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KostiaFM 09-12-2020 21:54

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December 09. Brexit talks and coronavirus vaccinations

The term of negotiations between the UK and the European Union is coming to an end, but the countries have not yet reached a new trade agreement. British Prime Minister Boris Johnson traveled to Brussels today to have a business dinner with European Commission President Ursula von der Leyen and try to find common ground.

Meanwhile, the first alarming news of the effects of the coronavirus vaccine has arrived. Pfizer-BioNTech has begun to vaccinate UK citizens this week, and a couple of mild allergic reactions have already been reported. British health authorities are now reporting that allergy sufferers should refrain from vaccinations.

In addition, a third vaccine from the Chinese pharmaceutical company Sinopharm has appeared, which claims to be highly effective (86%), which is confirmed by data from the UAE. The development of additional vaccines is likely to be an important step in the fight against coronavirus.

As a reminder, the US and the European Union have already reserved drugs produced and planned for production in the coming months by Pfizer and Moderna. Thus, the rest of the companies that developed vaccines will meet the needs of other countries.

KostiaFM 10-12-2020 16:22

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December 10.2020 - USA, coronavirus and latest economic reports

In the US, the November inflation report was published, which beat the forecast at 0.2%, as well as weekly data on jobless claims, which disappointed investors. The labor market situation in the United States is deteriorating due to the ongoing Covid-19 outbreak.

By the end of the week, 70 million people infected with coronavirus will be registered in the world. In the United States, there are more than 15.8 million patients, of whom more than 296,000 have died. The number of hospitalizations in the country has reached the highest ever.

In the EU, the number of new cases is gradually decreasing. A notable exception is Germany, which despite the lockdown, where more than 20,000 new cases of Covid-19 are detected daily. Brazil, India and Russia also continue to be hit hard by the virus.

KostiaFM 11-12-2020 16:59

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Meeting of the European Council: 2021 budget

The last meeting of the European Council in 2020 began yesterday. The main topic of discussion is the budget for the next year. At the end of the meeting, it became known how the European Union will spend the money and whether it will be able to allocate enough funds for the Recovery Fund - a special section of the budget dedicated to combating the economic damage from the coronavirus pandemic.

Poland and Hungary have previously questioned the future of the Recovery Fund. The two most right-wing EU countries had a problem with a provision in the funding bill that linked raising funds with respect for the rule of law. Both Poland and Hungary have come under criticism from the EU in recent years for problems in the judicial system, as well as freedom of speech and press. Fearing that this policy would leave them without EU incentives, Poland and Hungary said they would veto the bill.

However, other EU countries have forced these countries to pass a bill and budget plan totaling 1.8 trillion euros. The compromise was due to the clarification that respect for the rule of law would not be retroactive. In other words, Poland and Hungary (or any other EU member state violating this principle) can only be punished for future offenses, and not for what they have already done.

The EU Council summit disappointed anyone hoping for news of Brexit. The question that the transition period ends in less than three weeks is not on the agenda. The UK and the EU are still in talks, Boris Johnson and Ursula von der Leyen said earlier that they have until Sunday to find a compromise. The EU has already developed guidelines for the negative scenario.

KostiaFM 15-12-2020 18:45

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December 15. Industrial production in the US in November grew better than forecast

According to the report of the US Federal Reserve System, industrial production in November increased by 0.4% versus the previous month, when the indicator was noted at the level of 0.9%.

At the same time, the volume of production is still 5% below the pre-crisis level. Analysts polled by Reuters were expecting an increase of 0.3%.

In annual terms, industrial production in November fell by 5.5%, and in October – by 5%.

Manufacturing production in November increased for the seventh month in a row – by 0.8% versus October. The forecasts assumed an increase in the indicator by 0.3%. In the mining industry, production increased by 2.3%, electricity generation decreased by 4.3%.

Capacity utilization in the US increased to 73.3% in November from 73% a month earlier. Analysts on average predicted a decline to 72.9%.

KostiaFM 16-12-2020 18:07

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December 16. Bitcoin price has updated a new all-time high

The value of the most popular cryptocurrency, bitcoin, grows on Wednesday evening, exceeding the maximum level of December 2017 ($ 20,042) and updating a new all-time high at $ 20,535.

Bitcoin, like other cryptocurrencies, has risen sharply since October. Digital currencies are rising in value amid optimism in global markets and expectations that the Covid-19 pandemic will be brought under control thanks to the emergence of vaccines against coronavirus infection.

Additional support for Bitcoin is provided by a sharp weakening of the US dollar in the world market.

