The main indices of the New York Stock Exchange (NYSE) showed a mixed performance on Tuesday and closed mostly lower. This comes amid huge increases in the U.S. Treasury yields and disruptions in the energy sector due to extreme weather conditions in the south that resulted from a strong winter …
Read More »Gold Attempts to Glitter as Dollar Weakens
Gold prices climbed above the $4,600 mark, extending gains as Japan’s intervention in currency marke…
A Landmark Trade Gesture: China Expands Zero-Tariff Access for Africa
China has announced it will scrap tariffs for nearly all African countries, extending duty-free acce…
Trump Targets EU Autos with 25% Tariff Shock
President Donald Trump announced he will raise tariffs on cars and trucks imported from the European…
Only Slight Advance: Trade Threats and War Headlines Keep Greenback in Retreat
The US Dollar managed a modest bounce on Friday after sliding to its lowest point in two weeks, but …
Trump Rejects Iran’s Peace Proposal, Warns of Escalation
Hopes for a breakthrough in the war between the United States and Iran dimmed on Friday as President…
Spirit Airlines Faces Final Descent as Rescue Plan Collapses
Spirit Airlines, long known for its ultra-low-cost fares, is preparing to shut down operations after…
Euro Climbs as Dollar Falters Under Geopolitical Pressure and Market Surprises
The euro extended its upward momentum against the US dollar, climbing to its highest levels in over …
Yen Holds Steady After Tokyo’s Bold Intervention
The Japanese yen found stability after authorities stepped in to halt its rapid decline against the …
Mid-East War Hits Exxon Mobil and Chevron Profits as Supply Lines Clog
Despite soaring oil prices triggered by the ongoing war in Iran, American energy giants Exxon Mobil …
Bitcoin Bounces Back Above $77K: Wall Street Records and Apple’s Stellar Earnings Reignite Crypto Rally
Key Takeaways Bitcoin rebounds: The world’s largest cryptocurrency rose 1.8% to $77,143 after …
Market Analysis
February, 2021
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17 February 2021 1:29 am
Natural Gas Futures Register Large Gains as Demand for Energy Surges
Natural gas futures rose on Tuesday to mark their highest closing level in about four months, amid increased demand for energy and heat sources as a strong winter storm led to extreme cold weather in southern parts of the United States and some northern parts of Mexico. Natural gas futures …
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17 February 2021 1:20 am
Oil Maintains Highest Level in 13 Months
Oil prices rose on Tuesday, amid increased demand for energy and hear sources as a strong winter storm hit parts of North America. In addition, weather conditions led to supply disruptions with the shutdown of some crude refineries in Texas. The global benchmark Brent crude futures for April delivery rose …
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17 February 2021 1:14 am
Gold Futures Close Below $1,800
Gold prices declined on Tuesday, losing the key $1,800 support level, as the U.S. Treasury yields rose significantly leading to increased demand from investors. The yellow metal futures for April delivery dropped by $24.20, or 1.3%, to close at $1,799 per ounce. This is the lowest closing level for gold’s …
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16 February 2021 11:26 pm
European Stocks Mixed and Close Marginally Lower
European stocks closed marginally lower on Tuesday, amid a mixed performance by market sectors. The STOXX Europe 600 index declined by less than a single point to close nearly unchanged. The German index DAX fell by 0.32%, while the French CAC40 rose marginally by 0.01%. Meanwhile, the UK’s FTSE100 finished …
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16 February 2021 8:44 pm
Gold Decline as the USD Rebounds
Gold prices are showing a declining performance on Tuesday, amid a rise in the United States Treasury yields and a strong rebound by the U.S. Dollar (USD). In addition, an improved risk sentiment among investors is reducing demand for safe havens in favor of riskier assets. Spot gold is currently …
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16 February 2021 8:34 pm
Oil Prices Show Mixed Performance but Remain Near Record Levels
Crude oil prices are showing a mixed performance on Tuesday, with the U.S. benchmark futures rising amid cold weather conditions shutting production in Texas and raising demand for energy and heat sources. Meanwhile, the global benchmark Brent crude futures are showing a relative decline after recent surges with a strong …
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16 February 2021 7:24 pm
Wall Street Opens Week at New Record Highs
The main indices of the New York Stock Exchange (NYSE) opened Tuesday’s session at new record high levels, supported by an improved investors’ sentiment, amid hopes in Wall Street for economic recovery from the Coronavirus pandemic. Recent positive economic data has helped increase risk sentiment and supported gains by the …
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16 February 2021 7:18 pm
USD Strongly Recovers from Three-Week Low
The U.S. Dollar (USD) rose on Tuesday, beginning the week with a positive performance following a long weekend that was prolonged by Presidents Day on Monday. The positive performance by the USD is supported by the strong increase in the U.S. Treasury yields, amid optimism for economic recovery from the …
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16 February 2021 6:01 pm
US: NY Empire State Manufacturing Index Improves February
The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey rose to 12.1 in February from 3.5 in January, the NY Fed’s report revealed on Friday. This reading came in better than analysts’ estimate of 6.
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16 February 2021 5:59 pm
Bitcoin Breaks The $ 50,000 Mark for The First Time Ever
Bitcoin jumped above $50,000 on Tuesday to a new record high, continuing a rally fueled by indications that the world’s largest cryptocurrency is gaining traction among major investors. Bitcoin reached a new peak of $ 50 thousand, and in its most recent transactions it was 3.9% at $ 49,891. The …
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16 February 2021 4:27 pm
German ZEW Economic Sentiment Index Beats Estimates in February
The German ZEW headline numbers for February showed that the Economic Sentiment Index improved further to 71.2 versus 59.5 expected and 61.8 last. While the sub-index Current Conditions figure arrived at -67.2 in Feb versus -67.0 expected and -66.4 booked previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Feb jumped …
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16 February 2021 4:04 pm
Eurozone Preliminary GDP Contracts by 0.6% QoQ in Q4
The Eurozone economy contracted 0.6% on quarter in the three months to December of 2020, beating -0.7% expected, the second estimate showed on Tuesday. On an annualized basis, the bloc’s GDP dropped by -5.0% in Q4 vs. -5.1% seen in the first readout while beating -5.1% expectations.
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