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Market Analysis

February, 2021

  • 12 February 2021 6:06 pm

    Canada: Wholesale Sales Decline by 1.3% in December

    Wholesale Sales in Canada fell by 1.3% in December to $66.5 billion, the monthly report published by Statistics Canada showed on Friday. This reading followed November’s increase of 0.7% and came in better than the market expectation for a decrease of 1.6%.

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  • 12 February 2021 5:24 pm

    Central Bank of Russia Leaves Policy Rate Unchanged at 4.25% in February

    Russia’s central bank announced on Friday left its policy rate unchanged at 4.25% as expected. The USD/RUB pair extended its daily rally after this announcement and was last seen gaining 1.03% on a daily basis at 74.3750.

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  • 12 February 2021 4:41 pm

    German Health Minister Says Border Closures “Unavoidable”

    German Health Minister Jens Spahn said that a ban on entry to travellers from the Czech Republic and the Austrian region of Tyrol, from February 14, is necessary to prevent the spread of new types of Coronavirus. “They are unavoidable for a certain period of time to prevent the spread …

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  • 12 February 2021 3:45 pm

    Bitcoin Clinging to Tesla Gains And US Dollar Heading For a Weekly Loss

    Bitcoin hovered near record highs on Friday, and is heading for gains of more than 20% in a historic week during which it saw the support of large companies like Elon Musk’s Tesla, while the weak US labor market continued to put pressure on the dollar. The most popular cryptocurrency …

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  • 12 February 2021 3:01 pm

    European shares Decline But ASML and ING Were Among The Winners in Early Trade

    European stocks are lower, but on track for gains for the second week in a row, as investors await more indications of progress in implementing US stimulus measures, while rising ASML and ING shares curbed the decline. The pan-European STOXX 600 index fell 0.1%, after gaining nearly 4% since the …

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  • 12 February 2021 2:06 pm

    The Turkish Current Account Deficit is $36.72 Billion in 2020

    Turkey’s central bank data showed on Friday that the country’s current account balance recorded a deficit of $36.72 billion last year, less than a Reuters poll forecast of a $39 billion deficit and compared to a $6.76 billion surplus the previous year. The data reveals that the deficit in December …

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  • 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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