KostiaFM 17-12-2020 17:24

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December 17. Bank of England has kept the rate unchanged

The Bank of England at its meeting on Thursday kept its base interest rate at 0.1%, in line with analysts' expectations.

Moreover, the regulator has kept the volume of asset repurchases from the market at 895 billion pounds. The redemption of government bonds at the same time is 875 billion pounds, and the volume of redemption of corporate bonds remained at 20 billion pounds.

The Bank of England continues to monitor the situation around Brexit. London and Brussels are still trying to avoid a shock scenario with the introduction of import duties on January 1. Therefore, keeping the program for buying up government debt securities at the same level should provide the regulator with sufficient «firepower» until the end of 2021.

KostiaFM 18-12-2020 20:01

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December 18. Brent and WTI: What to Expect from the Oil Market?

Global oil prices are moderately lower on Friday as investors continue to assess the outlook for demand amid news of vaccinations in many countries.

The price of Brent crude oil dropped today to $ 51.17 per barrel, while the price of WTI oil - to $ 48.15. Note that the quotes moved down after four days of growth.

However, despite the optimism associated with the start of vaccination against coronavirus, the epidemiological situation in the world leaves much to be desired. Against this background, an increasing number of countries are introducing additional quarantine measures, which puts pressure on demand. We can say that the news about vaccines is too overestimated, which does not exclude the possibility of an imminent correction in prices from the highs. Recall that Brent quotes reached $ 51.80 at the moment, which was the maximum since mid-February of this year. WTI climbed to $ 48.60 per barrel, which also became its highest value in 10 months.

Additional risks to oil risk are posed by divisions within OPEC + as every exporter would like to take advantage of higher hydrocarbon prices. Do not forget that the organization has decided to increase oil production by 500 thousand barrels per day from January 1, 2021.

KostiaFM 23-12-2020 22:18

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December 23. Great Britain is on the verge of a trade blockade

UK industrialists fear that the country could face the threat of a food crisis. In particular, the country is facing an impending shortage of fruits and vegetables, and shoppers are lining up at supermarkets in London.

The fact is that due to the mutating coronavirus, a number of European countries have suspended transport links with Great Britain. And now, with food supply chains disrupted, London is on the verge of a trade blockade. Analysts note that the volume of supplies from the European Union amounted to a quarter of the total volume of the previous year.

In addition, port disruptions mean that British meat and fish exporters are unable to ship their goods to Europe. As it is known, the European Union is highly dependent on supplies from Britain. For example, in France there may not be enough fish for Christmas due to blocking of cargo.

KostiaFM 24-12-2020 17:08

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December 24. US stock exchanges are growing on expectations of state support

Major US stock indexes on Thursday are growing moderately on expectations of market participants for additional measures of economic support in the US. At the same time, the trading volume today is not large, since most exchanges today close earlier than usual in connection with the celebration of Catholic Christmas. Tomorrow is a day off in the USA and Europe.

In particular, the Dow Jones Industrial Average (DJIA) grew by 0.13%, to 30169.5 points, the NASDAQ high-tech index – by 0.41%, to 12822.01 points, the broad market S&P 500 index – by 0.26% , up to 3699.5 points.

Earlier, US President Donald Trump refused to sign the $ 900 billion package of economic assistance adopted by Congress on the eve of Congress, demanding a revision in order to increase payments to the population from $600 to $2,000 per person.

At the same time, markets are watching with concern the news of the mutation of the coronavirus in the UK, as fears about new serious restrictive measures are growing against this background. And this, in turn, can exert strong pressure on economic activity in Europe and the world.

KostiaFM 26-12-2020 21:45

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December 25. What awaits the oil market in 2021?

The outgoing year will be remembered for numerous anti-records: a fall in demand by 25%, overcrowding of oil storage facilities and a drop in prices for the first time in history. The reason for such events was the coronavirus pandemic in the world, which led to an unprecedented drop in oil prices: Brent collapsed to the level of $15 per barrel, and for the first time in history, WTI completely went into negative territory, reaching minus $40 (suppliers paid extra to buyers for oil export).

However, experts believe that next year will be more successful for «black gold», and the price of a Brent barrel will remain in the region of $45-55 per barrel. By the end of 2020, OPEC's coordinated efforts to balance the oil market, as well as news of the successful testing of vaccines against COVID-19, helped the oil rise to $50 per barrel.

