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Market Analysis

August, 2021

  • 24 August 2021 1:06 am

    Gold Extends Gains as Dollar Retreats to Restore $1,800 Level

    Gold prices rose for the second straight session on Monday, building on the U.S. Dollar’s (USD) decline across the board against major currencies amid selling pressures following its surge to a nine-month high by the end of last week. Gold’s front-month futures added $22.20, or 1.25%, to finish at $1803.2 …

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  • 24 August 2021 12:52 am

    European Stocks Close Higher for Second Day

    European stocks continued to rebound for the second consecutive session on Monday, starting the week with a positive performance to recoup some of its recent losses. The STOXX Europe 600 index rose by 3.08 points or 0.66% to finish at 471.88 points. Today marked the biggest daily gain for the …

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  • 23 August 2021 9:35 pm

    Euro Trading Higher Despite Consumer Confidence Decline

    Eurozone

    The Euro (EUR) is trading higher on Monday, opening the week with a positive performance amid a decline by the U.S. (USD) that is seeing increased selling pressures for profit-making after surging to a nine-month high last week. The European currency’s rise comes despite a recent slump in Eurozone consumer …

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  • 23 August 2021 7:42 pm

    U.S. Existing Home Sales Up for Second Month in July

    Home sales in the United States continued to rise for the second consecutive month against market expectations, data by the National Association of Realtors showed on Monday. U.S. existing home sales rose by 2% to a seasonally adjusted annual rate of 5.99 million units in July from 5.87 million units …

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  • 23 August 2021 5:44 pm

    Bitcoin Breaks 50k Barrier, Cardano Making Its Way up Fast

    For the first time since the beginning of last May, Bitcoin, the largest cryptocurrency by value, succeeded in surpassing the $50,000 levels, which served as an important psychological resistance point for the bulls. According to analysts, testing the levels of $50,000 establishes new support levels above the $48,000 in an …

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  • 23 August 2021 5:29 pm

    The US Dollar Declining After Recording The Largest Weekly Rise

    The US dollar fell against its rivals on Monday in a bout of profit-taking after posting its largest weekly rise in more than two months last week, supported by concerns about the global growth outlook, and the main source of investor concerns is the global importance of the Coronavirus delta …

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  • 23 August 2021 4:47 pm

    US: Chicago Fed National Activity

    The data published by the Federal Reserve Bank of Chicago showed on Monday that the National Activity Index (CFNAI) improved to 0.53 in July from -0.01 in June.

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  • 23 August 2021 4:27 pm

    German Economic Growth Undershoot Projection This Year

    Germany’s economic growth may fall short of expectations this year, the Bundesbank said in a monthly report on Monday, and that the resurgence of the coronavirus could impose unexpected pressure on the economy in the fall. Europe’s largest economy is expected to grow by about 3.7% this year and 5.2% …

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  • 23 August 2021 3:23 pm

    Oil Rises 3% After a Week of Losses Thanks to The Decline in USD

    Oil prices jumped more than 3% Monday, August 23, after a seven-day losing streak driven by a weaker dollar, despite demand concerns fueled by an increase in cases of the mutated delta strain of the coronavirus. Brent crude rose $2.17, or 3.2%, to $67.35 a barrel by 09:01 GMT, after …

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  • 23 August 2021 1:57 pm

    Eurozone Business Activity Continues to Boom in August

    Monday’s survey showed that the strength of business activity in the eurozone continued this month, but down from the highest pace in two decades recorded in July, as the pace of vaccination campaigns allowed more companies to open their doors and customers venture out of their homes. Activities could have …

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  • 23 August 2021 1:14 pm

    European Shares Rise After a Hard Week

    European shares rose after their Asian counterparts rose on Monday, August 23 after a brutal sell-off last week on worries about global growth, while investors awaited a series of business data. The STOXX 600 index of European shares rose 0.6% by 07:14 GMT after fears of rising Covid-19 cases and …

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  • 23 August 2021 12:37 pm

    Nikkei Rises From 8-month Low

    Japan’s Nikkei index jumped Monday, August 23, after falling to an eight-month low in the previous session, as auto stocks rebounded from losses after Toyota Motor announced a 40% cut in global production next month. Nikkei climbed 1.78% to 27,494.24 thanks to bargain hunting, after hitting its lowest level since …

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  • 21 August 2021 5:36 am

    Weekly Recap: 16 – 20 August

    The third week of August was highlighted by the release of the United States Federal Reserve’s July meeting minutes, which revealed that most of the FOMC members see the beginning of tapering asset purchases later this year. With the Fed moving towards policy normalization, the U.S. Dollar (USD) managed to …

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