Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 1 July 2021 1:21 pm

  Dollar Hits 15-Month High Against Yen as US Jobs Data Nears

  

  The dollar hit a 15-maonth high against the yen and hovered near a multi-month peak against other major peer currencies on Thursday, July 1, ahead of a major US jobs report that could provide clues as to when the Fed will begin to scale back stimulus. The US currency rose …

  Read More »
• 1 July 2021 12:40 pm

  Oil Prices Rise Ahead of OPEC+ Decision to Cut Supplies

  

  Oil prices rose on Thursday, July 1, buoyed by falling US inventories, as investors awaited a decision from major producers on whether to maintain or ease supply cuts in the second half of the year. Brent crude for September delivery gained 15 cents, or 0.2%, to $74.77 a barrel, while …

  Read More »
• 1 July 2021 12:15 pm

  Japan Shares Fall on Slowdown Fears Due to Rising Coronavirus Cases

  

  Japanese stocks closed lower Thursday, July 1, as they were pressured by concerns that a rise in COVID-19 infections could extend restrictions and slow economic recovery. The Nikkei index fell 0.29% to 28,707.04 points, while the broader Topix index fell 0.22% to 1939.21 points. Japan is likely to extend coronavirus …

  Read More »
• 1 July 2021 2:56 am

  Fed’s Kaplan Supports Smooth Tapering Soon

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, hopes tapering could begin soon, telling Bloomberg on Wednesday that the reducing asset purchases will be smooth and not shock the market. “I want it to get out into the market, and I think this debate we’re having at the …

  Read More »
• 1 July 2021 2:42 am

  Ford to Shut Down North American Plans Due to Semiconductors Shortage

  

  Ford Motor plans to shut down several of its factories in North America due to the global shortage of semiconductors. The closure will take place for a few weeks over the course of July and August. The supply disruption might cost the company as much as $2.5 billion this year, …

  Read More »
• 1 July 2021 2:33 am

  S&P 500 Hits New Record High with Best Performance Since 1998

  

  The main indices of the New York Stock Exchange (NYSE) continued to show a mostly strong performance on Wednesday, with the S&P 500 index registering its 34th record close this year, and while the Nasdaq declined and failed to continue to the record breaking activity, the Dow Jones came close …

  Read More »
• 1 July 2021 1:06 am

  USD Scores Large Gains Following ADP Employment Report

  

  The U.S. Dollar (USD) rose on Wednesday to its highest level in about two and a half months to score large monthly gains against major peers. The greenback in June registered its biggest rise since November 2016, rising by about 3%. The Dollar Index (DXY), which measures the USD’s performance …

  Read More »
• 1 July 2021 12:05 am

  Oil Settles Higher Following Inventory Data

  

  Oil prices finished higher on Wednesday, after data showed that U.S. crude inventories declined for the sixth consecutive week. Markets are anticipating the decision by members of the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies on output curbs. Brent crude futures for September delivery gained 34 …

  Read More »

June, 2021

• 30 June 2021 11:39 pm

  Gold Futures Fall for the Month to Limit Quarterly Gains

  

  Gold prices rose on Wednesday, amid the U.S. Dollar (USD) decline across the board, but showed a varied performance on the monthly and quarterly levels. The yellow metal’s front month contract for July delivery added $8.00, or 0.45%, to settle at $1,770.80 per ounce. This marked the biggest daily gain …

  Read More »
• 30 June 2021 10:22 pm

  European Stocks Maintain Monthly and Quarterly Gains

  

  European stocks closed lower on Wednesday, amid concerns about the rising number of coronavirus cases, especially of the Delta variant, as well as reflation fears. The STOXX Europe 600 index lost 3.53 points, or 0.77%, and closed at 452.84 points. This market the biggest daily loss for the pan-European index …

  Read More »
• 30 June 2021 9:40 pm

  Chicago PMI Hits Four-Month Low in June

  

  The Chicago Business Barometer Index declined in June to 66.1 from 75.2 in May, hitting a four-month low, data showed on Friday. During the second quarter (Q2) of the year, the Purchasing Manager Index (PMI) rose by 7.9 points to 71.1, according to ISM-Chicago. This marked the highest quarterly reading …

  Read More »
• 30 June 2021 8:30 pm

  U.S. Oil Inventories Down for Sixth Straight Week

  

  Crude oil inventories in the United States declined last week for the sixth consecutive week, according to official data. The U.S. Energy Information Administration (EIA) on Wednesday reported that crude inventories fell by 6.7 million barrels in the week to June 25. The drop in oil inventories exceeded most market …

  Read More »
• 30 June 2021 7:17 pm

  U.S. Pending Home Sales Surge in May

  

  U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday. The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors. The surge in the gauge of contracts signed last month came against …

  Read More »