Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2021

• 24 September 2021 11:59 pm

  USD/CAD struggles at 1.2700

  

  Market sentiment dampened the appetite for high beta currencies like the Canadian dollar, so, the USD/CAD pair has dropped 40-pips on the back of the climb to new monthly highs recorded by West Texas Intermediate crude oil.In the next week, the Canadian GDP report will be the major focus of …

  Read More »
• 24 September 2021 11:43 pm

  Closing prices of gold, crude oil and other commodities

  

  The U. S. dollar rose to 110.79 Japanese yen from 110.24 yen. The euro fell to USD 1.1716 from USD 1.1747.U.S. crude oil for November delivery rose 68 cents to USD 73.98 per barrel on Friday. Brent crude oil for November delivery rose 84 cents to USD 78.09 per barrel.Wholesale …

  Read More »
• 24 September 2021 11:26 pm

  China: All Cryptocurrencies, including Bitcoin, illegal

  

  China’s central bank declared all transactions involving Bitcoin and other virtual currencies illegal on Friday, stepping up a campaign to block use of unofficial digital money. Chinese banks were banned from handling cryptocurrencies in 2013, but the government issued a reminder this year.That reflected official concern cryptocurrency mining and trading …

  Read More »
• 24 September 2021 11:19 pm

  Senator: China’s Bitcoin crackdown is an opportunity for the U. S.

  

  China’s central bank has deemed all cryptocurrency transactions illegal, sending the Bitcoin price spiraling by 6%. U.S. Senator Pat Toomey believes this is a valuable opportunity for the United States to move out front on cryptocurrency. The People’s Bank of China is broadening its ban on the industry, especially Bitcoin, …

  Read More »
• 24 September 2021 10:41 pm

  Evergrande brings Chinese economy to a turning point

  

  Evergrande’s debt crisis is a convenient reminder to the world of the various frailties that still run through the Chinese economy.As the property company stumbles, the crucial question is whether those frailties will drag down the world’s second-largest economy. Risks have increased, not just of a slowdown but of permanently …

  Read More »
• 24 September 2021 10:05 pm

  Canadian and U. S. oil rig counts continue uptrend

  

  Baker Hughes has reported that for the current week ending on 24 September, the US rotary rig count increased by nine to 521 rigs.The Canadian rig count is now up by 91 rigs compared to the same week a year ago.The overall rig count is now up by 260 rigs …

  Read More »
• 24 September 2021 9:55 pm

  U.S. August’s new home sales beat expectations

  

  Sales of new U.S. single-family homes increased for a second straight month in August, but demand for housing has probably peaked after a COVID-19 pandemic-fueled temporary buying frenzy.Sales increased in August even as sales of existing homes fell. It could be a sign that buyers are turning to newly constructed …

  Read More »
• 24 September 2021 9:08 pm

  Stocks slip after S&P 500’s best day since July

  

  Stocks declined and gains stopped after equities’ best day since July, with some volatility returning to markets as regulators’ concerns rose in China at least temporarily counterbalance optimism over the U.S. economic recovery.The S&P 500 Index fluctuated between small gains and losses. A day earlier, stocks posted a back-to-back session …

  Read More »
• 24 September 2021 8:56 pm

  Powell: Economy Is Adjusting to Demands of a ‘New Reality’

  

  Federal Reserve Chair Jerome Powell said the U.S. economy is experiencing “fundamental shifts” as people and businesses pivot to “meet the demands of a new reality.”Powell made the remarks Friday in a brief opening statement to a Fed Listens event. He didn’t comment on monetary policy or the economic outlook …

  Read More »
• 24 September 2021 8:51 pm

  Fed’s Powell says coronavirus recession with no precedent

  

  Federal Reserve Chairman Jerome Powell views the pandemic-induced recession as one of the sharpest and shortest downturns in history. Powell also indicated that the subsequent recovery is unprecedented.Speaking to representatives from a range of sectors, Powell acknowledged the various disruptions that COVID-19 has caused for businesses over the past 18 …

  Read More »
• 24 September 2021 8:03 pm

  Ten-year Treasury yield touches 1.45% amid parade of Fed speakers

  

  The 10-year Treasury yield have touched 1.45% on Friday to hit its highest level since July as investors continued to react to the Federal Reserve’s policy two days ago. Bond investors were particularly interested in the signal by the central bank that the tapering of $120 billion of monthly bond …

  Read More »
• 24 September 2021 7:48 pm

  Fed’s George: We are forecasting in a bit of a fog

  

  Kansas City Fed President Esther George said that the U.S. job market has already met the Federal Reserve’s benchmark test sufficiently to decrease its monthly bond purchasesزGeorge mentioned that the central bank should now turn to discussion of how its massive bondholdings may add complication to its eventual decision about …

  Read More »
• 24 September 2021 7:23 pm

  USD climbs as uncertainty over Evergrande swirls

  

  The U. S. dollar was on track for its biggest daily percentage gain against a basket of major currencies in a week during Friday’s sessions.Uncertainty over stressed Chinese Evergrande Group helped the USD bounce back from a sharp decline in the prior session. Evergrande owes $305 billion but has run …

  Read More »