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Market Analysis

October, 2021

  • 25 October 2021 10:24 pm

    Tesla hits $1 trillion in market value

    Tesla shares surged Monday, briefly lifting the electric carmaker’s market value above $1 trillion, as investors shrugged off criticism from a U. S. safety official of the fast growing organization.Near 1700 GMT, shares of Tesla were up almost nine percent at $990.95, giving it a market capitalization of just under …

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  • 25 October 2021 9:49 pm

    Investors in test of courage with BoC over surging inflation

    Canada’s hot wave of inflation and the recovering labour market are accelerating pressure on the Bank of Canada to hike interest rates ahead of schedule. Investors are eyeing a fiscal policy announcement this week for clues that the central bank is turning more hawkish. Led by Governor Tiff Macklem, the …

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  • 25 October 2021 9:17 pm

    Bitcoin Update: Crypto fund inflows hit record

    Coinciding with Bitcoin’s surge to an all time high of $66,974, investors pumped a record $1.47 billion of new money into digital asset investment products, pushed by bloom of cryptocurrencies and the launch of the first bitcoin futures exchange-traded fund, according to report issued Monday by CoinShares.Bitcoin-focused funds dominated last …

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  • 25 October 2021 8:58 pm

    Natural gas futures reenergized by weekend cold shift

    A major colder shift from normal weather over the weekend pushed natural gas futures in early trading Monday. The November delivery Nymex contract was up 35.7 cents to $5.637/MMBtu.Investors observed colder changes to the temperature for the eastern half of the America both for the current week and next week, …

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  • 25 October 2021 8:06 pm

    BoE’s Tenreyro: More time needed to think about rate hike

    Bank of England interest rate-setter Silvana Tenreyro said she needs more time to judge how the end of the government’s job-saving plan impacts the labour market, adding to signs that she sees no urgency to raise rates.Uncertainty over the effects of the unpaid leave plan should be resolved over the …

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  • 25 October 2021 7:58 pm

    GCC’s fiscal scene improves with current oil prices

    Resurgent oil prices are causing a noticeable improvement in Gulf Cooperation Council fiscal and external balances in 2021, in addition to reform momentum that has taken hold to varying degrees since 2014 in response to oil price volatility, Fitch Ratings says.Fitch’s scenario analysis estimates that GCC budgets, except in Bahrain, …

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  • 25 October 2021 7:36 pm

    Germans astonished by seized Bitcoin auctioned at a discount

    Prosecutors in Germany are required, pursuant to the law, to put seized items such as bitcoin up for auction. An online auction of seized bitcoin that was initially priced at a discount aroused astonishment in Germany. The minimum bid was set at 42,400 Euros, below bitcoin’s recent price above $63,000. …

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  • 25 October 2021 7:09 pm

    Nigerian president launches eNaira cryptocurrency

    On Monday, Nigerian President Muhammadu Buhari officially introduced the country’s central bank digital currency; the eNaira.The Central Bank of Nigeria published a document in which it reaffirmed its intention to introduce the eNaira after previously attempting but failing to do so on 1 OctoberAccording to the design paper for the …

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  • 25 October 2021 6:55 pm

    US Major Indexes Give Back Modest Gains

    US major equity indexes opened the new trading week on a calm note near last week’s closing levels. The S&P 500 index was up 10 points to 4,542, almost unchanged on the day after giving up modest gains recorded after the opening bell on Monday. The Dow Jones Industrial Average …

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  • 25 October 2021 5:39 pm

    US: Chicago Fed National Activity Index Falls to -0.13 in September

    The data published by the Federal Reserve Bank of Chicago showed on Monday that the National Activity Index (CFNAI) fell to -0.13 in September from +0.29 (revised to +0.05) in August. This reading implies a slower growth pace in September than in August. The US dollar is still rallying after …

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  • 25 October 2021 3:57 pm

    Dollar Falls with focus on Rates Hike Prospects Elsewhere

    Eurozone

    The dollar fell on Monday, heading towards its lowest level in a month, as traders continued to focus on the prospects of rising interest rates and tightening monetary policy outside the United States. Currency markets were generally calm at the start of the week as traders awaited US growth data …

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  • 25 October 2021 3:00 pm

    US Bond Yields Rise at The Start of The Week

    US Treasury yields rose on Monday morning, with the 10-year bond rate exceeding the 1.66% mark, the benchmark 10-year Treasury yield rising one basis point to 1.6661%, and the 30-year Treasury yield adding one basis point at 2.1084 %, returns move inversely with prices and one basis point equals 0.01%.

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  • 25 October 2021 2:17 pm

    Gold Hovers Near $1800 an Ounce

    Gold prices approached levels of $1800 an ounce Monday, October 25th, which is considered an important level for investors, influenced by the dollar’s decline, and investors were preoccupied with assessing the possible response of the US Federal Reserve to inflationary pressures after its Chairman said that inflation may continue for …

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