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Market Analysis

April, 2021

  • 3 April 2021 3:06 am

    Bitcoin Record-Breaking Surge Increases Demand for Digital Yuan

    The recent surges in the price of Bitcoin has spurred increased demand for the Chinese digital Yuan, according to the Chinese central bank, CNBC reported. Many central banks around the world are contemplating the idea of issuing a digital version of their currencies amid an increased demand for digital and …

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  • 2 April 2021 8:32 pm

    DXY Maintaining Marginal Rise

    The U.S. Dollar (USD) is showing a fluctuating performance on Friday, which is an official holiday for markets in the United States as it coincides with Good Friday. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.09% at …

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  • 2 April 2021 7:17 pm

    U.S. Unemployment Rate Declines to 6% in March

    The Unemployment rate in the United States declined to 6% in March, from 6.2% in February, after the economy added 916,000 jobs last month, according to data by the U.S. Bureau of Labor Statistics. Taking into account those who are classified as employed but are absent from work, the unemployment …

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  • 2 April 2021 5:26 pm

    US Average Hourly Income Declines in March

    The average per capita hourly income of all employees in the private non-farm sector in the United States decreased by 4 cents, or 0.1%, over the month to $29.96 in March of 2021, after an upwardly revised 0.3% increase in February, and against expectations. The market gained 0.1%. This is …

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  • 2 April 2021 4:46 pm

    US Nonfarm Payrolls Surge by 916,000 in March

    Nonfarm Payrolls (NFP) in the US rose by 916,000 in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed February’s increase of 468,000 (revised from 379,000) and came in much better than the market expectation of 647,000.

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  • 2 April 2021 4:24 pm

    Car Sales in Turkey Rose 93% Year-on-Year in March

    Turkey’s Auto Distributors Association said sales of passenger cars and light commercial vehicles in the country rose 92.8% year on year in March to 96,428 units. The association added that from January to March, sales increased 59.7% year on year. Errol Shaheen, director at EBS auto marketing consultancy, said the …

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  • 2 April 2021 3:18 pm

    Italy Posted a Deficit of 5.2% of GDP in Q4

    The Italian National Institute of Statistics said that Italy’s budget balance has shifted to recording a deficit of 5.2% of GDP in the Q4 of last year, compared to a surplus of 1.9% in the same period of 2019. The institute stated that over the whole year, the deficit recorded …

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  • 2 April 2021 2:37 pm

    Russian Ruble Rises 0.3% Against US Dollar After OPEC+ Decision

    Russia

    The Russian ruble rose to 76 against the dollar in tepid trading on Friday, recovering from its lowest level in a week reached the previous day, after the OPEC+ group, which includes the world’s major oil producers, agreed to ease production cuts. The ruble rose 0.3% against the dollar to …

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  • 2 April 2021 1:39 pm

    Bloomberg – Russian Oil Production Rises in March

    Russia’s output of crude and condensate rose to 43.34 million tons in March, thanks to the more generous OPEC and its allies (OPEC+) quota, Bloomberg reports, citing preliminary data from the Energy Ministry’s CDU-TEK unit.

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  • 2 April 2021 12:59 pm

    Pfizer&BionTech: Our Vaccine is 91% Effective And Provides Protection Against The South African Strain

    Pfizer and BionTech said their COVID-19 vaccine is 91% effective in preventing the disease, according to new trial data that included participants who were vaccinated up to six months ago. The vaccine was 100% effective in preventing the disease among the participants in the trial in South Africa, where a …

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  • 2 April 2021 12:30 pm

    The Rise in The Turkish Lira After The Central Bank Pledged to Tighten Monetary Policy

    The Turkish lira rose more than 1% against the dollar on Friday, supported by a drop in US bond yields, a day after the new central bank governor pledged that tight monetary policy would remain as it was. The pound rose to 7.9890 against the dollar, from 8.1 at the …

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  • 2 April 2021 11:31 am

    Japan’s Nikkei Hits a Two-Week High on Hopes of a Recovery in Corporate Earnings

    Japan

    Japanese shares closed higher on Friday, while the Nikkei index reached a two-week high, on hopes of recovering corporate earnings and gains in semiconductor stocks as companies appear to be ramping up production to address a global chip shortage. The Nikkei rose 1.58% to close at 29,854 points. The broader …

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  • 2 April 2021 11:00 am

    Russia’s Oil Production Rose in March, Following a drop in February

    Russia’s production of oil and gas condensate rose to 10.25 million barrels per day in March from 10.1 million barrels per day in February, according to Reuters calculations based on a report by the Interfax news agency based on data from the Energy Ministry on Friday. The recovery of Russian …

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