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Market Analysis

July, 2021

  • 16 July 2021 3:07 pm

    Oil Rising But Heading For The Largest Weekly loss in Months

    Oil prices rose on Friday but were still heading for their biggest weekly decline since at least May, as expectations of increased supplies spooked investors. Brent crude rose 37 cents, or 0.5%, to $73.84 a barrel, and is set to lose 2.3% this week, the biggest weekly decline since May. …

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  • 16 July 2021 2:46 pm

    Eurozone Inflation Easing Confirmed

    Official data on Friday confirmed a slowdown in eurozone inflation in June after a steady acceleration in the first months of 2021, while the bloc’s trade surplus narrowed in May due to a decline in exports. The European Union statistics office Eurostat said consumer prices in the 19-nation currency bloc …

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  • 16 July 2021 2:03 pm

    Turkish Lira at a Month High as Interest Rate Cut Fears Recede

    The Turkish lira rose to its highest level in a month on Friday, buoyed by fading fears of an imminent interest rate cut as well as increasing optimism over emerging market currencies. The lira rose 0.6% to 8.5 per dollar, extending its recovery from a record low of 8.88 in …

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  • 16 July 2021 1:20 pm

    Gold Heading For The Fourth Weekly Gain, With Fed Sticking to Easing Tone

    Gold prices fell on Friday, July 16, but remained on track to achieve gains for the fourth consecutive week, supported by the confirmation of the US Federal Reserve Chairman to stick to the accommodative monetary policy of the economic recovery. And the price of gold in spot transactions fell 0.3% …

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  • 16 July 2021 12:37 pm

    The Recovery of The Travel Sector Lifts European Stock Indices

    European shares rose on Friday, July 16, after travel stocks rebounded, following sharp losses earlier in the week, while a slew of positive business results overshadowed concerns about the rising delta strain cases on the continent. The European STOXX 600 index rose 0.3%, making it destined to end the week …

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  • 16 July 2021 12:01 pm

    Oil Heads For Biggest Weekly Loss Since May

    Oil prices fell Friday, July 16, heading for their biggest weekly drop since at least May. Expectations of an increase in supply raised investor concerns, as OPEC is likely to raise production in line with a possible recovery in demand as more countries recover from the Covid-19 pandemic. The price …

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  • 16 July 2021 4:02 am

    Yellen Believes Inflation Will Eventually East in Months

    The U.S. Treasury Secretary, Janet Yellen, is worried about housing costs, expecting high inflation to remain for several months before easing. The housing market remains in a better position compared to the time prior to the 2008 market crash, Yellen told CNBC “It’s a very different phenomenon but I do worry …

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  • 16 July 2021 3:54 am

    U.S. Business Applications Decline in June

    New business applications in the United States decreased by 9.8% to a seasonally adjusted 448,553 in June, official data showed on Thursday. This marked the first time for applications to start a new business in the U.S. to decline since February. A seasonally adjusted 51,543 applications were received from corporations, …

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  • 16 July 2021 3:29 am

    Powell Tells Senate High Inflation is Temporary

    The Federal Reserve Chairman Jerome Powell has defended on Thursday the efforts by the central bank to support the U.S. economy amid recovery from the coronavirus pandemic, despite the recent surge in inflation. After speaking to the House Financial Services Committee Wednesday, today Powell spoke to the Senate Banking Committee. …

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  • 16 July 2021 12:50 am

    Oil Closes Lower for Second Straight Day

    Oil prices finished lower on Thursday, maintaining a downward trend for the second consecutive session, amid uncertainty about production levels. Yesterday, media reports suggested that the OPEC+ alliance has reached an initial agreement to extend the current output cuts until 2022, with a gradual easing in the curbs in line …

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  • 15 July 2021 11:55 pm

    USD Rebounds From Session Lows

    The U.S. Dollar (USD) rose on Thursday, supported by the drop in weekly jobless claims and the testimony of the Federal Reserve Chair before Congress, in which expressed the central bank’s patience in dealing with the rising inflation. Unemployment benefits data showed that the labor market continues to show recovery …

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  • 15 July 2021 11:14 pm

    Gold Closes Lower as Inflation Concerns Ease

    Gold prices finished lower on Thursday after recent remarks by the Federal Reserve Chair Jerome Powell eased concerns about the rising inflation a sudden change in monetary policy. The yellow metal’s decline comes a day after finishing at its highest level in about a month. Gold futures for August delivery …

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  • 15 July 2021 10:40 pm

    European Stocks Log Biggest Loss in Week

    European stocks finished lower on Thursday, with the energy sector leading the losses due to the drop in crude oil prices. The STOXX Europe 600 index closed lower by about 1%, logging its biggest decline and its lowest closing level since July 8, at 456.20 points. Oil and gas stocks …

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