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Market Analysis

April, 2021

  • 12 April 2021 6:14 pm

    Wall Street Opens Lower, Focus on Earnings And Data

    Wall Street’s main indexes fell on Monday, while the S&P 500 retreated from record highs, as investors brace themselves to start the earnings season and the release of a major inflation report this week. The Dow Jones Industrial Average fell 25.54 points, or 0.08%, to 33,775.06 points. The Standard & …

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  • 12 April 2021 5:43 pm

    Iraq Raises Selling Prices of Basrah Light And Medium Crude Oil to Asia in May

    Iraq

    On Monday, a pricing document showed that Iraq raised the official selling price of Basra Light crude in May shipments to Asia to a premium of $1.40 per barrel to DME Oman futures, an increase of $0.10 over the previous month. According to Reuters. The official selling price of Basra …

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  • 12 April 2021 4:50 pm

    Bitcoin Hits Record Highs

    Bitcoin rose to 61,234 on Monday to reach a record high at 61,781 USD on March 13th as the largest American cryptocurrency exchange Coinbase Global Inc will begin trading on the Nasdaq Stock Exchange on April 14th. The digital currency rose nearly nine-fold in the past year, driven by institutional …

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  • 12 April 2021 4:46 pm

    Germany’s Merkel: Current COVID-19 Infection Rate is Much Too High

    Merkel

    German Chancellor Angela Merkel said on Monday that the current coronavirus infection rate is “much too high” and added that the third wave may be the toughest yet.  “Vaccine production capacity must be increased significantly, both in Europe and in Germany,” Merkel noted.

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  • 12 April 2021 4:43 pm

    UK PM Johnson’s Spokesman: Significant Differences With EU Remain on Northern Ireland Protocol

    British Prime Minister Boris Johnson’s spokesman said on Monday that discussion with the European Union on the Northern Ireland Protocol had been constructive but added that significant differences remain. 

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  • 12 April 2021 3:40 pm

    Oil Rising But Within a Narrow Range

    Oil prices rose, but they remained moving within a narrow range Monday, April 12, amid optimism about the recovery of the US economy with an acceleration in the pace of immunization campaigns against the Corona virus, but the increase in Covid-19 infections in other regions of the world is holding …

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  • 12 April 2021 3:38 pm

    Eurozone Retail Sales Stronger Than Expected in February

    Eurozone

    Eurozone retail sales were stronger than expected in February, data revealed, as some countries eased restrictions on fighting the Covid-19 pandemic that month before re-tightening them in March. The European Union statistics office Eurostat said that retail sales in the 19 countries that use the euro rose 13% from the …

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  • 12 April 2021 3:02 pm

    India Overtakes Brazil to Become The Second Largest Country in Terms of Cases

    India

    Data from the Indian Ministry of Health, Monday, April 12, showed that 168,912 new cases of coronavirus were recorded within 24 hours, which pushes the Asian country to overtake Brazil and occupy second place in the world in the number of coronavirus cases infections. According to Reuters data, the total …

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  • 12 April 2021 2:03 pm

    The US Yields Settled With Bullish Bias

    The yield on the benchmark 10-year Treasury bond settled at 1.65% during early trading on Monday, remaining stable below its 14-month high of 1.78% recorded last month. Investors are awaiting a batch of new US economic data during the week, including inflation, export and import prices to take any hint …

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  • 12 April 2021 1:59 pm

    Germany’s BDI Lowers 2021 GDP Forecast to 3.0%

    Germany

    Germany’s Bundesverband der Deutschen Industrie (BDI), a powerful industry association, slashes the economic growth forecasts for this year to 3% from 3.5% due to ongoing lockdown measures in Europe’s biggest economy. BDI stated that its expectation assumes that the measures imposed to curb the spread of the new Corona virus …

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  • 12 April 2021 1:56 pm

    The Dollar Falling Due to Falling US Bond Yields and Focus on Inflation Data

    The dollar fell to near its lowest level in two and a half weeks against the major counterpart currencies on Monday, April 12th, as a decline in US Treasury yields pressed the currency. The British pound fell, heading towards its lowest level in two months, and continued its retreat from …

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  • 12 April 2021 1:02 pm

    Oil Prices Falling With The Increase in Coronavirus Cases

    Oil prices fell on Monday, April 12 in thin trading, with the increase in the number of cases of Covid-19 in some regions of the world, which curbed prices, even as the US Central Bank indicated that the US economy may recover quickly with the acceleration of the immunization campaigns …

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  • 12 April 2021 12:40 pm

    GBP/USD Jumps Back Above 1.3700 Mark

    The GBP/USD pair gained more than 50 points and rose from two-month lows to reach new highs in the 1.3720-25 areat the start of the European session. The weaker tone surrounding the US Treasury yields limited the strong gains for the US dollar, which helped the GBP/USD pair to bounce …

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