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Market Analysis

May, 2021

  • 27 May 2021 5:34 pm

    US: Weekly Initial Jobless Claims Retreat to 406K

    There were 406,000 initial claims for unemployment benefits in the US during the week ending May 22, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 425,000 and followed the previous print of 444,000.

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  • 27 May 2021 4:45 pm

    US: Durable Goods Orders Decline by 1.3% in April vs. +0.7% Expected

    Durable Goods Orders in the United States declined by 1.3%, or $3.2 billion, to $246.2 billion in April, the data published by the US Census Bureau revealed on Thursday. This reading came in worse than the market expectation for an increase of 0.7% and followed March’s print of +1.3% (revised …

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  • 27 May 2021 4:19 pm

    Gold Settles Below $ 1900 as Investors Await US Data

    Gold prices stabilized Thursday, May 27, below the psychologically important level of $1900 an ounce, after the dollar’s ​​rise limited gains as investors awaited US economic data that might provide clues about inflation and monetary policy. Spot gold fell 0.1% to $ 1895.10 an ounce, after hitting its highest level …

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  • 27 May 2021 3:13 pm

    Oil Prices Declining Due to Fears of a Possible Return of Iranian Supplies

    Oil prices fell on Thursday, May 27, but remained within their narrow range this week, as optimism about the summer driving season in the United States and Europe was met with concern about India’s demand and a possible increase in Iranian supplies. Brent crude was down 57 cents, equivalent to …

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  • 27 May 2021 1:53 pm

    The US Dollar Strengthening as Traders Await Indicators From The United States

    The US dollar received support Thursday, May 27th from a belief that the US Federal Reserve is slowly but steadily moving toward a discussion of monetary tightening, while the yuan hit its highest level in three years. Investors are sharply reducing their purchases of dollars, as they expect the trade …

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  • 27 May 2021 1:23 pm

    GFK Survey: German Consumer Sentiment Improved Less Than Expected

    A survey concluded that German consumer sentiment improved less than expected with the approach of June, as shopping activity remained cautious despite a decline in the rate of Covid-19 infections and an improvement in the growth outlook for Europe’s largest economy. The GFK said its consumer sentiment index, based on …

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  • 27 May 2021 12:46 pm

    European Stocks Hover Near Their Peak and HSBC is Falling

    There was little change in European stocks at the open Thursday, May 27, as losses in energy sector stocks were offset by gains in the mining sector, while Britain’s HSBC bank’s decision to exit US retail banking services was greeted with a tepid reception. The European Stoxx600 index settled at …

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  • 27 May 2021 12:20 pm

    Japan Stocks Tumble on Profit-Taking Selling And Pandemic Fears

    Japan

    Japanese stocks fell Thursday, May 27, as investors trimmed their positions after a recent increase, in light of a possible extension of emergency measures linked to Covid-19, which raised concerns about the growth of the local economy. The Nikkei index trimmed its losses during the day, closing down 0.33% to …

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  • 27 May 2021 9:30 am

    Yellen: Biden Budget to Raise Debt-to-GDP Ratio

    The proposed budget by the United States President Joe Biden will increase the ratio of the public debt to the gross domestic product (GDP), Secretary of the Treasury, Janet Yellen, said on Thursday. However, the budget will not add extra pressures on the inflation rate, Yellen noted. Speaking to a …

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  • 27 May 2021 4:04 am

    How is the Fed’s Balance Sheet Expected to Change in Coming Years?

    A recent report showed that the balance sheet of the United States Federal Reserve could peak by next year before declining and then stabilizing in three years. The Fed’s portfolio could reach $9 trillion by the end of 2022, according to recent estimates by the Federal Reserve Bank of New York. …

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  • 27 May 2021 2:09 am

    Wall Street Closes Higher as Risk Sentiment Improves

    The New York Stock Exchange (NYSE) finished mostly higher on Wednesday, as risk sentiment improves with recent remarks by the Federal Reserve officials easing inflation fears among Wall Street investors, especially in the absence of important economic data. The Dow Jones Industrial Average rose marginally by 10.6 points, or 0.03%, …

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  • 27 May 2021 1:30 am

    Oil Finishes Higher as U.S. Inventories Decline

    Oil prices rose on Wednesday, as markets continue to expect demand recovery during the second half of the year. In addition, a decline in crude oil inventories in the United States also provided support for oil futures. Brent crude futures for July delivery gained 22 cents, or 0.3%, to settle …

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  • 27 May 2021 1:00 am

    Gold Settles Higher and Exceeds $1,900 Resistance Level

    Gold prices rose on Wednesday, reaching a new level that is the highest in about five months, as markets continue to weigh reflation fears. The yellow metal’s gains came despite a rebound by the U.S. Dollar (USD), which probably limited today’s rise. Gold futures for June delivery rose by $3.20, …

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