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Market Analysis

June, 2021

  • 22 June 2021 11:57 pm

    Oil Retreats from Year Highs to Close Lower

    Oil prices declined on Tuesday, after rising for two consecutive days, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies might be raising production starting next August. Media reports pointed to discussions about more reductions into the current output cuts to raise production levels. …

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  • 22 June 2021 11:46 pm

    Gold Logs Another Loss to Close Below $1,800

    Gold prices declined on Tuesday for the sixth time in eight sessions, as the U.S. Dollar (USD) rose against major currencies. Gold futures for August delivery finished lower by $5.50, or 0.31%, at $1,776.30 per ounce. The yellow metal’s most active contract has extended its losses month-to-date to 6.63%. Gold …

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  • 22 June 2021 11:25 pm

    European Stocks Close Higher

    European stocks closed higher on Tuesday, with a rebound in commodity prices providing support for the mining and energy sectors. The pan-European STOXX 600 Index gained 0.26% and closed at 456.42 points. Similarly, the blue-chip STOXX 50 index finished higher by 0.26% at 4,123.13. Meanwhile, the UK’s FTSE100 ended the …

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  • 22 June 2021 11:09 pm

    Bitcoin Rebounds Near $33,000 Level

    Bitcoin is showing recovery from a string of losses, which brought the world’s largest cryptocurrency below $30,000 for the first time in five months. However, the digital currency managed to flip the decline to rise by a little over 1% and reach a level above $33,100. Now, the cryptocurrency is …

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  • 22 June 2021 10:54 pm

    Eurozone Consumer Confidence Improves in June

    Eurozone

    Eurozone consumer confidence improved by 1.8 points in June compared with its previous monthly reading, according to data the European Commission released on Tuesday. A flash estimate of the consumer sentiment in the European bloc recorded -3.3 this month from -5.1 in May. On the broader level, consumer confidence across …

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  • 22 June 2021 10:48 pm

    Richmond Fed Manufacturing Index Continues to Expand

    Manufacturing activity in the U.S. continued to show signs of improvement this month, as shown by survey data by the Federal Reserve Bank of Richmond on Tuesday. The Fifth District Survey of Manufacturing Activity’s Composite Index rose from 18 in May to 22 in June, maintaining a positive performance since …

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  • 22 June 2021 10:42 pm

    Fed’s Powell Tells Congress Inflation Will Ease Over Time

    U.S. Federal Reserve Chairman Jerome Powell told lawmakers on Tuesday that the economy has notably improved amid recovery from the Coronavirus pandemic and that inflation will ease over time following the recent surge. Testifying for the second consecutive day before the House of Representatives Select Subcommittee on the Coronavirus Crisis, …

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  • 22 June 2021 6:20 pm

    U.S. Home Sales Drop for Fourth Month in Row

    Home sales in the United States continued to decline for the fourth consecutive month during May, data showed on Tuesday. Existing home sales fell by 0.9% last month to a seasonally adjusted annual rate of 5.80 million units, according to the National Association of Realtors. Resale activity soared by 44.6% …

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  • 22 June 2021 5:57 pm

    Switzerland: Current Account Surplus Widens in The First Quarter of 2021

    The Swiss National Bank announced today, Tuesday, that Switzerland achieved a current account surplus of 16 billion Swiss francs (17.40 billion dollars) in the first quarter of 2021, 6 billion francs more than it was in the previous quarter. The weakness of the Swiss franc against the dollar since the …

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  • 22 June 2021 5:02 pm

    U.S: Philly Fed Nonmanufacturing Index Improves in June

    The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved decisively to 59.6 in June from 36.9 in May.

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  • 22 June 2021 4:42 pm

    Bitcoin Plunges Below $30,000, Its Lowest Since Late January

    Bitcoin plunged 5.8% during the session, reaching its lowest level since late January to below $30,000 Cryptocurrency bitcoin plunged below $30,000 for the first time in nearly five months, weighed down by China’s recent crackdown on cryptocurrencies. The world’s largest cryptocurrency fell 6.4% to $29,614, its lowest since Jan. 27. …

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  • 22 June 2021 3:31 pm

    Two Sources to Reuters: OPEC+ is Considering a Gradual Increase in Production From August

    OPEC

    Two sources with Reuters knowledge of the OPEC + group talks today, Tuesday, said that the group is considering another gradual increase in oil production from August as oil prices rise thanks to the recovery in demand, but it has not yet made a decision on the exact size. The …

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  • 22 June 2021 3:00 pm

    Bitcoin Makes up For Some of Its Losses in Asia

    Bitcoin recouped some of its losses on Tuesday, a day after hitting a two-week low after the People’s Bank of China (the central bank) confirmed its crackdown on cryptocurrencies in the country and its restriction of its circulation channels among the population. The world’s largest cryptocurrency was last up 3% …

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