The U.S. Dollar (USD) rose on Wednesday to its highest level in about two and a half months to score large monthly gains against major peers. The greenback in June registered its biggest rise since November 2016, rising by about 3%. The Dollar Index (DXY), which measures the USD’s performance …
Read More »Oil Holds Near Multi-Year Highs as Hormuz Disruption Offsets De-Escalation Signals
Oil prices remained elevated in Asian trading on Wednesday, as investors balanced tentative diplomat…
Apple Shines, Bitcoin Struggles: A Tale of Two Markets
Apple’s stock climbed to $253.79, marking a 2.9% daily gain. The company continues to thrive on its …
War Winds Ease, Markets Breathe: Dollar Slips as Global Risk Appetite Returns
Financial markets found renewed momentum as signs of potential de-escalation in the Iran war reshape…
Diplomacy Steps In Through a Sino-Pakistani Peace Plan as War Pressures Mount
Amid intensifying conflict in the Middle East, China and Pakistan have launched a joint diplomatic i…
Inflation at Risk of Getting Stuck Near 3%, Kansas City Fed’s Schmid Sounds the Alarm
In a pointed warning that underscores the Federal Reserve’s ongoing struggle with price stability, K…
Wall Street Rallies as War Eases — But the Scars Remain
US stocks jumped on Tuesday as a wave of optimism swept through markets, driven by signals that the …
Energy Markets Cool After War-Driven Spike as Hopes for De-escalation Grow
After weeks of sharp gains fueled by the war with Iran, oil prices are beginning to retreat. US crud…
Yen Strikes Back: Intervention Fears and Hawkish Signals Push USD/JPY Lower
The Japanese Yen regained strength on Tuesday, sending the USD/JPY pair lower and pulling it away fr…
Gold Stalls Near $4,600 as Dollar Softens—but Bigger Pressures Keep Gains in Check
Gold prices hovered near the $4,600 level on Tuesday, finding modest support as the US dollar eased …
Wall Street Opens Higher as Iran De-Escalation Hopes Lift Risk Sentiment
U.S. equities opened firmly higher on Tuesday, as investor sentiment improved following reports that…
Market Analysis
July, 2021
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1 July 2021 12:05 am
Oil Settles Higher Following Inventory Data
Oil prices finished higher on Wednesday, after data showed that U.S. crude inventories declined for the sixth consecutive week. Markets are anticipating the decision by members of the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies on output curbs. Brent crude futures for September delivery gained 34 …
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June, 2021
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30 June 2021 11:39 pm
Gold Futures Fall for the Month to Limit Quarterly Gains
Gold prices rose on Wednesday, amid the U.S. Dollar (USD) decline across the board, but showed a varied performance on the monthly and quarterly levels. The yellow metal’s front month contract for July delivery added $8.00, or 0.45%, to settle at $1,770.80 per ounce. This marked the biggest daily gain …
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30 June 2021 10:22 pm
European Stocks Maintain Monthly and Quarterly Gains
European stocks closed lower on Wednesday, amid concerns about the rising number of coronavirus cases, especially of the Delta variant, as well as reflation fears. The STOXX Europe 600 index lost 3.53 points, or 0.77%, and closed at 452.84 points. This market the biggest daily loss for the pan-European index …
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30 June 2021 9:40 pm
Chicago PMI Hits Four-Month Low in June
The Chicago Business Barometer Index declined in June to 66.1 from 75.2 in May, hitting a four-month low, data showed on Friday. During the second quarter (Q2) of the year, the Purchasing Manager Index (PMI) rose by 7.9 points to 71.1, according to ISM-Chicago. This marked the highest quarterly reading …
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30 June 2021 8:30 pm
U.S. Oil Inventories Down for Sixth Straight Week
Crude oil inventories in the United States declined last week for the sixth consecutive week, according to official data. The U.S. Energy Information Administration (EIA) on Wednesday reported that crude inventories fell by 6.7 million barrels in the week to June 25. The drop in oil inventories exceeded most market …
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30 June 2021 7:17 pm
U.S. Pending Home Sales Surge in May
U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday. The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors. The surge in the gauge of contracts signed last month came against …
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30 June 2021 7:04 pm
U.S. Private Payrolls Rise More than Expected
U.S. private payrolls rose more than expected during June, with businesses filling more vacancies to increase production amid demand recovery with the economy reopening, data showed on Wednesday. Private payrolls increased by 692,000 jobs this month, compared with May’s reading of 886,000, which was revised downwards from an initially estimated …
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30 June 2021 6:03 pm
Turkish Lira Rises Despite Positive US Data
Despite the positive US data on the labor market, and the advance of the US dollar index, the Turkish lira managed to rise strongly against the dollar after days of decline. The data released today also indicates that the trade balance deficit widened on an annual basis by 20.2% during …
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30 June 2021 5:13 pm
The European Union Adds 11 Countries to Its List of Safe Travel, Including Saudi Arabia And Jordan
Diplomats said EU governments have agreed to add 11 countries, including Saudi Arabia, Jordan and Qatar, to their list of countries that will allow non-essential travel from them. The ambassadors of the twenty-seven countries of the Union agreed to add these countries in today’s meeting, with the decision to take …
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30 June 2021 4:41 pm
Canada: Real GDP Contracts by 0.3% in April
Canada’s Real Gross Domestic Product (GDP) contracted at 0.3% in April, the data published by Statistics Canada showed on Wednesday. This reading came in better than the market expectation for a decrease of 0.8%. In March, the Canadian economy grew by 1.3%.
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30 June 2021 4:36 pm
US: Private Sector Employment Rises by 692K in June
Employment in the US’ private sector increased by 692,000 in June, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed May’s print of 886,000 (revised from 978,000) and surpassed the market expectation of 600,000.
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30 June 2021 3:22 pm
OPEC+ to Discuss Extension of Oil Supply Deal Beyond April 2022
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, is expected to discuss a potential extension of the oil supply deal beyond April 2022 on Thursday, Reuters reported, citing two OPEC+ sources.
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