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Market Analysis

January, 2021

  • 28 January 2021 11:22 pm

    Gold Closes Lower for Sixth Day in Row

    Gold prices closed lower on Thursday, declining for the sixth consecutive session, recording its longest downward trend since early March 2019. The yellow metal futures rose earlier today on the back of the U.S. Dollar (USD) decline, before falling as U.S. Treasury yields rose. The decline also comes amid an …

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  • 28 January 2021 10:49 pm

    USD/JPY Retreats but Maintains Gains

    The U.S. Dollar (USD) rose on Thursday against the Japanese Yen (JPY), despite declining against other major currencies, amid an improved risk appetite and reduced demand for safe havens. The USD/JPY pair is trading higher for the day by 0.12% at 104.240. Earlier today, the pair traded as high as …

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  • 28 January 2021 10:26 pm

    European Stocks Recover From Earlier Losses to Finish Higher

    European stocks closed Thursday on a higher note, bouncing back from losses registered earlier in today’s session, on the back of positive financial disclosures and an improved risk appetite. The pan-European STOXX 600 index rose by 0.1%, after falling by as much as 2% earlier. The French benchmark index CAC40 …

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  • 28 January 2021 8:46 pm

    U.S. Dollar Declines Across the Board

    The U.S. Dollar (USD) returned to losses on Thursday, falling against major currencies, amid an improvement in risk appetite among investors. Markets seem to be absorbing the outcomes of the latest United States Federal Reserve policy statement, which included no changes to its current easing measurements to help the American …

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  • 28 January 2021 7:36 pm

    U.S. Natural Gas Storage Declines in Week: EIA

    Natural gas inventories in the United States decreased last week by 128 Bcf, according to estimates by the U.S. Energy Information Administration (EIA). Working natural gas in storage registered 2,881 Bcf as of Friday, January 22, 2021. On an annual basis, natural gas stockpiles rose by 78 Bcf, and are …

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  • 28 January 2021 7:21 pm

    U.S. New Home Sales Rise in December

    The sales of new single-family houses in the United States registered a seasonally adjusted annual rate of 842,000 during December 2020, initial data jointly-released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development showed on Thursday. The reading indicates a 1.6% rise compared with the …

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  • 28 January 2021 7:06 pm

    Building Permits in Canada Decline in December

    Canadian building permits declined in value by 4.1% during December, data by Statistics Canada showed on Thursday. The decline comes below market expectations of a 5% decrease. On an annual basis, building permits decreased to an unadjusted reading of 2.3% last year compared with 2019, but rose by 3.1% compared …

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  • 28 January 2021 6:33 pm

    Germany: Annual HICP Jumps to 1.6% in January

    Inflation in Germany, measured by the Consumer Price Index (CPI), came at 0.8% in January, according to the flash estimate of Destatison Thursday. Moreover, the annual CPI rose to 1% from -0.3% in December.

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  • 28 January 2021 6:04 pm

    US: Weekly Initial Jobless Claims Decline to 847K

    There were 847,000 initial claims for unemployment benefits in the US during the week ending January 23, the data published by the US Department of Labor showed on Thursday. This reading followed the previous print of 914,000 and came in better than the market estimates of 875,000.

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  • 28 January 2021 5:42 pm

    US economy expands by in 4% in Q4

    The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 4% in the fourth quarter, the US Bureau of Economic Analysis’ advance estimate showed on Thursday. This reading followed the 33.4% growth recorded in the third quarter and came in line with analysts’ estimates.

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  • 28 January 2021 5:13 pm

    When is the US GDP Report And How Could it Affect Major

    The most prominent event on the US calendar today is the fourth-quarter GDP report due out at 13:30 GMT. Economists are expecting the preliminary figure to show 3.9% year-on-year growth in the October-December period, which indicates growth losing momentum by a large margin compared to the strong recovery in Q4 …

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  • 28 January 2021 4:55 pm

    Iqbal: Turkey’s Economy Has Slowed After Its Strength in Last Quarter

    Al Naji Iqbal, Governor of the Turkish Central Bank, said that Turkey’s economic growth recorded a strong trend at the end of 2020, but it slowed according to recent indicators, partly due to the tightening of monetary policy that began in August and the slowdown in credit growth. In the …

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  • 28 January 2021 4:27 pm

    China Likely to Avoid Setting 2021 GDP Target

    China is reportedly said to abandon its GDP growth target for 2021, Reuters reports, citing sources familiar with the matter. A government adviser, one of three sources saying the target will again be scrapped, noted: “We will not set an explicit target, but in reality, there will be a target. …

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