Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 9 June 2021 10:46 am

  China Strongly Opposes US Bill Addressing Beijing’s Tech Threat

  

  China’s parliament expresses strong indignation and resolute opposition to the US bill addressing technology threat from Beijing, per Xinhua News Agency. China’s response comes after “the US Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology,” …

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• 9 June 2021 10:21 am

  China’s PPI Beats Expectations

  

  China’s producer price index for May rose 9% from a year earlier, against expectations of an increase of 8.5% in a Reuters poll, marking the strongest rise for the index since 2008, when the index rose 9.13% in September. The country’s consumer price index in May rose 1.3% from a …

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• 9 June 2021 4:21 am

  A Closer Look into April’s JOLTS Report

  

  Job openings in the United States surged in April to a new record, with the economy showing more signs of recovery from the coronavirus pandemic. Reopening businesses and an increased rollout of vaccines have helped economic activity create more work opportunities. The Job Openings and Labor Turnover Survey (JOLTS) showed …

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• 8 June 2021 6:06 pm

  World Bank: Global Growth to Reach 5.6% in 2021

  

  In its latest Global Economic Prospects report, the World Bank said it forecasts the global economic growth to reach 5.6% in 2021, the strongest post-recession pace in 80 years, following the 3% contraction recorded in 2020, per Reuters.

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• 8 June 2021 5:25 pm

  Canada: International Trade Surplus Widens to C$0.59 Billion in April

  

  Canada’s merchandise trade surplus with the world widened to C$0.59 billion in April from a deficit of C$1.35 billion in March, the monthly data published by Statistics Canada revealed on Tuesday. This reading came in better than the analysts’ estimate for a deficit of C$0.8 billion.

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• 8 June 2021 5:16 pm

  US: Goods And Services Trade Deficit Narrows to $68.9 Billion in April

  

  The goods and services deficit of the US declined by $6.1 billion to $68.9 billion in April from $75 billion in March, the US Census Bureau reported on Tuesday. This reading came in slightly better than the market expectation of $69 billion.

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• 8 June 2021 4:59 pm

  Currency Market Volatility Fell to Pre-Pandemic Lows And Traders Waiting For New Signals

  

  Currency market volatility fell on Tuesday, June 8 to its lowest level since before the outbreak of the Corona pandemic, causing turmoil in the markets in March 2020, as investors refrained from forming positions, waiting for clearer signals about the path of inflation and the reactions of central banks. Currencies …

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• 8 June 2021 4:02 pm

  The U.S to Launch ‘Strike Force’ Targeting China Aimed to Combat Unfair Trade Practices

  

  White House is planning to launch a new “strike force” to combat unfair trade practices, mainly targeting China, Reuters reports, citing senior administration officials.

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• 8 June 2021 4:00 pm

  German ZEW Economic Sentiment Index Drops Unexpectedly to 79.8

  

  The German ZEW headline numbers for June showed that the Economic Sentiment Index worsened unexpectedly to 79.8 from 84.4 previous while beating estimates of 86.0. Meanwhile, the Current Conditions sub-index recovered firmly to -9.1 in June as against -40.1 recorded in the previous month and -27.8 expectations.

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• 8 June 2021 3:09 pm

  Bitcoin Records a Record Outflow of 141 Million Dollars in a Week

  

  Data from cryptocurrency management CoinShares released Monday showed that bitcoin funds and products saw a record outflow of inflows last week as investors remained wary of the world’s largest cryptocurrency. Bitcoin outflows amounted to $141 million in the week ending June 4th, representing 8.3% of the net inflows it attracted …

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• 8 June 2021 2:21 pm

  German Industrial Output Fell by 1%, Contrary to Expectations in April

  

  German industrial output unexpectedly fell in April, data showed, in a sign that semiconductor shortages and other supply bottlenecks are undermining the recovery of Europe’s largest economy. The Federal Statistics Office said industrial output fell 1% compared to the previous month, after an increase that was revised down to 2.2% …

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• 8 June 2021 1:36 pm

  Utilities And Telecommunications Support European Shares

  

  European shares rose on Tuesday, June 8, boosted by utilities and telecoms companies, but weak German industrial output and doubts about a UK lifting of restrictions later this month capped gains. The European Stoxx600 index rose 0.2% by euro morning, holding below its highest level ever, while sectors considered more …

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• 8 June 2021 1:07 pm

  Oil Falls on Doubts About Recovery in Demand

  

  Oil prices extended losses on Tuesday, June 8, as Chinese data revealing a decline in the country’s imports of crude in May highlighted concern about the fragility of the global recovery in demand for crude and fuel. Brent crude was down 49 cents, or 0.7%, at $71 a barrel, after …

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