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Market Analysis

February, 2021

  • 16 February 2021 8:44 pm

    Gold Decline as the USD Rebounds

    Gold prices are showing a declining performance on Tuesday, amid a rise in the United States Treasury yields and a strong rebound by the U.S. Dollar (USD). In addition, an improved risk sentiment among investors is reducing demand for safe havens in favor of riskier assets. Spot gold is currently …

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  • 16 February 2021 8:34 pm

    Oil Prices Show Mixed Performance but Remain Near Record Levels

    Crude oil prices are showing a mixed performance on Tuesday, with the U.S. benchmark futures rising amid cold weather conditions shutting production in Texas and raising demand for energy and heat sources. Meanwhile, the global benchmark Brent crude futures are showing a relative decline after recent surges with a strong …

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  • 16 February 2021 7:24 pm

    Wall Street Opens Week at New Record Highs

    The main indices of the New York Stock Exchange (NYSE) opened Tuesday’s session at new record high levels, supported by an improved investors’ sentiment, amid hopes in Wall Street for economic recovery from the Coronavirus pandemic. Recent positive economic data has helped increase risk sentiment and supported gains by the …

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  • 16 February 2021 7:18 pm

    USD Strongly Recovers from Three-Week Low

    The U.S. Dollar (USD) rose on Tuesday, beginning the week with a positive performance following a long weekend that was prolonged by Presidents Day on Monday. The positive performance by the USD is supported by the strong increase in the U.S. Treasury yields, amid optimism for economic recovery from the …

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  • 16 February 2021 6:01 pm

    US: NY Empire State Manufacturing Index Improves February

    The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey rose to 12.1 in February from 3.5 in January, the NY Fed’s report revealed on Friday. This reading came in better than analysts’ estimate of 6.

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  • 16 February 2021 5:59 pm

    Bitcoin Breaks The $ 50,000 Mark for The First Time Ever

    Bitcoin jumped above $50,000 on Tuesday to a new record high, continuing a rally fueled by indications that the world’s largest cryptocurrency is gaining traction among major investors. Bitcoin reached a new peak of $ 50 thousand, and in its most recent transactions it was 3.9% at $ 49,891. The …

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  • 16 February 2021 4:27 pm

    German ZEW Economic Sentiment Index Beats Estimates in February

    The German ZEW headline numbers for February showed that the Economic Sentiment Index improved further to 71.2 versus 59.5 expected and 61.8 last. While the sub-index Current Conditions figure arrived at -67.2 in Feb versus -67.0 expected and -66.4 booked previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Feb jumped …

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  • 16 February 2021 4:04 pm

    Eurozone Preliminary GDP Contracts by 0.6% QoQ in Q4

    The Eurozone economy contracted 0.6% on quarter in the three months to December of 2020, beating -0.7% expected, the second estimate showed on Tuesday. On an annualized basis, the bloc’s GDP dropped by -5.0% in Q4 vs. -5.1% seen in the first readout while beating -5.1% expectations.

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  • 16 February 2021 3:02 pm

    Currencies Overview: US Dollar Falling With Bets on a Recovery Thanks to The Vaccine Distribution

    The dollar fell to its lowest level in three weeks today, Tuesday, while the pound sterling reached its highest level in nearly three years and currencies linked to commodities rose, as progress in the anti-Corona virus vaccination campaigns boosted investors’ hopes for a recovery. The atmosphere of optimism and the …

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  • 16 February 2021 2:16 pm

    US Oil Prices Rising Due to Cold Weather in Texas and Brent is Stable

    Oil prices hovered today near a 13-month high on the back of sudden cold weather that caused the closure of wells in Texas, the largest oil producing state in the United States, while a wage deal in Norway avoided a supply disruption in Europe, curbing gains. Prices also increased with …

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  • 16 February 2021 1:32 pm

    Platinum Breathtaking After Reaching Its Highest Level in Six and a Half Years

    Platinum retreated from its highest level in nearly six and a half years, as prices reached a technical resistance level, but expectations that the global economic recovery would fuel demand kept the metal used to stimulate the auto sector supported above $ 1,300 an ounce. Platinum, which is used in …

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  • 16 February 2021 1:14 pm

    European Shares Hovering Near Year Highs and Mining Soar

    European stocks are hovering near their highest levels in a year today, Tuesday, as investors are hopeful about a massive US stimulus package that will lead the growth of the global economy, while Glencore topped mining shares higher after a positive update. The pan-European STOXX 600 index rose 0.2%, after …

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  • 16 February 2021 12:31 pm

    Japan Stocks Extend Gains to Close at The Highest Level in 30 Tears

    Japanese stocks rose to a 30-year high today, Tuesday, as progress in the distribution of anti-virus vaccines boosted expectations that the global economy is on the verge of a strong recovery. The benchmark Nikkei index rose 1.28% to 30,467.75, closing at its highest level since August 1990. The broader Topix …

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