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Market Analysis

February, 2021

  • 9 February 2021 12:22 am

    Fed’s Barkin not Worried About Rise in Inflation

    The President of the Federal Reserve Bank of Richmond, Thomas Barkin, is not concerned with an overshoot in inflation due to the increased government stimulus, which he views as necessary to achieve economic recovery. Barkin still sees some short-term price volatility, with deflationary and inflationary risks ahead, he told the …

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  • 9 February 2021 12:00 am

    Gold Closes Higher for Second Session in Row

    Gold prices rose on Monday, for the second consecutive session, opening the week with a positive performance after dropping on Thursday by 2% to its lowest level since November. The yellow metal gains come amid anticipation for an increase in the United States government stimulus spending. The Democrats are working …

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  • 8 February 2021 11:57 pm

    U.S. Economic Growth Forecasts Revised Up: Goldman Sachs

    A report by Goldman Sachs on Monday showed a rise in the bank’s expectations for the growth of the gross domestic product (GDP) in the United States during the second quarter of 2021 to 11% from a previous estimate of 10%. Goldman Sachs now sees additional fiscal measures at $1.5 …

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  • 8 February 2021 10:02 pm

    European Stocks Close Higher

    European stocks closed higher on Monday, opening the week with a positive performance amid an improved risk sentiment that benefited equity markets around the world. The pan-European STOXX 600 index finished higher by 0.3%. Meanwhile, the French CAC40 index gained 0.47%, while the German index DAX closed marginally higher by …

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  • 8 February 2021 9:01 pm

    Takeaways from Lagarde’s Speech to European Parliament

    The President of the European Central Bank (ECB), Christine Lagarde, delivered on Monday a speech to the plenary session of the European Parliament, which is drafting a resolution for the ECB Annual Report. Lagarde acknowledged that the start of vaccination campaigns provides hope, but noted that people across Europe are …

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  • 8 February 2021 8:38 pm

    USD Steadies Following Last Week’s Decline

    The U.S. Dollar (USD) is stabilizing on Monday, following its decline by the end of last week following the release of job data in the United States. The greenback is fluctuating within a limited range, with the market anticipating the passing of the $1.9 trillion relief bill, proposed by the …

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  • 8 February 2021 8:00 pm

    AUD Rises as USD Struggles for Direction

    The Australian Dollar (AUD) is showing a positive performance against the U.S. Dollar (USD) at the beginning of the second week of February, as the latter continues to be negatively impacted by the recent job data report in the United States. Early in the American session on Monday, the AUD/USD …

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  • 8 February 2021 6:00 pm

    Bitcoin Jumps to an Unprecedented Peak, Backed by News of Tesla’s Investment

    Bitcoin jumped more than 14% to an unprecedented peak after Tesla announced that it had invested nearly $ 1.5 billion in cryptocurrency last month. And that news raised Bitcoin to exceed 44 thousand dollars. The electric car maker revealed the investment ten days after its CEO, Elon Musk, added the …

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  • 8 February 2021 5:35 pm

    Investor Confidence in The Eurozone Decreased

    Today’s survey reported that investor sentiment in the eurozone fell unexpectedly in February, as the economy was affected by the lockdown measures aimed at curbing the pace of Covid-19 cases, unlike other regions in the world that achieved further recovery. Sentex Euro-zone index fell below zero, dropping from 1.3 in …

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  • 8 February 2021 3:41 pm

    US Dollar Settled After Weak US Inflation And Central Tendency to Monetary Easing

    The dollar fell during a quiet Asian session, after weaker than expected inflation data in the United States for January and the Federal Reserve’s repetition of its monetary easing stance, but the US currency compensated for some of its losses with the opening of European markets. Data on Wednesday showed …

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  • 8 February 2021 2:44 pm

    German Industrial Production Was Flat in December

    German industrial production remained unchanged in December, in light of the comprehensive closures imposed at home and abroad to contain the Covid-19 pandemic, which curbed the export-oriented manufacturing sector in the largest European economy. This follows a 1.5% growth in the previous month, according to figures released by the Federal …

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  • 8 February 2021 2:18 pm

    Technology Stocks in Europe Rise led by Dialog

    European stocks rose, after achieving their best weekly gains in nearly three months, as Dialog Semiconductor boosted the technology sector, while hopes for a faster economic recovery continued on the back of the global distribution of vaccines. Renesas Electronics and Dialog said they had agreed that the Japanese chipmaker would …

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  • 8 February 2021 1:28 pm

    Gold Rises on Dollar’s Fall and US Stimulus Hopes

    Gold prices rose, as weak US jobs data boosted hopes of more fiscal stimulus and put pressure on the dollar, although the rise in treasury instrument yields limited the metal’s gains. The spot price of gold was 0.1% up to $ 1813.96 an ounce. US gold futures rose 0.1% to …

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