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Market Analysis

February, 2021

  • 12 February 2021 1:42 pm

    Gold is Declining on Rising in Dollar But Still Heading Towards The Best Week in 3 Weeks

    Gold retreated as the dollar and Treasury yields rose, but prices are on the path to achieving the best weekly performance in three weeks, as hopes for more US stimulus support the yellow metal. And gold fell in immediate transactions 0.2% to 1822.69 dollars an ounce. Prices have risen 0.6% …

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  • 12 February 2021 1:03 pm

    Oil Losing More Momentum After OPEC Cuts Demand Forecast

    Oil prices fell for a second session today, Friday, to fall further from its highest level in a year after OPEC cut its demand forecast again, and the International Energy Agency said the market was still experiencing a surplus in supplies. Brent crude fell 39 cents, or 0.6%, to $ …

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  • 12 February 2021 12:28 pm

    Nikkei Drops From 30-year Peak on Profit-Taking, Toyota Stocks and Chips Soar

    Japan

    The Nikkei index of Japanese stocks ended a four-session rise on Friday, falling from its highest level in more than 30 years, which it reached in the previous session, as investors sold shares to take profits, but gains in Toyota Motor shares and chip-related companies restrained losses. The Nikkei index …

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  • 12 February 2021 2:10 am

    Nasdaq and S&P 500 Close at New Record Highs

    The main indices of the New York Stock Exchange (NYSE) closed mostly higher on Thursday, supported by an improved investors’ sentiment and strong gains by the technology sector, with S&P 500 and Nasdaq closing at new record highs. The Dow Jones Industrial Average declined marginally by 0.02% and closed nearly …

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  • 12 February 2021 12:38 am

    Oil Futures End Gains Rally and Close Lower

    Oil prices declined on Thursday, ending its best rising-streak in about two years, amid concerns about the recovery of the global demand this year. Earlier today, the Organization of the Petroleum Exporting Countries (OPEC) revised down its expectations for the global demand for crude oil to rise by 5.8 million …

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  • 12 February 2021 12:33 am

    AUD Maintains Strong Gains Against USD

    The Australian Dollar (AUD) is showing a positive performance on Thursday against the U.S. Dollar (USD), supported by the decline of the greenback. Earlier today, the AUD/USD pair rose to its best level in about three weeks. The pair is currently trading higher for the day by 0.43% at 0.7755. …

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  • 12 February 2021 12:28 am

    Draghi Edges Closer to Leading New Italian Government

    Former President of the European Central Bank (ECB) Mario Draghi, who was recently named as Prime Minister to form a new technocratic government in Italy has gained the support of a major party, moving a step closer to forming his cabinet. On Thursday, the majority of the members of the …

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  • 11 February 2021 11:48 pm

    Bitcoin Maintains Large Gains Near $48,000

    Bitcoin surged on Thursday to a new all-time high, supported by increased demand from institutional investors. The world’s largest cryptocurrency rose earlier today above the $48,000 level for the very first time, setting a new record near $48,300. Now, the digital currency is trading at $47,933, up by about 6.4% …

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  • 11 February 2021 11:29 pm

    European Stocks Return to Gains

    European stocks closed Thursday in gains, recovering from yesterday’s losses, as investors are digesting the financial results for a number of listed companies amid the earning reports season. The STOXX Europe 600 index finished higher by 0.5%, with most sectors, led by tech, closing in the positive territory. The German …

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  • 11 February 2021 11:25 pm

    Gold Declines for First Time in Five Sessions

    Gold prices declined on Thursday, following four consecutive daily rises, as the United States Treasury yields rose following the decline in jobless claims in the U.S. The decline of the yellow metal comes as the U.S. Dollar (USD) has been fluctuating in a tight range today. Gold futures for April delivery dropped …

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  • 11 February 2021 11:08 pm

    OPEC Revises Its Demand Forecasts for 2021

    The Organization of the Petroleum Exporting Countries (OPEC) is expecting the global demand for crude oil to rise by 5.8 million barrels per day (b/d) in 2021, decreasing its previous expectations by about 100,000 b/d. Extended lockdowns and the re-introduction of partial lockdowns in a number of countries has resulted …

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  • 11 February 2021 8:47 pm

    U.S. Natural Gas Inventories Down 171 BCF

    Natural gas inventories in the United States decreased by 171 billion cubic feet (Bcf) during the week ended February 5, according to data by the U.S. Energy Information Administration (EIA) on Thursday. The total amount of natural gas stockpiles currently stands at 2.518 trillion cubic feet (Tcf), declining by 9 …

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  • 11 February 2021 7:36 pm

    USD Flat After Jobless Claims Data

    The U.S. Dollar (USD) remained mostly flat on Thursday, following the release of official data that showed a decline in the number of initial claims for unemployment benefits in the United States. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is …

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