The demand for oil products in the outgoing year is gradually approaching 97-99% of 2019, but air traffic has not yet been restored. Moreover, the new mutation Covid casts doubt on the imminent opening of borders. At the same time, the world economy continues to grow, which was facilitated by the stimulating programs of central banks. In such conditions, an optimistic scenario for further dynamics of the oil market is still more likely, experts say.

It should be added that the negative effect on demand from the pandemic will come to naught by the end of the first half of 2021, and the OPEC+ deal will remain in one form or another. However, in the unlikely scenario of canceling the agreement to cut oil production, the price of «black gold» may fall to the range of $35-45 per barrel. But, again, this is extremely unlikely.

KostiaFM 29-12-2020 20:24

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December 29. What awaits European stock market after Brexit?

Experts predict that the European financial market will face big changes after the UK's final exit from the European Union in 2021. The fact is that after Brexit, euro-denominated assets (stocks and derivatives) will be withdrawn from London exchanges, and the long-term consequences of such changes are not yet clear.

The trade agreement between London and Brussels last week does not cover the financial sector. This means that UK access to EU financial markets will end on December 31st. And the consequences of this can be seen already on January 4, the first day of trading in the new year. Analysts also note that the EU wants to reduce its dependence on London for financial services and increase the volume of trading in euro assets in Frankfurt, Paris, Amsterdam and other financial centers of continental Europe. As a result, the European stock and bond markets will split up, which could result in higher tariffs for investors.

From January 4, EU banks will carry out operations only on the territory of the block and will abandon British platforms (Cboe Europe, Aquis Exchange, Turquoise and Goldman Sachs). According to David Hewson, President of Cboe Europe, virtually all cross-border transactions in European stocks will move to other sites in one day, which will be the largest shift in stock trading in the last two decades.

KostiaFM 31-12-2020 15:00

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December 31. Senate Republicans blocked bill to increase payments to Americans

Republicans in the Senate have blocked a bill passed by the House of Representatives to increase the amount of incentive payments during the coronavirus pandemic from $600 to $2 thousand.

The head of the Republican majority in the US Senate, Mitch McConnell, said that he did not welcome the intention «to throw more borrowed money into the hands of rich Democratic friends who do not need help anyway.» Other demands of Donald Trump, in the form of an investigation of alleged violations in the presidential elections and establishing the responsibility of social networks for publishing content, the Democrats refused to discuss at all.

We recall that on Monday, the House of Representatives of the US Congress approved an increase in stimulus payments requested by President Donald Trump from $600 to $2 thousand. A day earlier, Trump signed the country's budget for the 2021st fiscal year in the amount of $2.3 trillion. The budget includes a $900 billion package of measures to support the economy in a pandemic.

KostiaFM 04-01-2021 22:20

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January 04. Bitcoin kicks off the year with a new all-time high

On Monday, the value of bitcoin began to decline after renewing its historical high at $34,543 on Sunday. The current value of the cryptocurrency is $31.632. In the morning, the price dropped to $29,000.

The bitcoin rate began to grow in mid-December, quickly breaking first the 20,000 mark, and then the 30,000 mark.

Analysts do not agree on the future price dynamics. Some believe that Bitcoin has already reached its maximum values, and a price pullback will soon follow. Others predict growth throughout the year, and even maximum values ​​of $100,000.

Recall that the cryptocurrency is based on a decentralized system based on blockchain technology. New blocks of the system are created by its participants using computing devices, mainly video cards. However, the emission is limited by the creators: only 21 million bitcoins can exist, and now more than 19 million have already been created.

KostiaFM 06-01-2021 15:16

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January 05. Experts named the key risks of 2021

Analysts of the consulting company Eurasia Group named the main risks for the economy, international politics and states in general, which they may face in 2021.

The first line in the ranking of the top 10 risks is occupied by the «divided America». Experts suggest that a huge part of the US population will consider the head of state illegitimate. For example, incumbent President Donald Trump's refusal to acknowledge presidential election results is a unique case in US history that signals a strong internal division in America.

The second risk is, of course, the coronavirus pandemic. Its further development threatens not only the lives and health of people, but also political stability and the world economy. Moreover, the distribution of vaccines can lead to the division of populations and states into haves and have-nots.

The third place in the ranking is taken by the fight against climate change. According to experts, global cooperation in this area can be replaced by competition.

In addition to these three points, the list of risks for 2021 includes growing tensions between China and the United States, difficulties with the international transfer of information and the likelihood of a conflict in cyberspace. Analysts also note the problems in the economies of Turkey and the Middle East, potential political risks in Germany associated with the resignation of Chancellor Angela Merkel, as well as the political crisis in Latin America.

