Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 21 June 2021 12:20 pm

  Cryptocurrencies Plummet as Chinese Crackdown on Bitcoin Mining

  

  Cryptocurrencies tumbled Monday as China’s crackdown on bitcoin mining activity spilled over into Sichuan Province. Bitcoin fell to as much as 32,288 dollars for the first time since June 8, and it was in the latest trading, down 7.9% at about 32,781 dollars. Its smaller peer, Ethereum, fell below $2,000 …

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• 21 June 2021 2:30 am

  Weekly Recap: 14-18 June

  

  Last week witnessed an event that had been anticipated by markets for some time, as the Federal Reserve policy meeting surprisingly saw a hawkish change in tone with the Federal Open Market Committee (FOMC) seeing interest rate hikes sooner than previously expected. The Fed is now expecting raising interest rates …

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• 19 June 2021 3:14 am

  Fed Officials Express Varied Opinions on Rate Hikes

  

  The President of the Federal Reserve Bank of St. Louis, James Bullard, is expecting an interest rate hike in 2022, due to the rise in inflation rate above the 2% target. “We were expecting a good year, but this is a bigger year than we were expecting, more inflation than …

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• 19 June 2021 2:19 am

  Wall Street Record Weekly Losses on Fed’s Hawkish Tone

  

  The main indices of the New York Stock Exchange (NYSE) closed lower on Friday, amid concerns about the hawkish tone by the Federal Reserve, with Wall Street worrying about raising interest rated sooner than expected. The Dow Jones Industrial Average declined by 533.37 points, or 1.58%, and closed at 33,290 …

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• 19 June 2021 12:13 am

  Oil Maintains Gains for Fourth Week in Row

  

  Oil prices rebounded on Friday, with crude futures recovering on the back of positive expectations for demand recovery despite the U.S. Dollar (USD) surge after the hawkish change in tone by the Federal Reserve. Brent crude futures for August delivery increased by 43 cents, or 0.6%, and closed at the …

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• 18 June 2021 11:04 pm

  Gold Registers Losses for Third Week in Row

  

  Gold prices declined on Friday for the second session in a row, as the U.S. Dollar (USD) continued to rise against major currencies, extending the downward trend for the third consecutive week. The yellow metal’s most active contract finished the week at its lowest closing level in about seven weeks. …

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• 18 June 2021 9:26 pm

  Italy’s PM Calls for More Stimulus to Support Recovery

  

  The Prime Minister of Italy, Mario Draghi, has called for more stimulus in Europe to restore pre-pandemic economic growth. The former President of the European Central Bank (ECB) believes the lingering uncertainty provides ground for more monetary and fiscal stimulus, calling for extra efforts. Draghi says that after protecting the …

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• 18 June 2021 8:57 pm

  European Stocks Bear Highest Weekly Loss since Late February

  

  European stocks maintained a downward trend on Friday, with the banking and energy stocks leading the losses following the hawkish change in tone by the U.S. Federal Reserve, which prompted concerns about raising interest rates sooner than expected. The STOXX Europe 600 index plunged by 1.58% as it closed at …

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• 18 June 2021 7:55 pm

  BoE Could Begin Raising Interest Rates in 2022

  

  The Bank of England (BoE) is expected to begin raising interest rates in the second or third quarter of next year, according to recent forecasts by a number of major banks, Bloomberg reported. The Bank of America Merrill Lynch (BofA) and Credit Suisse previously ruled out a rate hike before …

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• 18 June 2021 7:22 pm

  ECB Extends EUR 70 B Capital Relief Measures for Nine Months

  

  The European Central Bank (ECB) has extended a EUR 70 billion capital relief measures for Eurozone banks for another nine months. ECB will allow 39 banks to continue excluding holdings at central banks in calculating the mandatory leverage ratios. The measure which helps lenders supply credit amid recovery from the …

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• 18 June 2021 5:28 pm

  Sources to Reuters: OPEC Has Been Informed That it Expects Limited Growth in US Oil Production at Present

  

  OPEC sources said that OPEC officials have heard from industry experts that US oil production growth will likely remain limited in 2021 despite higher prices, giving the organization more leverage to manage the market in the short term before a possible strong increase in shale crude production in 2022. Officials …

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• 18 June 2021 4:48 pm

  Gold Makes Up For Some of Its Losses On Dollar

  

  Gold prices rose today, Friday, by 1%, as the pause in the dollar’s rise to catch its breath compensated for some of its large losses driven by the US Federal Reserve’s shift towards a monetary tightening tone. Spot gold rose 1.1% to $1,792 an ounce but fell 4.5% for the …

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• 18 June 2021 3:54 pm

  Britain Records a Significant Increase in Infections With the Delta Variant

  

  Data from the Public Health Authority in Britain revealed a significant new increase in weekly infections with the Delta strain of the Coronavirus after Prime Minister Boris Johnson decided to postpone the final lifting of the restrictions on the general closure. The Public Health Authority detected 33,630 new infections with …

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