Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 18 May 2021 9:10 pm

  Canadian Exporters Foresee More Gains for CAD

  

  The Canadian market is seeing increasing expectations that the Canadian Dollar (CAD) will maintain its recent against the U.S. Dollar (USD), which is prompting more exporters to adjust their currency hedges, according to a recent report by Bloomberg. Since the beginning of 2021, the loonie gained about 6% against its …

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• 18 May 2021 7:48 pm

  Lagarde: ECB Committed to Protecting Europe’s Economy

  

  The European Central Bank (ECB) President, Christine Lagarde, said on Tuesday that the economic recovery in the Eurozone remains challenged by uncertainty, which requires continuous support from market authorities. Lagarde believes it is essential that the “monetary and fiscal support are not withdrawn too soon,” ruling out expectations of reducing …

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• 18 May 2021 7:15 pm

  USD Maintains Negative Trend for the Third Day

  

  The U.S. Dollar (USD) maintained a negative performance on Tuesday, failing to recover his recent losses against major peers for the third consecutive session as Treasury bond yields stalled. Federal Reserve officials, including Robert Kaplan and Richard Clarida, recently reiterated the message that the central bank does not expect to …

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• 18 May 2021 6:11 pm

  European Stocks Recorded New Highs

  

  European stocks made new highs after the pandemic, and cyclical heavy national indices benefited from the gradual shift in global investor preferences for value overgrowth. The German DAX also hit an all-time high as the country’s Constitutional Court effectively drew a line under the euro critics’ attempts to halt the …

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• 18 May 2021 4:57 pm

  US: Housing Starts Decline in April

  

  Housing Starts in the US declined by 9.5% on a monthly basis in April following March’s sharp increase of 19.8% (revised from 19.4%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Tuesday. Further details of the publication revealed that …

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• 18 May 2021 4:56 pm

  Gold Rallied After US Housing Data

  

  The price of gold rose today after the less-than-expected home building permits data. Homebuilding permits decreased to 1,760 million, compared to an expected 1,770 million. Housing Starts fell 9.5% in April. Gold is receiving from the increasing US dollar index its weakness, in light of weak US data, and expectations …

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• 18 May 2021 3:47 pm

  Dollar Near a Multi-Month Low as Expectations of Interest Rate Stabilization Grow

  

  The dollar fell to its lowest level in six years against the Canadian dollar and near its lowest level in several months against European currencies on Tuesday, as US Treasury yields stabilized amid renewed expectations that the United States will not raise interest rates soon. Robert Kaplan, head of the …

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• 18 May 2021 2:59 pm

  Gold Reaches a 4-Month High Supported by Falling Dollar And Inflation Concerns

  

  Gold prices rose on Tuesday and reached their highest levels in nearly four months during the session, supported by the weakening of the US dollar and investors’ use of the metal, which does not yield a return, to hedge against rising inflation. Spot gold rose 0.2% to $ 1868.30 an …

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• 18 May 2021 2:19 pm

  Eurozone GDP Contracts In Q1

  

  The eurozone economy shrank by 0.6% on a quarterly basis in the three months to March 2021, in line with expectations of -0.6%, a second estimate confirmed on Tuesday. On an annual basis, the bloc’s GDP decreased by 1.8% in Q1 versus -1.8% initiallyy in line with market expectations of …

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• 18 May 2021 1:31 pm

  Japan Shares Jumped as Investors Ignored The GDP Data

  

  Japanese stocks jumped today, as investors ignored data that showed that the economy was back in contraction, and they turned to stocks whose valuations were damaged in recent waves of selling. The Nikkei rose 2.09% to close at 28,406.84 points, recovering from its lowest level in four months, which it …

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• 18 May 2021 1:18 pm

  Brent Crude Oil Above $70 a Barrel For The First Time Since March 5

  

  Brent crude futures rose above the level of $70 a barrel for the first time since last March, as hopes for a strong recovery in fuel demand after the resumption of economic activities in the United States and Europe were offset by concerns about the spread of Covid-19 cases in …

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• 18 May 2021 3:10 am

  How is Elon Musk Impacting the Cryptocurrencies Scene?

  

  Bitcoin rebounded on Monday, recovering from the lowest level for the cryptocurrency in about three months, after recent steep declines. The largest cryptocurrency in the world in terms of market capitalization was hit hard by the decision of Tesla, owned by billionaire and major supporter of digital currencies Elon Musk, …

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• 17 May 2021 11:42 pm

  U.S. Treasury Bond Yields Rise but Little Changed

  

  Treasury bond yields in the United States stabilized on Monday, as expectations of rising interest rates were cooled down by recent remarks by Federal Reserve officials. This comes following a surge in the return on the long-term debt instrument, which was the largest in nearly two months. Markets are anticipating …

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