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Market Analysis

June, 2021

  • 23 June 2021 7:21 pm

    U.S. Oil Inventories Down 7.6 M Barrels in Week – EIA

    Crude oil inventories in the United States declined by 7.6 million barrels last week, data showed on Wednesday. For the week ended June 18, gasoline stockpiles dropped by 2.9 million barrels, while distillate inventories increased by 1.8 million, according to the Energy Information Administration (EIA).

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  • 23 June 2021 7:17 pm

    U.S. Home Sales Down 5.9% in May

    New home sales in the United States declined in May by 5.9% to a seasonally adjusted annual rate of 769,000 units, official data by the U.S. Census Bureau showed on Wednesday. On an annual basis, sales increased by 9.2% last month. The number of homes available for sale by the …

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  • 23 June 2021 6:33 pm

    U.S. Markit Services PMI Declines to 64.8 in June

    The business activity in the US service sector continued to expand at a strong pace in June but lost momentum compared to May with the Markit Services PMI declining to 64.8 from 70.4 70 figure was expected. The Composite PMI fell to 64.9 in June from 68.7 in May.

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  • 23 June 2021 5:54 pm

    U.S. Manufacturing PMI Jumps to 62.6 in June

    The IHS Markit’s Manufacturing PMI for the US rose to 62.6 in June from 62.1 in May to a record high. This reading came in better than the market forecast of 61.4 and revaled that the business activity in the manufacturing sector continued to expand at an unprecedented pace.

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  • 23 June 2021 5:17 pm

    OPEC+ Considering Boosting Output by 500K bPD When They Meet Next Week

    OPEC

    The Organization of the Petroleum Exporting Countries (OPEC) and its allies are considering boosting the group’s collective output by some 500,000 barrels per day when they meet next week, the Wall Street Journal reported on Wednesday, according to Reuters

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  • 23 June 2021 4:45 pm

    Canada: Retail Sales Decline by 5.7% in April

    Retail Sales in Canada fell by 5.7% on a monthly basis in April, the data published by Statistics Canada showed on Wednesday. This reading followed March’s increase of 3.6% and came in worse than the market expectation for a contraction of 5%.

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  • 23 June 2021 3:48 pm

    BoE Preview: Forecasts From Three Major Banks

    BoE

    The Bank of England announces its latest decision at 11:00 GMT on Thursday, June 24 here are the expectations forecast of three major banks. Wells Fargo “We expect policymakers to provide an update on how the economy is evolving and if the renewed spread of COVID-19 is disrupting economic activity. …

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  • 23 June 2021 3:07 pm

    Gold Gains After Powell Calms Interest Rate Fears

    Gold prices rose on Wednesday, June 23, after US Federal Reserve Chairman Jerome Powell pledged to keep interest rates near zero for some time, bringing the dollar to near its lowest level in a week. Spot gold rose 0.2% to $1,782.46 an ounce, and gold futures in the United States …

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  • 23 June 2021 2:38 pm

    Oil Hits More Than Two-Year High Thanks to US Inventories

    Oil and Gas oil (

    Oil topped $75 a barrel on Wednesday, hitting its highest since late 2018 after an industry report on crude inventories in the United States bolstered views of tight supplies in the market as travel grew in Europe and North America. Two market sources told Reuters that the American Petroleum Institute …

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  • 23 June 2021 2:27 pm

    Eurozone Business Activity Grows at Fastest Pace in 15 Years Thanks to Demand

    A survey showed that business activities in the eurozone grew at the fastest pace in 15 years this month, as the easing of public isolation measures and the release of demand led to a boom in the services sector that dominates the bloc. The preliminary reading of the IHS Markit …

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  • 23 June 2021 2:26 pm

    Nikkei Stable, Chip Gains Offset Pharmaceutical Losses

    Japan

    The Japanese Nikkei index weakened on Wednesday, June 23rd, as gains in chip-related heavyweights, which tracked Wall Street yesterday, offset losses in the pharmaceutical industry. Nikkei rose 0.03% to close at 28,874.89 points, after witnessing the largest increase since 2021 on Tuesday, while the broader Topix index fell 0.53% to …

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  • 23 June 2021 1:25 pm

    Eurozone Preliminary Manufacturing PMI Arrives at 64.9 in June

    The Eurozone manufacturing sector activity boosted its pace of expansion in the reported month, the latest manufacturing activity survey from IHS/Markit research showed on Wednesday. The manufacturing purchasing managers index remained steady at 63.1 in June and beat 62.1 expectations. Services PMI jumped to 41-month highs of 58.0 in June …

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  • 23 June 2021 1:20 pm

    UK Preliminary Manufacturing PMI eases to 64.2 June

    The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) eased to 64.2 in June versus 64.0 expected and 65.6 – May’s final reading.

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