Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2021

• 17 November 2021 2:35 am

  WTI Crude Recovers On Cushing Inventories

  

  The American Petroleum Institute (API) reported a small inventory build in crude oil that was just enough to keep the market from panicking because of declining inventories. This week, the API estimated the inventory for crude oil to be 655,000 barrels.U.S. crude inventories are now 60 million barrels below the …

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• 17 November 2021 2:14 am

  UK CPI Data Carries Three Scenarios for GBP/USD

  

  The British pound has a very busy week as traders digest employment data, Tuesday, inflation on Wednesday and retail sales on Friday.Economists expect 3.9% UK inflation for October, strengthening rate hike by BoE’s December meeting to suggest three scenarios:1. Within expectations: A reading between 3.6% to 4.4% meets estimates. In …

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• 17 November 2021 1:11 am

  Biden: Had a “good meeting” with China’s Xi

  

  US President Joe Biden said on Tuesday that he had a good meeting with Chinese President Xi Jinping. Biden said that he and Xi have a lot to follow up on and that their aides would be working together on a range of issues. Biden added that he made clear …

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• 17 November 2021 12:59 am

  Daly: Fed Should Handle Rate Hike Patiently

  

  San Francisco Fed President Mary Daly called for the Federal Reserve to be patient regarding interest rate hikes despite high inflation.In a speech before the Commonwealth Club of California, Daly said that patience is the boldest and best action and that it would be better to wait for more clarity …

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• 17 November 2021 12:47 am

  US Builder Confidence Backed By Soaring Demand

  

  The US National Association of Home Builders said, Tuesday, that builder confidence in the new home sales market increased in November for the third successive month despite several challenges builders are encountering in the construction market as the NAHB/Wells Fargo Housing Market Index rose 3 points from its October level …

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• 16 November 2021 11:43 pm

  GBP/USD Surges By Strong UK Jobs Data

  

  Following Tuesday’s strong retail sales and industrial production readings, the GBP/USD pair has fallen back from earlier session’s highs in the 1.3470s and is back trading around 1.3430s. Earlier during the European trading session, the pair had surged as much as 0.5%, boosted by a strong labour market report that …

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• 16 November 2021 11:13 pm

  Canada’s Rate Hike Not As Soon As Expected

  

  The Bank of Canada is still expecting economic easing to be absorbed in the middle quarters of 2022, but that does not necessarily mean in the second quarter according to statements by a key deputy governor on Tuesday, potentially dashing traders and investors; hopes across the market concerning an early …

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• 16 November 2021 11:01 pm

  Biden’s Pick for Fed Chair Imminent

  

  Jerome Powell and Lael Brainard are widely believed to be the two frontrunners for the Fed Chair’s position. No other names have leaked to the public according to key media outlets in Washington DC.Brainard, if appointed, would be the second woman to head the US Federal Reserve Bank, following Treasury …

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• 16 November 2021 10:46 pm

  Commodities Impact Worldwide Inflation

  

  A sharp surge in natural gas prices since August has put pressure on a set of commodities, including crude oil, coal and electricity. Prices are currently squeezing margins for industrial users. Some industrial activities have contributed to higher prices for other commodities, such as base metals and ammonia as output …

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• 16 November 2021 9:49 pm

  What World’s Biggest Economies Expect From Biden-Xi Summit

  

  One of US President Joe Biden’s toughest challenges is maneuvering America’s relationship with its biggest economic enemy; namely China. when Biden holds a virtual summit with Chinese counterpart Xi Jinping later on Monday, issues such as tariffs, supply chain bottlenecks, subsidies, Chinese property sector debt crisis and the global energy …

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• 16 November 2021 8:44 pm

  Wall Street Rises After Strong Retail Sales

  

  US shares reaped fresh gains on Tuesday, with investors and traders digesting key economic data on the state of the consumer after two major retailers topped quarterly corporate earnings results. The S&P 500 rose 0.3% as of 10:15 a.m. Eastern. The Dow Jones Industrial Average rose 158 points, or 0.5%, …

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• 16 November 2021 8:11 pm

  Bitcoin Slides After Chinese Warning, US Law

  

  Bitcoin fell around $60,000 on Tuesday, after it had been hit by a blend of bearish factors, including the US infrastructure bill that imposes tougher rules on cryptocurrencies trading taxes and a new warning from China to firms regarding mining.Bitcoin fell by more than 10% at one point, dropped below …

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• 16 November 2021 7:34 pm

  USD Index Pushes Higher Led By Positive Data

  

  On Tuesday, the US Dollar Index (DXY), which tracks the USD’s performance against major rival currencies, advances to fresh highs and levels last recorded in late July 2020 in the 95.80/85 band.The USD Index has been largely supported by treasury yields, and the latest positive economic data. The index extends …

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