Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 25 February 2021 1:13 pm

  Total CEO Expects $50-60 Per Barrel of Oil

  

  The CEO of Total said that the global economic recovery from the Coronavirus pandemic may take two years, ruling out that oil prices will remain at their current high level of $70 a barrel. Patrick Boyan told local media, “I am not betting that prices remain at $70 a barrel. …

  Read More »
• 25 February 2021 1:01 pm

  Mining And Banking Lead The European Markets Higher

  

  European stocks rose on Thursday, led by sectors seen as benefiting from a broader economic recovery as the US Federal Reserve indicated that it would maintain a loose monetary policy, while Standard Chartered shares fell as the bank’s annual earnings fell. The Bank of England lost 2.8% even after it …

  Read More »
• 25 February 2021 11:54 am

  PAHO: Coronavirus Cases in The Americas Decreased Last Week

  

  The Pan American Health Organization said on Wednesday that the number of cases and deaths of Covid-19 in the United States decreased 30% in the past week and is declining in most South American countries, but the effect of vaccines will take months. WHO director Carissa Etienne urged governments and …

  Read More »
• 25 February 2021 11:45 am

  Nikkei Rises to 30,000 Again With The Growing Optimism About The Economy

  

  Japan’s Nikkei index closed on Thursday above 30,000, after comments by Federal Reserve Chairman Jerome Powell indicated that interest rates would remain low for a long time. The benchmark Nikkei index rose 1.67% to 30,168.27 points. The broader TOPIX index rose 1.22% to 1,926.23 points. Powell told lawmakers on Wednesday …

  Read More »
• 25 February 2021 11:40 am

  Oil Hovering Near Highest Level in 13 Months as US Production Was Hit by a Storm

  

  Oil prices extended their gains for the fourth consecutive session and reached their highest levels in more than 13 months, supported by the US Central Bank’s assertion that interest rates will remain low, and a sharp drop in US crude production last week due to the storm that swept across …

  Read More »
• 25 February 2021 11:38 am

  Currencies Overview: US Dollar Near Lowest Level in 3 Years

  

  The US dollar sat near its lowest level in three years against riskier currencies on Thursday, February 25th, as signs of a continued easing of monetary policy by the US Federal Reserve sparked trading in assets that are rising thanks to the improvement in the economic cycle. The US currency …

  Read More »
• 25 February 2021 11:34 am

  Oil Rises More Than 2%, Following data Showing Declining US Production

  

  Oil prices rose on Wednesday to their highest in 13 months after US government data showed that crude production fell due to freezing weather last week. The US production of crude oil fell by more than ten percent last week, equivalent to one million barrels per day, in the midst …

  Read More »
• 25 February 2021 11:31 am

  New US Home Sales Exceeded Expectations in January

  

  New US home sales increased more than expected in January, supported by record low mortgage rates and a severe shortage of existing homes for sale. The US Commerce Department report on Wednesday shows continued housing market support for the economy’s recovery from the COVID-19 recession. But momentum may ebb in …

  Read More »
• 25 February 2021 4:05 am

  USD Erases Earlier Gains and Closes Lower

  

  The U.S. Dollar (USD) declined on Wednesday after fluctuations, amid a rise in Treasury yields, the market reacting to the approval of a new Coronavirus vaccine, as well as the testimony of the Federal Reserve Chair Jerome Powell in front of the House of Representatives. The Dollar Index (DXY), which …

  Read More »
• 25 February 2021 3:53 am

  Oil Registers Highest Level Since January 2020

  

  Oil prices rose on Wednesday to their highest level in 13 months, despite data showing an increase in crude inventories in the United States last week. However, the U.S. Energy Information Administration (EIA) reported showed that distillate stockpiles registered a large decline. In addition, output disruptions in Texas, due to …

  Read More »
• 25 February 2021 3:39 am

  NYSE Closes Higher with the Dow Seeing a Record Close

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by the approval of the  Johnson & Johnson’s vaccine for emergency use in the United States. In addition, the market was supported by the remarks of the United States Federal Reserve Jerome Powell in his testimony to the House …

  Read More »
• 24 February 2021 11:55 pm

  U.S. Treasury Yields Off Session Highs Following Powell Testimony

  

  Treasury yields in the United States continued to rise on Wednesday but gave up their record high levels seen earlier today, following remarks by the Federal Reserve Chair Jerome Powell. Selling pressure of long-term debt instruments continued amid concerns about a rise in inflation, however, Powell delivered a calming message …

  Read More »
• 24 February 2021 11:38 pm

  Gold Prices Fall for Second Day

  

  Gold prices declined on Wednesday for the second consecutive session, losing the important $1,800 support level. The decline in the yellow metal prices came amid a continuous rise in the U.S. Treasury bond yields that reached their highest level in about a year. Gold futures for April delivery declined by …

  Read More »