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Market Analysis

March, 2021

  • 19 March 2021 10:38 pm

    U.S. Coal Exports Decline by 26% in 2020

    The United States coal exports declined by 26% to 69 million metric short tons (MMst) in 2020, from 93 MMst in 2019, according to recent data by the U.S. Energy Information Administration (EIA). Data also showed that four out of the top 10 U.S. coal exporters increased their imports in …

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  • 19 March 2021 10:20 pm

    Fitch Ratings Expects Roll Back of QE by Federal Reserve in 2022

    Fitch Ratings expects the United States Federal Reserve will begin next year reducing the quantitative easing (QE) measurements aimed at combating the negative economic impacts of the Coronavirus pandemic. The move could come in the form of decreasing asset purchases in 2022, which the ratings agency expects it will be …

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  • 19 March 2021 9:53 pm

    U.S. Oil Rigs See Largest Increase since January

    The number of active rigs drilling for crude oil and natural gas in the United States increased by nine rigs to 411 this week, weekly data by Baker Hughes showed on Friday. The increase in the rig count was entirely attributed to the increase in oil rigs to 318, while …

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  • 19 March 2021 8:44 pm

    Russia’s Central Bank Hikes Interest Rate to 4.5%

    The Central Bank of Russia on Friday decided to raise its main interest rate by 0.25% to 4.5%, due to the recent rise in inflation above the central bank’s forecasts. The bank’s policy statement noted that “domestic demand is recovering more steadily and faster than expected, outstripping the pace of …

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  • 19 March 2021 7:43 pm

    DXY Rises as Fed Allows Expiry of SLR Rule Changes

    The U.S. Dollar (USD) is showing a mostly positive performance on Friday, supported by the rise in Treasury bond yields and the Federal Reserve’s decision to end the temporary change to the supplementary leverage ratio (SLR) for depository institutions by the end of the month as scheduled. “The temporary change …

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  • 19 March 2021 6:43 pm

    S&P 500 and Dow Jones Retreat Amid Lower Financial Stocks

    The S&P 500 and the Dow Jones fell slightly at the opening trades on Friday, as financial stocks dropped after the US Federal Reserve’s decision to allow the exemption from some requirements related to bank debts to expire. The Dow Jones Index fell 3.9 points, or 0.01%, to 32,858.36. The …

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  • 19 March 2021 5:48 pm

    Canada: Retail Sales Decline by 1.1% in January vs. -3% Expected

    Retail Sales in Canada declined by 1.1% in January to $54.5 billion, the data published by Statistics Canada revealed on Friday. This reading followed December’s decrease of 3.4% and came in better than analysts’ estimate for a fall of 3%.

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  • 19 March 2021 5:44 pm

    Oil Prices Rise on Demand Concerns, Vaccination Slowing Down

    Oil prices increased by more than a dollar during the European session, after a major sell-off witnessed in the previous session, as a new wave of Coronavirus cases across Europe triggered general isolation measures and dampened hopes for an imminent oil demand recovery. Brent crude rose $ 1.01, or 1.6%, …

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  • 19 March 2021 5:44 pm

    US: Philadelphia Fed Manufacturing Index Jumps to 51.8 in March vs. 23.1 Expected

    The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey improved sharply to 51.8 in March from 23.1. This reading beat the market expectation of 23.1 by a wide margin.

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  • 19 March 2021 4:19 pm

    Germany’s Health Minister Warns Against Re-imposing Restrictions Amid The Surge in Coronavirus Cases

    A health official in Germany said today, Friday, that the number of Coronavirus cases is rising dramatically. Lars Shade, vice president of the Robert Koch Institute for Infectious Diseases, urged people not to travel during the Easter holidays to contain the increase in cases. Today’s data of the Robert Koch …

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  • 19 March 2021 4:05 pm

    Russia: OPEC+ Decision Supports The Budget Plan

    Today, the Russian Central Bank raised the main interest rate to 4.5% in light of inflationary risks and at the geopolitical level, and hinted that more will follow. The decision to raise interest rates, from a record low of 4.25 percent, contrasted with a Reuters poll that expected Russia to …

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  • 19 March 2021 3:31 pm

    Gold Gaining Ground on the Decline of The Dollar and US Bond Yields

    Gold is on the path of achieving its second consecutive weekly gain today, as it is supported by a slight decline in the dollar and US Treasury revenues. Spot gold rose 0.3% to $1740.99 an ounce. And the yellow metal is up more than 0.6 percent since the beginning of …

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  • 19 March 2021 2:49 pm

    UK Borrowed 19.1 billion Pounds in February

    Official data revealed today that the British government borrowed 19.1 billion pounds last month, less than the expectation in a poll conducted by Reuters to borrow 21 billion pounds (29.2 billion dollars), bringing borrowing in the first 11 months of the financial year to nearly 279 billion pounds.

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