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Market Analysis

June, 2021

  • 18 June 2021 12:20 pm

    The US House of Representatives Voted to Repeal The President’s War Authorization

    The US House of Representatives on Thursday voted to repeal the president’s 2002 authorization for the use of military force that authorized the war in Iraq. As voting continued, the number of votes in favor of cancellation reached 265, against 162. Almost all Democrats support repealing the mandate, while most …

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  • 18 June 2021 3:09 am

    U.S. Plans Huge Investment in COVID Medicines

    The United States government on Thursday announced a plan to invest more than $3 billion in the research, development, and production of antiviral medicines that could be used to treat the novel coronavirus disease (COVID-19). The plan will reportedly be funded from the American Rescue Plan, which was proposed by …

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  • 18 June 2021 1:58 am

    USD Declines Against JPY Despite Rising Across the Board

    The U.S. Dollar (USD) declined against the Japanese Yen (JPY) on Thursday, despite rising against most of its major peers. The USD/JPY pair fell by 0.43% to 110.24, registering its biggest daily loss since June 4. The pair has now declined in two out of the past three sessions, and …

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  • 18 June 2021 1:25 am

    GBP Declines for Third Day in Row Against USD

    The British Pound (GBP) maintained its downwards trend against the U.S. Dollar (USD) for the third consecutive session on Thursday. A surprise hawkish change in tone by the U.S. Federal Reserve provided support for the greenback, while the Sterling remains impacted by uncertainty regarding easing lockdown measures in the U.K. …

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  • 18 June 2021 1:16 am

    EUR Extends Losses Against USD

    Eurozone

    The Euro (EUR) extended its losses against the U.S. Dollar (USD) on Thursday for the second consecutive day. This comes as the USD rose across the board following the U.S. Federal Reserve’s change in tone, expecting rising inflation and two rate hikes in 2023, sooner than previously expected. The EUR/USD …

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  • 18 June 2021 12:04 am

    Wall Street Closes Mixed as Nasdaq Finishes Higher

    The New York Stock Exchange (NYSE) showed a mixed performance on Thursday, with Wall Street investors reacting to the recent changes indicated in the U.S. Federal Reserve policy statement, from raising inflation forecasts to expecting two rate hikes in 2023. The Fed maintained the current main interest rate near 0% …

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  • 17 June 2021 11:09 pm

    Oil Plunges as USD Surges Following Fed’s Hawkish Tone

    Oil prices declined on Thursday, as the U.S. Dollar (USD) surged across the board after the Federal Reserve pointed to plans to raise interest rates sooner the previously expected, in a surprise change in tone. However, the drop in crude prices was relatively limited compared with other commodities amid expectations …

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  • 17 June 2021 9:58 pm

    Gold Drops as USD Surges Following Fed’s Change in Tone

    Gold prices declined on Thursday and registered their largest drop in about seven months due to the strong surge by the U.S. Dollar (USD). The yellow metal futures for June delivery lost $85.70, or 4.61%, to close at $1,773.80 per ounce, its lowest closing level for gold’s most active contract …

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  • 17 June 2021 8:25 pm

    European Stocks Close Mostly Lower

    European stocks closed lower on Thursday, with markets reacting to the relatively hawkish expressed by the U.S. Federal Reserve as it now expects to raise interest rates earlier than expected. The STOXX Europe 600 index declined by 0.12% to close at 459.33 points, after rising for nine consecutive sessions and …

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  • 17 June 2021 7:25 pm

    U.S. Natural Gas Storage Rises in Week

    Working natural gas in storage in the United States rose by 16 billion cubic feet (bcf) last week, according to estimates by the U.S. Energy Information Administration (EIA). The implied flow for the week is an increase of 67 bcf to working gas stocks, the weekly report indicated. The EIA …

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  • 17 June 2021 5:40 pm

    Canada: ADP Employment Change Arrives at +101.6K in May

    Private sector employment in Canada increased by 101,600 jobs from April to May, the ADP Research Institute revealed in its monthly report on Thursday. This reading followed the previous print of 101,300 (revised from 351,300).

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  • 17 June 2021 5:12 pm

    U.S: Weekly Initial Jobless Claims Rise to 412K

    There were 412,000 initial claims for unemployment benefits in the United States during the week ending June 12. The data published by the US Department of Labor showed on Thursday. This reading came in weaker than the market estimate of 359,000 and followed the previous print of 375,000.

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  • 17 June 2021 4:11 pm

    Gold tumbles under $1,800

    Gold tumbles under $1,800 in the wake of the hawkish Fed decision to be updated …

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