KostiaFM 06-01-2021 21:05

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January 06. Trump bans transactions with Chinese payment services

US President Donald Trump signed a decree banning financial transactions with Chinese companies. The list of these companies includes corporations that control and develop applications for eight payment systems.

In particular, the ban included: Alipay, owned by Jack Ma's Ant Group, WeChat Pay, CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate and WPS Office.

Trump explained his decision by the fact that these applications get access to confidential information of users, which can then be used by the Chinese authorities for their own purposes. However, the decree will enter into force only 45 days later, after the president leaves the White House. Moreover, the newly elected President of the United States, Joe Biden, has the power to revoke Trump's decree on the first day of his presidency, that is, January 20.

KostiaFM 11-01-2021 21:07

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January 11. Oil has renewed its February 2020 high

On Monday, March Brent oil futures surpassed $56 per barrel for the first time since February 25, 2020. During the day, quotations decreased slightly, but still remained above the $55 per barrel level. March futures for the Texas WTI reached $51.56 a barrel.

The oil market began its growth last week, after Saudi Arabia announced its intention to reduce oil production by 1 million barrels per day in February and March. Earlier at a meeting, the OPEC+ countries decided to keep the current production restrictions. At the same time, Russia and Kazakhstan were allowed to increase oil production in aggregate by 75 thousand barrels per day.

Today, pressure on quotes continues to be exerted by investors' fears about the prospects for global economic growth and demand for raw materials amid the further spread of coronavirus in many regions of the world. Traders are confident that a worsening epidemiological situation will inevitably lead to a slowdown in economic activity.

Additional pressure on the oil market was provided by the Baker Hughes report, according to which the number of operating oil rigs increased by 8 units to 275, which corresponds to an 8-month high.

KostiaFM 12-01-2021 20:39

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January 12. European markets decline amid doubts about vaccine effectiveness

European stocks on Tuesday traded in different directions, reacting to the statements of the US Federal Reserve officials about the likelihood of a reduction in monetary stimulus at the end of this year.

The German DAX index traded at 13.916 today, shedding 0.14%. The CAC 40 in France also declined to 5.654, while the UK FTSE fell to 6.744, shedding 0.66%.

Major global indices have recently shown gains thanks to incentives from central banks and local governments, as well as against the backdrop of the start of mass vaccinations against coronavirus. However, now investors are beginning to doubt the effectiveness of vaccination due to the emergence of new highly infectious strains of the virus.

KostiaFM 13-01-2021 20:06

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January 13. Bitcoin shows worst dynamics since March 2020

On Wednesday, the most popular cryptocurrency drops in price, showing the worst trading dynamics since March 2020. Since the beginning of the new year, bitcoin has been showing increased volatility: until recently, the currency was updating its historical highs in the area of ​​$42 thousand, and today it is already trading near $34 thousand.

At the same time, JPMorgan bank experts previously said that the cost of bitcoin could jump up to $146 thousand if the cryptocurrency acts as a competitor to gold as a «safe haven».

The jump in the price of bitcoin at the end of 2020 came as a surprise to the markets. The previous sharp rise in the digital currency was recorded at the end of 2017, when quotes rose to the level of $20 thousand. After that, there was a certain lull in the cryptocurrency market, and bitcoin entered a period of a protracted depression that lasted until the spring of 2020.

In the spring, with the onset of the coronavirus pandemic, the demand for bitcoin grew along with the appetite for risky assets amid massive injections from the US Federal Reserve and central banks of other countries.

KostiaFM 14-01-2021 23:13

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January 14. The yield on Italian government bonds rises due to political chaos in Rome

The yield spread on Italian and German 10-year government bonds reached its highest level in a month amid political turmoil in Rome and slowdown in economic growth in the country – 116 basis points.

Italy has faced political chaos after the party of former Italian Prime Minister Matteo Renzi left the government, stripping the ruling coalition of its parliamentary majority.

As a result, the yield on Italian government bonds rose by 4-7 basis points. The underlying 10-year yield rose 6 basis points to 0.617%.

KostiaFM 15-01-2021 23:02

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January 15. German economy shrank by only 5% in 2020

According to preliminary data from the German Federal Statistical Office, the country's economy contracted by only 5% in 2020, less than expected. This was facilitated by the decisive measures of the German government, which made it possible to minimize the damage caused by the coronavirus pandemic.

