Oil prices fell on Friday, May 14, after losing about 3% in the previous session, as cases of Coronavirus cases remained high in India, a major consumer of crude, and with the resumption of work of a major pipeline in the United States after being closed due to a cyberattack. …
Read More »Dollar Slips as Ceasefire Hopes Temper Safe-Haven Demand
The U.S. dollar edged lower on Monday as investors assessed renewed diplomatic efforts to secure a t…
Iran Resists Hormuz Reopening as Ceasefire Talks Face Major Hurdles
Efforts to broker a ceasefire between the United States and Iran are facing mounting challenges, as …
Global Markets Quiet as Holiday Trading Meets Iran Ceasefire Hopes and Oil Volatility
Global markets started the week on a subdued note, with major European exchanges closed for a holida…
OPEC+ Output Hike Seen as Symbolic Amid Massive Middle East Supply Disruptions
The OPEC+ decision to raise production quotas by 206,000 barrels per day for May 2026 is being viewe…
Bitcoin Surges Above $69K as Ceasefire Hopes Boost Risk Appetite
Bitcoin rallied on Monday, breaking above the $69,000 level as improving geopolitical sentiment lift…
Gold Steadies as Ceasefire Hopes Offset Trump Ultimatum and Inflation Pressures
Gold prices held largely steady on Monday, recovering from early losses as markets balanced renewed …
Ceasefire Framework Emerges for Iran Conflict, Raising Hopes for Hormuz Reopening
A potential diplomatic breakthrough may be taking shape in the Middle East, as Iran and the United S…
Oil Extends Rally as Trump Deadline on Hormuz Raises Stakes for Global Supply
Oil prices climbed in Asian trading on Monday, building on strong gains from the previous session as…
Weekly Recap: From Hopes of De-escalation to New Escalation Risks, Markets Roiled by Volatility
Global markets staged a notable recovery last week after a period of sharp volatility, as investors …
Washington Taps Emergency Oil Reserves as War-Linked Supply Crisis Pushes Brent Above $109
With oil markets in turmoil and Brent crude surging past $109 a barrel, the U.S. government has move…
Market Analysis
May, 2021
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13 May 2021 1:10 am
U.S. Treasury Yields Surge to Two-Month High
Treasury bond yields in the United States continued to rise for the fourth consecutive session on Wednesday, as a rise in inflation is reducing demand for long-term debt instruments. The benchmark 10-year Treasury bond yield registered its biggest daily increase since March 18, rising by 0.071 to 1.695% Meanwhile, the …
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12 May 2021 8:03 pm
U.S. Inflation Surges to Highest Level since 2008
Consumer prices in the United States surged during April, leading to the highest rise in the inflation rate in more than 12 years, data showed on Wednesday. The Consumer Price Index (CPI) increased by 4.2% last month, according to official data by the U.S. Department of Labor. This marked the …
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12 May 2021 2:10 am
USD Declines Despite Rising Treasury Yields
The U.S. Dollar (USD) showed a mostly negative performance on Tuesday, as investors seek safe haven assets due to concerns about a rise in inflation rates. The Dollar Index (DXY) that measures the greenback’s performance against a basket of six major international currencies, is down by 0.04% at 90.17. The …
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12 May 2021 1:56 am
Oil Closes Higher amid Downstream Disruptions
Oil prices rose on Tuesday, amid disruptions due to the cyber attack on the Colonial Pipeline in the United States, which plays a huge role in the distribution of gasoline across the U.S. Crude prices fluctuated during the second session of the week, before settling with limited gains. Brent crude …
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12 May 2021 12:09 am
Fed’s Harker Says Recovery Needs More Time
The President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Tuesday that the U.S. economy needs more time to recover before reducing the current pace of asset purchases. “I don’t want to change a whole lot until we’re clear of this ditch we’ve dug ourselves into with …
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12 May 2021 12:06 am
Fed’s Brainard Stresses Patience in Policy Stance
The United States Federal Reserve Governor, Lael Brainard, said on Tuesday that the U.S. economy is recovering but remains challenged by uncertainty, reiterating the need for patience in monetary policy. “The outlook is bright, but risks remain, and we are far from our goals.”“Basing monetary policy on outcomes rather than …
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11 May 2021 11:30 pm
Gold Declines from Three-Month Highs
Gold prices declined on Tuesday, following four consecutive rises, amid an increase in Treasury bond yields in the United States. The yellow metal futures for June delivery closed marginally lower by $1.50 at $1,836.10 per ounce. The decline comes after gold’s most active contract rose on Monday to its highest …
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11 May 2021 9:30 pm
European Stocks Bear Highest Loss of the Year
European stocks fell on Tuesday, after rising yesterday to a new record high, due to increased selling pressures amid fears of a rise in inflation and concerns about the rising number of coronavirus cases. The STOXX Europe 600 index plunged by 1.97%, as travel and leisure stocks fell by 5.7%. …
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11 May 2021 7:08 pm
U.S. Job Openings Surge in March
Job openings in the United States surged to a new record high in March, data by the U.S. Department of Labor showed on Tuesday. New job openings rose by 597,000, or 8%, to 8.12 million last month, compared with their level in February, according to the Job Openings and Labor …
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11 May 2021 5:02 pm
Commodity Gains Capped The Dollar Ahead of The Inflation Data, AUD at 2-Month High
The dollar stabilized near its lowest level in several months today, Tuesday, as high commodity prices supported the currencies of exporting countries, but caution about US inflation data that may lead to early interest rate hikes prevented the dollar’s decline. The Australian dollar moved at its highest level in two …
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11 May 2021 3:53 pm
OPEC Leaves Its Forecast For Oil Demand in 2021 as It Is!
In its latest monthly report, the Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth for 2021 unchanged at 5.95 million barrels per day, according to Reuters. While OPEC lowered its forecast for global oil demand in the second quarter of 2021 by 300 …
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11 May 2021 3:07 pm
German ZEW Economic Sentiment Index Jumps to 84 in May
The German ZEW headline numbers for May showed that the Economic Sentiment Index jumped to 84 from 70.7 previous. Meanwhile, the Current Conditions sub-index recovered to -40.1 in May as against -48.8 recorded in the previous month.
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