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Market Analysis

January, 2021

  • 26 January 2021 6:00 pm

    US: Philly Fed Nonmanufacturing Index Improves to -17.5 in January From -26.6 in December

    The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to -17.5 in January from -26.6 in December.

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  • 26 January 2021 5:41 pm

    IMF: Global Economic Growth Forecast For 2021 at 5.5% vs. 5.2% in October

    In its latest World Economic Outlook report, the International Monetary Fund (IMF) revised up its forecast for 2021 global economic growth to 5.5% from 5.2% in October’s publication, as reported by Reuters. “IMF forecasts 2020 global economic contraction at 3.5% vs. October forecast of 4.4% contraction, cites stronger-than-expected momentum in …

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  • 26 January 2021 5:26 pm

    Saudi Arabia Markets Dual-Tranche Dollar Bonds – Document

    A document seen by Reuters showed that Saudi Arabia has begun marketing the sale of standard-sized US dollar-denominated bonds in two tranches for a term of 12 and 40 years. The Kingdom has set an initial indicative price at about 165 basis points over ten-year US Treasury bonds for the …

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  • 26 January 2021 4:42 pm

    Merkel: Will Lobby For Strengthening of WTO

    German Chancellor Angela Merkel said on Tuesday that Germany will lobby for the strengthening of the World Trade Organization (WTO) and noted that the WTO is the basis for fair trade, as reported by Reuters. “We hope to continue the Organisation for Economic Co-operation and Development (OECD) work on the …

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  • 26 January 2021 4:40 pm

    Italy: Prime Minister Giuseppe Conte Officially Resigns

    Italian Prime Minister has officially resigned, Reuters reported on Tuesday, citing a statement released by the President’s office. The press release further revealed that the President will start consultations with political parties on Wednesday on how to resolve this crisis.

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  • 26 January 2021 3:41 pm

    German Health Ministry: Can’t Confirm Reports on AstraZeneca Vaccine’s Lower Efficacy

    Responding to the media reports on the efficacy of AstraZeneca’s coronavirus vaccine, Germany’s Health Ministry said that they can’t confirm the local reports. “Data doesn’t suggest the efficacy of just 8% for older people.”

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  • 26 January 2021 2:54 pm

    IEA: Global Demand for Natural Gas May Grow by About 3% this year

    An analyst from the International Energy Agency announced that global gas demand is expected to grow by 2.8% this year, equivalent to about 110 billion cubic meters, to recover towards 2019 levels. The expected recovery will not be significant and that the more mature markets will only see a gradual …

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  • 26 January 2021 2:19 pm

    Oil Falls Amid a Row Over US Stimulus And a Spike in Covid-19 Cases

    Oil prices plunged on Tuesday, January 26th, as the chances for rapid approval of a new economic stimulus receded in the United States, while a surge in coronavirus cases raised doubts about the pace of any recovery in demand. Brent crude fell 28 cents, equivalent to 0.5%, to more than …

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  • 26 January 2021 1:34 pm

    Japan Stock Closed Lower Due to Vaccine Delay And Caution Ahead of Earnings Season

    Japan

    Japanese stocks closed lower on Tuesday, January 26, as they witnessed profit-taking sales due to concerns about delays in the distribution of anti-coronavirus vaccines, as well as in an American stimulus package and a state of tension before the start of the corporate earnings announcement season. The Nikkei index fell …

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  • 26 January 2021 1:16 pm

    European Shares Rise as UBS Rise

    European stocks rose on Tuesday, January 26th, after a two-session decline, as Swiss Wealth Management UBS announced a rise in quarterly net profit, but the gains were curbed by concerns about extending the lockdown and US stimulus measures. The European Stoxx600 index rose 0.2%, after closing at its lowest level …

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  • 26 January 2021 12:40 pm

    Gold Rising on US stimulus Hopes

    Gold rose on Tuesday, January 26th, as the yellow metal’s appeal was strengthened as a hedge against inflation thanks to expectations of eventually passing a large US stimulus package, despite the strong dollar curbing the gains. This rose in spot transactions 0.1% to 1856.33 dollars an ounce and US gold …

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  • 26 January 2021 4:23 am

    Italian PM Conte to Resign Aiming to Form New Coalition

    The Prime Minister of Italy, Giuseppe Conte, is set to resign from his post on Tuesday, his office announced on Monday. The Prime Minister is looking forward to being re-appointed by President Sergio Mattarella to form a new coalition government. The current government lost its majority in the Italian Senate …

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  • 26 January 2021 2:16 am

    BoE Governor Questions Stability of Cryptocurrencies

    The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that cryptocurrencies are providing a modern way of payment, but not as currencies, Reuters reported. Bailey’s remarks came during an online event organized by the World Economic Forum’s Davos summit on Monday. “Have we landed on what …

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