The fall in GDP turned out to be less than the forecast of 5.1% and less serious than the record economic contraction in 2009 during the global financial crisis. The agency also noted that the German economy faced stagnation in the IV quarter of 2020, but analysts are still expecting positive dynamics in the new year.

Recall, that in March last year, the government of Angela Merkel took a number of measures to rescue and stimulate the largest economy in Europe. Specifically, incentives included helping companies struggling with the pandemic, job protection schemes for employees, tax cuts, and cash disbursements to boost domestic demand. The government also invested in green technologies and infrastructure.

KostiaFM 18-01-2021 20:43

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January 18. German economy faces significant decline if restrictions are extended

The Bundesbank said today that the German economy still manages to stay afloat, but it could also face a «tangible blow» if the country extends restrictions to combat the coronavirus.

As early as autumn, Germany introduced tougher measures, such as the closure of some schools and shops, to restrict the movement of people and prevent the spread of Covid.

German Chancellor Angela Merkel is in favor of taking very quick measures to avoid mass morbidity. German authorities will meet this week to discuss tougher restrictions. However, the German central bank fears that if the measures are extended, the country's economy could be seriously affected.

KostiaFM 19-01-2021 20:17

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January 19. Important macroeconomic publications of the day

Macroeconomic calendar on Tuesday does not differ in the variety of publications, however, attention should be paid to the following reports that can affect the dynamics of trading in the single European currency.

According to the report of the German Institute ZEW, the index of business sentiment in Germany, assessing business expectations, amounted to 61.8 points in January against 55.0 a month earlier. Analysts predicted the value of the January indicator at 55.1.

A similar report on business sentiment in the eurozone showed an increase in the indicator from 54.4 points in December to 58.3 points in January. Experts had expected the value of the January indicator at 54.1.

The German Federal Office for Statistics Destatis presented its final inflation report today. The consumer price index in Germany rose 0.5% in December, in line with preliminary data and analysts' forecasts. In annual terms, consumer inflation in December decreased by 0.7%.

KostiaFM 20-01-2021 19:11

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January 20. Joe Biden takes over as President of the United States

Today is a very important day for the United States of America – the inauguration of the new President-elect Joe Biden. The 78-year-old Democrat will become the oldest president in U.S. history and lead a country plagued by the coronavirus pandemic and political divisions.

Biden's companion Kamala Harris, the daughter of immigrants from Jamaica and India, will become the first black, first woman, and first Asian American to be elected US Vice President.

The inauguration ceremony will take place at the Capitol Building, where the unprecedented storming of the building by supporters of Donald Trump was organized on January 6. As a result of this «action», the US House of Representatives last week impeached the incumbent president for the second time, which also has never happened in the history of the country.

Contrary to tradition, the outgoing president will not be present at the inauguration of his successor: this morning D. Trump left the White House and Washington without admitting defeat in the elections.

KostiaFM 21-01-2021 20:47

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January 21. ECB expectedly kept the base rate at zero level

The Board of Governors of the European Central Bank (ECB) at its meeting today kept the base interest rate at a record low zero, as expected by most experts. The rate has been at this level since March 2016.

The deposit rate was also left unchanged – at the level of minus 0.5%, while the margin rate remained at 0.25%.

The European regulator noted that it will keep all rates at (or below) the current level until inflation approaches the target level of 2%.

In addition to rates, the ECB left unchanged the parameters of the special asset purchase program Pandemic emergency purchase program (PEPP). At the moment, its volume is 1.85 trillion euros. The program will run at least until the end of March 2022.

KostiaFM 25-01-2021 20:03

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January 25. Negative statistics from Germany dropped the euro

The euro rate, which showed growth in tandem with its main opponent, went down after the release of weak macroeconomic statistics from Germany. The current quote for the EUR/USD pair is 1.2145.

In particular, data from the IFO research institute reflected a decrease in the business climate index in Germany to 90.1 points compared to 92.2 points in December. At the same time, analysts had expected the indicator to decline only to 91.8 points.

The assessment of the current economic situation in the country in January also fell more than the forecast – to 89.2 points from 91.3 points in December. In addition, the country's business expectations index fell to 91.1 points against the December index of 93 points, while analysts predicted its growth.

KostiaFM 26-01-2021 16:15

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January 26. The oil market has good growth potential

Oil prices continued to rise on Tuesday: Brent has reached $56 per barrel, WTI – $53,25. At the same time, the potential for further strengthening remains.

Some days earlier the information appeared that Iraq plans to reduce oil production to 3.6 million barrels per day, which will be compensation for unfair fulfillment of the terms of the OPEC + deal in 2020. And if Iraq keeps its promises, then the volume of production in the country will decline to the lowest level since 2015.

