Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 23 July 2021 9:48 pm

  U.S. Oil Rigs at Highest Level Since April 2020

  

  The number of crude oil and natural gas rigs in the United States increased for the fourth consecutive week, data showed on Friday. This is the first time that the total rig count registers four straight weekly rises since May. The total rig count rose by seven to 491 in …

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• 23 July 2021 9:12 pm

  CAD Limits Losses After Retail Sales Data

  

  The Canadian Dollar (CAD) is showing a mixed but mostly negative performance against the U.S. Dollar (USD) on Friday after data showed a better than expected slump in Canadian retail sales. In addition, with improving daily performance by oil futures, the Canadian is gaining relative support as a commodity currency …

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• 23 July 2021 7:45 pm

  Dollar Fluctuates in Positive Territory

  

  The U.S. Dollar (USD) is trading higher on Friday, maintaining a mostly positive performance against other currencies, in the absence of major economic data in the United States, other than the IHS Markit PMI. The flash U.S. Composite Output Index declined to 59.7 in July, down from 63.7 in June, …

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• 23 July 2021 6:55 pm

  US Stocks Open Higher on Friday

  

  Wall Street’s major indexes opened higher on Friday, boosted by big-cap technology stocks and risk flows continuing to dominate the markets, with the focus shifting to business activity data later in the day. The S&P 500 is up 0.45% today at 4,387, the Dow Jones Industrial Average is up 0.6% …

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• 23 July 2021 5:59 pm

  ECB Not Expected to End PEPP at Next Meeting

  

  Reuters reported on Friday that European Central Bank policymakers do not expect to decide on potential changes to the pandemic emergency purchase program (PEPP) at its September meeting, citing three sources familiar with the matter. Sources also indicated that a decision on PEPP would likely be made in October or …

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• 23 July 2021 5:29 pm

  WHO Urges the World to Cooperate Better with Covid Origin Investigation

  

  The World Health Organization said Friday (July 23) that all countries should cooperate to find out the origin of the coronavirus a day after China rejected the proposed scope of a second phase of the investigation. In response to a question about China’s refusal, said Tarik Yasarvic, a spokesman for …

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• 23 July 2021 4:42 pm

  Oil Prices Drop on Demand Concerns

  

  Oil prices fell from the level of $ 74 a barrel on Friday, July 23. Still, it is on track to end the week with little change, after rebounding from a sharp decline on Monday, supported by expectations that supply will remain tight despite the recovery in demand. Oil prices …

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• 23 July 2021 3:42 pm

  US Dollar on the Way to Weekly Gain

  

  The US dollar is on course to close the week slightly higher after a few days of volatility when it was hit by a shift in risk appetite, with the market now focused on the US Federal Reserve meeting next week. The dollar index rose 0.2% during the week and …

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• 23 July 2021 2:56 pm

  GBP/USD at Daily Lows on UK Retail Sales

  

  GBP/USD was struggling a little after the UK’s mixed retail sales figures and was trading close to daily lows, around 1.3700. GBP/USD was fairly unwavering after UK data, showing that Core Retail Sales rose 0.5% in June compared to 0.4% expected and -1.3% previously. On a yearly basis, UK retail …

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• 23 July 2021 1:46 pm

  European Stocks En Route to High Weekly Close

  

  European shares jumped this Friday, heading toward a high weekly close, with optimism over the business results season and the European Central Bank vowing to continue monetary support due to the high risks of the surge in Covid-19 cases. The STOXX Europe 600 index rose 0.4% by 07:19 GMT, hitting …

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• 23 July 2021 12:49 pm

  UK: Preliminary Manufacturing PMI Falls to 64.2 in July

  

  UK Manufacturing PMI came in below estimates at 60.4 in July.The UK Services PMI fell to 57.8 in July, below expectations. UK IHS Markit/CIPS Manufacturing Purchasing Managers’ Index fell to 60.4 in July vs. 62.5 expected and the final June figure of 63.9. The UK Services Business Activity Index for …

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• 23 July 2021 12:19 pm

  Gold Prices Heading for Weekly Loss on Greenback Rally

  

  Gold prices stabilized during trading Friday, July 23, but are heading for the first weekly decline in five weeks, as the rally in the dollar made the metal more expensive for holders of other currencies. The spot price of gold settled at $1807.45 an ounce by 06:34 GMT, recording a …

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• 23 July 2021 11:41 am

  Barclays Raises Its Oil Price Forecast

  

  Barclays Bank said on Thursday that supply and demand factors in the oil market predict a slow increase in prices over the next few months and raised its forecast for the price of crude oil in 2021 by between three and five dollars a barrel. “Oil prices could rise to …

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