The Turkish lira rose more than 1% against the dollar on Friday, supported by a drop in US bond yields, a day after the new central bank governor pledged that tight monetary policy would remain as it was. The pound rose to 7.9890 against the dollar, from 8.1 at the …
Read More »Gold Attempts to Glitter as Dollar Weakens
Gold prices climbed above the $4,600 mark, extending gains as Japan’s intervention in currency marke…
A Landmark Trade Gesture: China Expands Zero-Tariff Access for Africa
China has announced it will scrap tariffs for nearly all African countries, extending duty-free acce…
Trump Targets EU Autos with 25% Tariff Shock
President Donald Trump announced he will raise tariffs on cars and trucks imported from the European…
Only Slight Advance: Trade Threats and War Headlines Keep Greenback in Retreat
The US Dollar managed a modest bounce on Friday after sliding to its lowest point in two weeks, but …
Trump Rejects Iran’s Peace Proposal, Warns of Escalation
Hopes for a breakthrough in the war between the United States and Iran dimmed on Friday as President…
Spirit Airlines Faces Final Descent as Rescue Plan Collapses
Spirit Airlines, long known for its ultra-low-cost fares, is preparing to shut down operations after…
Euro Climbs as Dollar Falters Under Geopolitical Pressure and Market Surprises
The euro extended its upward momentum against the US dollar, climbing to its highest levels in over …
Yen Holds Steady After Tokyo’s Bold Intervention
The Japanese yen found stability after authorities stepped in to halt its rapid decline against the …
Mid-East War Hits Exxon Mobil and Chevron Profits as Supply Lines Clog
Despite soaring oil prices triggered by the ongoing war in Iran, American energy giants Exxon Mobil …
Bitcoin Bounces Back Above $77K: Wall Street Records and Apple’s Stellar Earnings Reignite Crypto Rally
Key Takeaways Bitcoin rebounds: The world’s largest cryptocurrency rose 1.8% to $77,143 after …
Market Analysis
April, 2021
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2 April 2021 12:30 pm
The Rise in The Turkish Lira After The Central Bank Pledged to Tighten Monetary Policy
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2 April 2021 11:31 am
Japan’s Nikkei Hits a Two-Week High on Hopes of a Recovery in Corporate Earnings
Japanese shares closed higher on Friday, while the Nikkei index reached a two-week high, on hopes of recovering corporate earnings and gains in semiconductor stocks as companies appear to be ramping up production to address a global chip shortage. The Nikkei rose 1.58% to close at 29,854 points. The broader …
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2 April 2021 11:00 am
Russia’s Oil Production Rose in March, Following a drop in February
Russia’s production of oil and gas condensate rose to 10.25 million barrels per day in March from 10.1 million barrels per day in February, according to Reuters calculations based on a report by the Interfax news agency based on data from the Energy Ministry on Friday. The recovery of Russian …
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2 April 2021 10:36 am
Oil Prices jump by 3% Despite OPEC+ Decision to Gradually Increase Production
Oil prices jumped more than 3% Thursday after OPEC+ reached an agreement to gradually ease production restrictions from May. Brent crude rose $ 1.94, or 3.1 percent, to $ 64.68 a barrel. U.S. crude rose $ 2.10, or 3.6 percent, to $ 61.26 a barrel. OPEC +, which includes the …
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2 April 2021 1:20 am
OPEC+ Agree on Gradually Easing Output Cuts
The OPEC+ alliance, consisting of the Organization of the Petroleum Exporting Countries (OPEC) and other major crude oil producers, has decided to ease output curbs by gradually increase production over the course of the upcoming three months. According to media reports, the move comes as the United States has called …
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2 April 2021 1:00 am
Wall Street Finish Higher on Positive Economic Data
The New York Stock Exchange (NYSE) closed higher on Thursday, supported by a positive sentiment and economic data that showed a healthy performance by the manufacturing sector. Accordingly, the S&P 500 index closed at a new all-time high, despite a rise in jobless claims in the U.S. The Dow Jones …
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1 April 2021 11:59 pm
Oil Scores Large Gains Following OPEC+ Decision
Oil prices rose on Thursday after the OPEC+ alliance opted not gradually ease output cuts, which means that no sudden disruptions will hit the market. Recently, there have been concerns about the recovery of the global demand for oil, however, with the recent OPEC decision the gradual increase come in …
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1 April 2021 11:00 pm
Gold Futures Rise but Finish Q1 Down 10%
Gold prices rose on Thursday for the second consecutive sessions, amid a decline by the U.S. Dollar (USD) after data showed a surge in jobless claims in the United States. The yellow metal futures for June delivery rose by $12.80, or 0.8%, to close at 1,728.40 per ounce. During the …
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1 April 2021 10:00 pm
U.S. Oil Rigs Rise by 13 in Week
Active rigs drilling for crude oil in the United States increased by 13 to a total of 337 this week, data by Baker Hughes showed on Thursday. The total number of rigs drilling for both crude oil and natural gas increased by 13 to 430, as the number of natural …
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1 April 2021 9:38 pm
European Stocks Close Higher Following Positive PMI Reading
European stocks finished higher on Thursday, supported by an improved investors’ sentiment following the release of positive economic data. The STOXX Europe 600 index finished higher by 0.67% at 432.49 points, on the back of a 2% rise by the technology sector. Earlier today, data showed that the manufacturing activity …
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1 April 2021 9:32 pm
USD Declines Following Rise in Unemployment Claims
The U.S. Dollar (USD) declines across the board on Thursday, after data showed a rise in jobless claims in the United States, prompting concerns about the pace of economic recovery from the impacts of the Coronavirus pandemic. The Dollar Index (DXY), which measures the greenback’s performance against a basket of …
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1 April 2021 7:12 pm
U.S. Natural Gas Inventories Down 14 bcf in Week
Natural gas inventories in the United States increased by 14 billion cubic feet (bcf) last week, according to data by the U.S. Energy Information Administration (EIA). The EIA weekly report showed on Thursday that natural gas supplies reached 1.764 trillion cubic feet, decreasing by 225 bcf compared with the same …
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1 April 2021 6:09 pm
ISM US Manufacturing PMI Jumps in March
The business activity in the US manufacturing sector grew at its strongest pace since 1983 with the ISM Manufacturing PMI rising to 64.7 in March from 60.8. This reading came in better than the market expectation of 61.3.
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