An additional factor in the rise in oil prices may be the interruptions in exports in Libya, caused by delays in the payment of salaries to the security personnel of the oil facilities. Before these conflicts, Libya saw a rapid recovery in oil production: in December, production reached 1.2 million barrels per day, while in August production volumes were less than 100 thousand barrels per day.

Also, market participants continue to monitor the spread of Covid-19 in the world and the progress of negotiations on new economic stimulus in the United States. US President Joe Biden is pushing for the early adoption of a new $1.9 trillion fiscal stimulus package. The inflow of new money into the US economy will put pressure on the dollar, which, in turn, will act as a factor supporting Brent quotes.

KostiaFM 27-01-2021 21:32

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January 27. Biden considers Nord Stream-2 a bad deal for Europe

US President Joe Biden said that he considers the Nord Stream 2 gas pipeline project a bad deal for Europe and intends to revise the restrictions adopted by Congress under Donald Trump.

These sanctions were included in the US annual defense budget (NDAA) and, according to them, the restrictions apply to any company that helps Gazprom lay a pipeline, insure ships, certify and repair equipment. The Trump administration has argued that the project will strengthen the economic and political influence of Russian President Vladimir Putin in Europe.

The new president is also opposed to further construction of the gas pipeline. Perhaps the new restrictions will be even stricter. As a reminder, at present Russia has resumed the implementation of Nord Stream 2 after foreign pipelayers left the project due to the threat of US sanctions.

KostiaFM 29-01-2021 18:15

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January 29. Bitcoin rose after Elon Musk's tweet

According to the trading data, the growth of bitcoin on Friday accelerated sharply, exceeding the $38 mark. The growth driver was the publication of Elon Musk on his Twitter page, where the entrepreneur mentioned bitcoin, adding the hashtag «bitcoin».

Also, the head of Tesla and SpaceX wrote a separate message: «In retrospect, it was inevitable.»

As a result, the rate of the first cryptocurrency immediately skyrocketed from $32 thousand to $38 thousand, stabilizing slightly during the day at $37 thousand.Thus, in about an hour, the price of bitcoin increased by more than 17%.

A few days earlier, Elon Musk «boosted» another cryptocurrency – previously little-known Dogecoin. It skyrocketed in value by more than 800% after Musk's «joke» mention on his Twitter account.

KostiaFM 01-02-2021 17:51

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February 01. Silver prices skyrocket to 8-year highs

Silver prices have jumped 16% over the past three trading sessions. The current quotation of the asset is $30.133 per ounce, which is a new high since February 2013.

Experts point out that the rush for silver may have emerged after a message appeared last week urging people to invest in silver on the private trader community on Reddit (a social news site). Forum participants decided to raise the price of the metal after the success with the shares of the GameStop company and the Dogecoin meme cryptocurrency.

Silver began to rise last week amid calls from traders to buy the metal to put pressure on banks trying to capitalize on its price decline. And on January 29, the net capital inflow to IShares Silver Trust, the largest exchange-traded fund backed by silver, reached an unprecedented amount of $944 million.

Investor interest in silver has also led to a surge in the value of silver-mining companies and ETFs that are pegged to silver. So the securities of the silver mining corporation First Majestic Silver soared by 30% in the last two trading sessions.

KostiaFM 03-02-2021 21:52

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February 03. The number of jobs in the private sector in the United States in January grew better than expected

According to a press release from the analytical company Automatic Data Processing (ADP), the number of jobs in private companies in the United States in January increased by 174,000. Analysts predicted an increase in the indicator by only 49 thousand.

The December figure was revised down to a decrease of 78 thousand from a decrease of 123 thousand.

In the US small business, the number of jobs in January increased by 51 thousand, in medium-sized companies (with a staff of 50-499 people) – by 84 thousand, and large companies increased their staff by 39 thousand jobs.

In the service sector, the number of jobs increased by 156 thousand, in the production of goods – by 19 thousand. At the same time, the figure for private construction companies in the country in January increased by 18 thousand, in the manufacturing sector – by 1 thousand.

KostiaFM 04-02-2021 19:13

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February 04. The number of applications for unemployment benefits in the United States for the week fell by 33 thousand

According to the US Department of Labor, the number of initial applications for unemployment benefits in the United States for the week fell by 33 thousand compared with the revised figure of the previous week – to 779 thousand applications. Analysts predicted a decrease in the number of applications by only 17 thousand, to 830 thousand.

