Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 7 June 2021 11:37 pm

  Oil Finishes Lower as Chinese Imports Plummet

  

  Oil prices closed lower on Monday, giving up their two-year highs that were registered by the end of last week. A drop in Chinese oil imports might have discouraged the positive expectations for demand recovery in the coming months. Brent crude futures for August delivery declined by 40 cents, or …

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• 7 June 2021 10:03 pm

  Gold Closes Higher Below $1,900

  

  Gold prices rose on Monday, for the second consecutive session, but once again failed to restore the key $1,900 level. The yellow metal’s rise was limited by the rising Treasury bond yields. Gold futures for August delivery gained $6.80, or 0.4%, to finish at $1,898.80 per ounce. Silver futures for …

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• 7 June 2021 9:31 pm

  European Stocks Finish at New Record High

  

  European stocks rose on Monday, to begin the new week with a positive performance, hitting a new all-time record high. The STOXX Europe 600 index added 0.22% and finished at 453.56 points. Strong gains by the auto sector, which reached its best level since March 2015, provided support for the …

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• 7 June 2021 7:53 pm

  Wall Street Indices Mostly Lower in Early Trading

  

  The main indices of the New York Stock Exchange (NYSE) opened mostly lower on Monday, amid a rise in the U.S. Treasury bond yields. In addition, Wall Street investors are anticipating a series of important economic data this week, which will reflect the state of economic recovery from the Coronavirus …

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• 7 June 2021 6:17 pm

  China’s Imports in May Grow at The Fastest Pace in a Decade as Raw Material Prices Soar

  

  China’s imports grew in May at the fastest pace in a decade, driven by higher demand for raw materials, although export growth slowed more than expected amid delays caused by COVID-19 infections in the country’s ports. While the rapid recovery in developed markets boosted demand for Chinese products, the outlook …

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• 7 June 2021 5:47 pm

  Dollar Struggles to Gain Traction as Markets Await Inflation Data

  

  The dollar stabilized on Monday after losses suffered on Friday following the release of US jobs data that came in below expectations, while currency markets, in general, lacked momentum as investors awaited important inflation data this week. The jobs data was seen as a relief to the markets as it …

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• 7 June 2021 4:54 pm

  G-7 Nations Reach Historic Deal on Global Tax Reform, What is it?

  

  The Group of Seven developed nations agreed over the weekend to a minimum global corporate tax rate of at least 15% as part of a broader deal on how to tax multinational companies such as Amazon and Google. German Finance Minister Olaf Scholz described the deal as “historic.” “It is …

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• 7 June 2021 3:42 pm

  Gold Falls With The Rise of The Dollar And Attention Turns to US Inflation Data

  

  Gold fell today with the dollar slightly higher, as investors’ focus shifted to US inflation data due this week, which may give some indication of the extent to which the Federal Reserve will continue to refrain from reducing monetary support. The dollar rose 0.1%, making gold more expensive for holders …

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• 7 June 2021 3:06 pm

  Oil Retreats From Two-Year Peak Above $72 on Iran Supply Worries

  

  Oil fell on Monday, after hitting a two-year peak above $72, on pressure from a possible increase in Iran’s exports, but the recovery in demand and supply restrictions from OPEC + provided some support. Demand increases in the United States and Europe with the easing of restrictions related to COVID-19, …

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• 7 June 2021 2:26 pm

  Eurozone Sentix Investor Confidence Improves to 28.1 in June

  

  Eurozone’s investor sentiment continues to improve as a trend in June, the latest data published by the Sentix research group showed on Monday. The gauge rose to 28.1 in June from 21.0 in May vs. a reading of 26.0 expected. The index advanced for the fourth straight month on reopening …

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• 7 June 2021 1:53 pm

  European Shares Retreat From Record Highs on Commodities

  

  European shares slipped on Monday from all-time highs, with commodity stocks leading losses, as sentiment weighed after weaker-than-expected Chinese trade data and inflation concerns. Mining stocks fell more than 1% as copper prices fell after the below-expected Chinese export data raised fears of weak demand for the metal. Oil and …

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• 7 June 2021 1:17 pm

  An Unexpected Drop in German Industrial Orders in April

  

  Today’s data showed German industrial orders unexpectedly fell in April due to lower domestic demand, indicating that manufacturers in Europe’s largest economy are still affected by the closures aimed at containing the Coronavirus pandemic. Data published by the federal statistics offices showed that orders for industrial goods fell 0.2%, after …

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• 7 June 2021 12:26 pm

  Japan Shares Rise on US Jobs Data

  

  Japanese shares closed higher on Monday after US jobs data eased fears of an early Federal Reserve policy easing, but strong profit-taking capped gains amid caution ahead of US inflation data this week. The Nikkei index rose 0.27% to 29,019.24 points, after it rose 1% earlier in the session, approaching …

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