Oil prices maintained their rising trend and ended Thursday at a fresh highest level in about a year, supported by the commitment of the OPEC+ alliance to output cuts and the prospects of economic recovery and increased government stimulus in the United States. Brent crude futures for April delivery gained …
Read More »Wall Street Bounces Back: Dow Surges as Trade Hopes and Fed Bets Lift Market Mood
After a turbulent week marked by financial sector jitters and political uncertainty, the Dow Jones I…
Gold Retreats from Record High as Trump Softens Stance on China
Gold’s meteoric rise hit a speed bump on Friday, slipping 2% from its all-time high after U.S. Presi…
Washington Stalemate Deepens: U.S. Government Shutdown Hits 17 Days With No End in Sight
The United States government shutdown entered its 17th day on Friday, making it the third-longest in…
Euro Holds Firm as France Restores Political Calm, While UK Faces Fiscal Strain
The euro remained stable on Friday, supported by renewed political calm in France after recent tensi…
Bitcoin’s October Slump Fuels Hope for a Major Comeback
Bitcoin’s price dropped again in October, stirring memories of past downturns that often came just b…
Washington Moves to Ease Capital Rules for Small Banks in Bid to Boost Lending
U.S. regulators are preparing a proposal aimed at giving community banks more room to lend by easing…
Swiss Franc Rises as Global Trade Worries and Rate Cut Bets Pressure the US Dollar
Trade Tensions and Rate Cut Bets Push the Dollar DownThe US Dollar is facing significant downward pr…
U.S. Futures Extend Losses as Regional Bank Worries and Geopolitical Tensions Weigh
U.S. stock index futures slipped further on Friday, extending the previous session’s selloff as rene…
Oil Prices Slip as Trump–Putin Peace Talks Ease Supply Fears
Crude on Track for 3% Weekly LossOil prices extended their decline on Friday, heading toward a weekl…
Bank of Japan Signals Continued Tightening Path Amid Global Uncertainty
The Bank of Japan (BOJ) reaffirmed its cautious yet tightening stance on Friday, as Deputy Governor …
Market Analysis
February, 2021
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5 February 2021 12:07 am
Gold Prices Return to Fall Sharply as USD Rises
Gold prices plunged on Thursday, on the back of the U.S. Dollar (USD) gaining momentum and rising across the board after data showed a decline in jobless claims in the United States, indicating an improvement in economic recovery from the Coronavirus pandemic. In addition, the rising U.S. Treasury yields pressured …
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4 February 2021 10:52 pm
Dollar Rises Across the Board
The U.S. Dollar (USD) rose on Thursday across the board, following the Bank of England (BoE) first policy meeting of the year, in which it indicated no plans to set negative interest rates during the next six months. The Dollar Index (DXY), which measures the greenback’s performance against a basket …
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4 February 2021 10:02 pm
European Stocks Close Mixed Following BoE Meeting
European stocks closed Thursday on a mixed note, amid anticipation for the developments of the Coronavirus pandemic across the continent. The STOXX Europe 600 index rose by 0.5%, with the banking sector leading the gains and adding 2.7%. The French index CAC40 finished higher by 0.82%, while the German index …
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4 February 2021 7:56 pm
U.S. Natural Gas Inventories Decline in Week: EIA
Natural gas inventories in the United States decreased by 192 Bcf during the week ending on January 29, according to data by the U.S. Energy Information Administration (EIA). Working natural gas in storage stood at 2,689 Bcf as of last Friday. This represents an increase of 41 Bcf compared with …
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4 February 2021 7:49 pm
U.S. Factory Orders Rise for Eighth Month in Row
Factory orders in the United States increased for the eighth consecutive month during December, rising by 1.1%, following a 1.3% rise in November, data by the U.S. Department of Commerce showed on Thursday. Factory shipments grew by 1.7% in December and unfilled orders declined by 0.3%. Orders for durable goods …
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4 February 2021 6:03 pm
US: Weekly Initial Jobless Claims Decline to 779K
There were 779,000 initial claims for unemployment benefits in the US during the week ending January 30, the data published by the US Department of Labor (DOL) showed on Thursday. This reading followed the previous print of 812,000 (revised from 847,000) and came in better than the market expectation of …
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4 February 2021 5:19 pm
BoE: Banks Will Need Six Months to Prepare For Negative Rates
The Bank of England said UK banks will need at least six months to prepare for the switch to negative interest rates. This was after the bank fixed interest rates at 0.1%. The Bank of England asked British banks in October about their preparedness for negative interest rates, after it …
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4 February 2021 4:27 pm
IMF Introduces a New Approach to Assessing Debt Sustainability
The International Monetary Fund has said it is launching a new approach to assessing debt sustainability for countries that are able to access financial markets with the goal of predicting the risks of financial crises more accurately and improving transparency. Fund officials said that it is expected to activate an …
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4 February 2021 4:04 pm
BoE Leaves Policy Rate And QE Unchanged
The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its January policy meeting and kept the Asset Purchase Facility steady at £895 billion.
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4 February 2021 3:45 pm
Cryptocurrency Dogecoin Goes up After Elon Musk Tweet
The cryptocurrency, Dogecoin, rose by more than 50% after US billionaire Elon Musk showed his support on Twitter, two days after announcing that he would be away from the social networking site for “a while.” Dogecoin jumped to $0.05,798, according to data on the blockchain and cryptocurrency site CoinDesk. Tesla …
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4 February 2021 3:11 pm
Eurozone Retail Sales surge by 2% in December
Retail Sales in the euro area rose by 2% on a monthly basis in December, the data published by the Eurostat showed on Thursday. This reading followed November’s contraction of 5.7% and came in better than the market expectation of 1.6%. On a yearly basis, Retail Sales increased by 0.6% …
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4 February 2021 2:41 pm
Currencies Overview: US Dollar Rising on Optimism And Pound Awaits BoE Meeting
The dollar rose to its highest in more than two months against the euro and the yen on Thursday (February 4th), as pessimism about the outlook for the US economy subsided before the publication of important data on the jobs market. The pound fell against the dollar, but it is …
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