At the same time, the average number of initial applications over the past four weeks decreased by 1.25 thousand from the revised figure – to 848.25 thousand. The initial figure was revised downwards – to 849.5 thousand from 868 thousand.

The total number of people receiving unemployment benefits in the United States fell by 193 thousand from the revised figure of the previous week, to 4.592 million. The previous week's figure was revised to 4.785 million from 4.771 million.

KostiaFM 05-02-2021 21:35

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February 05. Oil market hits annual high

The oil market continues its bullish rally, reaching $59.70 per barrel. The last time the quotes were at similar levels was in January 2020.

The main support for oil prices is provided by the successful implementation of the terms of the deal to reduce oil production by OPEC + countries. On Wednesday, a meeting of the OPEC + Monitoring Committee took place, at which it was noted that the agreement was fulfilled by 101%. On the side of buyers are also data on changes in US oil reserves from the EIA - stocks of raw materials in the country continue to decline for the third week in a row.

Further driving up the oil market are signs that the coronavirus pandemic is on the wane as infections, hospitalizations and deaths have been steadily declining globally over the past two or three weeks.

At the same time, market participants ignored the annual report of the US Department of Energy with pessimistic forecasts for a recovery in demand. The EIA noted that aggregate energy consumption in the United States could return to 2019 levels only by 2029, and if the pace of economic recovery remains low, then even by 2050.

KostiaFM 09-02-2021 16:48

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February 09. Elon Musk once again contributed to the historical growth of bitcoin

The cost of bitcoin for the first time exceeded the $48 thousand mark today. The rapid growth was noted after Tesla's announcement of the acquisition of cryptocurrency for $1.5 billion (1.2 billion euros) and its readiness to continue to accept it as payment for electric vehicles. The increase since the beginning of the year was about 61%, and since the beginning of the day – by 2.5%.

Investors expect BlackRock Inc. to join the list of companies that invest in or own Bitcoin soon. Is an international investment corporation and American tech giant Square Inc.

The systematic growth of bitcoin began in the fall of 2020, it remained until mid-January 2021. After the cryptocurrency reached a record high of $40 thousand, the rate began to gradually fall and stayed in the region of $30-35.

Analysts do not have a general prediction of what will happen with Bitcoin next. Some believe that the cryptocurrency was overvalued at the level of the exchange rate of $30 thousand, while others predict growth up to several hundred thousand dollars.

KostiaFM 11-02-2021 15:37

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February 10. Oil continues to break records

Oil continues to break records, reaching $61.50 a barrel. Brent rose in price for the ninth session in a row, WTI – for the eighth. The prices were supported by the forecast of the US Department of Energy, according to which in 2021 world oil demand will amount to 97.67 million barrels per day, and world supply – 97.29 million bpd.

As a result, this year the market may no longer face an excess, but a shortage of oil in the amount of 380 thousand bpd. In 2022, according to the estimates of the US Department of Energy, the oil supply deficit may increase to 400 thousand bpd.

Today, market participants are awaiting the publication of the US Department of Energy's report on energy reserves in the country. Yesterday, the American Petroleum Institute (API) announced a decline in oil reserves by 3.5 million barrels per week. Analysts expect the Energy Ministry data to show a 2.7 million barrels drop in US crude inventories.

An additional positive for the oil market is a slight improvement in the epidemiological situation in the world. Ongoing vaccinations, declining COVID-19 incidence, and expectations for a new stimulus package in the US are improving the outlook for demand.

KostiaFM 16-02-2021 08:55

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February 15. US Senate acquits Trump at impeachment trial

The Senate of the US Congress, during its meeting, acquitted former President Donald Trump in the framework of impeachment. Trump is known to have been charged with inciting a crowd to attack the Capitol last month.

57 senators voted for impeachment, while 43 voted against. 67 votes out of 100 were required for the indictment. Thus, the initiative did not receive the required number of votes. Earlier, many Americans (54% of respondents) said that Trump should stop participating in the country's political life.

The second process of impeachment against the former head of the White House began in the Senate on February 9. It was the first time in the United States that an attempt to remove a state leader from office after the end of the presidential term was made.

The first attempt at impeachment was made back in 2019, but the Senate acquitted the president in early 2020. Then the investigation was launched in connection with the statement of an anonymous informant that President Trump in July 2019 put pressure on President of Ukraine Volodymyr Zelensky in his own personal and political interests.

KostiaFM 16-02-2021 22:21

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February 16. Oil market dynamics

On Tuesday, the oil market demonstrates multidirectional dynamics: Brent quotes fluctuate in the range of $63-63.70 per barrel. The current price of the asset is $63.25.

