for sale during the first quarter of the year, according to the National Association of Realtors (NAR). This comes against …
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27 May 2021 5:34 pm
US: Weekly Initial Jobless Claims Retreat to 406K
There were 406,000 initial claims for unemployment benefits in the US during the week ending May 22, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 425,000 and followed the previous print of 444,000.
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