Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 28 May 2021 4:36 pm

  US Annual Core PCE Inflation Jumps to 3.1% in April

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.6% on a monthly basis in April. This reading came in higher than the market forecast of 0.2%. On a yearly basis, the PCE Price Index rose to 3.6% from 2.4%, compared to …

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• 28 May 2021 4:18 pm

  Oil Rises to Support Positive Demand Outlook Facing Supply Concerns

  

  Oil prices rose on Friday, May 28, and Brent crude remained intact near the level of $ 70 a barrel, as positive US economic data and expectations of a recovery in global demand overshadowed concerns about an increase in supplies from Iran when sanctions are lifted. Brent rose 24 cents, …

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• 28 May 2021 3:11 pm

  Bitcoin is Down 8%, as it Heads Towards Its Biggest Monthly Loss Since September 2011

  

  Bitcoin fell on Friday May 28 to its lowest level this week, pushing losses from a growing campaign against it in China and environmental concerns to nearly 40% since the start of the month. The largest cryptocurrency added to its previous losses, dropping 8.2% to $ 35,339, as it remained …

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• 28 May 2021 2:45 pm

  Eurozone Sentiment is at a 3-Year High

  

  Data on Friday, May 28, showed economic sentiment in the eurozone improved more than expected, hitting a three-year high in May, with the biggest increases in the services, retail, and consumer sectors as governments eased pandemic-related restrictions. The European Commission’s index of economic sentiment rose to 114.5 in May from …

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• 28 May 2021 1:42 pm

  European Stoxx600 Index Rises 0.4% to a New Record High

  

  European markets rose to record levels as global stocks were affected by strong economic data out of the US this week. The pan-European Stoxx600 index rose 0.4% in early trading, surpassing its record high on Thursday, and insurance stocks rose 1.2% to lead the gains as all sectors except the …

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• 28 May 2021 1:41 pm

  The Turkish Lira Rises by More Than 1% And Compensates For Some of Its Losses

  

  The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy. The lira reached 7.8650 dollars against the …

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• 28 May 2021 12:40 pm

  Gold Falls on The Rise of The Dollar And Bond Yields Ahead of The release of US Inflation Data

  

  Gold prices fell on Friday, May 28th, as the dollar and US Treasury yields rose, while investors awaited the release of personal consumption data in the United States later in the day for indications of inflationary pressures. Gold fell in spot transactions 0.2% to $ 1891.45 an ounce. The metal …

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• 28 May 2021 12:20 pm

  Japan Shares Close Higher With Growing bets on Recovery on Vaccine

  

  Japanese stocks closed higher on Friday, May 28, as investors flocked to stocks linked to the wave of selling launched in the previous session by an adjustment by MSCI, while progress in the launch of vaccines raised risk appetite in hopes of a rapid economic recovery. The Nikkei index rose …

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• 28 May 2021 5:50 am

  Fed’s Reverse Repurchase Facility Surges to New All-Time High

  

  Cash flows into the New York Federal Reserve’s reverse repurchase (RRP) facility hit a new record high at $485 billion on Thursday, according to recent reports. The development is increasing the pressure on key interest rates that could decline into the negative territory below zero. The previous all-time high was …

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• 28 May 2021 2:09 am

  EIA Expects Higher Demand and Fuel Price Hike

  

  The United States Energy Information Administration (EIA) has projected that energy prices will continue to rise on increased demand, according to its latest outlook report. The EIA now expects the global demand for fuel will reach 97.7 million barrels per day, rising by 5.4 million barrels per day compared to …

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• 28 May 2021 12:03 am

  Oil Maintains Gains for Fifth Session to Reach Highest Level Since 2018

  

  Oil prices rose on Thursday for the fifth consecutive session, with economic data boosting hopes for recovery. Specifically, the U.S. GDP data, which showed a growth rate of 6.4%, provided support to crude oil prices, as well as the drop in jobless claims. Brent crude futures for July delivery rose …

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• 27 May 2021 11:01 pm

  Gold Sees First Loss in Four Sessions

  

  Gold prices declined on Thursday after three consecutive rises, losing the $1,900 level, as the U.S. Dollar (USD) strengthened with the Treasury yields rising. The yellow metal futures for June delivery lost $5.5, or 0.3%, to close at $1,895.70 per ounce. Gold futures for August delivery also dropped $5.30, or …

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• 27 May 2021 9:57 pm

  Kansas Fed Manufacturing Index Declines

  

  The Tenth District manufacturing activity maintained growth during May, expanding at a strong pace, with positive expectations for future activity, according to the Federal Reserve Bank of Kansas. However, the monthly composite index declined to 26 this month, from 31 in April. Factory activity expanded on an annual basis, maintaining …

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