Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 10 February 2021 4:09 pm

  Iraq’s Oil Minister: OPEC+ to Keep Output Policy Unchanged at Next Meeting

  

  Iraq Oil Minister HE Ihsan Abdul Jabbar Ismaael said on Wednesday that Iraq’s oil exports should average around 2.9 million barrels per day in February, as reported by Reuters. Ismaael added that he expects Brent prices ranging between $58 and $63 and noted that he doesn’t expect OPEC+ to make …

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• 10 February 2021 3:25 pm

  European Stocks on Positive Side on SocGen Earnings Report

  

  European stocks rose during trading on Wednesday on upbeat quarterly earnings reports from companies including SocGen helped boost optimism about a faster vaccine-led economic recovery this year. The STOXX 600 rose 0.3%, with commodity-related and banking stocks leading the gains. Most of the European indices were higher in early trade. …

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• 10 February 2021 2:35 pm

  Gold Rises on Dollar Faltering And Stimulus Hopes

  

  Gold rose on Wednesday, February 10, hovering near the peak of a week that it reached in the previous session, as the attractiveness of the yellow metal increased as a hedge against inflation after the dollar fell and hopes for a US stimulus package increased. And gold rose in spot …

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• 10 February 2021 1:45 pm

  Germany: Inflation Rate at Its Highest Level in 7 Months

  

  Germany recorded an annual inflation rate of 1% in January 2021, in line with preliminary estimates. For January, the annual rate of inflation accelerated from -0.3% to 1.0%, which was also in line with prelim figures. In both November and in December consumer prices had fallen by 0.3% year-on-year. consumer …

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• 10 February 2021 1:23 pm

  EIA Reduces Its Forecast For Global Oil Demand Growth in 2021

  

  The US Energy Information Administration, on Tuesday, February 9th, reduced its forecast for global oil demand growth in 2021 by 180,000 barrels per day to 5.38 million barrels per day. In its monthly forecast, the administration raised its estimate of oil demand growth in 2022 by 190,000 barrels per day …

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• 10 February 2021 1:14 pm

  Britain Records a New Decrease in Corona Cases and an Increase in the Number of Deaths

  

  On Tuesday, February 9th, Britian recorded another decrease in the daily number of new cases of COVID-19, despite an increase in the number of deaths. Tests confirmed that 12,364 people were infected with the virus, in the latest daily toll, down from 14,104 cases yesterday, Monday. The number of new …

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• 10 February 2021 1:04 pm

  Oil Decline Despite an Unexpected Drop in US Inventories

  

  Oil prices fell on Wednesday, February 10, threatening to end the longest rise in two years as investors ignored sector data showing lower US crude oil inventories, boosting optimism about an expected increase in global demand for fuel. Brent crude fell cents to 61.08 dollars a barrel, after increasing about …

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• 10 February 2021 12:45 pm

  Japan Shares Higher on Bright Prospects For Auto Sector

  

  Japanese shares closed higher in choppy trade Wednesday, February 10, after positive earnings from market leaders Toyota and Honda shed light on an improved global economic outlook. Nikkei’s benchmark rose 0.19% to 29,562.93 points, while cyclical and technology-related consumer stocks led the gains. The broader Topix index increased 0.27% to …

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• 10 February 2021 3:34 am

  Senate Begins Trump’s Second Impeachment Trial

  

  The proceedings of former United States President Donald Trump’s second impeachment trial in the U.S. Senate began earlier today. For hours on Tuesday, Democratic members of the House of Representatives who are impeachment managers as well as Trump’s defense team debated the constitutionality of the impeachment trial. Trump’s lawyers argue …

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• 10 February 2021 2:08 am

  U.S. Oil Inventories Down 3.5 M Barrels: API

  

  Crude oil inventories in the United States declined by 3.5 million barrels last week, according to the weekly report of the American Petroleum Institute (API) released on Tuesday. During the week ending February 5, gasoline stockpiles rose by 4.8 million barrels, while distillate inventories decreased by 487,000 barrels. It is …

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• 10 February 2021 2:05 am

  NYSE Closes Mostly Lower but Nasdaq Snaps Another Record High

  

  The main indices of the New York Stock Exchange (NYSE) closed mostly lower on Tuesday, after a series of gains that saw it hit new all-time record highs. The decline comes on the back of mixed financial results reported by some major listed companies. The Dow Jones Industrial Average declined by …

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• 10 February 2021 1:58 am

  Oil Maintains Rally and Scores Best Gains in a Year

  

  Oil prices continued to rise on Tuesday, reaching a new year-high level after declining earlier in the session. The rally of crude prices is supported by the commitment of major producers, an alliance known as OPEC+, to output curbs. In addition, hopes for economic recovery and the anticipation for a …

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• 9 February 2021 11:00 pm

  Gold Rises to Highest Level in Week

  

  Gold prices rose on Tuesday for the third consecutive session, supported by the decline of the U.S. Dollar (USD) to its lowest level in about a week. The yellow metal gains come amid anticipation for the passing of the new stimulus package in the United States, which is a $1.9 …

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