Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 9 July 2021 10:30 pm

  Gold Scores Third Weekly Rise in Row

  

  Gold prices rose on Friday to maintain its rising trend for the third consecutive week, amid increased demand for safe havens due to concerns about the economic recovery. A decline by the U.S. Dollar (USD) across the board also provided support to the yellow metal amid a decline in the …

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• 9 July 2021 10:00 pm

  European Stocks Rebound to Recover Most Weekly Losses

  

  European stocks rebounded on Friday, recovering from their recent losses that resulted from fears regarding economic recovery, amid an improvement in the risk sentiment among investors. The STOXX Europe 600 index gained 6.06 points, or 1.34%, to close at 457.67 points. This marked the biggest index for the pan-European index …

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• 9 July 2021 9:27 pm

  Fed Monetary Policy Report Acknowledges Higher Inflation Risks

  

  The United States Federal Reserve presented its semi-annual Monetary Policy Report to Congress on Friday. The report pointed to the progress in vaccination against the coronavirus (COVID-19) and how it has helped a rebound in growth by reopening the economy, with the accommodative monetary and fiscal policy. Nevertheless, the pandemic …

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• 9 July 2021 7:23 pm

  U.S. Wholesale Inventories Surge 1.3% in May

  

  Wholesale inventories in the United States increased by 1.3% during May, with businesses trying to keep up with the rising demand amid recovery from the pandemic, data showed on Friday. Meanwhile, wholesale sales grew by 0.8% compared with the previous month, and by 37% on an annual basis. Durable goods …

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• 9 July 2021 6:07 pm

  The Dollar Index Settled Above 92 Points For The Second Week in a Row

  

  The movement of the US dollar stabilized against other major currencies, during trading at the end of the week on Friday. Thus, the DXY dollar index is trading above 92.00 points for the second week in a row, with the current week ending slightly lower compared to last week. The …

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• 9 July 2021 5:27 pm

  US Bond Yields Are Back on The Rise

  

  US Treasury yields rebounded on Friday, easing some concerns about the global economic slowdown caused in part by a sudden drop in yields in recent months, and the yield on the benchmark 10-year Treasury bond rose 5 basis points to 1.336%, and the yield on the Treasury bond rose by …

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• 9 July 2021 4:33 pm

  ECB Accounts: Members Debated Reducing Bond Purchases in June Meeting

  

  The European Central Bank (ECB) released the accounts of its June monetary policy meeting on Friday, with the key highlights found below, per Reuters. Concerns expressed that any change in net purchases not based on improvement in inflation outlook would lead to unwarranted tightening of financial conditions.Financing conditions were assessed …

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• 9 July 2021 3:30 pm

  PBOC Cuts RRR by 50 bps

  

  In an unexpected move, the People’s Bank of China (PBOC) cut the Reserve Ratio Requirement (RRR) for banks by 50 bps with effect from July 15. Weighted average RRR for all financial institutions at 8.9% after the new cut.

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• 9 July 2021 2:47 pm

  Chinese Car Sales Fell For The Second Month in June, by 12.4%

  

  The decline in Chinese auto sales increased by 12.4% in June for the second month in a row, after falling by 3% in May. Data from the China Association of Automobile Manufacturers Friday (July 9) showed that sales in China, the world’s largest auto market, totaled 2.02 million vehicles sold …

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• 9 July 2021 2:15 pm

  Gold Heading For Its Third Weekly Gain Due to Lower Yields And Virus Fears

  

  Gold rose in volatile trading Friday, July 9, heading for gains for the third consecutive week, as the safe-haven allure of the yellow metal was boosted by concerns about the fast-spreading delta smoothing from Covid-19 and a drop in US Treasury yields. Spot market rose 0.1% to $ 1803.92 an …

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• 9 July 2021 1:39 pm

  UK Economic Growth Slows in May to 0.8%

  

  The British economy slowed down in May 2021 to 0.8%, compared to expectations of 1.5%. May marks the fourth consecutive month of growth in British GDP, but leaves the economy far from pre-pandemic levels by about 3.1%. Growth was slower than in April, which was revised down from 2.3% to …

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• 9 July 2021 1:14 pm

  European Shares Rise at The End of a Week of Turmoil

  

  European shares rose on Friday, July 9, as investors bought, after one of the worst sell-offs in the market since the beginning of the year, amid concern over the stalled global economic recovery. The pan-European STOXX 600 index rose 0.8%, as sectors hit by the drop this week saw gains, …

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• 9 July 2021 12:39 pm

  Mixed Performance of Oil in Light of The Decline in US Stocks And The Lack of an OPEC+ Agreement

  

  Oil prices varied on Friday, July 9, and are still on track to incur a weekly loss, between optimism due to the decline in US inventories, and uncertainty about global supplies due to the impasse currently afflicting OPEC +. Brent crude futures fell only three cents to $74.09 a barrel, …

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