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Market Analysis

June, 2021

  • 22 June 2021 12:25 pm

    Gold Rises Thanks to Weak Dollar Before Powell’s Testimony

    Gold rose today as the bullish trend of the US dollar stalled, which increased the attractiveness of the yellow metal ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress. Spot gold rose 0.3% to $1,787.80 an ounce), after rising 1% in the previous session. And the yellow metal rose …

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  • 22 June 2021 3:58 am

    Fed Officials Continue to Signal Tapering is Not Happening Soon

    The Chairman of the U.S. Federal Reserve, Jerome Powell, has on Monday expressed no intention to begin tapering very soon as the economy continues to recover from the Coronavirus pandemic. Powell reiterated the central bank’s commitment to supporting the economy during recovery, as he was speaking in front of the …

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  • 22 June 2021 3:41 am

    Fed’s Williams Expects 2% Inflation Next Year

    President of the Federal Reserve Bank of New York, John Williams, said that the Fed has set a slow start to easing its asset purchases. Speaking on Monday to a bankers event, Williams said he believes the U.S. economy is yet to achieve the substantial further progress needed to begin …

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  • 22 June 2021 1:50 am

    EUR/USD Recovers and Restores 1.1920 Level

    Eurozone

    The Euro (EUR) rose against the U.S. Dollar (USD) on Monday after falling for three consecutive sessions. Profit-making and uncertainty about the infrastructure spending plan are weighing on the USD, with markets still digesting the change in tone by the U.S. Federal Reserve. The EUR/USD pair gained 0.47% and reached …

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  • 22 June 2021 1:34 am

    GBP/USD Snaps Four-Session Losing Streak

    The British Pound (GBP) rose on Monday against a retreating U.S. Dollar, after declining for four consecutive sessions. Recent losses by the GBP/USD pair came mostly due to the surprising hawkish change in tone by the Federal Reserve, which prompted increased demand for the green back. In addition, uncertainty on …

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  • 22 June 2021 1:29 am

    USD/JPY Resumes Gains After Two Declines in Row

    The U.S. Dollar (USD) rebounded against the Japanese Yen (JPY) on Monday, after declining for two consecutive sessions. The USD/JPY pair registered a modest rise of 0.09%, reaching the level of 110.33. Month-to-date, the pair rose by about 0.68%, with its gains since the beginning of the year at 6.79%. …

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  • 22 June 2021 12:38 am

    Blend Labs Files for $100 M IPO

    Blend Labs has filed for an initial public offering (IPO) as it plans to sell $100 million worth of shares to publicly trade on the New York Stock Exchange (NYSE). The digital platform focuses on mortgage lending and other fintech services. The newcomer to Wall Street recorded a 90% rise …

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  • 22 June 2021 12:08 am

    NYSE Closes Monday with Large Gains

    The New York Stock Exchange (NYSE) closed higher on Monday, registering large gains in the first session of the week to recover some of the large losses it saw last week following the Fed’s policy statement, which indicated a hawkish change in tone. The Dow Jones Industrial Average gained 586.89 …

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  • 21 June 2021 11:03 pm

    Oil Finishes at Highest Levels since October 2018

    Oil prices surged on Monday, amid expectations that sanctions on Iran will continue following the recent presidential election. In addition, expectation for demand recovery in the second half of the year continue to provide support to crude prices. Brent crude futures for August delivery gained $1.39, or 1.89%, and closed …

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  • 21 June 2021 9:50 pm

    Gold Rebounds after Two Consecutive Declines

    Gold prices rose on Monday, recovering from its recent losses, following two daily losses and the worst weekly performance in about 15 months. A retreat by the U.S. Dollar (USD) provided support for the yellow metal. Gold futures for August delivery gained $13.90, or 0.79%, to close at $1,781.80 per …

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  • 21 June 2021 8:45 pm

    European Stocks Rebound from Earlier Losses to Close Higher

    European stocks closed higher on Monday, starting the week with a positive performance after rebounding from earlier losses. The STOXX Europe 600 index rose by 0.7% and closed at 455.23 points. Similarly, the STOXX 50 index finished higher by 0.71% at 4,112.33 points. The French CAC40 and the UK’s FTSE100 …

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  • 21 June 2021 7:16 pm

    Lagarde Says Pandemic Remains Risk but Expects Faster Recovery

    President of the European Central Bank (ECB), Christine Lagarde, believes that the coronavirus pandemic is still impacting the Eurozone. Speaking to the European Parliament on Monday, Lagarde expected a quick rebound in economic growth on the back of recovery in consumer spending, Reuters reported. “While on the downside, the spread …

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  • 21 June 2021 6:04 pm

    Wall Street Rebounds After Falling Due to The Fed

    Wall Street’s main indexes opened higher on Monday, as financial and energy stocks rebounded after hawkish comments from the Federal Reserve last week pushed the Dow and Standard & Poor’s 500 indexes to their biggest weekly losses in months. The Dow Jones Industrial Average rose 21.99 points, or 0.07%, to …

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