French Health Minister Olivier Veran urged Sunday, July 4, as many French people as possible to get the Corona vaccine, warning that France may be heading towards a fourth wave of the epidemic by the end of this month due to the highly contagious delta strain. “For five days the …
Read More »Amazon Defies Tech Selloff as Prime Day Fuels Investor Confidence
As technology stocks continue to face heavy selling pressure on Wall Street, Amazon has emerged as a…
Gold Steadies After Three Straight Weekly Losses: PCE Above 4% and 63% September Hike Odds Keep Bullion Under Siege
Key Takeaways Gold finds tentative footing: Spot gold ticked up 0.3% to $4,036.88 per ounce, while g…
European Stocks Reverse Record Close as OpenAI IPO Delay, Apple Price Hikes, Hot U.S. CPI and Hormuz Attack Converge
Key Takeaways Record close reversed: The Stoxx 600 opened 0.4% lower the day after a record-setting …
Oil Heads for Third Straight Weekly Loss With 7% Drop: Iran Ship Attack Rattles Peace Deal but Market Momentum Stays Bearish
Key Takeaways Oil falls further: Brent dropped 1.4% to $74.19 per barrel, while WTI slipped 1.6% to …
Russia Expands Its Energy Reach as Asia Seeks New Oil Supplies
Russia is emerging as one of the biggest beneficiaries of recent disruptions in global energy market…
Goolsbee Warns Inflation Remains the Fed’s Biggest Challenge
A senior US central bank official cautioned that inflation remains the primary challenge facing poli…
Micron Ignites AI Rally as Wall Street Weighs Tech Winners and Losers
Wall Street experienced another volatile session as a powerful rally in Micron underscored the stren…
Tesla’s Next Steps May Hinge on Self-Driving Progress
Tesla has returned to the spotlight once again, not only because of a new government investigation i…
Wall Street Navigates Tech Turbulence as Airline Stocks Soar on Lower Oil Prices
US stock markets experienced a mixed session as weakness among major technology companies offset gai…
Gold Rebounds Above $4,000 as Investors Reassess PCE and Global Risks
Gold prices moved higher after suffering one of their sharpest declines in months, helping the preci…
Market Analysis
July, 2021
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4 July 2021 11:35 pm
Market Recap: June 28 – July 2
Many markets around the globe are lifting lockdowns and preventive measures against the coronavirus (COVID-19), but the global pandemic continues to raise uncertainty after the recent increase in the number of new cases infected with the Delta variant. Some vaccines are reportedly effective against the variant, including J&J and Moderna, …
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3 July 2021 3:44 am
Fed’s Daly Expects Tapering in Late 2021 or Early 2022
The President of the Federal Reserve Bank of San Francisco, Mary Daly, expects the Federal Reserve will begin tapering before the end of 2021, since the economy is really shaping up nicely. Speaking to the Associated Press on Friday, Daily said that “it is appropriate to consider tapering asset purchases …
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3 July 2021 12:39 am
Oil Closes Mixed but Maintains Weekly Gains
Oil prices showed a mixed performance on Friday, amid with markets awaiting the outcomes of the OPEC+ summit. The OPEC+ alliance could not agree on Friday on a decision regarding output policy for August and beyond. Discussions are expected to resume on Monday, according to recent media reports. Brent crude …
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2 July 2021 11:31 pm
Gold Maintains Gains for Second Straight Week
Gold maintained a positive performance for the third session in a row on Friday to finish the week on a rise for the second consecutive week. The yellow metal futures for August delivery gained $5.60, or 0.38%, to finish at $1,783.30 per ounce, its highest since June 23. Gold gained …
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2 July 2021 10:43 pm
Reports Show Improved Growth Forecasts for U.S. Economy
The United States economy is expected to achieve a better than previously expected growth this year, as shown by the most recent forecasts. Containing the coronavirus pandemic with the rollout of vaccines, reopening business, demand recovery helped by the massive stimulus and support measures are providing the base for recovery …
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2 July 2021 10:00 pm
European Stocks Narrow Weekly Losses
European stocks closed higher on Friday for the second consecutive session, supported by a positive performance by leisure and travel stocks, despite losses by the banking stocks, which limited gained amid concerns about the Delta variant of the Coronavirus. The STOXX Europe 600 Index gained 1.18 points or 0.26% and …
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2 July 2021 9:20 pm
USD/CAD Drops Following Slew of Economic Data
The U.S. Dollar (USD) dropped against its Canadian counterpart (CAD), sliding into the negative territory with the beginning of the American session, after moving earlier in a relatively tight range around its highest level in about two weeks near 1.24. The greenback has declined across the board following the release …
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2 July 2021 7:48 pm
U.S. Factory Orders Rebound in May
New factory orders in the United States rebounded in May, following a decline that exceeded expectations in April, data showed on Friday. Factory orders increased by 1.7%, following a 0.1% decline in April, according to the U.S. Department of Commerce. On an annual basis, factory orders surged by 17.2% compared …
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2 July 2021 6:07 pm
Canada: Markit Manufacturing PMI Decline to 56.5 in June
The business activity in Canada’s manufacturing sector continued to expand in June, albeit at a softer pace than it did in June, with the Markit Manufacturing PMI edging lower to 56.5 from 57 in May.
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2 July 2021 5:43 pm
Canada: International Trade Deficit of C$1.4B in May
Canada’s international merchandise trade deficit came in at C$1.4 billion in May as data published by Statistics Canada showed on Friday, worse than market expectations of C$0.37 billion. “In May, Canada’s merchandise imports increased 2.1%, while exports fell 1.6%,” the publication read. “In May, the average value of the Canadian …
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2 July 2021 5:15 pm
BofA: Liquidity Continues to Flow Into Stocks And Bonds
The latest statistics from Bank of America fund flows showed that investors continued to pour more liquidity into bonds and stocks, as Wall Street hit a new record high and US government bond yields remained below 1.5%. The US investment bank said, based on data from IBFR, that fixed income …
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2 July 2021 4:32 pm
US Nonfarm Payrolls Surge by 850,000 in June
Nonfarm Payrolls (NFP) in the US rose by 850,000 in June, the data published by the US Bureau of Labor Statistics (BoL) showed on Friday. This reading followed May’s print of 583,000 (revised from 559,000) and came in better than the market expectation of 700,000.
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