Prices were supported by news that Texas oil companies are suspending operations due to the Arctic cold, which has led to power outages in many parts of the state. Analysts note that this factor could lead to a decrease in production by about 1 million barrels per day.

It should be noted that this almost completely neutralized the negative effect of the data on the number of drilling rigs in the United States. According to statistics from Baker Hughes, the number of active oil platforms has grown from 299 to 306, indicating a gradual recovery in the US oil sector.

Moreover, Brent is also being supported by an improvement in the epidemiological situation in the world amid the rapid spread of vaccines. This gives hope that new restrictions will be dispensed with this year.

Further dynamics of the oil market will depend on the behavior of the dollar. Now the US currency is declining across the entire spectrum of the market amid expectations of the final approval of the economic stimulus program from Joe Biden in the amount of $1.9 trillion.

KostiaFM 18-02-2021 22:06

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February 17. Elon Musk's SpaceX raised $850 million

Last week, space company SpaceX, owned by Tesla CEO Elon Musk, raised $850 million in new funds, bringing the company to a valuation of around $74 billion. The funds were raised at $419.99 per share.

The previous round of funding was completed in August last year. Then SpaceX managed to raise about $2 billion at an estimate of $46 billion. Since then, Musk's company has grown by about 60% by its estimate.

Experts note that over the past three days, the market has seen a truly «insane demand» for the company. The reason for this unexpected influx of funds into the company is the development of two capital-intensive projects by SpaceX.

The first project – Starlink – is the creation of an interconnected Internet network using thousands of satellites. The network is designed to provide high-speed 5G internet to consumers anywhere in the world. Initially, the construction of Starlink was estimated at $10 billion, but now the company's management is confident that the network can bring in up to $30 billion a year.

The second project is the construction and launch of Starship missiles. The main purpose of such rockets is to deliver goods and people (up to 100 people) to the Moon and Mars.

KostiaFM 19-02-2021 08:00

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February 18. The number of applications for unemployment benefits in the US rose worse than expected

According to the US Department of Labor, the number of initial claims for unemployment benefits for the week ended February 13, increased by 13 thousand compared with the revised figure of the previous week to 861 thousand applications.

At the same time, analysts were expecting a decrease in the indicator by 28 thousand – to 765 thousand. What is even worse – the indicators of the previous week were revised upward by more than 50 thousand to 848 thousand.

The number of secondary orders, which are counted one week behind the primary orders, also disappointed market participants. Secondary bids fell only slightly to 4.494 million from an upwardly revised 4.558 million. Analysts had expected 4.413 million.

KostiaFM 19-02-2021 22:58

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February 19. Bitcoin capitalization approached $1 trillion

The bitcoin rate continues to update historical highs, and the cryptocurrency capitalization is approaching $1 trillion. According to the trading data, on Friday, the bitcoin rate rose to $53,250.

The capitalization of the digital currency since the beginning of 2021 has grown by almost $440 billion and, according to experts, is $979.9 billion.At the same time, the index of four cryptocurrencies calculated by Bloomberg (Galaxy Crypto Index), which includes bitcoin, has more than doubled this year.

Such a rapid rise in the value of cryptocurrency is caused by the high interest in it from institutional investors, as well as companies that consider cryptocurrency as a hedge against inflation risks. An additional factor in the price hike is the periodic mentions of #bitcoin by Tesla CEO Elon Musk on his Twitter account.

KostiaFM 24-02-2021 18:19

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February 22. Poland and Ukraine call on the US to «end» the construction of the Nord Stream-2

Foreign Ministers of Poland and Ukraine Zbigniew Rau and Dmitry Kuleba called on US President Joe Biden to «put an end» to the construction of the Nord Stream 2 gas pipeline. In their note politicians advised Biden to use every means at his disposal to prevent the completion of the project.

Rau and Kuleba fear that Nord Stream-2 will further strengthen Russia's position in the situation with gas supplies to Europe. In addition, in their opinion, the project will convince Ukrainians that the West does not adhere to its own principles and does not care about the prosperity of Ukraine.

The ministers are convinced that Moscow was allowed to go too far in implementing the project, and Washington's position on this issue is very important.

The day before, Nord Stream, the operator of Nord Stream-2, asked the German regulator for «immediate execution» of permission to lay the pipeline in German waters. The fact is that in January, the environmental organization Deutschen Umwelthilfe, protested the previously issued permission to lay the pipe.

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