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Market Analysis

January, 2021

  • 27 January 2021 10:59 pm

    Nokia Does Not Know Why Its Share is Surging

    Nokia disclosed in an official statement on Wednesday that it is not aware of the exact reason behind the recent surge in its share price, Reuters reported. The Finland-based technology giant saw its share price rise by an astonishing 41% on Wednesday. “Nokia is not aware of any material, undisclosed …

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  • 27 January 2021 9:24 pm

    USD/CAD Maintains Some Gains Ahead of Fed Decision

    The U.S. Dollar (USD) is maintaining its gains against the Canadian Dollar (CAD) on Wednesday, despite the latter being supported by a rise in oil prices on the back of a large drop in crude stockpiles in the United States. The USD/CAD pair is up for the day by 0.55% …

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  • 27 January 2021 9:20 pm

    U.S. Crude Oil Inventories Show Surprise Drop

    Crude oil inventories in the United States declined more than expected last week, the weekly report by the U.S. Energy Information Adminstration (EIA) showed on Wednesday. Oil stockpiles in the U.S. fell by 9.91 million barrels, against market expectations of a 400,000-barrel increase. Gasoline inventories increased by 2.47 million barrels …

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  • 27 January 2021 8:37 pm

    European Stocks Decline Ahead of Fed Decision

    European stocks declined on Wednesday, amid reduced risk appetite among investors in anticipation of the United States Federal Reserve policy decision. The pan-European STOXX 600 index fell by 1.20%, with the telecom sector leading the decline and falling by 2.9%. The French CAC40 plummeted by 1.29%, while the German DAX …

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  • 27 January 2021 7:58 pm

    What to Expect from the Fed’s January Meeting?

    The Untied States Federal Reserve is highly expected to maintain interest rates unchanged during its January meeting, which concludes later on Wednesday. The two-day meeting is also expected to maintain the current pace of asset purchases. Furthermore, the Fed will surely reiterate its commitment to supporting the American economy until …

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  • 27 January 2021 7:32 pm

    Germany Sees Economy Growing by 3% in 2021

    The German government revised its expectations for economic growth in 2021 downwards to 3%, down from a previously estimated growth rate of 4.4%. Another lockdown as part of the preventive measures against the spread of the Coronavirus pandemic has left its toll on the biggest economy in Europe, as shown …

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  • 27 January 2021 6:26 pm

    USD Rises Ahead of Fed’s Policy Statement

    The U.S. Dollar (USD) rose on Wednesday, following the release of positive economic data that showed a rise in durable goods orders in December. The rise of the USD also comes amid anticipation for the outcomes of the Federal Reserve policy meeting, which is expected maintain interest rates unchanged near …

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  • 27 January 2021 5:45 pm

    US: Durable Goods Orders Rise by 0.2% in December

    Durable Goods Orders in the United States rose by 0.2%, or $0.4 billion, to $254.3 billion in December, the data published by the US Census Bureau showed on Wednesday. This reading followed November’s increase of 1.2% and missed the market expectation of 0.9%.

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  • 27 January 2021 5:35 pm

    GBP/USD Retreats Further Ahead of FOMC

    GBP/USD continued its corrective slide from several-month highs, and reached its daily low, with a target of 1.3700. After optimism about the launch of Covid 19 vaccines and hopes for a global economic recovery faded, along with doubts about the timing of the US stimulus plan, all this affected the …

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  • 27 January 2021 4:20 pm

    Germany’s Economic Institute DIW: Economy Likely to Contract 3% in Q1 2021

    Germany, Europe’s largest economy probably contracted by 3% in the January to March period, the latest forecasts published by Germany’s economic institute DIW showed on Wednesday.

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  • 27 January 2021 4:18 pm

    AstraZeneca Pulls Out From Meeting With EU on Vaccine Supplies – Reuters

    AstraZeneca has pulled out from the meeting with the European Union officials on coronavirus vaccine supplies that was scheduled to take place on Wednesday, Reuters reported, citing an EU official familiar with the matter.

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  • 27 January 2021 3:27 pm

    Currencies Overview: Dollar Rallied in Contrast to Euro Before The US Fed Meeting

    The dollar rose against a basket of currencies on Wednesday, January 27th, as markets awaited comments by US Federal Reserve Chairman Jerome Powell, who is likely to renew his commitment to a super-easing policy. The dollar compensated for declines against riskier currencies, even as hopes for a pandemic recovery received …

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  • 27 January 2021 2:14 pm

    European Stocks Fall Despite Earnings Results

    European stocks fell on Wednesday under the weight of fears of a slow economic recovery while most investors were reluctant to take positions ahead of the US Federal Reserve’s decision on monetary policy. The European Stoxx600 index fell 0.4% in early trade after losses in Asian markets and Wall Street. …

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