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Market Analysis

February, 2021

  • 8 February 2021 6:00 pm

    Bitcoin Jumps to an Unprecedented Peak, Backed by News of Tesla’s Investment

    Bitcoin jumped more than 14% to an unprecedented peak after Tesla announced that it had invested nearly $ 1.5 billion in cryptocurrency last month. And that news raised Bitcoin to exceed 44 thousand dollars. The electric car maker revealed the investment ten days after its CEO, Elon Musk, added the …

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  • 8 February 2021 5:35 pm

    Investor Confidence in The Eurozone Decreased

    Today’s survey reported that investor sentiment in the eurozone fell unexpectedly in February, as the economy was affected by the lockdown measures aimed at curbing the pace of Covid-19 cases, unlike other regions in the world that achieved further recovery. Sentex Euro-zone index fell below zero, dropping from 1.3 in …

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  • 8 February 2021 3:41 pm

    US Dollar Settled After Weak US Inflation And Central Tendency to Monetary Easing

    The dollar fell during a quiet Asian session, after weaker than expected inflation data in the United States for January and the Federal Reserve’s repetition of its monetary easing stance, but the US currency compensated for some of its losses with the opening of European markets. Data on Wednesday showed …

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  • 8 February 2021 2:44 pm

    German Industrial Production Was Flat in December

    German industrial production remained unchanged in December, in light of the comprehensive closures imposed at home and abroad to contain the Covid-19 pandemic, which curbed the export-oriented manufacturing sector in the largest European economy. This follows a 1.5% growth in the previous month, according to figures released by the Federal …

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  • 8 February 2021 2:18 pm

    Technology Stocks in Europe Rise led by Dialog

    European stocks rose, after achieving their best weekly gains in nearly three months, as Dialog Semiconductor boosted the technology sector, while hopes for a faster economic recovery continued on the back of the global distribution of vaccines. Renesas Electronics and Dialog said they had agreed that the Japanese chipmaker would …

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  • 8 February 2021 1:28 pm

    Gold Rises on Dollar’s Fall and US Stimulus Hopes

    Gold prices rose, as weak US jobs data boosted hopes of more fiscal stimulus and put pressure on the dollar, although the rise in treasury instrument yields limited the metal’s gains. The spot price of gold was 0.1% up to $ 1813.96 an ounce. US gold futures rose 0.1% to …

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  • 8 February 2021 12:43 pm

    Brent Hits $60 on Supply Cuts And Stimulus Hopes

    Oil prices rose to their highest levels in just over a year, with Brent crude futures exceeding $60 a barrel, supported by supply cuts from major producers and hopes for more US economic stimulus measures to support demand. Brent crude for April delivery touched $60.06 a barrel, its peak since …

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  • 6 February 2021 2:14 am

    Oil Prices Closes Higher and Extend Large Weekly Gains

    Oil prices rose on Friday, extending their weekly gains, most of which came on the back of the commitment of the OPEC+ alliance to the agreed-upon production cuts. This week, oil prices kept rising to new highs not seen in a year. Brent crude futures for April delivery rose by …

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  • 6 February 2021 12:22 am

    Silver Overcomes Losses and Ends the Week Higher

    Silver prices rose on Friday, ending a turbulent week for the metal that began with silver futures rising to their highest level since 2013, before dropping by more than 10% on Tuesday. Today, silver futures for March delivery gained 79 cents, or 3%, to finish at $27.019 per ounce. For …

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  • 6 February 2021 12:20 am

    Gold Returns to Weekly Losses

    Gold prices rose on Friday, supported by weak employment data in the United States and the anticipation for the passing of a new $1.9 trillion relief bill. In addition, the decline of the U.S. Dollar (USD) across the board helped provide support for gold. Today’s rise helped the yellow metal …

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  • 5 February 2021 11:38 pm

    U.S. Oil Rig Count Rises for 11th Week in Row

    The number of active rigs drilling for crude oil and natural gas in the United States increased by 8 this week, according to the weekly reported released by Baker Hughes on Friday. The total rig count currently stands at 392, less by 398 rigs compared with the same time of …

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  • 5 February 2021 9:18 pm

    European Stocks Close Mixed but Rise for the Week

    European stocks closed mixed on Friday, amid anticipation for a wider rollout of Coronavirus vaccines. The pan-continental STOXX Europe 600 index closed unchanged, but logged weekly gains of 3.45%, supported by the improved risk sentiment that helped Wall Street score new record highs, as well as the positive performance by …

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  • 5 February 2021 9:13 pm

    Canadian Dollar Rises Despite Negative Data

    The Canadian Dollar (CAD) is rising against the declining U.S. Dollar (USD) on Friday, despite data showing that the Canadian economy continues to be impacted by the Coronavirus pandemic. Canada’s Ivey Purchasing Managers Index (PMI) rose last month, but remained below the 50-point mark, which signaled contraction for the second …

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