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Market Analysis

June, 2021

  • 4 June 2021 11:28 pm

    Fed’s Powell: Climate Change Not Considered in Policy Setting

    The Chairman of the U.S. Federal Reserve, Jerome Powell, said on Friday that the central bank is not something that plays a major role in setting the central bank’s policy. “Today, climate change is not something that we directly consider in setting monetary policy.” “All of those things can affect …

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  • 4 June 2021 10:11 pm

    U.S. Rig Count Declines First Time in Six Weeks

    The number of active rigs drilling for crude oil and natural gas in the United States declined for the first time in six weeks, data showed on Friday. A decline by a single rig led the total rig count to reach 456 this week, with oil rigs maintaining their level …

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  • 4 June 2021 9:02 pm

    Canada’s Ivey PMI Rises in May

    The Canadian seasonally adjusted Ivey Purchasing Managers’ Index (PMI) increased in May to 64.7 from 60.6 in April, data showed on Friday. The employment index leveled up to 67.0 from 58.0, while the inventories index rose to 65.3 from 59.4 in the previous month. The supplier deliveries index fell to …

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  • 4 June 2021 7:21 pm

    U.S. Factory Orders Drop in April

    New U.S. factory orders declined by more than expected in April, falling by 0.6%, following a rise of 1.4% in March, amid the global shortage in semiconductors, data showed on Friday. On an annual basis, factory orders surged by 14.2%, according to the U.S. Department of Commerce. April’s reading of …

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  • 4 June 2021 5:35 pm

    EUR/USD Rebounds to 1.2160 on Soft NFP Figures

    Eurozone

    Buying interest around the EUR/USD subsides and is pushing the pair back into the 1.2160 region following the lower-than-expected US Non-Farm Payrolls report. The EUR/USD pair reversed the initial decline on Friday after data showed that the US economy created 559K jobs in May, below expectations of 650K jobs. At …

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  • 4 June 2021 4:43 pm

    Canada: Unemployment Rate Rises to 8.2% in May

    The Unemployment Rate in Canada edged higher to 8.2% in May from 8.1% in April with the Net Change in Employment falling by 68,000, compared to market expectation of -20,000, the data published by Statistics Canada showed on Friday.

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  • 4 June 2021 4:39 pm

    US Nonfarm Payrolls Rise by 559,000 in May

    the data published by the US Bureau of Labor Statistics showed on Friday that Nonfarm Payrolls (NFP) in the US rose by 559,000 in May. This reading followed April’s figure of 278,000 and came in worse than the market expectation of 650,000.

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  • 4 June 2021 4:22 pm

    A Representative of The Chinese Foreign Ministry: The United States Must Respect The Rule of Law

    A representative of the Chinese Foreign Ministry said that the United States should respect the rule of law and the market, correct its mistakes, and stop actions that undermine the global financial market system and the legitimate rights and interests of investors. The statement came after President Joe Biden on …

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  • 4 June 2021 3:29 pm

    Oil Advances Towards $72, Supported by Demand Expectations

    Oil rose towards $72 a barrel on Friday, June 4, to trade near its highest level in two years, as the OPEC+ plan on supplies and recovering demand overshadowed concerns about the irregular activity of vaccinations against Covid-19 globally. The Organization of the Petroleum Exporting Countries (OPEC) and its allies …

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  • 4 June 2021 2:38 pm

    Russia Expects The WHO to Approve The Sputnik V Vaccine Within Two Months

    Kirill Dmitriev, head of the Russian Direct Investment Fund, told Reuters that Russia expects WHO to approve the Sputnik-V vaccine against COVID-19 within two months. The Russian fund is responsible for marketing the vaccine. Dmitriev stated that the European Medicines Agency, which is also reviewing the Russian vaccine, “has obtained …

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  • 4 June 2021 2:18 pm

    Eurozone Retail Sales Fell More Than Expected in April

    Eurozone

    Data showed that retail sales in the euro area fell more than expected in April, affected by a decline in sales of non-food products, but it is still much higher than it was 12 months ago when most countries were subject to strict lockdown measures linked to the pandemic. The …

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  • 4 June 2021 1:39 pm

    Gold Hits a Two-Week Low Due to The Dollar’s Rise, With US Data Awaiting…

    Gold fell to its lowest level in more than two weeks Friday, June 4, weighed by a stronger dollar, while investors awaited the US non-farm payrolls data for May, as bets loomed on a possible scaling back of stimulus measures by the US Federal Reserve. And gold fell in spot …

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  • 4 June 2021 1:06 pm

    Oil Prices Are Falling as Pessimism About The Corona Virus Continues

    Oil prices fell on Friday, June 4, as optimism about a recovery in fuel demand waned, in light of concerns about the irregular delivery of Covid-19 vaccines globally. Brent crude fell 13 cents, or 0.2%, to $ 71.18 a barrel, after falling 4 cents yesterday, Thursday, after rising to its …

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