Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 8 July 2021 12:38 am

  Oil Maintains Losses amid Continued Uncertainty

  

  Oil prices continued to plummet on Wednesday, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude …

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• 7 July 2021 11:02 pm

  Gold Maintains Gains for Fifth Session in Row

  

  Gold prices maintained an upwards trend for the fifth consecutive session on Wednesday, despite the rise of the U.S. Dollar (USD) across the board. However, the yellow metal was supported by the drop in U.S. Treasury bond yields to their lowest level since February, amid higher demand for safe-haven investments, …

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• 7 July 2021 10:50 pm

  European Stocks Rebound and Near All-Time Closing High

  

  European stocks closed higher on Wednesday after the European Commission increased its expectations for economic growth in the Eurozone. The European Union is now projecting the Eurozone gross domestic product (GDP) to grow by 4.8% in 2021 and 4.5% for 2022. The STOXX Europe 600 index rose by 3.55 points, …

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• 7 July 2021 10:29 pm

  FOMC Minutes Show Inflation Could Remain Above 2% Beyond 2023

  

  Minutes of the Federal Open Market Committee (FOMC) June meeting showed participants focused on data showing lower employment growth and higher inflation readings than had been expected. The median expectation is that the Federal Reserve will begin tapering its asset purchases in the first quarter (Q1) of 2022, before ending …

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• 7 July 2021 9:13 pm

  IBD/TIPP Economic Optimism Drops in July

  

  U.S. consumer confidence declined this month, as the IBD/TIPP Economic Optimism Index dropped 3.7% from 56.4 in June to 54.3 in July. Nevertheless, the index remained in the positive territory, above 50.0, for the seventh consecutive month. The Presidential Leadership Index fell by 8% from 61.2 last month to 56.3, …

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• 7 July 2021 8:31 pm

  Canada’s Ivey PMI Rebounds in June

  

  Economic activity in Canada expanded last month showing more signs of recovery, Ivey Purchasing Managers Index (PMI) data showed on Wednesday. The Canadian seasonally adjusted Ivey Purchasing Managers’ Index (PMI) increased in June to 71.9 from 64.7 in May. This marked the highest reading for the index since March. The …

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• 7 July 2021 8:03 pm

  U.S. Job Openings Hit Record High in May – JOLTS

  

  Job openings in the United States increased to hit a new record high in May, data by the U.S. Department of Labor showed on Wednesday. The Job Openings and Labor Turnover Survey (JOLTS) monthly report showed that job openings rose by 16,000 to reach 9.2 million by the end of …

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• 7 July 2021 6:05 pm

  Japan Considers Declaring a State of Emergency in Tokyo Before The Olympics

  

  Japan is considering banning all spectators from participating in the Olympics, Reuters reported on Wednesday, with authorities expected to declare a state of emergency in Tokyo to contain coronavirus cases 16 days before the Olympic Games. In this regard, Prime Minister Yoshihide Suga said that his government will decide on …

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• 7 July 2021 4:55 pm

  No OPEC+ Ministerial Meeting Planned This Week – TASS

  

  According to Russian news agency TASS, OPEC+ producers will not be holding a meeting this week to break the impasse in the output strategy. “This week will be difficult. Negotiations are in progress, and there are no signs yet that the meeting will take place this week. The problem remains …

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• 7 July 2021 3:58 pm

  The EverGiven Crisis Settlement Agreement Formally Signed Between The Ship-Owning Company And The Suez Canal

  

  The Suez Canal Authority signed an agreement with the company that owns the Panamanian container ship EverGiven on secret terms that were not disclosed, during a meeting held by the authority on Wednesday, July 7, in the presence of the Authority’s Chairman Osama Rabie and representatives of the Japanese company …

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• 7 July 2021 3:01 pm

  German Finance Ministry: Global Tax Reform to Take Effect in 2023

  

  German Finance Minister Olaf Scholz said on Wednesday said that the global tax reform will happen “very quickly “and become a practice in 2023. “Do not expect hurdles to moving ahead with a planned global tax reform at a G20 meeting in Venice.”

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• 7 July 2021 2:31 pm

  EU Commission Revises up Estimates For Eurozone Growth And Inflation

  

  The European Commission is out with its latest quarterly economic projections, raising the Eurozone growth and inflation estimates for this year while warning about the risks posed by new variants of the coronavirus. Raises forecast for Eurozone GDP growth to 4.8% in 2021 from 4.3%, to 4.5% in 2022 from …

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• 7 July 2021 1:06 pm

  The Euro Near a 3-Month Low After German Data

  

  The euro traded near a three-month low against the dollar on Wednesday after German data raised doubts about the strength of the economic recovery, while the US currency awaited the minutes of the Federal Reserve’s latest meeting. The single European currency was trading at $1.1820, after touching a three-month low …

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