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Market Analysis

February, 2021

  • 16 February 2021 2:16 pm

    US Oil Prices Rising Due to Cold Weather in Texas and Brent is Stable

    Oil prices hovered today near a 13-month high on the back of sudden cold weather that caused the closure of wells in Texas, the largest oil producing state in the United States, while a wage deal in Norway avoided a supply disruption in Europe, curbing gains. Prices also increased with …

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  • 16 February 2021 1:32 pm

    Platinum Breathtaking After Reaching Its Highest Level in Six and a Half Years

    Platinum retreated from its highest level in nearly six and a half years, as prices reached a technical resistance level, but expectations that the global economic recovery would fuel demand kept the metal used to stimulate the auto sector supported above $ 1,300 an ounce. Platinum, which is used in …

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  • 16 February 2021 1:14 pm

    European Shares Hovering Near Year Highs and Mining Soar

    European stocks are hovering near their highest levels in a year today, Tuesday, as investors are hopeful about a massive US stimulus package that will lead the growth of the global economy, while Glencore topped mining shares higher after a positive update. The pan-European STOXX 600 index rose 0.2%, after …

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  • 16 February 2021 12:31 pm

    Japan Stocks Extend Gains to Close at The Highest Level in 30 Tears

    Japanese stocks rose to a 30-year high today, Tuesday, as progress in the distribution of anti-virus vaccines boosted expectations that the global economy is on the verge of a strong recovery. The benchmark Nikkei index rose 1.28% to 30,467.75, closing at its highest level since August 1990. The broader Topix …

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  • 16 February 2021 2:49 am

    Bitcoin Retreats from Record Highs

    The price of Bitcoin declined on Monday, after nearing $50,000 on Sunday, rising by 5% and reaching a new record high. The world’s largest cryptocurrency is down by 1.57% over the past 24 hours, reducing its gains over the past seven days to a little over 9%. Bitcoin recently received …

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  • 16 February 2021 2:42 am

    Oil Prices Surge as Winter Storms Hit North America

    Oil prices surged on Monday, as winter storms led to steep declines in temperatures across North America thus blasting demand for energy and heat. The global benchmark Brent crude futures rose by 1.4% to reach $63.30 per barrel, reaching their highest level since January 2020. Meanwhile, the U.S. West Texas …

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  • 16 February 2021 12:59 am

    Emerging Markets’ Currencies to Maintain Gains on Economic Growth: Report

    A recent report by Goldman Sachs Group highlighted the rise of emerging market currencies against the declining U.S. Dollar (USD) despite the recent surges in the United States Treasury yields. The MSCI Emerging Market Currency Index saw a series of gains recently, reaching a new record high last Friday as …

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  • 15 February 2021 11:20 pm

    GBP Scores Large Gains Against JPY

    The British Pound (GBP) extended its gains against the Japanese Yen (JPY) on Monday, amid a strong performance by the Sterling and the JPY seeing decreased demand as a safe haven amid increased risk appetite. The GBP/JPY has scored gains during each of the past four weeks, and today the …

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  • 15 February 2021 10:49 pm

    GBP/USD Sees Best Levels Since 2018

    The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) to its highest level in about three years. Gains by the Sterling Pound came amid the decline of the USD, as well as an improved sentiment in the United Kingdom (UK) that the rollout of Coronavirus vaccines will …

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  • 15 February 2021 9:24 pm

    European Stocks Near Highest Level in a Year

    European stocks closed higher on Monday, beginning the week with a positive performance on the back of an improved risk appetite and investors’ sentiment, with hopes for better vaccine rollouts and recovery from the coronavirus pandemic. The STOXX Europe 600 index finished the session higher by 1.3%, supported by the …

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  • 15 February 2021 9:12 pm

    U.S. Markets Closed for Presidents Day

    Markets in the United States are seeing a long weekend this week, with Monday being an official holiday in commemoration of Presidents Day. Presidents Day, celebrated every year in the third Monday of February, marks the birthday of George Washington, one of the founding fathers of the U.S. and its …

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  • 15 February 2021 7:21 pm

    USD Declines on Increased Risk Sentiment

    The U.S. Dollar (USD) declined on Monday, opening the week with a negative performance amid an improvement in risk appetite that drove investors towards other currencies. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is down by 0.14% at 90.36. Earlier …

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  • 15 February 2021 3:37 pm

    EU: Industrial Production in Euro Area Contracts by 1.6% in December

    The data published by the Eurostat showed on Monday that Industrial Production in the euro area contracted by 1.6% on a monthly basis in December. This reading followed November’s expansion of 2.6% and came in worse than the market expectation for a decrease of 0.6%. On a yearly basis, Industrial …

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